Replies (7)
- sakidd12
- Contributions:26
bump. I would like to know what is factored in to create such a huge discrepancy.
sakidd12 -
Checking on both properties, the sale history could be a possible reason why 1048 Lincoln Ave has a higher Zestimate value than 1185 Blewett Ave. We have 2 sale transactions for 1048 Lincoln Ave while none for 1185 Blewett Ave. Of course, the more data we have, the more accurate the Zestimate value we can provide for a home.
Recent sales transactions are definitely the factor weighed most heavily in the calculation of Zestimates because that it reflects what a buyer paid for a specific house at a given point in time. We do have built in logic to exclude foreclosures and sales within families from our Zestimate computation.
I hope this explanation helps.
- sakidd12
- Contributions:26
one would think that most recent sale would boost the estimate for all like propertes in the area.
- tianhail
- Contributions:10
agree with sakidd12, zestimate should not only use a house's recent sales prices, but use sales prices of all like properties in the area to estimate, it makes more sense.
so if a house is sold at a low price, it will drag down the value of all similar houses in the area, and if it is sold at a high price, all similar properties in the area should go up with it.
- VegasResident
- Contributions:183
no wonder everything in Vegas went up! By excluding foreclsoures you got rid of 60% of the house sales this year for banks that were just dumping and auctioning.
- philkeller
- Contributions:1
- sunnyview
- Contributions:26830
Zillow can you tell me the difference between these two houses?
http://www.zillow.com/HomeDetails.htm?zprop=19578485
http://www.zillow.com/HomeDetails.htm?zprop=19680366
other than the first one being on a major road and worth almost $200k more than the second.
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