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My home estimate is extremely low for simialr homes in my neighborhood - why?

Zillow values my house at $417/sq ft while other comparable homes in my Los Altos Hills neighborhood are valued at $650-700/sq ft.  My house is 6417 sq ft, 5 years new, and built commercial grade (hambro truss flooring/ insulated concrete form walls, granite everywhere, hardwood floors, etc).
What gives?
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November 07 2010 - Los Altos Hills
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Answers (4)

Hi,

I would also include an explanation about the sq. footage discrepancy, so people understand the reason for the difference.

All the best,

Arpad
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May 16 2012
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The county records has the total living area as 4,524 sq ft. 

This does not include the lowere florr area that is considered basement by the city which is an additional 1,433 sq ft.

The entire lower floor opens out to the hillside.

Also, the attached garage is 461 sq. ft.

The total square feet not including the garage is 5,927 sq ft.

Can you update this in the Zillow information to get the correct estimate?

6 year old, ultra modern, high end 5,957 sq ft home.

Thanks,
Nick - hme owner and general contractor for the house.
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February 11 2011
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Hi nerndt -

Wetdawgs is right. The $/sqft is still based on 4,525 square footage and the Zestimate does not currently reflect yet the new value based on your updated square feet. Please note the Zestimates are updated three times in a week and it will take weeks to months to change. We would still advise you to update your county records so that the most recent home information will reflect on your home details page.

Thank you.
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November 09 2010
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If you calculate using the 4500 square feet of "living area" claimed by county records, your house is in the same ranges as your neighbors.  If you use the 6417 square feet that includes garage (never included in square feet) and finished basement (rarely included in square feet), then it drops to the $417.

It appears that Zillow has taken your edit of square feet for the $/square feet calculation, but not yet updated your zestimate to reflect the square feet suggested.

If you are planning to sell soon, you might find that buyers are put off by including the garage in the square feet calculation.

Zestimates don't take into account upgrades.  That is shown through the "owner's estimates.
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November 07 2010
 
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