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Why is there a $50,000 difference between mine and my neighbors house?

My neighbors house is identical to mine.
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April 17 2012 - Valley Falls
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Answers (2)

The answer is probably an incorrect zestimate. The published median error rate of 9.4% means that 10 million homes are curced with an erroroneous zestimate and the BAD news is nothing you can do about it. Why? because Zillow says so and they don't care if the error is caused by their poor data management of 3rd party supplier information or any other factor. In the same way as the 'man from Del Monte says yes' the 'man from Zillow is just as famous for saying NO'

I see you edited the facts about your home this week but unless you actually added square feet or additional rooms the chances are your zestimate will not change, and it takes Zillows hand cranked computer up to 8 weeks to reflect any changes.
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April 17 2012
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Because you didn't buy it at the same time, and didn't pay the same amount of money, and because the tolerance range posted is wider than the discrepancy.

The last sold price adjusted for date sold is heavily weighted in the estimating method.
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April 17 2012
 
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