The Truth about the Zillow Zestimate in Owensboro, KY

Karen Pannell Owensboro KY Real Estate

If you are using the Zilllow "Zestimate" as a tool to determine market value of Owensboro, KY Real Estate, you might find it to be a "Goldilocks" sort of experience. I have found the Zillow property value estimate or "Zestimate" as they call it, to be inaccurate. Owensboro, KY Real Estate values are either "too high" or "too low", but never "just right". According to Zillow, the Kentucky Zestimate is within 5% of the eventual sales price only 42% of the time.

Karen Pannell Owensboro KY Real Estate

Upon further investigation, the numbers for Daviess and bordering counties are not even that. Currently, there are no “Zestimates” for Owensboro - property values reflected on are the current tax assessments, which historically have been inaccurate for two reasons: 1) In Kentucky, property is to be reassessed every four years. Due to manpower issues, some properties are revalued and others are not. 2) The parties working at the tax assessor's office do not go inside properties to assess the values. Interior condition is a major factor in value - something the tax assessor’s office cannot take into consideration. They only do an exterior assessment of the property. They do not always measure the home accurately either. If the square footage reported to the PVA was short 300 square feet when the house was built in 1992, it will stay "short" for all future assessments. Daviess and neighboring counties have a Zillow "one star" rating - which acording to Zillow is the tax assessment or  "unable to compute".  In short, "one star" = no clue.

Karen Pannell Owensboro KY Real Estate


Karen Pannell Owensboro KY Real Estate

WOULD YOU CHOOSE A DOCTOR WHO, 42% OF THE TIME COULD DIAGNOSE YOUR ILLNESS WITH A 5% ACCURACY RATING? That’s what you get with the Zillow zestimate in Owensboro, KY. Why risk it? Call me today for a professional market valuation of your home. 270-903-2167

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Text or Phone:  270-903-2167

Owensboro, Kentucky 42301

Comment balloon 0 commentsKaren Pannell • February 17 2015 03:39PM