Profile picture for 19748

Any idea why homes in the Highland Park (Melaleuca field) area suddenly show a 45 % Zestimate drop?

I have been watching estimates and sales in this area for a year, and literally overnight values plummeted as 2010 tax rates came available.  I suspect Zillow is using post medical expense adjusted tax rates to estimate property values!
  • October 03 2013 - Idaho Falls
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Answers (3)

Best Answer

Profile picture for wetdawgs
Idaho is a non-disclosure state (i.e. sales info is not public), so the only sales that are available are those for which owners have chosen to make public.   This is why Idaho has such a low rating for accuracy in Zillow's "Data Coverage and Zestimate accuracy".

So, yes, one bargain basement sale number being available can cause big Zestimate happenings.  If you would prefer that all sales numbers be public like most states, please contact your state politicians.
  • October 08 2013
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Profile picture for 19748
Think I figured it out.  Zillow (and Trulia) are both showing only 1 sale in 83402 for the last quarter, and that was at bargain basement pricing.  Now their computer models are assuming the base home in 83402 is  valued at only $55,000.  You gotta love computer logic.

(It seems their model ignores sales without a dollar figure attached.)
  • October 08 2013
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Profile picture for Herodotus2012
you can ask zillow, but they won't answer
  • October 03 2013
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