The executive vice president and chief information officer at McEnearney Associates, David Howell, recently entered into the debate about how accurate and useful the automatic valuation models on Zillow are (“Zestimate”). In this Washington Post article, he lays out the case that McEnearney Associates’ own internal data analysis shows the Zestimates are not as accurate as the public perceives them to be. Zillow’s chief economist, Stan Humphries, has responded, saying Zestimates are useful if used “in the right way” and cites examples of how to use them.
We highly recommend taking the time to read both articles since they lay out many important considerations for this heavily-debated subject. Of course we want to hear your thoughts on what both these writers had to say. Please share your thoughts about each author’s position in the comments.