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Why is my home estimated at such low price.

Hi,

Our home is 1790 26th Ave Ne 98029. this is 2320 sqft and lot size is 5000.
I see houses around our neighborhood which are estimated around 20K more than our house, even though they have smaller lot size etc.
Can you guys look into why this is happening? these are all built around the same time. 2003-2005.
  • August 17 2011 - Issaquah
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Answers (3)

The '2460 NE Ivy Wy" is sold for $359,029 (not $259,029).
By the way, even with the differently method of estimate, the followed link has the similar number to your property's Zestimate, which may explain your property's Zestimate.

http://homesand.net/Quick ... 029?Map=1
  • August 17 2011
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Excellent and informative reply Wetdawgs. 

Zestimate and actual sales price very rarely coincide.  If some neighbors have zestimates a little higher than yours or even a lot it doesn't really mean anything.

Some good comps for you.
1904 24th Ave NE 1890 SF pending at $380K list price
1787 28th Ave NE 2710SF pending at $440K list price

2415 NE Jewell Lane 1890SF Sold for $419,000
2460 NE Ivy Wy 1890SF Sold for $259,029

Your listed price appears to be high by about $50k.
  • August 17 2011
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Profile picture for wetdawgs
Zillow doesn't tend to do house by house re-evaluations of Zestimates.   As an outsider, I consider it notable that  in your neighborhood two relatively similar houses have sold in the last year that sold at approx $100 k less  than your Zestimate.   Examples include this one and another one.  Were they foreclosures?   Therefore, I'm quite surprised how high the Zestimates are for your home and immediate neighbors.  Check the Zestimate range on the property details page as well as  the Zestimate Values and Accuracy for your area for perspective on the +/- 5% variation between houses.   You are doing quite well to have an asking price and a Zestimate within 5% of each other. 

Good luck with your selling.  May it go quickly and smoothly.





  • August 17 2011
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