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How did the value drop so much on 2840 N. 124th Street, Wawatosa, WI.

How did the value drop from $285,000 to $125,000 on 2840 N. 124th Street, Wauwatosa, WI 53222.   The property is an owner-occupied townhouse/duplex with $1,200 per month for the rented unit.   The assessed value by Wauwatosa is $271,900 (Reassessed after the sale which occured on 12/31/09 for $265,000).   

Thanks,
Mark 
  • July 08 2011 - Wauwatosa
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Answers (3)

Profile picture for Greg Chadwell

We had a similar situation happen on our house when we did a deed transfer for 1/2 the price in order to put both owners on the deed. 

Maybe also check out the square footage too and make sure its correct.  You can manually update the Zillow information by claiming your house.

I also seen some duplexes and apt buildings only using one unit for the basis of value too.  I went to a Zillow conference and the first Question is

"Whats up with the Zestimates?"   The rep states with a smile on his face that  it not always accurate and uses an algorithm to determine and estimate

values. 

  • December 06 2014
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Profile picture for Sharon Lewis
Its a zestimate, based on public records, as a realtor, I would not ever use this information. I rely on a professional appraisal or a comparative market analysis that I do which is indepth .
Here is how to claim your home to at least update information.
http://www.zillow.com/wikipages/Claim-Your-Home/
  • July 09 2011
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Zillow has no information on the subject property, therefore the Zestimate may not to be good, if it is your property then claim your home on Zillow and edit the missing details which may affect the subject's Zestimate in a few weeks.
  • July 08 2011
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