Why is my zestimate so low?

Profile picture for robmatey
Why is my house's zestimate so much lower than my all my neighbors? My house is estimated at 177k. It is 50-70k less than all the other 2 bed 2 bath houses surrounding me. It seems to keep dropping while everyone around me stays in the same range (230,000-260,000). I keep track of the sales in my area and they're always in that range - even higher. Square footage is similar and in fact my house is newly rehabbed in every way with high end finishes. It's very strange. I live on the best street in the neighborhood too!
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January 27 - Riverside
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Profile picture for realtormarney
Rob, what I have found when questioning Zillow, is that it may depend on the property taxes you pay, when the house last changed hands, and other data that should not have much bearing on your house's value. Zillow's Zestimates are often far off in our area, so it should not be used to determine a home's value.
I hope this helps!
Thanks!

Sincerely,
Marney Kirk
Keller Williams Excellence Realty
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January 27
 
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DiscussionWhy is my zestimate so low?
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