question about pricing. July Zillow 305,000 now 426,000, why the big jump in price?

Profile picture for beefm
The house is located at 656 Greenwood, Birmingham, MI  48009.  We call not listing with an agent.  My brother is selling directly to Holy Name School.  Another home is sselling for 310,000 and 350,000.  We thought 389,000 was fair.  Zillow says it is worth $426,000 from July estimate of 305,000, why the jump in price?
Mary Sestok sestokart@sbcglobal.net
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November 02 2010 - Birmingham
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Answers (4)

Profile picture for Jeana Cowie
A zestimate can vary from month to month,depending on the sold prices in your neighborhood,  and as previously stated, can be off by quite a large percentage. The best way to figure out the value of a home is to have a local real estate agent offer a free market analysis, or pay for an appraisal.
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December 18 2010
Profile picture for Pasadenan
Christina, are you wearing any top at all in that photo?
http://photos3.zillow.com/is/image/i0/i3/i4646/IS1accgcgumckv7.jpg

Does it help sell real-estate to go strapless in your promotional materials?
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December 13 2010
Profile picture for LiveWellRealEstate
To find the true value for your home it is best to contact a licensed Realtor or appraiser. A small investment in them will insure you have the best price for your home and save you money in the long run. Best wishes! Christina
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December 13 2010
Profile picture for wetdawgs
Zestimates can easily be 20% or more away from true market value.  Therefore, Zestimates are only a starting point for coming up with price.   In a situation like this, I'd hire an appraiser.
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November 02 2010
 

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Profile picture for Jeana Cowie
Questionquestion about pricing. July Zillow 305,000 now 426,000, why the big jump in price?
  • Latest answer by Jeana Cowie
  • December 18 2010
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