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Answers (5)
- Mike Vazquez, Realtor at ERA, "Mike Vazquez"
- Contributions:62
Sometimes the "estimates" are incorrect for various reasons, so it's best to contact a local agent that knows the area and can drill down on why the most recent neighboring homes sold for what they sold for and give you a better idea of what your home may sell for in this market.
As an examplee, I recently sold a home for some folks who told me after I sold it for $265k that the zestimate was $225k. It's always best to drill down and seperate known factors that may not be taken into consideration.
Good Luck!
- James Gordon ABR SFR SRS, "jmgordon"
- Contributions:171
Take a look at the comparables that Zillow is using you may find properties in Ridge and Norwood being used. By the way according to zillow statistics they are within 20% of the sale price 11.5% of the time so don't put to much value in the zestimate. 88.5% of the time the sale price has a differance of greater than 20% of the zestimate.
- Cheryl Talbot Real Estate, "Virginia Beach Homes"
- Contributions:674
Keep in mind, Zestimate is a average of what homes are selling for in any given neighborhood or city. It's bases soley on the data in Zillow. If you want a clearer view of values in any given area, look to MLS. The MLS system is what every other website pulls from. MLS is the information highway and is what appraisers use in appraising values of any given home in any given neighborhood. It's based on recent solds not averages overall. In order to determine what someone will pay for a home in today's marketplace, you need to look at the last 6months. Appraiser won't go past the last 6 months due to the fact the market is changing. So look there for the best and brightest data. Thank you for your question.
- Pasadenan
- Contributions:21466
Primarily the difference comes from the last sold price and date; but sometimes also from the tax assessed value.
Zillow also uses sqft, lot size, # bedrooms, # bathrooms, # stories, year built...; so if data is missing... it will affect the modeling and cause wider fluctuations and will not be as close to "present market value".
Zillow also uses sqft, lot size, # bedrooms, # bathrooms, # stories, year built...; so if data is missing... it will affect the modeling and cause wider fluctuations and will not be as close to "present market value".
- sunnyview
- Contributions:25139
I would look at your Zillow value range. Most of the time the ranges for similar house in my area heavily overlap. Although the Zesitmates may be different, they still fall within the same general range of values.
Zillow estimate
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