Zillow Zestimate Corrected $193,000 over night!

[Ryan Dossey]

I can't give too many details as this is an active listing. 

But we have a home that's a flip we just listed. The Zestimate was extremely low due to our buy price. I know retail buyers tend to view this as FMV (even though we know it doesn't mean much) Well... Zillow corrected 193k overnight. I can't say that I'm upset. We went from 230's to 427k over night. Which also makes our similar properties of a similar caliber. Also makes mine look like the best deal on the block! What's also comical is just today the "rent zestimate" also went up by over a grand.

[Chris Mason]

Two things.

1) Good for you.

2) I further hate the fact that buyers think the AVMs matter at all. They are all garbage, even the proprietary ones used by the mortgage industry where hundreds of millions of dollars are on the line.