Why are there such differences in price of like homes on the same street? Example my home is larger

than my neighbors home and I have a finished basement with a swiming pool (I realize you normally don't get the total cost of a pool added to your value but a completed basement with a full bath)  yet there home is valued at $70.000 more than by home? I don't get it.
  • November 29 2012 - Waldorf
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

 
 

Answers (2)

Hi Rodney,

The list price does not determine the value. The "value" of the home is typically determined by the appraisal. However, another way to determine the "value" (that is acceptable) is by actual sales of similar homes. 

Also, unfortunately homes in the same neighborhood are sometimes put into the same pricing bracket, even though the homes may have different values. Making sure that your home is priced well is where your Realtor comes in. It is important that your home is comparable in price to those of the same size.

If you would like a comparative analysis for your home, feel free to contact us. 

Wishing you the best.

Tyra
  • November 29 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

There could be many reasons why.  Their agent could have priced the house incorrectly, maybe they have updated kitchens and baths, different model type with more square feet.  Its hard to tell without getting all the details.
  • November 29 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.