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How can entire city's value reduced over 25% in ONE month.

I understand the importance of correct information in the age of the Internet.  I was an internet pioneer starting one of first internet service provider (ISP) businesses even before web pages existed.  Certainly something is wrong in your valuation system when you downgrade the value of my house over 30% in ONE month and my entire CITY by 25% when you admit the values nationwide have only gone down  .1% in the last quarter.  This is serious to our entire community and future values.  I purchased my home ONE year ago for $444,000 (original list was $510,000) and now you value it for only $325,000.  How can you justify this?  ...especially the 25% decrease for the entire community in ONE month, when communities nearby are actually showing an INCREASE in value at the same time.
  • November 13 2011 - Lake Park
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Answers (1)

You are giving Zillow, and their Zestimates, too much weight.....They are only opinions of value, NOT your real value.

If you bought your home, and you love it, it should be 'priceless'. If you dont love it, sell it, and then youll learn how much its worth. Zestimates, appraisals, CMAs - all only give their opinion. You will only know how much its worth when you sell it.....

  • November 13 2011
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