How can a neighborhood adjust the appraised value of a listing?

Profile picture for CRowdy
Good morning, We have a house for sale in our neighborhood that has become a problem rental. It's listed for $50,000 (and that's not bad when compared to other listings in the area) however we know from Marion County Health & Hospital that there are numerous issues inside the house. Zillow appraises the property at $51,000. Can we submit H&H reports to Zillow to adjust this appraisal? We really just want someone to get a better deal and to rid our neighborhood of a slumlord.
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January 20 - Indianapolis
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Answers (1)

Profile picture for ChandaB
Zillow Zestimates should not be used for the end all be all valuation of a property, they can literally be off by tens of thousands of dollars. For example, they valued a property at $185K which on it's best day was worth about 55K.  Yes we're talking more than 100K off....

The best way to value a property is through an appraisal.  The other method is via a licensed agent researching the comparable properties in the area. They will take into consideration the condition and features of your property compared to others in the area.

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January 20
 

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