Over the last few years we put over $40k into a home that has plummeted in value, especially in the last few months. Heck, the day I updated the home facts info, the zEstimate dropped! How can updating a home with over $40k in improvements cause a drop in the zEstimate? Also, is it true that values for zEstimates take into account foreclosures and short sales? A friend at a bank (head of collection dept) said they're not supposed to but after I told him how our value had plummeted over the past year he thinks that is what has happened. BTW, improvements included all new wiring (including upgrade from fuses to breakers), installation of central heat and air (previously one wall furnace and all window a/c), new roof, new windows, new plumbing (both home and to city supply), new siding.
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Updating facts with upgrade/renov dropped zEstimate. What's up with that?
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