How come 3 houses on my street are so much lower in price?

Profile picture for weezy22

1942 NE Springer Ct Mcminnville, Or.

All are built by same builder who lives on the street in the biggest house. They are very close in yr built and none are dingers (same house just cosmetic changes). Range from 1 to 3 story, I know there should be some difference in building cost of single vs multi story but 100k?
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December 18 2010 - McMinnville
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Answers (3)

Profile picture for Ryan Eck
Weezy,
If all things are equal except the square footage and size, I would look at the price per square foot.  This would get you a little closer to understand how Zillow is determining the price.
Another consideration is the exact year the each of the homes were sold.  Even 3 years can be a significant change in price.  For example the price in 2007 may be anywhere from 10- 15% higher compared to this year.  If one of the homes sold in 2005 and another in 2007 that would tell you why there is such a difference.  Zillow is only a computer software which pulls actual closing price from public records and then uses their formulas to derive a proposed price.  I recommend that you seek a compentent real estate professional for a more accurate pricing.
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January 18 2011
Profile picture for weezy22
No,we have had the same neighbors for 9yrs.  2 are trying to sell for the past 18 months.
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December 19 2010
Profile picture for pvhomes
The ones that are high probably have sold recently.
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December 18 2010
 

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Profile picture for Ryan Eck
QuestionHow come 3 houses on my street are so much lower in price?
  • Latest answer by Ryan Eck
  • January 18 2011
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