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Answers (3)
- Vince Curtis, "SoCal Appraiser"
- Contributions:4699
A more correct value can be obtained from an appraiser at a cost. .... Zillow is free....
- Caveat Emptor
- Contributions:500
actually, for the record, thats how real estate agents, appraisers, mortgage lenders and everyone else does evaluations too.
if you just bought the house, its worth what you paid for it. whatever modifications you make to the home, that number should be in the back of your mind. don't expect your home to be worth 385,000 even after the renovations unless the market in your area will support it. most "upgrades" return less than 70% in "instant equity"
as for zillow, they dont know what you do to your home. you can modify the home facts and what not, but zillow can't compare "upgrades" from one home to the next. the best you can do is get a professional opinion and include it in the "comments section" also, while zillow does weight your recent sale price very heavily, if it was purchased under market because of neglect or foreclosure, and other homes continue to sell well, your home will eventually find an equilibrium zestimate.
if you just bought the house, its worth what you paid for it. whatever modifications you make to the home, that number should be in the back of your mind. don't expect your home to be worth 385,000 even after the renovations unless the market in your area will support it. most "upgrades" return less than 70% in "instant equity"
as for zillow, they dont know what you do to your home. you can modify the home facts and what not, but zillow can't compare "upgrades" from one home to the next. the best you can do is get a professional opinion and include it in the "comments section" also, while zillow does weight your recent sale price very heavily, if it was purchased under market because of neglect or foreclosure, and other homes continue to sell well, your home will eventually find an equilibrium zestimate.
- Cindy Quinton, "Cindy Quinton"
- Contributions:1322
Yes, the zestimate is heavily weighted by the most recent sale price. That is a big part of what a zestimate is. You can read more about them here: http://www.zillow.com/wikipages/What-is-a-Zestimate/
It is what it is...
It is what it is...
I am Very Frustrated with your Service and How you evaluate prices on Homes
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