Profile picture for Jesoca

from the time I made an offer to now (past inspections) the Zestimated dropped WHY?

  • January 17 2011 - Forrest Hills
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Answers (4)

Profile picture for SteadyState
"There is no real, hard answer to your question. I have had several clients have this same problem, and in most cases it was caused by short-sale or foreclosure properties near the desired property. This is why it is so important to move quickly when buying or selling a property right now."

Is this not equivalent to advising the buyer to do the transaction quickly so that the price will drop after he/she completes the transaction! Great advice, not!!!!!!
  • January 17 2011
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Sales activity in your specific market may impact the numbers.  Feel confident that your bank appraisal will take into consideration like properties, and make adjustments for distressed sales in your community. Chances are the zestimate is not comparing apples to apples,  Enjoy your new home!

  • January 17 2011
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Profile picture for wetdawgs
The Zestimate is being updated 3x a week, and as property prices are, in general, decreasing, it isn't surprising to see a drop.   Was it a huge percentage drop?
  • January 17 2011
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There is no real, hard answer to your question. I have had several clients have this same problem, and in most cases it was caused by short-sale or foreclosure properties near the desired property. This is why it is so important to move quickly when buying or selling a property right now.
  • January 17 2011
  • 0Yes

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