Profile picture for dukearoo

Homes vs. lots

Two vacant lots next to my house are valued at over $100,000.
My home with same size lot is valued at $129,000.
How can this be ?
  • January 12 2012 - Powers Lake
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Answers (3)

Compare your home with other homes of similar size and see if the Zestimate is similar, and ignore the lot values (dervied from tax records only and usually incorrect relating to value).
  • January 12 2012
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Profile picture for blue screen exile
Zillow does not estimate empty lots.  It appears they need to be flagged as the county records must be indicating them as having a house on them.

If they are listed for sale instead of estimated, an owner can ask anything they want for them.  It doesn't mean anyone will offer that.  Some people are still thinking of numbers that were paid at the peak of the bubble.
  • January 12 2012
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Profile picture for Sharon Lewis
Its not real, Zillow is a zestimate of value....so here is what I suggest, go in, claim your home, update as much as possible, the more bedrooms, bathrooms etc the higher the value...same with square footage. And in the remarks, you might make note that they are two lots beside you.
You know if you really want to know what todays CURRENT MARKET VALUE is on your home, pay an appraiser or ask a Realtor to do a CMA, comparative market analysis for you. 
Read this about Zestimates
http://www.zillow.com/wikipages/What-is-a-Zestimate/ 
  • January 12 2012
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