Profile picture for pokraka

Why is my home value so low compared to other homes that I KNOW are not as improved as mine???

My home is probably the nicest home on the block...  I'm not saying this because I'm biased, it's a fact... Why then is my home priced at $195K and other homes on the same block that aren't as well taken care or or improved priced int the $210's???  This is REALLY beginning to bother me quite a bit!!!!  If there is a logical answer I can accept that, but my logic tells me " if you improve your property you should get some of that back" and that's not happening from what I can see....
  • Question refers to 436 York Rd, Schererville, IN 46375
  • August 26 2009
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Answers (2)

There is a disclaimer or explanation of Zestimates at the bottom of the Zillow pages.  They tell you how much they can be off by, which is quite a bit in some instances.
Zillow is fun, but definitely not the place for any sort of estimate on home valuations.  Contact a local real estate agent for the lastest comps.
Most buyers use a Realtor.  We have to explain to them that the estimates on Zillow are not accurate too.
  • March 16 2011
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Profile picture for ChandaB
pokraka,  You cannot rely on a zillow estimate to determine the value of your home.  You would need a licensed appraiser.  My home has been completely remodeled right down to new studs.  Virtually everything is new in my home except the rafters, yet the zestimate continually goes down.  It's currently about $35,000 less than my property could realistically sell for at an agressive price.  I'm not sure what factors go into their estimates, but in various areas they are completely off.  For instance, I was showing a home a few months ago that had a zestimate of 185,000...Even the most expensive home in the neighborhood could only sell for 125,000 at best...

Long story short, please don't take the zillow estimate as the true value of your home.  You need a appraiser to do that...

Hope this helps....
  • August 26 2009
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