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· Zillow has a popular feature called Zestimate, which provides estimated propertyvalues. But before you use it, here are a few things you should know.
· The Zestimate is Zillow’s automated home valuation tool. It uses public data, MLS records, and proprietary algorithms to instantly estimate a property’s marketvalue, with no agent or signup required.
Zillow is more than a place to browse homes. It’s a place to connect with a local agent, explore financing solutions, schedule home tours, understand your buying and selling power, and more.
· Zillow is one of the most popular names in the real estate world, but does its popularity mean it’s truly reliable? To help you decide, we’ve taken an in-depth look at what Zillow offers, how effective it is, and whether you can trust it when making important real estate decisions.
· To calculate a Zestimate, Zillow utilizes an advanced artificial intelligence called a neural network. Neural networks are systems inspired by the human brain that can process enormous amounts of data and recognize complex patterns.
The Zillow Economic Research team publishes a variety of real estate metrics including median home values and rents, inventory, sale prices and volumes, negative equity, home value forecasts and many more.
The direction and pace at which home prices are changing are indicators of the strength of the housingmarket and whether homes are becoming more or less affordable.
