valuation

Profile picture for andipanda7
on several homes including my own and my parents, which was recently placed for sale.I noticed that you changed the valuation. For example in April of 2011 my parents home was valuated at 425,000, but now when I look back you have it valuated as higher. The house is in contract.
My home, which I was going to place on the market in April you had valuated at that time in the 690's, but now when i look back at the graph it shows my hous in april being valuated in the 760s.
Why do you readjust/chang past valuations when graphing the price of a home over a time period?
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0Yes

June 16 2011 - Massapequa
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Answers (3)

Profile picture for SoCal Appraiser
With newer and more correct data, one would adjusted any past datapoints related to it, hence a chart and old 'Zestimates' would REQUIRE to be updated. But dont get a ZESTIMATE confused with your value - your VALUE did not change with Zillows new dataset, only your Zestimate. Youll ONLY know your value if and when you sell it, not with any Zestimate, appraisal or even Realtor CMA...

More discussion on it here...

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June 22 2011
Profile picture for anna b
Rather than relying on online valuations, why not simply ask your agent for comps--recently sold similar properties in the immediate area, see what the data suggests...
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June 22 2011
Profile picture for Ice L.
andipanda7 -

We've recently improved our proprietary Zestimate® home valuations.

Please do check these two blog posts on the recent changes for reference:

Zillow Expands and Improves Database of Homes
Upgrading the Zestimate

Thank you.
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0Yes

June 16 2011
 

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