Profile picture for bowmanr

I recently updated my Zestimate info that would normally raise my home's value, it did not. Why?

You have done me and my neighbors an injustice.  I entered info in the edit section that should have raised the Zestimate considerably.  Instead, it dropped by $400.  You price it at $285,000, when that was the 80% of its then value , in 2009 when I refinanced it.  Even my property tax assessment for this year lists it at $315,000.  I planned to refy again at the current lower rates.  Now that is not possible,  What gives? Ron Bowman at 16437 8th Pl. SW Burien, 98166
  • September 18 2011 - Burien
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Answers (2)

Profile picture for sunnyview
It looks like you just claimed and updated your home 3 days ago. Although the updated facts show up on the page right away, it takes about 6-8 weeks in my area for updates on the page to have any effect on the larger Zestimate number if it's going to.

The things that seem to have the greatest effect are changes in square footage and bed/bath counts. The numbers you input will take a few weeks to start working their way into the larger numbers. Any differences you see right now are more likely being caused by sale prices in your area not the updates you made. I would give it a bit more time to give your updates a chance to work into the system.
  • September 19 2011
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Not sure if this will help you as it is very frustrating for even us as Realtors at times with the lack of communication (Info).
Value is not only based on features, upgrades/updates, etc.

Your home is compared to homes that have "Sold" recently. (30,60, or 90 days) When tax assessments are done & it is up to you the homeowner to grieve your taxes based on the current market conditions.  The town does nt have current updates.

Unfortunately in this market the foreclosures in all areas bring down the values as the banks do not take that into consideration.

As a homeowner in a Buyers market such as this one should not worry about the market unless you have to sell your home, as it only really effects your investment if you were forced to sell at this time.

Just take advantage of these Mortgage rates if you can, be sure to find out about forclosures in your area that maybe driving down the prices & find yourself professionals that will help you.

Best of Luck,
  • September 19 2011
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