Profile picture for wilsonmc35

why did my home value drop over 40%? that can't be right.

the home is 1266 East Burnett Avenue, Louisville, KY 40217
  • June 15 2011 - Louisville
  • 0Yes

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Answers (4)

Profile picture for snopea123
I agree, I woke up this morning to find that my home value had gone down over $40,000.00 overnight. What is going on?
  • June 16 2011
  • 1Yes

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Profile picture for Dunes....
Zillow says

Zestimate Improvements FAQ

And

"Historical Zestimates
"
"With the data delivery yesterday, we have re-computed historical Zestimates back to January 2006. There are a few algorithmic developments that we are still working on and, once these are done, we intend to re-compute all Zestimates back to 1996."
http://www.zillow.com/blog/research/2011/06/14/upgrading-the-zestimate/

What do you say wilsonmc35?
  • June 16 2011
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Profile picture for RowellK
Zillow adjusted their formula and applied the change to historical data as well.    Zillow is NOT in the business of providing pertenant property values, it is a Media company which sells advertising space.  Again....Zestimates should not be taken as the real value of your property. 
  • June 16 2011
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I had the same thing happen to me.  I have ahouse at 1121 East Breckinridge Street.  I bought the house in 2008 for 110,000, I have done a lot of improvements.  The zestimate was never lower than 115,000 and now it is 78,500.  I think there is a difference in a estimate and a "zestimate"!
  • June 16 2011
  • 1Yes

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