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Why is it that the value of this property has consistantly gone down ?

Since the first of the year, this property's value has gone down. Surronding properties have gone up. Why?? We recently added a 700 sq. ft. ag bldg.,a new secure gate system, etc. Should that not have an effect on our property value?? Are we being penalized for some unknown reason? I am rapidly losing my confidence in Zillow! As an example the property behind us has almost matched our property's value and is less than half the square footage Address is 6660 slug gulch rd. our address is 6620 slug gulch rd.
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June 09 - Somerset
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Answers (3)

Profile picture for Pasadenan
One should also note the estimate value range (70% confidence interval)
http://www.zillow.com/zestimate/#faq-1

Presently +7%/-5.2%  (30% probability the present market value is not within the posted range).
The maximum difference between December and Present was only 9.5%
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June 09
Profile picture for Pasadenan
Besides, I'm not seeing the decline claimed... I'm only seeing a correction for a random noise rise between August and January, most of which occurred in February.



And I'm not seeing anything on the home details page to indicate you revised the details to indicate a new AG building nor security gate, nor seeing anything in the Property tax records to indicate you reported an increase in value to the County for an improvement that you obtained a building permit for.
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June 09
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Zillow's estimate is not designed to be an appraisal, and revisions since purchase are rarely fully factored in.  An AG building is not residential square footage and likely would have minimal impact on the estimates.  Zillow estimates residential housing units, not the value of commercial farms.

http://www.zillow.com/zestimate/#faq-5

http://www.zillow.com/zestimate/#faq-2

http://www.zillow.com/zestimate/#faq-3
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June 09
 
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Why is it that the value of this property has consistantly gone down ?
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June 09 | 3 answers
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