When Zillow’s CEO listed his own home, did the “Zestimate” matter?

zillow ceo
Image credit McEnearney Associates

No, it didn’t. A home in Seattle owned by Zillow’s CEO Spencer Rascoff tells us all we need to know about the accuracy of the computer-generated estimates of value that Zillow creates.

The “Zestimate” for this beautiful home is $1,626,772. We would love to have been in the room for the conversation Rascoff had with his Realtor®, because it was initially listed in July for $1,295,000. There have been two subsequent reductions, down to $1,138,900. That’s just 70 percent of the Zestimate.

We’re not knocking Zillow.com. It is a great site with lots of information – but accuracy isn’t exactly their best attribute. And we’re happy for Rascoff that as of this writing, his property has a pending offer. But if Zillow’s CEO ignores the Zestimate for his own home, shouldn’t you?

—McEnearney Associates, “When Zillow’s CEO listed his own home, did the ‘Zestimate’ matter?

Upcoming Events
RALogoReston Association (RA) will host an open house 6:30-8:30 p.m. March 31, at 12001 Sunrise Valley Drive, for those interested learning about RA and the services, amenities and programs it provides for residents. Light refreshments will be available and door prizes will be awarded. RSVP to member_services@reston.org or call 703-435-6530.

Reston Presents… will host Chef Robert McKeon from 7 to 9 p.m. April 11 at Lake Anne, 1609 Washington Plaza. From Tall Oaks Assisted Living, McKean will offer a fun and informative lecture and demonstration of various cooking techniques. From food safety to How to Cook for Two, Chef Robert makes learning easy with his humorous and entertaining demonstrations. This program is for education purposes only; there will be no solicitation or obligations of attendees. Registration required. Contact Ashleigh@reston.org or 703-435-6577 to register.

Reston Presents is a bi-monthly lecture and presentation series that highlights the multifaceted talents of local residents. Topics include anything from cooking demonstrations to stories from war veterans and book signings with local authors.

Did I miss an event happening today? Know about something coming up? What real estate questions do you have? Let me know in the comments below.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s