Zillow now uses computer vision to improve property value estimates

https://venturebeat.com/2019/06/26/zillow-now-uses-computer-vision-to-improve-property-value-estimates/

Zestimate now leverages AI models trained on millions of photos from sellers, listing agent, and homeowners. It’s tuned such that highly desirable and in-demand features, like new granite countertops and remodeled bathrooms, have a greater pull on a homes’ estimated market value. Even natural light and curb appeal make a difference, according to Zillow, as do touches like high-end finishes, fireplaces, remodeled kitchens, updated fixtures, and well-manicured lawns.

Zillow says that over the roughly 100 million property values it’s caluclated for homes nationwide, the error rate is now less than 2%, meaning that half of all estimates fall within 2% of the home’s eventual sale price. That’s down from 4% in April.

Granite countertops? Prices vary greatly!

$5 to $120 per sqft