Profile picture for SaabKhoone

undervaluation of property

Hi - I have some concerns regarding the undervaluation of my property. Our appraisal is $200K about your listed price. What is your mechanism to correct for your estimations? My address: 319 Grayson Court, Menlo Park, CA.
  • May 02 2012 - West Menlo Park
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

 
 

Answers (2)

Profile picture for JulianaPlace
Slightly different undervaluation question.  We're 1451 Juliana Place, in Alexandria, VA and have been tracking Zillow for a few years.  We're one of the only families on the block who have made about $95,000 in upgrades since 2006.  Our home value per Zillow has continued to drop while most of the neighbors remain steady or increased in value over the same period. The size, detail, improvements and upkeep of our home are noted in Zillow, but it doesn't seem to be having any impact.  A home nearby sold a few months ago for $670k and had similar features.  I'm not saying we're right and they're wrong, I'm saying in relative terms, we should all be increasing, steady, or declining together.
  • May 03 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Sir/Ma'am, I wouldn't worry about zestimates. They carry zero weight with lenders. They are valued by un-educated buyers, but once they start engaging in the market, they quickly find a zestimate only a ballpark figure. I do broker price opinions for lenders, and I know they only use appraisals and/or broker price opinions to determine values. Appraisals and BPO's are technically good for the day they're published, then become less accurate as each day passes. If you appraisal is recent, that's the way to go. Hope this eases you concern. Id be happy to explain this further if you'd like to talk tomorrow. Just contact me thru my profile.
  • May 02 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.