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How come?

Why is it that Zillow keeps bring my value down so much but raising my neighbors? Our neighborhood is a cookie cutter street. All houses were built within months of each other and they are all the same with the exception of what that homeowner changed on the inside... each home may have a slightly different exterior style but each home is the same size and age... yet I am almost 20,000.00 less then my neighbors. I started off in the 90's but i sent a request to fix my purchase price because we paid 75,800.00 not 72,000.00 and ever since I have requested it my value goes down weekly again while my twin neighbors rise. I am trying to sell my house and people who seek information on this site think that the zestimate is accurate 100%. My value is now down less that what pay off is! I am begging you to look into this. Thank you, Hana Helms 906 Barnes St Albertville Al 35950
  • July 29 2014 - Albertville
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Answers (1)

Zillow doesn't care. There is a page linked to every Zestimate, that clearly states that the Zestimate represents a statistical calculation that could be off by a huge margin. The actual ranges of error are published for each major market. Here is a link to explore how the Zestimate hapens and why it is nearly meaningless. There is a chart about halfway down, that has the margins of error. You can link to smaller markets, by clicking on States/Counties in the table. Only 36% of Zestimates, in Alabama, turn out to be within 5% of the sales price. Nearly 25% of the Zesties, miss by over 20%.
  • July 29 2014
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