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Per ZILLOW Empty Lot worth more than MY House on same lot!

Now explain how lots are worth $170K more than the adjacent lot with a house on it! Per Zillow we should all tear down the new houses... since empty land is worth more.

 

CAPE CORAL , Florida

1205 SW 54TH LANE, 33914

And yes I listed a Make Me Move price that was very high ($799K)....

My House at peak was valued at $832K. When I bought it in June of 2007, It was appraised at $730K. Since then I added 70K in improvements. Zillow valuation has gone from Nov 2007 of 680K to now $530K (below 2003 price excluding 2 buyers $150K in improvements since). They dropped my house another $55k (11 percent) last 30 days and for the first time ever I'm below my neighbors smaller house which dropped only $5.5K in the last 30 days,  The difference is not explained in the tax data. This was after I complained about the previous huge drop. In either case the empty lot near us is priced at $170K more than our houses. Interestingly they are valuating my house at $33 less per sq ft than the comparatives. And some of those comparatives are not even on the water or in our neighborhood , which lowered that COMP.

Regards

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March 25 2008 - US
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