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Answers (2)
- Vince Curtis, "SoCal Appraiser"
- Contributions:4699
http://www.zillow.com/wikipages/What-is-a-Zestimate/
Dont get too worked up on whether your Zestimate went up or down. Your real VALUE will only be found if and when you sell it, not before ...
Dont get too worked up on whether your Zestimate went up or down. Your real VALUE will only be found if and when you sell it, not before ...
- 1741farmhouse
- Contributions:3
Zillow decided their estimates were wrong over the last 6+ years and decided to make up a new history by using a new formula to create their estimates.
It's kind of like the stock market deciding that their numbers were incorrect all this time and the Dow was never actually at 14k back in 2007 so they rewrite history to show what they think the Dow should have been at the time.
Because, in the last month and a half my home has dropped 130K risen 20k and then dropped another 60k. Meanwhile my "30 day change" only shows small changes or changes that do not relate to the current price.
Additionally, the estimated price history of my home has completely changed from showing that my home was worth more than what I bought it for back in 2006 to showing I paid more 100k more than what it was worth.
That isn't "updating their formula", that is making up their own history and devaluing the product that zillow is trying to offer.
It's kind of like the stock market deciding that their numbers were incorrect all this time and the Dow was never actually at 14k back in 2007 so they rewrite history to show what they think the Dow should have been at the time.
Because, in the last month and a half my home has dropped 130K risen 20k and then dropped another 60k. Meanwhile my "30 day change" only shows small changes or changes that do not relate to the current price.
Additionally, the estimated price history of my home has completely changed from showing that my home was worth more than what I bought it for back in 2006 to showing I paid more 100k more than what it was worth.
That isn't "updating their formula", that is making up their own history and devaluing the product that zillow is trying to offer.
Why has my house price dropped 40% in one month?
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