Zestimate Assumptions?

Profile picture for genee
I come here to check the zestimate value of my house vs. my neighbors.  What irritates me is that my house value is less than my immediate negihbors with less square footage and less amenities, last sale price was also much higher for my house, and it simply just does not make sense.  I know Zestimate is only Zestimate, not the true value of a house, but then was wondering about possible reasons for unfavorible price of my house.  What can those be?
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December 12 2011 - Eastgate / Cougar Mountain
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Answers (2)

Profile picture for Caveat Emptor
well, zillow puts weight on not only the last sale price, but also on the time of the sale and how the market appreciated since. the fact that the other home sold in 2000 is probably helping their score. for some reason your tax assessment is 10% lower than theirs too.
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December 12 2011
Profile picture for SoCal Appraiser
and it simply just does not make sense..

Yes, youre right. From the facts you state your home is worth more, and your Zestimate is simply wrong. Not all Zestimates are correct. Surprise! And Zestimate vary over time, if you check back in six months your neighbors will probably be worth less..

In reality, youll only find out how much your home is really worth if and when you sell it, not before... Why worry about it until then. . . . .

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December 12 2011
 

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