Study: Zillow Zestimates 'overvalued'

Zillow's "Zestimates" of home market value are often exaggerated and therefore may be no more accurate than homeowners' own overblown estimates of value, charges a study in The Appraisal Journal's Winter 2010 issue.

Zillow countered that the study used data that is "out of date and limited in scope."

The Appraisal Institute, a global association for real estate appraisers that publishes the quarterly journal, says any opinions and views in its articles are those of the authors and not necessarily those of the institute.

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