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Hi, my home value is one of the lowest yet is one of the only remodeled homes in the area, any fixes

My home value is one of the lowest on my street yet when you compare it to other homes in the area, it stands out.  There are many homes in the area that have not upgraded anything at all such as appliances, carpet, flooring, siding, windows etc since the homes were built in the late 70's. Yet these houses are 40-60k more.  Even the same home in worse condition in my subdivision is at 166k while mine is 119k.  I myself have redone the siding, soffit, gutters, roof, windows, bathrooms, kitchen, carpets, wood floors, water heater, all appliances, balcony, garage door, landscaping and the list goes on to a bill of over 50k since 2007.  What gives and how can I change this?
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September 29 2011 - McHenry
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Profile picture for Pasadenan
On the other hand, there is a location on each home details page for an owner's or agent's comment about the Zestimate... so use it, and provide a good explanation.

And you can post a make-me move which replaces the number on the map with any number you like.
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September 29 2011
Profile picture for Pasadenan
That is just an idiosyncrasy of the estimating method.  There are absolutely no known "fixes", and no one has suggested a workable solution to fix it yet either.

The numbers used from the modeling come from the public records and owner/agent provided revisions to the public records data.  The owners refuse to tell the county every time they do a revision or "upgrade" to have their property taxes properly increased accordingly, so the public records has no information about the revisions.  And even if they get a permit and pay a small fee to the building department based on the "improvement" they under-estimate the value of that improvement for tax purposes and building permit purposes.  And the tax assessed value of the property for permitted work only increased related to the specific work, not the whole property, so the number is not proportional to the property value.

And those that don't do any maintenance is not recorded in any public records either.

So, high Zestimates usually mean deferred maintenance, and low Zestimates usually mean improvements or revisions have been made, and anyone looking at the estimates already knows about those impacts.

So, if you did have some way to alter those numbers, all it would do is tell everyone that your property is a "fixer" instead of already fixed.

Sure, you can call your county and tell them they are not taxing you enough and for them to come out and re-assess your property so that you can pay more tax... but that still won't change the last sold price adjusted for the purchase date.  So the machine opinion of approximate value will still be below "present market value". 

So, your only "solution" is to sell the property so that there will be a new "last sold price" and date in the public records.
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September 29 2011
 
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  • Asked by Joshua D Murray
  • In Zestimates
  • April 01 2010
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