Do you want content like this delivered to your inbox?
Share
Share

Zillow's CEO Sold Home for 40% Less and Overpaid More Than $1M for His New Home, According to Zillow

Travis Bell

With a business degree in Management Information Systems, Travis previously worked as an executive with Accenture, a fortune 500 company...

With a business degree in Management Information Systems, Travis previously worked as an executive with Accenture, a fortune 500 company...

Sep 11 2 minutes read

A few months ago Zillow CEO Spencer Rascoff sold a Seattle home for $1.05 million, 40 percent less than the Zestimate of $1.75 million shown on its property page a day later.




Well, more recently, Rascoff paid just under $20 million for a six-bedroom mansion in California. 

At that price point, it was one of the most expensive sales of 2016. Given that the online real estate company is headquartered in Seattle, Rascoff’s big purchase is a bit of a surprise. 

Zillow’s Zestimate for the home’s value was only $18.4 million. 

That’s more than a million dollars LESS than what Rascoff paid!!

If you didn't already know Zillow readily acknowledges that "Zestimates" are inaccurate (20% in Tampa specifically) and it clearly states on their site, "the Zestimate is a good starting point as well as a historical reference, but it should not be used for pricing a home."



Click Here For Your Home's True Value

We will send you an accurate general assessment in minutes!

Read More

 


Want Exclusive Real Estate Information?

Like Us on Facebook

We use cookies to enhance your browsing experience and deliver our services. By continuing to visit this site, you agree to our use of cookies. More info