Profile picture for user84155224

cause of decrease

did my house just decrease because i had it refinanced...at a lower price because its what i now OWE...and is Zillow making it like an actual SALE transaction???
  • December 08 2012 - York Township
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Answers (2)

Profile picture for Matt Hiatt
Zillow uses the word zestimate because they are not actual comps, just an estimate. Sometimes they are close, other times they are way off, depending on where they get there information. Fortunately, the value of your home goes by sold comps in your area and has nothing to do with Zillow.Iif you had an appraisal done on the refi, that would be the information to use. If not, you could have an agent pull comps for you.
  • December 08 2012
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Profile picture for Cindy Quinton
It is possible, I've seen it pick up a refi. Does the home's page show it as a sale? If so, use the little gray flag to report the error. 

Otherwise, zestimates go up and down, and it really has little to do with the value of your home on a given day. 
  • December 08 2012
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