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My house is exactly the same as my neighbor, but the Zestimate is $26,000 different?

My house is exactly the same as my neighbor, but the Zestimate is $26,000 different.  They are literally the same house.  One of four that were built at the same time in 1923.  Both of our kitchens have been remodeled.  Same square footage.  Same layout.  15' apart.  Yet her Zestimate is $26,000 more than mine.  Why would that be?
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October 07 2011 - Sunnyside
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Answers (4)

Zillow and the County Tax Assessor often list prices that are not in line with the true value of your home. Are you considering a move? I can complete a market analysis of your home's value and send you a detailed list of everything that has sold recently. This will be far more helpful than guesses from the county or Zillow.  Your home might prove to be worth far more than Zillow has guessed.
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April 11 2012
Hi Jason,

It's hard to tell why Zestimate has valued your home drastically different than your neighbor.  My best guess would be that the source the information is being pulled from is more updated for one home than the other.

The best way to get an accurate estimate for your home'v value it to have a knowledgeable realtor creat a Competitive Market Analysis.  In doing so, I always take into account: neighborhood appreciation, attributes unique to your property, current market conditions, among other attributes. A home's current market value is truly what Buyer's are willing to pay for a home.  So, looking only at the basic/bed/bath/SF doesn't measure its market value as accurately as an expert in the area.

Due to the age of your home, I suspect you are in Central Denver.  I am always out previewing homes and it is likely I have been in many homes in your area, which will hlep me provide lots of information towards the valuation of your home.  If you would like my help in valuing your home please contact me and I would be more than happy to help you.

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October 13 2011
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There are two factors in calculating a Zestimate that are likely to be different - tax assessed value and purchase price (adjusted for date).   Those two factors can often create differences in Zestimates of identical houses that are >10%.     Without knowing your houses, it is hard to put $26k in perspective.

Take time to look at the Zestimate range for both houses.   Is there considerable overlap?
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October 07 2011
Zillow has not seen your property or hers.  Each of you are getting a ballpark not a FIRM market value.
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October 07 2011
 
Related Questions
My house is exactly the same as my neighbor, but the Zestimate is $26,000 different?
Profile picture for Bob Gordon
Latest answer by Bob Gordon
April 11 2012 | 4 answers
  • Asked by Jason Munzer
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  • October 07 2011
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