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Answers (3)
- Debra (Debbie) Rose, "Livingston NJ"
- Contributions:2734
It's anyone's guess as to how zillow arrives at that magical number caledl a zestimate!!
Bottom lineis.......... as frustrating as it is to see a low valuation.........the best thing you can do is forget about it.
Zillow will not "correct" or alter your zestimate, even if you have valid proof that it is incorrect.
Follow the advice below.......first, "claim" your home , then edit the facts and add any comments you feel are relevant. This additional information may, or may not affect your zestimate, but your comments will be there for others to read.
Any serious buyer, working with an agent, or armed with accurate information, will rely on real sales - comparables - to help determine the price they will pay for a home.
Best wishes...........
Bottom lineis.......... as frustrating as it is to see a low valuation.........the best thing you can do is forget about it.
Zillow will not "correct" or alter your zestimate, even if you have valid proof that it is incorrect.
Follow the advice below.......first, "claim" your home , then edit the facts and add any comments you feel are relevant. This additional information may, or may not affect your zestimate, but your comments will be there for others to read.
Any serious buyer, working with an agent, or armed with accurate information, will rely on real sales - comparables - to help determine the price they will pay for a home.
Best wishes...........
- Delune Real Estate
- Contributions:9
Zillow estimates is not a precise science, but rather, derive a value based on a complex set of algorithms. I note that this (your neighbor's) home's value spiked in July 2011, approximately when it was put up for sale for a higher amount. This is a good example of how something like the listing of a property for sale will affect a Zestimate, even though it really should have no bearing on the actual value of the property.
The bottom line is that I would not worry too much if I were you. If and when you list your property, your Zestimate may go up as well, just like your neighbor's. Even if it doesn't go up, buyers know that Zestimates aren't always on the money and their agents will inform them of this. The appraisal will confirm it as well. Finally, when you begin listing your property, your own agent should be preparing for you a CMA (comparable market analysis) that will look at comparable properties and derive a much more precise estimate of value.
There is one small thing that you can do in the meantime, which is to click on the "Edit" button on the screen that shows your home and update any inaccurate facts (e.g., square footage, number of rooms, etc.). Zillow will often update its Zestimate based on such edits.
Take care,
Michael
The bottom line is that I would not worry too much if I were you. If and when you list your property, your Zestimate may go up as well, just like your neighbor's. Even if it doesn't go up, buyers know that Zestimates aren't always on the money and their agents will inform them of this. The appraisal will confirm it as well. Finally, when you begin listing your property, your own agent should be preparing for you a CMA (comparable market analysis) that will look at comparable properties and derive a much more precise estimate of value.
There is one small thing that you can do in the meantime, which is to click on the "Edit" button on the screen that shows your home and update any inaccurate facts (e.g., square footage, number of rooms, etc.). Zillow will often update its Zestimate based on such edits.
Take care,
Michael
- HomeSand.net, "White Picture"
- Contributions:4396
I don't know where is your home but the following links are for research, which by no means that it estimates your neightbor's home value correctly.
http://homesand.net/Quick ... 692?Map=1
http://homesand.net/Quick ... =CA?Map=1
http://homesand.net/Quick ... 692?Map=1
http://homesand.net/Quick ... =CA?Map=1
Prices are not accurate
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