Overnight Drop in Home Vaue

Profile picture for Worthy
Just noticed my home went from $265,000 to $225,900 overnight.  Also the historicals reflected a drop over the past year that is not reflective of the day-byday historicals I recorded.  Is this an error.  Otherwise, my home value have lost $40,000 value in one day.  Can someone explain?  Further, the historical trend chart was dramatically altered from a few days ago.
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June 14 2011 - California
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Answers (2)

Profile picture for Brett_Frosaker

I read this earlier (below): Unfortunately, "improvements" equate to a lower valuation for you.  But keep in mind, the Zestimate is only a starting point for determining value.  Only the market determines the real value. Keep your eye on neighbors and visit open houses.  That is how brokers are able to quote a price seemingly out of thin air.  All those houses we have coursing through our memories culminate into a flash opinion like chicken sexters. 

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Zillow Announces Zestimate Improvements

Russ Hatfield, "RussHatfield"

Contributions:214

Starting this evening, we have expanded and improved our database of nearly all homes in the U.S., adding more data on more homes and improving the accuracy of our proprietary Zestimate® home valuations.

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June 14 2011
Profile picture for wetdawgs
You can read more in the FAQ here.  and Zillow's blog here.
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June 14 2011
 

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QuestionOvernight Drop in Home Vaue
  • Latest answer by Brett Frosaker
  • June 14 2011
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