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You have listed the sold price on many homes in Riverside, CA at twice the sold price. Why?

For example, the home at 7175 Golden Vale Dr in Riverside CA sold at $1,355,000 yet Zillow has sold price listed at $2,710,000.  Does zillow read the tax roles incorrectly, and thereby mistakenly doubles the price sold????
  • September 08 2009 - Canyon Crest
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Answers (2)

This problem occurs because the sales price is not part of the recorded information.  To come up with what the price was, many people/institutions will calcuate it based on the amount of the transfer tax (which is usually $1.10 per thousand dollars of sales price) but will fail to take into account that it is higher is some areas.  In the city of Riverside, for example, it is exactly twice as much ($2.20 per $1000), so we sometimes see a doubling in the reported value.

You can rest assured that the appraisers and lenders know these differences so there is little chance that they would make the same mistake.

  • June 15 2010
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Garbage in garbage out. Zillow does not gather data they aggregate data that is sent to them. If the data they receive is bad then bad data will be posted.
  • September 09 2009
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