Profile picture for CasadeVilla

How is it that a house down the block, same in what it offers as mine is $162k higher in price?

House in question is on 92nd Ave SE Mercer Island, WA 98040 and is 5 years older than my house. My house is just down the block.
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August 18 2011 - Mercer Island
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Profile picture for Neil R
Hi CasadeVilla -

This is Neil from Zillow.

Tim is correct in saying that home prices vary on many factors. We use information that is available to get a Zestimate which is just a starting point or estimated market value. Updating house information may increase or decrease a house' value.

Thank you.
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August 23 2011
If you are working with a Realtor, than they will show you a list of homes that have recently sold,and the prices they sold for. Those are the homes that you should look at to get an idea of your home price. A lot of home owners see there home through rose colored glasses. There are a lot of Realtors that will take any listing. Even one that won't sell because it is over priced. Be carefull, and don't fall into the trap of keeping up with the highest asking price. It's better to sell your home. 
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June 22 2012
interesting how Zillow makes their answer the best..

this is why Zillow will never take over realtor evaluations on home value
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June 13 2012
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Ofcourse the part about the gold mine was a joke! lol
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June 10 2012
Profile picture for CasadeVilla
Thank you both for your input. Its still hard for me to understand but I do get that there are many items that factor into Zestimates(Home Values).

Should I share that my house sits squarely over a gold mine and I own the mineral rights? As I am certain the house down the street must have the same circumstance and its been worked into the value of their Zestimate??

Thanks,
CasadeVilla
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October 22 2011
Home Prices can vary a great deal based on certain upgrades, views, lot size and many other factors.  Also just because someone is asking more does not guarantee that the house will sell for asing price.  I you would like a price opinion let me know. 

Thank you.

Tim  [phone removed by Zillow moderator]
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August 19 2011
 
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