For most people living in Kyle, their home represents the single biggest investment that they own.
Depending on when you bought your home, you could have a few thousand or tens of thousands in equity. If you are just relying on the Zillow Zestimate then you could be way off the actual equity amount because, in Texas, Zillow does not have all the needed data.
The Zillow Zestimate it’s based on an algorithm essentially guessing the market value of your property. However, this algorithm is only as good as the information it is fed. Unfortunately, in Texas Zillow is missing one big piece of data, actual home sales prices.
Why is Zillow missing this critical data?
Texas is one of twelves states known as a non-disclosure state. This means that what a property actually sold for is not listed in any public record. If you’re curious about what your neighbor’s home sold for it is impossible for you to go to the county clerk’s office and look this information up and the public records.
So withh Texas being a non-disclosure state, Zillow has a very inaccurate view of local real estate markets and is unable to give you accurate home value. This face is openly disclosed right on the Zillow website.
If you look at the Zillow zestimate graphs, you will see the market value changes significantly over time. In fact you will usually see a big adjustment when a home is listed for sale.
Here are a few examples of Zillow making drastic adjustments when a property actually hits the market.
Now let’s look at actual sold prices compared to Zillow.
It seems that for the Kyle real estate market homes under $300,000 are greatly undervalued by Zillow and when homes over $300,000 seem to be greatly overvalued by Zillow.
Getting An Accurate Home Value In Kyle
If you are thinking of making a change in your life that requires you to tap into the equity in your home, it is important to get the most accurate information possible.
As a real estate agent primarily focused on the Kyle real estate market, I invite you to reach out to me to get a free, no obligation, Market valuation.
Simply visit Kyleweekly.com and click on the home valuation button and I will follow up where is a customized valuation for your home using actual sales data.
Get Your Free Home Valuation Here: https://kyleweekly.com/my-value/
I look forward to visiting with you.