Zip Coad and Zillow Estimates

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I live in Fair Haven Heights, a neighborhood that is East of the Quinnipiac River. Our neighborhood is on a hill overlooking the river, sprinkled with historic homes and steepled churches. It's peopled with civil servants and young families and Yale academics, and is just a 10 minute drive from Yale and downtown.

Fair Haven Heights shares a zip code with Fair Haven, which lies between Fair Haven Heights and downtown. Fair Haven is notorious for Latin King activity, shootings and drugs.

Since the economic downturn, many homes in Fair Haven have foreclosed. It seems that this spring banks have been selling off the foreclosures, apparently contributing to a dramatic dip in Zillow estimates of homes in Fair Haven Heights. I bought my home in 5/09 during what I thought was the bottom of the recession. I had the house painted and reroofed and have done a lot of landscaping, but the Zillow estimate has dropped $30K in the past 2 years, most dramatically this past spring as houses in Fair Haven that Zillow estimates to be, for example, $150K have sold for $15K.

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May 19 2011 - Fair Haven Heights

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Profile picture for wetdawgs
The Zestimate is build of core public facts on the home, such as size, location, room number and comps.  There are several things you can do if the Zestimate concerns you:

1.  Claim your home.  (Subcategory under "edit" on the property details page).

2.  Edit home facts.

3.  Select comps that are better than the ones selected by the computer.

4.  Do the "my estimate" to show features such as the new roof and landscaping that are not part of the Zestimate calculations.
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May 19 2011
Profile picture for abovebelow
Thank you.  One question on claiming the house--is there a way to do it anonymously?  I did this once and then unclaimed it because I work in the criminal justice system and was worried it would make it easier for folks to find me.  Around the same time, a colleague claimed her home on Zillow and shortly afterwards, her whole neighborhood got "letter bombed" a former inmate.
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May 19 2011
Profile picture for sunnyview
Based on what you have posted, many appraisers will not make the distinction between Fair Haven and Fair Haven Heights if they are in the same zip code. That entire area is not super stable and has has ongoing problems with crime. More in some pockets than others, but as the market keeps correcting areas that were "fall back" markets of more affordability will lose more ground than neighborhoods that have a better overall consistency.

Before you put any more money into your house, you need to contact a local agent to make sure that you do not overimprove. Improvements may make your house sell faster than another without them, but many times people can not or will not pay dollar for dollar what you will invest. Landscaping done on a budget often returns more than the raw cost so that was probably a smart place to start. Contact a local professional and get their opinion.
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May 19 2011
Profile picture for sunnyview
You claim your home by choose the correct owner name from a pull down list, but your name will not be listed on the home page at all.

Unless you post your name with your address in the Advice forum or on your home page you are anonymous on Zillow. Zillow also does not share information or owner names on the site.

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May 19 2011
 
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