Search zillow listing and compare asking vs zestimate price

[Alfred Uda]

Do you hire someone to search through zillow and compare the asking price vs zestimate? If so, does the service proof valuable or worth the money spent?

I find myself spending hours searching through zillow listing and using zestimate as a "market value" close enough in most cases. So, i am wondering if everyone else do the same thing, or just hire someone to do it or use a tool that does it.

Alfred 

[James Mc Ree]

You are wasting your time. Think about it for a second: If it was that easy, wouldn't everyone be doing that and mismatches be flooded with offers?

Zillow knows nothing more about properties other than basic specs that sold in the past and current listings. A 3 bedroom pit of despair can look identical to a 3 bedroom gem. Zillow doesn't know about "good blocks" and "bad blocks". It can't tell that a roof needs to be replaced, appliances aren't included, etc. Getting within $10k - $40 is something you can do if you focus on any area because similar properties in the same area tend to trade in a range like that.

Actual comps are your best guide. Choose the section of Durham you are interested in and the type of property. Don't choose a profile you can't internalize as most people can't internalize 100 properties at once. Look at all the current listings matching your profile and prior sales. Set your screen to send you new listings matching your profile each day to keep your knowledge fresh.

You can do this on Zillow, but your research needs to become feet on the pavement. You need to actually be in these properties to get a proper appreciation for them as listing pictures don't tell the whole story and actually can be deceiving at times. There are some very clever photographers out there. As you gain experience, especially after owning a few similar properties, you will get to know their consistent quirks and quickly recognize them. (Example: Pink wall tile all around the bathroom and a certain floor pattern = original bathroom and lead pipes underneath have not been replaced). Zillow can't see that.