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Why the change in price structure!

Zillow seems to have the wrong value on my home. Our house has always been a little more expensive the the rest on our row due to larger garden and drive. Zillow has always shown this up until just recently! Why the change in price structure?

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December 03 2008 - US
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Hi portland girl uk-

The Zestimate is an estimated market value computed using a proprietary formula. We compute this by taking public information and entering them into a formula. We developed the model to determine home values, explored how homes in certain areas were similar and then looked at the relationships between actual sale prices and those home details.

Additionally, other home features will not affect the Zestimate since we base the computation on public facts and sale information. It is still best if you will get an official appraisal that it will include the specific improvements you made for your property. 

You may create your own estimate if you want to show the true value of your home. Just click on "create estimate" under owner tools. The estimate you will be creating is still the best tool for homeowners like you since the Zestimate is just a starting point in figuring out the true value of a house.

For more information about Zestimates, you may refer to this thread: http://www.zillow.com/forum/site/ViewThread.htm?tid=891

Thanks for your patience.

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December 17 2008
 
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