Profile picture for ronaldway9

you had my condo listed at 398k before I bought it. Now, 2 weeks later it is at $350k. Why?

Z estimate was 398k. Now, 3 weeks later after I bought it, it is at $350k.
Please put it back to 398k as that is the real value of the condo
  • February 10 2014 - La Jolla
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Answers (4)

Profile picture for RichardMCombs
There must have been some recent sales that have lowered the value.  The zestimates must be taken with a grain of salt as a computer algorithm can not give a very accurate estimate of value in the real world.  Sometimes the Zestimates are accurate but you must always have a professional appraiser or realtor give you a estimate of value.
  • August 13 2014
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Hi Ronald, 

Zillow aggregates data from a lot of different sources to make an estimate about the current value of your home. Since there is no way for the software to differentiate that a property has a view from one on a busy street, these estimates are just based on recent sales. You can also update information about your home directly with Zillow. When you do want to sell, a qualified Realtor can set help you determine a current selling price. Buyers will look at Zillow when they are shopping for a home, but that's just where they start. When they work with an agent and start to compare features, they will pay for what they value.  If you have any other questions, or are thinking of selling, don't hesitate to shoot me a message.

Thank you! 
  • June 06 2014
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..... as that is the real value of the condo....

... the real value of the condo will only be found if and when you sell it, not now with an Zestimate OR what you purchased it for, as values change every day....
  • February 14 2014
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Profile picture for John R Lyons
I believe you are talking about Zestimate for your property. If so, its value is based on an algorithm of neighboring properties that sold.  And it is only an estimate.

I wouldn't worry too much about the figure, since you are probably not planning on moving for quiet a while.
  • February 14 2014
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