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Answers (3)
- TKindem
- Contributions:1
Zillow is a useful tool, but it is simply a program, and cannot account for the many factors that go into pricing a home. It may take recent sales data into account, but it cannot keep up with the small evolutions that take place in the market all the time. Perhaps Maple Grove has a slumping market. Perhaps the market for homes over 300K aren't selling at the moment. Perhaps this particular property had some major structural issues or special assessments levied compared to other houses in the market. It could be any number of factors. If pricing and selling homes were easy, there wouldn't be an industry of professionals who offer that service.
- rhvonlehe
- Contributions:2
I agree with your statement in the absense of recent sale data for a home. But there is very recent sale data. Why does zillow ignore this recent sale data and insist that the market will bear a higher price when it obviously didn't for this home?
- Lenny Frolov, "lennyshomes"
- Contributions:4
Zillow has a hard time differentiating between each individual home and since the values in maple grove tend to be high it uses overall values of the neighborhoods to give an estimate.
How is this value calculated?
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