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Why did my home value drop in half when the rest of my nieghborhood is increasing in value?

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May 10 - Phoenix
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Answers (1)

Zillow uses their own proprietary figure that they attached to your home.  The amount is based on a formula and that amount can vary from home to home.  The Zestimate is the not the appraised value, fair market value, or amount that your home would sell for if the house was put on the market for sale.  If you are using a Realtor to list your home for sale, ask the agent about how to overcome this challenge with an inaccurate Zestimate.
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May 11
 
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