Zestimet disparity in house appraisal

Profile picture for petermag
The house next door just sold ( 3 months ago ) For $555,000

Our house is the exact same house in reverse with same upgrades and condition is zestimented at $455,000. It is my feeling that that large disparity is not expressing what buyers are paying for this exact property in this neighborhood 
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October 14 2011 - Novato
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Answers (2)

Profile picture for SoCal Appraiser
Yes, do as Sharon suggests. Your next door neighbor is your best indicator of value.

I just did an appraisal on a home where the Zestimate was $450K and I appraised it at $750K. I think the Zestimate may have been based on the fact that the property has not transferred in a very long time and the taxes are very low.

Take the Zestimates with a grain of salt...
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October 18 2011
Profile picture for Sharon Lewis
If you are a buyer chances are very good you are going to see a home for sale with your real estate agent. That agent is going to pull the most recent comps on the property to see what the current value is.
You can go in and claim your home (See Zillows FAQ) and then you can update some of your information to try to get the house to what your neighbors is.
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0Yes

October 14 2011
 

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Profile picture for Vince Curtis
QuestionZestimet disparity in house appraisal
  • Latest answer by Vince Curtis
  • October 18 2011
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