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Home values in 32829 - Why this drastic decline

Friends:

I am seeing a drastic decline in home values in the last 30 days to the tune of 10 - 15% in this area. Any particular reason?

Thanks
Krishna
  • March 03 2010 - Vista East
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Answers (3)

Zillow is not really reliable for home value. It's just a starting point. Houses right now, overall, are affected by short sales and foreclosures in the surrounding area so until the market stabilizes and distressed property is off the table or at the very least, minimized, it'll be difficult to have enough traditional comps to base an accurate or viable price on a subject property.
  • May 07 2010
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Profile picture for rajagopk

Mr Mark:
Thank you for the reply.Price is as per Zillow. My home value was 183K couple of months ago. Now it is about 173K. I did not see too many sales in this neighborhood. Then why this price change as per Zillow?

Thanks
Krishna

  • March 04 2010
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Profile picture for Mark LeMenager
Sorry, but the data on actual closing of 225 properties in this zip code in the past 6 months do not bear this out.  If anything the prices (as measured by price per square foot) have been fairly level for the last 6 months, not up, not down.  Where are you seeing this drastic decline?
  • March 03 2010
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