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Zillow estimate way under appraised vallue. Why?

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April 05 2012 - Farmerville
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Zillow comprises it's data from your local property appraisers information. The values are based upon size, location and recent sales. These are the fundamental tools used in valuing real estate. This can give a fairly close valuation of homes in a consolidated neighborhood that was all developed within a 10 year period.
When it comes to older neighborhoods or locations that change from block to block, these valuations get distorted. There is a lack of understanding through the zillow valuation which homes have been remodeled or are in need of much repair.
Just use it for what it is, it is a tool. Zillow does not in any way determine your homes absolute value. There is not an appraiser in the world that uses zillow to verify any data. Compare yourself, the homes near you that have sold in recent months, that more closely reflect what your home has and value them according to relative size.
Good Luck and Happy Easter.
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April 06 2012
 
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Zillow estimate way under appraised vallue. Why?
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April 06 2012 | 1 answers
  • Asked by user797157
  • In Pricing
  • April 05 2012
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