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Why is the estimated value of my home so low ($554,500)?

Our home located as 78 River Trail Drive in Palm Coast, FL was recently appraised at $900,000+.  A similar home not quite as large as ours recently sold at 129 Front St, Palm Coast, FL for $940,000.  We have similar locations.  That house is smaller than ours but has a boat house on the ICW.
  • October 28 2011 - Palm Coast
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Answers (3)


If you pull up your home on Zillow you will notice that the homes around you are "zestimated" just under $300,000 to just over $500,000.  Those values come from a variety of sources, primarily tax records and then recent sales. 

Automated systems and tax assessments normally do not have the ability to take into account different views, upgrades, etc. and normally compare apples to apples with square footage and age, style-and of course neighborhood. 

Also,  the owner of the home claims it on Zillow, they can then go into the system and add value which sometimes inflates the one or two you see in your neighborhood that are much higher in "zestimate". 

Hope that helps a bit with your question!
  • November 03 2011
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Zillow is a great tool for people to get an overall idea of the real estate market.  They use tax roll information to determine their 'Zestimates."  The only way to get a more detailed look at the market value of your home is to hire a licensed appraiser or to ask a realtor for an in depth Comparative Market Analysis.

Good luck!
  • November 03 2011
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Profile picture for Blue Nile
Possibly these "recently solds" had something to do with it?

Also, the last sold price and date is not present on the home details page, and that has a major influence on the estimates.

The tax assessed value also factors into the estimating method.
  • October 28 2011
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