Farragut Zestimate Off By More Than $100,000!

If you are wondering what your Farragut or Knoxville area home is worth and you think Zillow is going to give you an accurate “zestimate”.  Think again.  I sold a home yesterday in Farragut’s Fox Den Subdivision and the Zestimate on the day of the closing was off by more than $100,000!  The home at 228 Baltusrol Road, Knoxville, TN 37934 (which was actually my personal home) closed on February 27th, 2015 for $690,000.  What did Zillow say it was worth on the same day?  Are you ready for this?  $585,583.  Zillow was off by a whopping $104,417.  Can you see how important it is to have a local professional guide you in the process?  There are folks selling their homes for sale by owner, pricing them according to the Zillow Zestimate, that could be losing huge amounts of money.  Sites like Zillow and Trulia and sites that say they can give you an “instant estimate” are simply pulling information from tax records, which in Knoxville are known for being inaccurate.  They aren’t taking into account and updates you’ve done, or any special features your home might have that can drastically effect the sales price.  For example, in Fox Den, if you had an identical house, and one was on the golf course and one was across the street (not on the golf course), there would be a huge difference in what those homes could sell for.  For an accurate estimate on what your home could sell for, call a local real estate agent who knows the market.  Are you thinking about selling? Contact me, Troy Stavros with Gables & Gates, REALTORS® today to schedule a time to sit down and talk about your situation.  Are you interested in finding out the real worth of your home?  Click here to find out.