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How can two houses across the street have such different value curves?

Look at 29 Hart Ave, Hopewell, NJ 08525 and 30 Hart Ave.
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April 10 2011 - Hopewell Township
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Profile picture for wetdawgs
Zillow's formulas are next to useless when a lot of data are missing, as for at least one of those properties.   "what's up?"  a lack of data is what is up.
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April 10 2011
Profile picture for Joe Sabin
A bit more info. The houses across the street are at about 87% assessed value, the ones on my side are 75% in zillow. That's what confuses me. The house next door just sold for about 94% of assessed value.

What's up with the estimates?
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April 10 2011
Profile picture for wetdawgs
The Zestimates are indeed quite different, but #30 has a much larger lot.  There are very few facts shown for #30 so the computer models don't work very well.
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April 10 2011
If this is a residential question then remember that it always makes sense to be the little house on the BIG house block.  The larger homes increase the value of the smaller and the reverse is true.

Realtor 
El Paso,Tx.
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April 10 2011
There are tons of reasons why.  Value is based on the location, condition, and amenities of a house. 
What is the basis for the value given?  Is it an appraised value? is an assessed value? or is it a market value placed by a Realtor?  Usually those are 3 different values.  Be sure to compare apples to apples.
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April 10 2011
Not being from NJ it could be one back up to a busy street or a commerical property and the other does not. It could also be that one is in poor condition, could be a short sale or foreclosure and the other is not.
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April 10 2011
 
Related Questions
How can two houses across the street have such different value curves?
Profile picture for wetdawgs
Latest answer by wetdawgs
April 10 2011 | 6 answers
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