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RE: Improving Property

We have done a major work on the our property, adding a 3 car garage, 800 square feet, a bathroom, bedroom, kitchen etc.  However when I added the details it was not reflected in the price.  Today I received an email telling me the price went down, why is this?

Julie
  • August 31 2010 - Old Evergreen Highway
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Answers (4)

Hi Julie

Since Zillow is using public records to determine the value of your home it may take some time for it to show up in the zestimate. To get the quickest and most "real time" estimate of value an appraiser or broker would be a good call.

Andy Weiss

  • August 31 2010
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Depending on your location Zillow Zestimates may not be accurate. Since it is based on sold properties around you, one has to look how long ago a comparable property sold. This system is all automated off county records. An broker/appraiser can give you a more clear image of your current market value
  • August 31 2010
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Profile picture for nwhome.us
When you say "added the details" does that mean you Created your Own Estimate?  The software will not guess at what you paid for your improvements nor will your improvements add the same value that they cost.  Here is a handy guide to Cost vs Value from Remodeling Magazine.
Aside from all of that unless you live in an unusual neighborhood, values will continue to swing up and down all of the time given what happens in your area over all.
  • August 31 2010
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Profile picture for wetdawgs
Zestimates often adjust when one has added square feet in remodeling, but it takes several weeks for the updates to show in the Zestimate.  I've monitored a couple houses after updating square footage recently and one updated in about two weeks, the other took 8 weeks.

According to your profile you edited the home facts yesterday, so be patient.   The E-mail you received today hasn't taken into account your edits.

  • August 31 2010
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