(March 22, 2010)--Are estimates of home values at Zillow.com accurate? A research study conducted by University of Texas at San Antonio business faculty members Daniel Hollas, Ron Rutherford and Tom Thomson found that Zillow's market value estimates are not any more reliable than owners' estimates of value.
Their study, "Zillow's Estimates of Single-Family Housing Values," examined how Zillow's estimates of value, known as Zestimates, compares to actual sales prices. Zillow.com is a Web site that provides estimated market values for houses. The research was published in The Appraisal Journal's Winter 2010 issue.
The faculty members looked at 2,045 single-family home sales in Arlington, Texas, which was rated by Zillow as having the most accurate data. The study found that 40 percent of the homes in the sample were overvalued by Zillow by more than 10 percent, compared to actual sales prices.
"Given these results, homeowners can make good use of Zillow's Zestimates, but in most cases Zillow should not be relied on to provide an accurate estimate of value," said Ron Rutherford, the Elmo J. Burke Jr. Endowed Chair in Building Development. "It appears, based on results from prior research and the current results, that homeowners are able to determine the value of their own homes better than an automated system such as Zillow."
UTSA prides itself on giving students a well-rounded education. Combining a top-tier academic program with opportunities for personal growth prepares students to compete in a global economy. And that's not all. They learn to be informed and engaged citizens as well. At the heart of that academic program is an award-winning core curriculum.
For four consecutive years, UTSA has received an A-rating from the American Council of Trustees and Alumni for the caliber of its core curriculum. According to ACTA, UTSA requires its students to take six of the seven courses deemed "crucial" to a well-rounded education: composition, literature, U.S. government or history, economics, mathematics and science. Only a handful of other institutions in the U.S. are giving students these tools, which are needed to succeed in careers and the community.
Did you know? UTSA is one of only three Texas institutions and 23 in the United States to receive the highest rating for its core curriculum in the 2014-2015 edition of the ACTA's "What Will They Learn?" report.
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Durango Building 1.124 (DB 1.124), Downtown Campus
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