Why did the Zillow estimate on my house drop recently, while my neighbor didn't change?

Profile picture for Paul McD
house is question, 28857 Salem, 48334 is usually valued 10k less than the neighbor's   Recently Zillow dropped my valuation nearly 30% without significantly changing the neighbors value.  At the same time, a forclosure expert is trying to purchase my house..  Has he been able to influence the zillow valuation?
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June 23 2011 - Farmington
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Answers (3)

Profile picture for wetdawgs
Zillow rolled out a new algorithm for the Zestimate on June 13.   You can read more here.   You will note in the discussion in the link that you are not the only one who has seen their house take a substantial drop when other houses remained steady.

The foreclosure expert has nothing to do with it.  

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June 23 2011
Profile picture for Paul McD
what facts changed to cause such a drastic drop/change in valuation in the last month? remembering the neighbors house didn't change and I didn't change any of the facts of my house recently.
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June 23 2011
Profile picture for RealtorGrandRapidsMI
The Zestimate is a starting point in figuring out the true value of a house. For one thing, the amount of data Zillow has affects the Zestimate accuracy. If your home facts are incorrect, you can update your facts, which may affect your Zestimate value. 
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June 23 2011
 

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