Utah Is 1 Of Zillow’s Blind Spots
The Impact of Utah’s Nondisclosure Laws & The Problem with Zillow’s Estimates
Zillow’s blind spots
Zillow, a popular real estate platform, relies on public records to estimate the home values it puts on its site. In most states, property sales records, including the price the homes sold for, are publicly accessible. This allows Zillow to track recent home sales and adjust its estimates accordingly.
Utah’s Unique Privacy Law
However, Utah’s nondisclosure law protects the privacy of homebuyers by keeping sales prices confidential. The sales price is not listed on the property tax records. This means that Zillow cannot access accurate, up-to-date information on recent home sales in the state.
The Impact on Zillow’s Estimates and Zillow’s blind spots
Without reliable sales data, Zillow’s estimates for Utah homes can be significantly inaccurate. The platform relies on outdated listings or general market trends to generate its “Zestimates.” This can lead to substantial discrepancies between Zillow’s valuation and a home’s true market value.
Beyond Zillow
To get a more accurate assessment of your home’s value, it’s crucial to consult with a local real estate professional. They can provide a detailed market analysis based on recent comparable sales, local market trends, and other relevant factors.
Video: Here is why Zillows Utah home prices are never accurate
Rental property cash flow
At the end of 2012, I helped my parents buy a 1279 SF, 3-bed, 2-bath, 2-car garage, fenced yard, rental home. (316 E Urie W Dr., Washington) They paid $133,000 cash for the home. It now brings in about $1,500/month in rental property cash flow after all expenses.