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Why has the estimated price for this home shot up @ 12,000 in the last 6 months!

  • Question refers to 4837 New Cut Rd, Louisville, KY 40214
  • December 21 2009
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Answers (1)

Carl,
I can only assume you are speaking of the estimated Zillow price for the home.  The Zillow price is based almost entirely on your inputted square footage, beds, baths vs. other homes that have recently sold in the same area. 

Recently, the New Cut area has had less foreclosures and distressed sales while the retail market has picked up some.  That would easily explain the uptick in your price estimate.

You may want to get a more detailed breakdown by comparing apples to apples.  Any real estate professional should be able to give you a market analysis that shows comparable homes in your area that have sold in the last 3-6 months.  You can also visit www.louisvillemarket.com for a free market snapshot that lists homes in your area that have recently been listed, sold or expired as well as a comparison of list vs. sold price. 

  • December 21 2009
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