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Answers (4)
- Vivianne Rutkowski, "VivianneRutkowski"
- Contributions:923
dc_danceman,
I say, shame on zillow gods ... being gods, they should have known you have done all those improvements :-)
Kidding aside, I am happy to hear that you love your Grandmother and were willing to make all the improvements for her .... she is one of the lucky Grandmas :-)
However, speaking strictly real estate, the Grandma/In-Law suite with additional kitchen on the Lower Level will only convert to a higher selling price IF there is a demand for it when you sell your home. Buyers who do NOT have a need for such a In-Law suite will see it as a detrimental item and will NOT necessarily be willing to pay a premium price for this improvement - even though it does have a VALUE and increases the QUALITY of life for your Family. It actually may take longer to match the right buyer for your home. The same rule applies to swimming pools, wood burning fireplaces, etc.
I say, shame on zillow gods ... being gods, they should have known you have done all those improvements :-)
Kidding aside, I am happy to hear that you love your Grandmother and were willing to make all the improvements for her .... she is one of the lucky Grandmas :-)
However, speaking strictly real estate, the Grandma/In-Law suite with additional kitchen on the Lower Level will only convert to a higher selling price IF there is a demand for it when you sell your home. Buyers who do NOT have a need for such a In-Law suite will see it as a detrimental item and will NOT necessarily be willing to pay a premium price for this improvement - even though it does have a VALUE and increases the QUALITY of life for your Family. It actually may take longer to match the right buyer for your home. The same rule applies to swimming pools, wood burning fireplaces, etc.
- James Ryan, "GreatRateFolks"
- Contributions:1038
Hi dc_danceman,
I do a lot of work in Northern Va, and I am sure you have improved your home value when it comes to selling the home.
Wet dawgs and Vince make good points, and I am sure Zillow will reflect that fact soon.
Remember, Appraisals use timely sales info to establish value. If your home is overbuilt, or over improved, you may not get much return.
Best wishes,
JIm
I do a lot of work in Northern Va, and I am sure you have improved your home value when it comes to selling the home.
Wet dawgs and Vince make good points, and I am sure Zillow will reflect that fact soon.
Remember, Appraisals use timely sales info to establish value. If your home is overbuilt, or over improved, you may not get much return.
Best wishes,
JIm
- Vince Curtis, "SoCal Appraiser"
- Contributions:4699
As Wetdawgs mentioned, it takes time. Though a increase in your Zestimate may not show at all as Zestimates change constantly due to your sales in your area. And though Zillow gives you the ability to edit facts, I would never mention my upgrades for simple privacy reasons.
To be honest, youll only really know how much your home is worth when you sell it, not before. Everything else is only a guess.
To be honest, youll only really know how much your home is worth when you sell it, not before. Everything else is only a guess.
- wetdawgs
- Contributions:26789
Zillow does not offer appraisals, but Zestimates as a starting point. Appraisals require an in person visit. AVMs are calculations from numbers.
There are two aspects of your post to address:
It appears you edited home facts four days ago. When substantial changes in the core facts of the house (room number, house size) are provided, it takes several weeks to several months for those to fully reflect in the Zestimate. The last one I monitored carefully was about 8 weeks.
The second aspect is the Zestimate is calculated from the core facts of the home, and does not reflect upgrades except as shown in tax appraisals and/or sales prices.
There are two aspects of your post to address:
It appears you edited home facts four days ago. When substantial changes in the core facts of the house (room number, house size) are provided, it takes several weeks to several months for those to fully reflect in the Zestimate. The last one I monitored carefully was about 8 weeks.
The second aspect is the Zestimate is calculated from the core facts of the home, and does not reflect upgrades except as shown in tax appraisals and/or sales prices.
Appraisal is low - Please review
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