You have our condo at 51 Rivers Edge valued 30,000 less than same unit in neighborhood

Profile picture for rctyner
You have our condominium at 51 Rivers Edge lane valued at 131,000, yet our neighbor at 56 Rivers Edge Lane at 164,000.  They are the same condo with the exact square footage.  Why the discrepancy? 
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December 27 2011 - Palm Coast
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Answers (6)

Profile picture for Neil R
Hi rctyner -

We don't have ways of checking upgrades and materials used since we don't go to houses personally. This is the same with views or unique features of houses not being included in a Zestimate which is why it is just a starting point and should not be taken as an appraisal. You can update as much information as possible to reflect the current state of the property as well as input any upgrades and special features in the home description for reference.

Just a heads up, of the changes were not significant enough, the Zestimate may not change. If it will be affected, it will reflect within 8 weeks or so.

Thank you.

Neil
Zillow Customer Support
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December 28 2011

Zillow has no house size's information on your condo and there is house size information on the 56 Rivers, therefore your Zestimate maybe incorrect, you may edit the missing details which may affect your Zestimate in a few weeks to a few months, by open your home detail page and click on the Report problem with home and fill in the Problem and Details box.

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December 28 2011
Profile picture for rctyner

Thanks for the replies.  Actually, our condo has been renovated.  The one that they have valued at 30,000 more has not been renovated, at least from what I can tell from the photos.  Our kitchen has been completely renovated, but I realize Zillow has no way of knowing that. NOW I see that yesterday they brought it down another $1,000, while not changing the value of unit 56, still valued over 30,000 more than ours! Zillow, look at these two properties, they have the same square footage, and the exact same view.  They are identical EXCEPT ours has a new kitchen as well as many other renovations!

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December 28 2011
Profile picture for dpbarr2000
Zillow is the most inaccurate real estate website.  I wouldn't worry about it, as mortgage lenders have never based appraisals on Zillow data.
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December 27 2011
This is a good question. As a realtor in Palm Coast I can tell you that sometimes a discrepancy will come about because one property may have many upgrades and the other has all standards. Another factor is the frontage. If one property has a beautiful view and the other property does not, this could also make a difference in price. I do not think this is the case with your condo. However,if both condo's are exactly the same, then Zillow has made an error and I would strongly suggest calling  your agent  and have it corrected asap.
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December 27 2011
Its called a lousy zestimate. Read all the complaints  on here and you will soon understand how screwed up zillow is and the sooner they get Regulated the better for all homeowners.
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December 27 2011
 

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