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Answers (2)
- wetdawgs
- Contributions:26854
The Zestimate is a number using the core public facts of a home. The tax assessment value and/or an actual sales are the numbers used in the formula that will reflect condition.
It may be worthwhile reading this FAQ "what is a Zestimate?". A Zestimate is not an appraisal or a CMA. Zillow is only using numbers from public sources, and hasn't walked through your home to observe the new furnace and ac, kitchen remodel, beautiful floors, new gutters etc. So, the Zestimate doesn't reflect condition and is only a starting point for comparison of homes.
Looking at your Zestimate, look at the range and the trend lines for the community. The range IMHO and community trend are far more important than the specific number called a Zestimate. Is your home following the trend lines for the community?
It may be worthwhile reading this FAQ "what is a Zestimate?". A Zestimate is not an appraisal or a CMA. Zillow is only using numbers from public sources, and hasn't walked through your home to observe the new furnace and ac, kitchen remodel, beautiful floors, new gutters etc. So, the Zestimate doesn't reflect condition and is only a starting point for comparison of homes.
Looking at your Zestimate, look at the range and the trend lines for the community. The range IMHO and community trend are far more important than the specific number called a Zestimate. Is your home following the trend lines for the community?
- Kristin Calendine, "Kristin Calendine"
- Contributions:1
Some home values are based on property tax values. When a market area systemically depreciates, due to distress sales in the area, the entire market area may decline in value. Even if you update/upgrade your home, the market can have an adverse effect on your value.
Why did my house depreciate to the same prices as houses around me? Mine has always been $50k more.
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