- Find a Real Estate Professional
- Realtors®
- Mortgage Lenders
- Home Improvement Pros
- Other Real Estate Services
- Review an Agent, Lender or Pro
- Marketing on Zillow
- Real Estate Agent Advertising
- Join the Professional Directory
- Popular
- Real Estate Market Reports
- More
Answers (2)
- 2143 Kenton Lane
- Contributions:8
Hi David,
Thanks for the response... much appreciated! The numbers that I have cited are based on actual Zillow Zestimates. In fact, as of 6-27-2011, I had received an e-mail from Zillow that our home value had increased again 1.1% to $462,000. And, on July 1, 2011 our house decreased $19,000 while our next door and cul-de-sac neighbors increased almost as much. In addition, the "new" Zillow formula already had a dramatic downward effect when implemented on June 13, 2011. Something must be wrong with the comparative valuations in our neighborhood!
- David Hill, "hilldr"
- Contributions:73
Are these numbers based on the Zillow Zestimate?
Zestimates, like other automated valuation models (AVMs) are limited to whatever data is pulled from public records and are notoriously inaccurate. The $100,000 you've put into the property is not likely to be factored in to the zestimate.
For an accurate idea of what your home is worth I suggest having a real estate agent prepare a Comparative Market Analysis (CMA) for you or get an appraisal.
Zestimates, like other automated valuation models (AVMs) are limited to whatever data is pulled from public records and are notoriously inaccurate. The $100,000 you've put into the property is not likely to be factored in to the zestimate.
For an accurate idea of what your home is worth I suggest having a real estate agent prepare a Comparative Market Analysis (CMA) for you or get an appraisal.
Why have the values of my neighbors homes went up so much, and our house has declined in value?
My next door and cul-de-sac neighbors homes have all gone up in value in the past two months, and as of 6-24-2011, our home had as well. However, somewhere between 6-24-2011 and 7-1-2011, our home value declined around $19,000 while our next door and surrounding neighbors homes went up again. We have put almost $100,000 into our house in the past two years, which is outlined in our home description. So, given the fact that our neighbors homes have increased significantly in value (and until 7-1-2011, ours had as well), why has our home decreased so dramatically ($19,000) in value in just 7 days.
Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.
We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.