Profile picture for magdigaballah

price drop?

I think Zilow when you ask them a Question why the price drop in your home and the same street with the same lot size and home size  All they will do they will drom your home the next day even more last month the drop my home over 9000 and when I ask they drop another 6000 and the following day another 6000  last night ask why my home price not going up and all the other home in my block been rise up... Then today they drop my home even more another $ 5600    even my home have all the remoduling more than any home in my block I don't think they know what they are doing and I know they will drop it again tomorrow
  • October 24 2011 - Santa Clara
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Answers (8)

Profile picture for Blue Nile
Showing the 3-yr trend to magnify the fluctuation deviations from the index trends, and to compare the two estimates trends in question better:


Web address for full size image:
http://photos2.zillow.com/is/image/i0/i9/i8063/IS1v1bihgge80ir.jpg

It appears that the trend for the property in question substantially over-shot the index trend for the area in July this year, and has been correcting downward, and has now over-shot on the low side, meaning there will be another correction the other way.

That is the nature of measurement and estimate tolerances.  At least Zillow's method doesn't compound these deviations by carrying them forward, but calculates each group of estimates fresh.

As one can see, there is a delay in the index trends, as they need to make sure all "recently sold" data is posted to the system before calculating the median trend prematurely.  So we really don't know where the index trend is today; thus either of the specific housing estimates may be closer to the zip code trend.

  • October 26 2011
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Profile picture for Blue Nile
Well, since there was so much complaint about what the estimate of the one for sale was doing compared to the one held by the same owner across the street, I thought I would overlay the trends...  (YES, the trend data is downloadable once one finds out the secret... which was not hard with the adblock plus Firefox browser add-on since it lets one see the list of all referenced pages...; but it does help to know the date is shown in UNIX time but milliseconds rather than seconds)


web address for full size image to read the text:
http://photos1.zillow.com/is/image/i0/i9/i8063/IS31di1gcygf4z.jpg

Enlarged to see more detail:

web address for full size image to read the text:
http://photos2.zillow.com/is/image/i0/i9/i8063/IS1v1bih4m7joo3.jpg

It certainly looks like both track the market pretty well; obviously with some statistical fluctuations that don't represent market value changes.

Clearly, the longer held property has the wider fluctuations, but clearly, it is not showing a higher market value over-all, but tracking the same general trend for the zip code.
  • October 26 2011
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Profile picture for Blue Nile
Yes, I forgot that you posted your address for us to look at the neighboring properties; and yes, your address is still on that thread in spite of you asking for it to be removed; but it is kind of hard to remove it when you post to remove it in the same post that you are asking for it to be removed.

And since you have it listed for sale, do you want it listed for sale on Zillow or not?  If not, mark that it is not for sale any more, and then it won't show up on the map as for sale.

As for the neighbor across the street that has owned for 55 years; if you look at the trend chart, the fluctuations are much larger, and the deviance from the index trends is much larger.  That is the nature of long held properties; it is just a lot harder with public records only to get any clue as to condition, so as long held properties in the area are sold, those are used to extrapolate what might be the condition of other long held properties.

It just means that the estimate for the neighbor is not as good due to a larger tolerance range.

It is the recently sold properties in the area that determine what people will pay; not some machine generated opinion on one of thousands of websites that owners and agents list properties on.

And I see that you still didn't post a comment on the estimate on the home details page.  Since you did a compete remodel, you have every right to explain that in the Zestimate comment space.  Zillow provided it for that purpose!  USE IT!
  • October 26 2011
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Profile picture for wetdawgs
(You've already posted your address.)   Your house is dropping recently to get back into line with your neighbors.  Six months ago they probably were all screaming why why why is M's house going up and mine going down! 

Zillow doesn't know about your upgrades and remodeling and your neighbor's exquisite 55 year old original condition - only as reflected in tax assessments.  Of course, in California those aren't reflected.    Therefore, Zillow can only go on the facts that are presented publicly.


  • October 26 2011
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Profile picture for Blue Nile
" .... anyway  like I said before I will say more that 90% of my street price going up so why only my home why why why?" -

1) Because they bought at a different time for a different amount.

2) Because that is the way tolerance margins work...; some increase sometimes while others decrease sometimes and there is no correlation between them, and shouldn't be.

3) It could mean that yours was kept artificially high for a period of time, just based on the modeling data.

Regardless, it is just statistics and modeling methods; there is no human interference and no singling out of any properties.  It would be impossible to do with only 5 people doing 100,000,000 estimates 3 times a week.

And really, whether you believe it or not, they are only trying to get the best numbers they can with the limited amount of public record data available.

If it bothers you that much, you should probably click on your user name to get to your profile page, and then for your "favorites", uncheck the boxes for price & status change and home value report.

It is that home value report that is probably driving you crazy.  Just stop looking at it.  Nobody else is looking at that report for your property.
  • October 26 2011
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Profile picture for magdigaballah
THank you,  But why the other home  and i have an address one of them have no upgrate for the past 55 years and his price still going high  way more than my house?   Do you have an answer  for that ... This is just an one house and i have more that that and i can send you the address in privite .... anyway  like I said before I will say more that 90% of my street price going up so why only my home why why why?
  • October 25 2011
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Profile picture for Happydays4you
Do you think they do that? Really? i would think that would be the basis for a class action suit if you could prove it. However I think Zillow is a reputable company and  working hard to provide a free service to consumers who want some basic information. There are even some good contributors here, professionals and some lay people. The one thing I don't like about Zillow is the cat fighting and name calling I witness by some of those contributors. Otherwise, its a pretty good site for the public as long as they realize these prices are not what they would use to sell their home with and that you always need to consult a professional when going forward in real estate.
  • October 25 2011
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Profile picture for sunnyview
I understand that is what it may look like, but I have never seen Zillow do that on purpose even with people that have been really super nasty to them or about them. They may be totally wrong about your value, but they do not punish homeowners who disagree with them near as I can tell.

The thing is that Zillow cannot see your house. If your estimate on Zillow is dropping, I would look for the sale of a nearby foreclosure and/or the graph for your local area. If it is trending down, that cold be the cause. I can't see your chart and I am not Zillow, but that is what I have seen in looking at different houses.
  • October 24 2011
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