Why is my neighbors same floor plan on smaller lot $33,500 more in zillow?

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We decided not to buy that lot, it backed up to huge power lines that loomed over the back yard. We added a larger garage and $50,000 in upgrades, now zillow prices that house at 377,500 and mine at 344,000. Is this crazy?
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April 13 2010
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Answers (2)

That's why Zillow states their 'zestimate' can be off by 10%. The $300k floor plan can be zestimated from $270k-$330k. Quite a difference! That's why you should always call a local Realtor.
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May 27 2010
It is crazy! First, if their house is for sale then Zillow is showing a list price for their's and a zestimate for yours. If they are both zestimates, there are many reasons that might factor into the discrepancy on Zillow, but the zestimate by no means effects the true value of your house if you were to try to sell. The zestimate doesn't always take into account the unique qualities and upgrades that would add value to your home. Nor does it consider things like the power lines that would decrees value in the eyes of many buyers. The zestimate is just a rough estimate or idea, but a Comparative Market Analysis (CMA) on your house could give you a better idea of what people are paying for comparable properties today, and what someone might be willing to pay for our home. If you are considering selling your home, a local Realtor would be happy to provide a CMA. If you would like me to recommend a realtor with vast local knowledge in your area, I'd be happy to. I hope this was helpful!
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