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Why did my home value drop 12,500 in one month?

8 Delano Lane Dennis Ma 02638  The other half of Dennis MA near Seagrove rd did not drop and the aear isnt as nice?



Maura-cape@hotmail.com
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May 01 2010 - South Dennis
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Answers (4)

Profile picture for SoCal Engr
It didn't. Zillow's Zestimate dropped $12.5K, and the two are not the same.

Use the Zestimate for what it is, a rough first-cut estimation and a fun tool if you're not serious about selling/buying. It saves on indigestion from attempting to track the Zestimate roller-coaster.
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May 03 2010
Something near you must have sold that Zillow used in its online calculations. I wouldnt worry too much its only an estimate. Make sure you claim the home and keep your facts updated
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May 03 2010
Lisa is right. Zillow will often, however, factor in properties that are not "like" properties which can throw off the value. The only way to truely obtain market value of a property is through a Realtor or an appraiser and the Realor's market analysis is free. :-)
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May 01 2010
Hello Maura,

In some cases it depends on assessed values and recent home sales. If the homes sold in Dennis in the past 3 months sold for less than the previous 3 months and the tax assessments have been lowered the computer takes these variables into account and comes up with what it thinks based on statics. Your home may not have depreciated, but to know for sure I would suggest contacting a local Realtor or two and have them come do a Comparative Market Analysis. Only when an actual person see the home can the value be set. Or if you like you can also contact a appraiser, either are great resources.

Feel free to contact me direct, if you like. But I'm sure other Realtor s will also reply to your concern today.

Lisa
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May 01 2010
 
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Why did my home value drop 12,500 in one month?
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May 03 2010 | 4 answers
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