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identical house next door is estimated at a million dollars higher than mine!!!

My house is one of five identical detached units in a condo association.  

For over a year now, one of the five units has a Zillow Estimate that is $1,000,000 higher than the others.  I suspect a rental agent manipulated Zillow's information somehow to boost the Z-estimate.  

My unit and three others all list at $700,000 - $780,000 (which is already quite a spread for identical units).  The fourth unit lists for ~$1,700,000.

The address in question is 526 Stratford Court, Del Mar, CA 92014

Situations like this undermine the integrity of Zillow's automated estimates and real estate summaries.
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February 10 - Del Mar
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Answers (2)

Profile picture for delmartian
Yes all around regarding 526 Stratford Court, 92014; units C and D: 

The facts on the home valued at $783,000 are identical to the home worth $1.6M.  

The assessed tax value on the $783,000 home is higher.  

The higher valued $1.6M home sold more recently in 2009 at $825,000.  The lower valued home sold in 2002 for $801,000.  Neither has sold since.


I do understand Zillow uses many input sources for its Zestimate, but it my past experience it does a good overall job at estimating values.  This discrepency of $1M -- more than doubled estimate -- between two identical houses next door is puzzling.
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February 25
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delmartian -

If you want to compare two homes with differing Zestimates, you can check for the following key points:

Are home facts correct on both homes?
Are home facts different?
What is the difference in tax assessed values?
Is there a recent sale transaction on one of the homes and not the other?

Note: Upgrades, remodels and other features of the home are not taken into account when Zestimate is calculated. You can read more about this here.

Please note that Zestimate is only an estimate and that every home's value estimate is calculated independently. If you want a more accurate estimate, you should hire an appraiser or at least get a couple "comparative market analysis" from some local realtors.

Thank you.

Ice
Zillow Customer Support
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February 25
 
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identical house next door is estimated at a million dollars higher than mine!!!
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February 25 | 2 answers
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