Profile picture for P_Nikolic

kindly check for consistencies of estimations price wise

I would like to learn how is the matrix of downgrading a condo in price estimate, like happens to my property from 209,500 to 166,900 (!?) and pls check the neighbors and you will notice my point. Having this situation not realistic in comparison I have my doubts using the service of yours, or it can just be a overlooked estimation?  

My condo: 13269 15th Ave NE #B-15 Seattle , Washington 98125

Regards,
Predrag Nikolic
  

  • December 23 2011 - Pinehurst
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Answers (5)

Profile picture for Dunes ..

 Mr.Stewart I apologize for the edit

@Predrag Nikolic..Please ignore my Previous Post


"And just as easily, because of recent sales activity, the Zestimate can go up.  Which means that the further you get away from individual Zestimates, the less error there is in the values.
Zillow's numbers seem reasonable (depending on sales activity) for neighborhood trends, but the Zestimate on an individual home should only be one of a number of tools that you use to establish the value. The numbers over time also seem reasonable: Comparing the value at the time that you purchased the home (this may not be what you paid for it) with the Zestimate today should give you an appreciation or depreciation that is in line with the neighborhood. If that percentage does agree with the neighborhood, add or subtract it from your purchase price and you have another approach to value."

 is an Opinion not shared by all

The discussion about this is all over the Forum with New Discussions &
Questions (Like yours) being added each day.
Take a look around and share your opinion..please

Happy Holidays



  • December 23 2011
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Profile picture for nwhome.us
Nice edit tug-o-war. 
The sentence reads, in full: "Zillow's numbers seem reasonable (depending on sales activity) for neighborhood trends". 
Neighborhood trends are pretty good and will have less variation than the individual Zestimates.
That is very good advice to explore the forum and learn how the numbers are generated.
  • December 23 2011
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Profile picture for Dunes ..
"Zillow's numbers seem reasonable" is an Opinion not shared by all

The discussion about this is all over the Forum with New Discussions &
Questions (Like yours) being added each day.
Take a look around and share your opinion..please
  • December 23 2011
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Profile picture for nwhome.us
And just as easily, because of recent sales activity, the Zestimate can go up.  Which means that the further you get away from individual Zestimates, the less error there is in the values.
Zillow's numbers seem reasonable (depending on sales activity) for neighborhood trends, but the Zestimate on an individual home should only be one of a number of tools that you use to establish the value. The numbers over time also seem reasonable: Comparing the value at the time that you purchased the home (this may not be what you paid for it) with the Zestimate today should give you an appreciation or depreciation that is in line with the neighborhood. If that percentage does agree with the neighborhood, add or subtract it from your purchase price and you have another approach to value.
  • December 23 2011
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Profile picture for sunnyview
I would look to see if you have any nearby distressed sales or REO's of similar sized condos that sold recently. Often that can significantly affect Zestimates in an area especially if there is more than one in a short space of time.
  • December 23 2011
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