Why is my estimated value so low?

My court has 13 homes and we are the fourth largest yet our value says 30,000 to 50,000 lower than our neighbors. Also I fully renovated the entire interior last year with new carpet, hardwood, ceramic, granite, stainless steal appliances with double oven, jet hot tub, paint, woodwork, and blinds. I would appreciate it if you could change the value of my home to something reasonable. 
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August 11 2013 - Olde Orchard
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Answers (6)

You need to contact an appraiser and get an appraisal done. They will be able to give you the actual market value of your home. If you need any additional information on what appraisers cover etc.,  [link deleted by Zillow moderator. Please see our Good Neighbor Policy for posting guidelines]

Good Luck,
Michael Nix
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August 12 2013
Appraisals, they cost money. Ask a friend or Realtor to run a Realtor Property Report to show the comps, value of the neighborhood and details of trends. These RPRs are new tools and they use actual MLS data. They can also send you monthly reports to help you understand how the values are changing, especially around you.

Best of luck to you,
Liz
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August 11 2013
The primary value determiner is current and recent sales that are close in proximity to your property.

For example, if there was a bank foreclosure or short sale that is recent and is close to your address, it will significantly affect your value.

Appraisal values use 3-6 sales as a way of keeping any single property from overly affecting the value on your report.

Zillow does not have a way of knowing your value or recent work done, since they simply put the most weight on recent sales.

If you are getting ready to refinance or sell, getting a full appraisal is a solid way of knowing the true value.
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August 11 2013
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August 11 2013
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Yeah like Zillow really knows the renovations you did, they go off of stats like number of bedrooms, square footage and what other homes in your area are selling for.
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August 11 2013
Profile picture for wetdawgs
Zillow's FAQ "What is a Zestimate?" describes the home facts that are used in generating the Zestimate and value range.     Zestimates are a starting point for home values and take condition into consideration except as reflected in a recent purchase price and/or tax value.

You can post your estimated value and comment in the Owners Estimate section indicating your support for a different valuation
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August 11 2013
 
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Why is my estimated value so low?
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