Why a sudden drop in just 30 days?

Profile picture for tuckerdognc
What would make a house that had shown an increase over the past year, and over the past three years suddenly drop in value? Especially if the area has actually shown an increase? What would be the indicator that was used? Comps? Taxes? Sales? Obviously, if fewer homes have sold and at lower prices the average in the area would go down. But, why would an individual home that was showing relatively stable value suddenly go down?
Question refers to 21 Sunny Ridge Dr, Asheville, NC 28804
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0Yes

August 12 2008
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Answers (1)

Profile picture for Jax Realtor
Recent sales is what makes a home's value go down or up.  Zillow's Zestimate is always a moving target.  I have a few investment homes that go up and down in price almost weekly.  At the end of the day, your value is truly set by the market around you.  The best estimate for value is to look at recent sales around your home, and factor in differences, ie. square footage, bedrooms and bathrooms, etc.  Hope this helps!

www.OfficerRealty.com
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0Yes

February 20 2009
 

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