Why did Zillow lower our home price by 6500 in one month ???

Profile picture for peacefulinct
We spent considerable time and effort adding all the upgrades/improvements to this site that we have done. Plus added photos to verify. We told you that our house came in @ 251,000 in 2006 and doing additional /upgrades and improvement our estimate is now 270,000. The home across the street from us sold for nearly 500,000 last summer.This is unacceptable. Is there any way we can contact you directly other than e-mail? My name is Steve and I can be reached @ 860-974-2302
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September 03 2010 - Woodstock
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Answers (2)

Profile picture for Larry Tollen

Steve,

 

You should relax and ignore your Zestimate. It's means less than nothing and only the most naïve of potential Buyers would pay much attention to it.

 

Zillow has never seen your home, never been to Woodstock, and in fact knows very little about your area other than from some assorted public tax data  that may or may not be up to date. 

 

It a free service that is more about offering Sellers a place to list their homes for sale and the offer of a  Zestimate is solely designed to drive traffic to their site.

 

If you want a real valuation contact a local Realtor who has been working in your area for at least 5 years, alternately contact and pay for a licensed appraiser to appraise your home.

 

Getting upset and investing too much energy in something like a Zestimate is like getting upset over the results of a silly magazine personality quiz; it's pointless and shouldn't be taken too seriously.

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September 04 2010
Profile picture for wetdawgs
When doing edits hoping to affect Zestimate, be aware that it takes six to eight weeks (plus or minus) for those to be reflected in the Zestimate.  As you edited facts on August 22, the clock is still ticking.  Anything that has changed in the interim is more likely due to change in comps in your neighborhood.   Is the house that sold part of the comps on your house or was that a year ago?  

Only certain modifications affect the Zestimate,  additional square footage or rooms are the most likely.   Upgrading kitchens, bathrooms, new floors and many other things that do add value to a home are not part of the calculations.  

Don't put too much weight on the Zestimate. 
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September 03 2010
 

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QuestionWhy did Zillow lower our home price by 6500 in one month ???
  • Latest answer by Larry Tollen
  • September 04 2010
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