Why are the very same unit or units in my condo bldg valued much higher?

Profile picture for exrealtor1985
I frequently check the value range of my property ( I was a realtor years ago), up to $17,000.00 less than the same units in my condo bldg Same size, and some in not as good condition, and why has the value of MY unit gone down 10,000.00 in one week? This makes absolutely no sense and the units that have been selling are 1.much smaller, 2. not in very good condition, 3.have not been upgraded except for a little paint and carpet. Aside from that there is no rhyme or reason for there to be such a wide span of value difference? Someone or something is very wrong. This should be investigated, and yes, I am aware of the drop in property values, but these are the same size, age and in the same building. 
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June 11 2010 - Villas
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Answers (1)

Profile picture for DiMovesU!
If you are talking about Zillow's valuation of your property, it is a well known fact that the formulations they use are not accurate and are no replacement for a professional CMA.  If you want a good figure associated with your property, the best way to deal with this is have your listing agent (if you have your unit listed), login to Zillow and put the value they came up with in their CMA evaluation in the listing description.
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June 11 2010
 

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Profile picture for Dianna MacLaren, CNE, CSP
QuestionWhy are the very same unit or units in my condo bldg valued much higher?
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  • June 11 2010
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