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Answers (2)
- WAAAAAAAAAAAAAA!
- Contributions:1
[edited by Zillow moderator. Please refer to Good Neighbor Policy]!!
- Pasadenan
- Contributions:21466
It isn't listed as "more valuable". Those are only machine generated opinions of approximate value from public records information only, modeled to the recently sold prices for non-distressed sales.
Primarily, Zillow's software uses 9 variables:
1) house sqft
2) lot sqft
3) # bedrooms
4) # bathrooms
5) # stories
6) year built
7) tax assessed value (adjusted for local rules)
8) last sold price extrapolated from sold date
9) covered parking (if in the county records).
The items that usually create the discrepancies are 7) tax assessed value (adjusted for local rules) and 8) last sold price extrapolated from sold date.
If the property was held a long time, there is no way for the software to know if there were improvements or deferred maintenance, so just an average condition is assumed.
Zillow's present modeling method weights those two variables quite high, so they often overpower the living space, lot size, and # of bedrooms.
Primarily, Zillow's software uses 9 variables:
1) house sqft
2) lot sqft
3) # bedrooms
4) # bathrooms
5) # stories
6) year built
7) tax assessed value (adjusted for local rules)
8) last sold price extrapolated from sold date
9) covered parking (if in the county records).
The items that usually create the discrepancies are 7) tax assessed value (adjusted for local rules) and 8) last sold price extrapolated from sold date.
If the property was held a long time, there is no way for the software to know if there were improvements or deferred maintenance, so just an average condition is assumed.
Zillow's present modeling method weights those two variables quite high, so they often overpower the living space, lot size, and # of bedrooms.
Why is our next-door neighbor's house listed as more valuable than ours?
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