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Answers (4)
- mommyjen7
- Contributions:2
all the other homes in the surrounding blocks remained in the 300k range. just this one jumped up by 117k in one month. Even stranger. If the algorithm changed it should have changed some of the surrounding properties.
- Elaine Humphreys-Allen, "humph6"
- Contributions:3
My house went from 433 K in Oct to 282 K in April. Now they have it up by 55K. That still only makes it 0.64 cents per square foot. This is a very stable neighbourhood, large lots (mine is 3+ acres) with 5,273 sq.ft with Wolf and Sub Zero appliances, tankless water heater, three heating cooling zones. Masses of antique wood flooring and wide hardwood window and door casings/trim and large crown molding also high hardwood paneling in two rooms, 9 foot ceilings and NO popcorn. There is not a Masonite door in the place. SO WHAT HAPPENED ZILLOW?
As a real estate broker, I now find that I cannot trust Zillow like I used to. It makes is so difficult when showing houses to clients when they have looked up prices on Zillow. It used to be the 'GO TO' source. Now I am not so sure if I can ever trust them with so many discrepancies. I could quote other houses that this has happened to but, I feel it inappropriate.
As a real estate broker, I now find that I cannot trust Zillow like I used to. It makes is so difficult when showing houses to clients when they have looked up prices on Zillow. It used to be the 'GO TO' source. Now I am not so sure if I can ever trust them with so many discrepancies. I could quote other houses that this has happened to but, I feel it inappropriate.
- gerald harris, "homesandcondos"
- Contributions:1
Possible Recent Sales around that property have gone on drastically. Although I have never seen a 100k jump in 1 month. Scary Appraisal
- Ray Shapley, "Ray Shapley"
- Contributions:1
That's not very likely.
Are you talking about the Zillow price?
If so, I would guess it means they have changed their algorithm. By that I mean the formula they use to determine your home's value.
Bottom line - it's just their guess of your home's value. The only real way to know the value is to have a real estate agent use MLS to pull recent, comparable sale prices from your area.
Your house is worth exactly what people moving to your area are willing to pay. Not what I think it's worth, you think it's worth and certainly not what a piece of software thinks it's worth. The only true way of determining this is by a sales history of similar homes in your neighborhood.
I'm a huge fan of Zillow, but at this point in time, you really can't rely on their pricing information to be completely accurate.
Are you talking about the Zillow price?
If so, I would guess it means they have changed their algorithm. By that I mean the formula they use to determine your home's value.
Bottom line - it's just their guess of your home's value. The only real way to know the value is to have a real estate agent use MLS to pull recent, comparable sale prices from your area.
Your house is worth exactly what people moving to your area are willing to pay. Not what I think it's worth, you think it's worth and certainly not what a piece of software thinks it's worth. The only true way of determining this is by a sales history of similar homes in your neighborhood.
I'm a huge fan of Zillow, but at this point in time, you really can't rely on their pricing information to be completely accurate.
How can one house go from 350k to 467 worth in one month?
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