The following link is a well thought out discussion and explanation of “Zillow”. If you have been shopping for real estate and gone online it is likely you have come across this site which looks great but the back story is not so great. For all you sellers who are upset about the value of your house on Zillow or any buyer who thinks they can use the Zestimate they have on their site – this is for you. This article was written by Bill Gassett who is a RE/MAX agent in Hopkinton, MA and I can only thank him for taking the time to write and share this with the blogosphere….
Unfortunately rarely does assessed home value have a correlation to market value. They are two completely different things. Assessed values are used by towns to collect taxes and in many cases trail the actual market value of a home.