Profile picture for stashie

Why is my neighbor's identical house listed at $59,000 more than mine?

I live in Calabasas, CA.  Your site indicates that my neighbor's house, which is the
eexact same sq. footage and total lot size as mine is worth $59,000 more.
Please explain......
  • October 09 2009 - Calabasas
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Answers (5)

Zillows tends to up to 20% off. it is more guess that is within a range of accuracy.
  • August 23 2010
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Truthfully, Zillow often has incorrect information about values.  The best way to find out the value of a home is to have a realtor who is an area expert do the comps and due dligence for you.  Often the assessors information is old and not accurate perhaps because improvements have not been recorded so owners taxes are not increased.  I have noticed if a home has not been on the market for a number of years it may not have had the appreciation that one does that has sold a few times in the same amount of time.
These days there is no easy way to pricing a house.  There needs to be research and due diligence done on the house and the area.
  • August 22 2010
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It could be based on the tax assessors records.
OR
they may have changed ther home facts by registering as the owner of the property
  • August 21 2010
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Profile picture for darwin2
I have run into the same problem in Massachusetts. It makes no sense.
  • October 09 2009
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Profile picture for Ofe Polack
Sellers can list their properties for any amount of money they want, that does not mean that buyers will pay that amount.  You do not say if your home is also for sale, or whether that is what you feel your home is worth.  It would be interesting to see the assessed value of both of your "identical" homes.  Check the assessed value at the Assessor's Office of your town.
  • October 09 2009
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