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my house dropped by close to $40,000 in your zillow estimate in 40 days

My house 6217 Greenblade garth (zip 21045) has dropped around 40,000 in estimated value on your web site in the last 40 days. Other houses in our neighborhood have not.

WHY ?!!!!!

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May 28 2009 - Columbia
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Answers (1)

Similar issues have been happening in areas across Maryland.
I contacted the COO and head of Community Relations for Zillow and after some research, they let me know that Zestimates are partially based on what you bought if for and what your taxes are.

This may be the case as to why yours is falling yet your neighbors have not.

Please also know that the values in our area for the site tend to have very little correlation with an actual true value of your home, so in the long run, it does not matter (for example the site has a home near me that is on the market for $2.5 Million 's value being $971,000...just a *bit* off!)

If you would like to know the true value of your home, as the site states, it is not a replacement for an appraisal or real estate agent's market analysis.

Thanks!

Sincerely,
Marney Kirk
Keller Williams Excellence
realtormarney.com
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May 29 2009
 
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