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I would like to know why my home value dropped 20% in a month after I updated some of the attributes

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August 23 2012 - Santa Cruz
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Answers (3)

Sounds like quite an improvement!  So I am going to hazard a guess and that by adding the number of bedrooms, garage, etc. - that you moved your home into a different bracket, and compared to other houses in that bracket, your value dropped - perhaps it is a metric like square-foot-per-bedroom, i.e. before you had 532sf per bedroom, and now you only have 400sf per bedroom? 

I really don't know, but Zillow is just an algorithm and there are many things it doesn't and can't take into account.  Here in Santa Cruz, Zillow's valuation methodology is particularly weak, due to the eclectic quality of the housing stock.
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August 24 2012
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Thanks.  It dropped from $646k to $611 in 30 days.  I added 4 bedrooms instead of 3, 1600 sq ft instead of 1597, attached garage, shingles, built yr 1964 (not 1950), 2 sunken living rooms, hot tub.

Is that a negative instead of a positive that would decrease value instead of increase?  Thanks so much for your help on this

Daphne Lewis
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August 24 2012
Hi there!  Where did you update the attributes, here on Zillow?  If so, I'll have to admit I don't know, since the algorithm Zillow uses is, so far as I know, confidential.  However if you'll share with us what attributes you modified, I might be able to hazard a guess!  Thanks!
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August 24 2012
 
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