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The Zestimate is not including entirely new vinyl siding

My home is 10222 Acworth Dr, Glen Allen VA 23060.  I bought it in Dec for $165,250 and it was in terrible shape inside and out.  I have completely renovated it, inside & out:  Vinyl siding, roofing, totally repainted inside, replaced floors, carpeting, appliances, kitchen countertops/sink, all  new bathroom fixtures and lights, new fans in all bedrooms. 

Every other home on this block, and all but one has vinyl siding, has values of $220k+.  Please help me undersxtand why my home is at $182,500.
Thanks you.
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February 01 2012 - Glen Allen
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"Appliances are "personal property", not "attached", and thus not part the house value."

This depends on what is customary in your marketplace. In the metro DC area appliances typically always convey with the home, so they certainly would contribute to the home's value...
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February 02 2012
What I recommend you do, is go in, claim the home and then show the upgrades, put it in the remarks section if you have to....it won't change your zestimate but it will give anyone checking out your home a sense of what you have done. Realtors use the Multiple Listing Service MLS to do comparative market analysis on homes and Appraisers come out....that is the only way I know of really knowing what your 'Current Market Value' is. Zillow is a guesstimate of value, thats why they call it a Zestimate. 
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February 02 2012
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When you purchased your house at $165,250 that is the value of the home on that date.  The Zestimate formula adjusts for this sales price.   Zillow doesn't know that the house was a fixer upper, nor that you've been working hard fixing it up.     Apparent bargains gradually see their Zestimates tend to come more in line with the neighborhood.  

I hope you are enjoying your new home, with at least a few minutes to put your feet up between your energetic fixing up.

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February 01 2012
Zillow has never taken improvements since purchase into account on their Zestimates.  The last sold price has a major impact on the estimate.

They do take into account your new vinyl siding, roofing, flooring, counters and painting on the "my estimate", but Russ posted this week that it will be a least another couple months before we can expect to see that back on line.

Appliances are "personal property", not "attached", and thus not part the house value.
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February 01 2012
I know it is frustrating to have the zestimate be inaccurate... but I wouldn't sweat it to much. zestimates are rarely accurate portrayals of actual market value.  If you want to get real world look at what your home might sell for based on your recent upgrades, contact a local REALTOR to come out and do a CMA for you.  Most of us happily do this for free. 

If you have additional renovations planned you should really have a pro come out first to make sure you do not over-improve for you neighborhood.  Hopefully you already have your eye out for this common mistake that renovaters make.
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February 01 2012
It is extremely affected by the very recent sale price. How would Zillow know about the upgrades, they use public info. Did you go let them know at the tax assessors office that the home is now worth more like $220k?

Here is more about zestimates: http://www.zillow.com/wikipages/What-is-a-Zestimate/

Don't forget to claim and update any info that is missing about your home.
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February 01 2012
 
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