Answers (9)
- Simon Mills, "Mills Realty"
- Contributions:1870
Assuming you are referring to the Zestimate the link will take you to an explanation of a Zestimate that should hep answer your question.
Simon Mills
Mills Realty
Simon Mills
Mills Realty
- Nathaniel Pitchon-getzels, "Getzelshomes"
- Contributions:103
I agree with Vince that the "zestimate" is irrelevant with respect to real estate transactions. One reasons values may change is the registered owner has modified the improvements of the home.
- Vince Curtis, "SoCal Appraiser"
- Contributions:5454
This typical question comes up quite a bit - why are identical properties on the same block different values on Zillow ? Its simply the algorithim Zillow uses in arriving at their values, and sales history of the Subject property plays into it most likely. 'True' value is in the eye of the beholder (or computer algorithim).
Though you did not mention it, yes, go with a Realtor and a CMA if you are thinking of selling. Or an appraiser - which you can find here - if you are refinancing your home.
But again, why worry about it when all these different value sites are different ? Youll only find out how much your home is worth when you go to sell it.
Though you did not mention it, yes, go with a Realtor and a CMA if you are thinking of selling. Or an appraiser - which you can find here - if you are refinancing your home.
But again, why worry about it when all these different value sites are different ? Youll only find out how much your home is worth when you go to sell it.
- Stephen Katz, "KatzMortgageTeam"
- Contributions:46
There are probably a good agent or appraiser in your area that could investigate the true value of the homes that you mentioned. They could look into the history and location of the houses (which is the major factor in the value of the house) and probably research any debt the property still owes the bank (which is another factor in the value of the property).
Luxurious amenities in this state of the economy does not improve the value of the property.
Luxurious amenities in this state of the economy does not improve the value of the property.
- Frank Bernardo, "FrankBernardo.com"
- Contributions:86
I disagree. I do not believe an appraiser is the best way to go if you are going to sell. If you are going to sell talk to an experienced agent who knows the ins and outs of the business. [content removed by moderator]
- Vince Curtis, "SoCal Appraiser"
- Contributions:5454
Like Richard said, dont read too much into it. Its only a guess, NOT the reall value of your property, which will only be found when you go to sell your property.
Those properties which have sold more recently, ie your neighbors, appear so have to have higher values (compared to similar size homes) in uptrending areas, which this zip code is. Values will also change constantly, based on new data.
Those properties which have sold more recently, ie your neighbors, appear so have to have higher values (compared to similar size homes) in uptrending areas, which this zip code is. Values will also change constantly, based on new data.
- Frank Bernardo, "FrankBernardo.com"
- Contributions:86
zillows program is computer based and could pull any info. this data base is also managed by the owners and people on here. if the owner sends info to zillow saying yeah the other houses are bigger but we have xyz and ours is better zillow will take that into consideration. there is alot of info that goes into determinig price on the property. beds baths age upgades time on the market orientation to freeways and non residential buildings. most people think agents jobs on determining value is easy but its not. there are alot of factors that come into play. www.frankbernardo.com
- Natalie Feldman, "nataliefeldman"
- Contributions:282
In order to get a current, accurate value of your home, the best option would be to contact a local agent for a CMA (comparative market analysis). This is a service most agents will do for free. It will take into consideration the specifics of your home and compare it to those properties near by that have the most similar characteristics. I would be happy to answer any questions you have.
Natalie Feldman
GreenRock Real Estate Solutions
Natalie Feldman
GreenRock Real Estate Solutions
- Richard Schulman, "RichardSchulman"
- Contributions:2250
Zestimates are only estimates and should not be read into too much. They don't take into consideration a variety of factors. The true value of a home can best be determined through an appraisal, or a Comparative Market Analysis, generally done by an experienced agent in your area. This takes into consideration recent sales comps and current market trends. If you need any further help determining home value, please feel free to ask.
Richard Schulman
Keller Williams Realty
Richard Schulman
Keller Williams Realty
Why is the value of one home less than the next door neighbors?
Ross
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