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Why is the Zestimate of our home, compared to three identical homes to ours and only a few blocks

Why is the Zestimate of our home,  compared to three identical homes to ours  and only a few blocks apart so low?

Our home at 11808 Winding Woods Way, Lakewood Ranch Fl 34202, has 3 bedrooms, 2 baths and a swimming pool.. Lot size and square feet are similar

Our home Zestimate is $222,200

The other 3 comparable homes are:

11820 Winding Woods Way, Zestimate is $281,200

11864 Hollyhock Dr. Zestimate $252,500

6448 Fox Grape Ln, Zestimate $231,000

 

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June 21 2012 - Bradenton
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who maybe a king -> who may to be a king
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June 21 2012

Customer0000,
It is no used to do an appraisal in purpose to bring up your property's Zestimate, since Zillow uses no appraisal figures in their calculation nor a handsome guy, who maybe a king, who just sits behind his desk to look into one by one appraisal's papers to make an adjustment.
Zillow uses the Automated Valuation Model to estimate the home's values and its figures may change 3 times a week (that is what I heard). The point is that, that handsome guy can't re-adjust your home value 3 times a week, 52 weeks a year in 50 years (assume that you are still living in your home in next 50 years)
There is nothing to worry about if your home is not for-sale and if your home is for-sale it still doesn't matter since the buyers use no Zestimate in their home buying decisions, they compare your home with those, which are currently on the market.
Even if you are successful to bring up your property's Zestimate to $250K and you list your home at $240K, there is also another listing at $220K (Zestimate is $200K) just a few doors away, which has same condition as same as your house. Which house do you think that the buyer is going to buy?
Long story short -> do not worry about your Zestimate, just prepare a good barbecue with a few can of beers in this weekend is enough.

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June 21 2012
Zillow uses the purchase price as same as the tax assessment( and the listing price!) to estimate the home value, while their estimates are mostly good, they are off some time.

* The 11824 Winding Woods Way: Old listing $320K, estimate $281K
* The 11864 Hollyhock Dr. : Sale price $260K, estimate $252K (not sure if it is not a court step sales, which the bank takes the foreclosure home back)
* The 6448 Fox Grape Ln : Sold $230K, Listing price $242K, estimate $232K (also not so sure if it is not a court step sales, since it is just sold $230K on Jan. 2012)
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June 21 2012
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 I made a mistake , it should be 11824 Winding Woods Way. Thaks for leting me know
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June 21 2012

I don't know that where do you got the $281,200 figure but the '11820 Winding Woods Way's value is $162K per Zillow.com

http://www.zillow.com/homedetails/11820-Winding-Woods-Way-Lakewood-Ranch-FL-34202/45705244_zpid/

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June 21 2012
 
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