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Zestimate valued my home at $1M as recently as July 2010, but has plummet by 60% since.

My Zestimate has plunged almost 60% just in the last 8 months.  You may want to re-evaluate  your algorithm in cases like mine, in Federal Way with land.
  • April 09 2011 - Federal Way
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Answers (4)

Hi psnoyes.  Can you provide the address for your property?  Just saw your other query about seasonality in your valuation.  You can send me a direct message via Zillow as well if you don't feel comfortable sharing your address on this public thread. 

Thanks.

Stan
  • April 11 2011
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There is no type of property in any Washington State market that I know of that has depreciated 60% in the last 8 months.  There can be specific examples, however, but I wouldn't worry too much about a Zillow estimate.
  • April 10 2011
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Do not panic, Zestimates are not accurate by their own account, http://www.zillow.com/howto/DataCoverageZestimateAccuracy.htm
 
Good luck, hope this helps.
  • April 09 2011
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I would not worry too much on individual property Zestimate, but your area trends and stats should be considered.

http://www.zillow.com/local-info/WA-Federal-Way-home-value/r_45255/

Your home is worth that its worth regardless of Zillow.
  • April 09 2011
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