Profile picture for Mountain Man 7150

We purchased home for $85.5 and recent value went to $84.5

The strnge thing when we first Purchased Prop Your Zillow Estimate was around $167
in that Neighborhood. and now shows value lower than anybody in the neighborhood.
whats up with that. look in your record. its way Off.. other values from others are still showwing around $ 170k  we have also put  $ 50k into total renevation. Values could have not gone down like that.. 
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June 15 2011 - Colorado Springs
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Answers (4)

Profile picture for Cocojoe
You really can't go by what zestimates say.  Their computers have no way of knowing you put $50K into a home.  You can claim it as they say and adjust the value yourself but it won't affect what zillow zestimate will say.  The picture of my home was taken as long as 6 years ago and since then the entire property has changed from additions to completely redone landscaping... yet zillow can't take that into consideration.  I don't know how often they update their photos but obviously they don't do it very often.  I actually got a response from a zillow person tellign me it was just an estimate and shouldn't be taken seriously.  What does that tell you about them when they are saying things like that.  Realtors here are just trying to justify what zillow values are to try to get potential business so they just have their agenda too so they can't be taken seriously either.  Good luck to you.  This country is in deep trouble.
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June 15 2011
Profile picture for Vacuum Man
You are trying to tell me that just becouse we purchased our Home for 85K
thats what its worth.?  I said in  the begining of my message to You. When we first purchased Prop Zillow stated we were worth $ 168  and now only $ 84
do You see what Im getting at ?  so the prop next to mine with almost same sq ft and  Build and land is worth almost 100K more than mine. can you acually look into this and give me a real reply not a generic one. Appreciate it
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June 15 2011
Zestimates are often accurate/close to accurate, but not always. The other homes that are still valued at 170k in your area didn't recently sell for 85.5k. Try claiming the home and adding the information as to what was done to improve the home after it was purchased at 85.5k.
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June 15 2011
Profile picture for wetdawgs
You  may be interested in this FAQ and this Zillow blog for more information.  (Yes, they calculated retroactively).
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June 15 2011
 
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