176
people found this helpful, as of 2023
ranked #196,427 most helpful
out of 571,544,897 reviews
★☆☆☆☆
Waste of your time and money
Spencer and Stan lost me when they say their data centric method of valuing homes is more accurate than a person using comparable sales. They called using comparable sales a 'guestimate'. Ultimately a property is worth what a typical buyer is willing to pay for it. The best way to gauge this is to see what buyers have recently paid for similar homes in the same location ( comparable sales ). If you spot check their zestimate with homes you have a general idea what they are worth ( recently sold etc. ), you will most likely find, like I did, that their zestimates are way off. If the main results of their data mining ( zestimates ) are so far off, it calls into question all their data mining conclusions.
Even if you accept their data mining conclusions are accurate, they are based on data for the whole country. Even different neighborhoods in a particular city can be vastly different. Maybe, on average for the whole country, renovating a bathroom adds more value than renovating a kitchen, but that has little relevance to the home you own in your neighborhood.
I admit, it's a catchy title. Who wouldn't want insider information on buying or selling your home. But the information in this book falls way short of this. Don't waste your time or money.
February 2015 · Books · verified purchase