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Why does Zillow show this home with a valuation of $600K when it was just sold at auction for $300K?

  • Question refers to 10911 Jackson Dr, Eden Prairie, MN 55347
  • August 20 2009
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Answers (2)

Zillow can not determine a real value for a home.  They may be able to determine the general value in a neighborhood.  The Sheriff sale will be what price the lender that is foreclosing is willing to pay to keep the home.  I just helped a client buy a home like this that sold three years ago for 600k and my client is buying it for under 275k.  The lender did not want the home so they bid low.  
  • June 25 2010
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The auction you speak of was the sheriffs sale where the lender was acquiring the property in foreclosure. While I didn't verify the value of this property, the price a lender pays at sheriffs sale for a property bears little relation to it's actual value - either on the high or low side.

http://www4.co.hennepin.mn.us/webforeclosure/propertydetail.asp?salerecordnumber=0907430
  • August 20 2009
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