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Answers (2)
- Bob Gibbs, "TheRealEstateMarketW"
- Contributions:40
Hello Johny,
There are many factors that go into the value of a home. But, if the home is in comparable condition and location to others homes in the neighborhood that have gone up, my guess is that the home in question has gone up as well. Also, if you want a true value of a home you really need to hire a qualified appraiser or ask a realtor who is familiar with the neighborhood. I would be very cautious if you are only using a automatic evaluation tool from a website.
- real estate mike
- Contributions:2001
In general, a house can go down in value when the neighborhood goes up, if, the house is in poor condition, has insufficient square feet, or is obsolete(one bathroom, no garage,etc.). But in regards to zillows guess, it is not market value and shouldn't be approached as such. You can order an appraisal or have a realtor prepare a cma(comps). best of luck
how can the prices in a neighborhood go up while a particular house goes down ?
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