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Answers (6)
Best Answer
- George Gervasi, "pegroup"
- Contributions:2
The short answer is: Economics- The overall economy and the influencing economic factors.
The long answer is: An expanded explanation and a macro/micro analysis of the economies, labor markets and housing markets. This is a very in-depth type of analysis which is often overlooked.
When you refer to the depreciation, where did you derive that data? From Zillow? (if so, then I wouldn't put too much stock in the data)
If your neighbors have truly similar homes, then the deprecation should be mostly even across the board. Of course there are differences in each of the homes, that would need to be addressed on a item by item basis in order to obtain a more exact figure of depreciation.
But if you are referring to a specific neighborhood or sub-division then all things being somewhat equal, i.e.- style, sizes, property condition, employment conditions, crime, etc, then depreciation would be similar.
The long answer is: An expanded explanation and a macro/micro analysis of the economies, labor markets and housing markets. This is a very in-depth type of analysis which is often overlooked.
When you refer to the depreciation, where did you derive that data? From Zillow? (if so, then I wouldn't put too much stock in the data)
If your neighbors have truly similar homes, then the deprecation should be mostly even across the board. Of course there are differences in each of the homes, that would need to be addressed on a item by item basis in order to obtain a more exact figure of depreciation.
But if you are referring to a specific neighborhood or sub-division then all things being somewhat equal, i.e.- style, sizes, property condition, employment conditions, crime, etc, then depreciation would be similar.
- Gershon Alexander, "Gershon Alexander"
- Contributions:60
I dont understand how zillow calculates their values
- Gershon Alexander, "Gershon Alexander"
- Contributions:60
its because the economy isnt good, and homes are sitting on the market and not selling- supply and demand
- Gershon Alexander, "Gershon Alexander"
- Contributions:60
Because their are more sellers than buyers and houses are just sitting on the market
- wetdawgs
- Contributions:26854
Sometimes when one looks at the one month change, it doesn't make sense. The next step to take is to look at the general trends for the Zestimate for the last couple of years - are the trends the same or is yours always dropping almost 5x faster? If the trends are the same, then the current month number being reported is merely a fluke.
- Frank Festa, "Frank J Festa"
- Contributions:1188
Squashfan, is your home the only one For Sale? Regards,
Why is my home value depreciating so quickly?
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