You have probably landed here after seeing the Zillow (or other real estate site) listing.
As you already know Zillow’s estimated value is based on a per square foot price. Traditionally this number usually includes “finished living area” only. It does not consider other “value adders” like finished garages, landscaping, premium construction practices, date of build and other things unique to the listing property. While this is OK and is necessary, it is not a true indicator of a properties value and is more often than not thousands of dollars off.
From Zillow: “Thank you for taking the time to contact us about your Zestimate concerns. To begin, I would like to note that the Zestimate is an estimate derived from our proprietary algorithm. The data included in this algorithm include physical attributes, tax assessments, and prior and current transactions. The Zestimate is simply an estimate using the best information available to us. Please know that we do not intend for the Zestimate to replace a comparative market analysis as they can take into account market intricacies that the Zestimate cannot. The Zestimate is really meant to be a starting point in determining a home’s value and is not an official appraisal. To learn more about the Zestimate, we encourage our users to follow this link http://www.zillow.com/zestimate/”
With that being said, to arrive at a “real” fair market price all the features (and more) previously mentioned in the Unabashed Sales Pitch page have been considered.