Zillow and San Diego Real Estate Property Evaluation
As a San Diego homeowner, you have a variety of reasons to want to know what your San Diego County home is worth. Overtime, San Diego real estate may be one of your most important investments. Zillow Zestimates is one of the most popular online tools of property evaluation.
One of the best aspects of Zillow Zestimates is how fast you can get a property evaluation. There are trade-offs, of course, for the convenience. According to Zillow, their median error for Zestimates of San Diego area homes is over 9%. For a $500,000 home, that median error can equal $45,000.
This may be due to California Prop 13, which limits reassessment of property taxes to change of ownership. Property tax assessments is one of the key values Zillow Zestimate’s algorithm uses in determining a property value estimate.
This is probably one of the reasons that Zillow advises their Zestimate is used only as a starting off point to determining the San Diego real estate’s value. To get a more accurate estimate of the value of San Diego real estate, reach out to your San Diego real estate broker.
Watch Kim Ward’s short video explanation of the Zillow Zestimate and San Diego Real Estate Property Valuation.