Profile picture for oricondrian

How can you compare non-lakefront homes to lake-front homes?

Your comparable properties do not take into account exact location only proximity.  Homes that might be a block away from a lakefront home do not compare to a lakefront home because they do not have access to the lake, nor the same view as a lakefront home.  Zillow should make adjustments to their estimates.  My example is Huron, Ohio.  Homes that are located just a block or two inland, do not have access to water, nor do they have a waterview, yet they are listed as comparable properties.  Huron Ohio is a summer vacation spot.  People vist Huron because of Lake Erie. 

  • January 27 2009 - Huron
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Answers (2)

The assessed value for lakefront homes is higher than a comparable off water home.

Mike
www.LakeSearcher.com
  • February 11 2009
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Profile picture for sunnyview
Zillow has no way to add the value of a view/lakefront location to your home. All they have is the numbers so if your taxes/assessment/past sale is higher on your waterfront home is higher, then Zillow can add some value with the numbers available. They have no other way to add value. I am sure that a buyer will appreciate your location and that an appraiser visiting in person will add value for the location to your appraisal, but Zillow has no way to do this. I would suggest adding an owner's estimate to your home if you haven't already to make sure all features that you can update are updated. I would also suggest considering posting a nice waterfront photo of you home or your view so that people that stop by your home page can appreciate the nice location for themselves. A view is always a plus,but unfortunately Zillow's number tabulations can't appreciate it like you can.
  • January 27 2009
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