Zillow values

Profile picture for jdensing
Last month I viewed a property that was listed at over $200K, this month is shows a $1500 decline in 30 days, but a value of $140K. Please advise. Thank you.
Question refers to 45 Artist Lake Dr # 45, Middle Island, NY 11953
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February 06 2008
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Answers (2)

Profile picture for jdensing
Thank you for your help. My question is really with the data reported on Zillow. This website only shows a $1500 decline in 30 days when actually it has represented a $60,000 decline during that period. I believe the property definately was over valued and the adjustment has been made without proper tracking by Zillow.
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February 22 2008
Profile picture for SeaBreeze Realty
Just as the list prices of homes in the same area are declining, so are the prices of condos and co-ops. When the market softens up, it effects all properties, and quite possibly this condo was overpriced to begin with.
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February 21 2008
 

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