Is Real Estate Site Zestimate Optimistic?

600 E Weddell DrSPC 284 Sunnyvale, CA ZillowAn item on Housingwire points out a recent over “zestimate” by the real estate web site Zillow of a manufactured home in Sunnyvale, California. More than three times the asking price, the zestimate of $357,000 on the home at 600 E Weddell DrSPC 284 in Sunnyvale was probably in line with a home and lot, but on the hopeful side for a manufactured home land-lease community. A call to Zillow from housingwire, however revealed the company was aware of the lot arrangement. The company responded that there were too few comps to get a more accurate estimate. The article used the overly zealous zestimate as a chance to point out shortcomings in computer models that may be instantly recognized by a real estate agent.

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