Your graphs representing house values do not match your estimates. Why?

Profile picture for happyhun007
On May 2nd of this year your estimate of my house was 634,500.   Currently you stated the value has dropped only about $900.   Your graph which outlines the progression of values indicates that the value of my house on May 1st was about $537,000.   Why the difference?   This was a $900,000 house by your estimates only 18 months ago...
Steve
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June 17 2011 - Ashland
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Profile picture for wetdawgs
Zillow updated their Zestimate algorithm earlier this week, and in doing so the historical Zestimates were re-computed from additional data.   You can read more here. and here
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June 17 2011
Profile picture for Ron Galbreath
Market conditions containing the latest Foreclosure and Short Sell information will determine the market which they are driving currently.  Most likely a high end sell or two has closed escrow in your area.  Most likely a distressed property.  That may have procurred a willing and able buyer enticed by the attractable value.  Get a free market analysis from a knowledgeable Realtor in your area to determine the value of your home and they can exclude distressed properties.
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June 17 2011
 

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Profile picture for wetdawgs
QuestionYour graphs representing house values do not match your estimates. Why?
  • Latest answer by wetdawgs
  • June 17 2011
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