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Why is the zestimate of our house (288 Orange, Ashland, Oregon) less than 280 Orange, Ashland, Or. ?

Our house (288 Orange Ave., Ashland, OR) is recently remodled with over 1700 sq feet, new Hardyplank siding, shale rock trim, large covered back patio and a 2 car garage.  280 Orange (a part time rental) is around 1500 sq feet, with T1-11 siding, small backyard concrete pad and 1 car garage.  Both lots are .10 acre. Thank you for your informative and interesting site!  Karla Clements 288 Orange Ave. Ashland, Oregon.
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July 18 2012 - Ashland
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Thank you for your speedy reply.  After re-reading my question, I can hear my "ego" talking.  Zestimates are good indicators of value, but we're not selling.  The value of our neighbor's house as compared to ours is a non-issue.  In any event, I enjoy following the ups (and downs) of the Ashland housing market. 

Keep up the good work.  --Karla Clements Ashland, Oregon
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July 18 2012
A Zillow "Zestimate" is not very accurate. You should not rely on it for a solid basis of value for any purpose. It is based on an algorithm of often incomplete data. You can claim your home and edit the facts but it is still never going to be a true determination of value. 

Values themselves are subjective whether you are an agent, buyer, seller, lender, and/or an appraiser.  If you are looking to refinance your lender will assign an appraiser. If you are looking to sell your agent will prepare a Comparative Market Analysis.  

Hope it helps!

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July 18 2012
 
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Why is the zestimate of our house (288 Orange, Ashland, Oregon) less than 280 Orange, Ashland, Or. ?
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