Zillow Advice: Housing Market - How do you place a value on a house? http://www.zillow.com/advice-thread/How-do-you-place-a-value-on-a-house/410096/ Zillow Advice | Zillow Real Estate Basing a value on a home ... http://www.zillow.com/advice-thread/How-do-you-place-a-value-on-a-house/410096/ Basing a value on a home is NOT simply based on a scientific method or mathematical formula.&nbsp; It is truly based on the current market value comparables and other factors of the home based on the seller's desire to sell the home and make it "marketable". <br/><br/>A home in the same neighborhood can be thousands less than the other homes around it.&nbsp; One factor which can come into play would be that the owner really wants to sell the property.&nbsp; A realtor who provides the owner with good research based comparables (based on the current market) will guide the owner as to what is a "marketable" list price and assist them with a fair market value of the property to spark interest in future home owners wanting to make an "offer" on the property.&nbsp; <br/><br/>Other factors which could make the property marketable would be the ammenities the property has to offer.&nbsp; Does the property sit on the corner of a quiet street?&nbsp; Is there "open space" near by which offers the feeling of more property when in fact it is part of the entire community through the "common areas"?&nbsp; These are just a few examples that should be considered when making a property marketable and ready to receive multiple offers.&nbsp; Wed, 03 Aug 2011 03:55:00 GMT http://www.zillow.com/advice-thread/How-do-you-place-a-value-on-a-house/410096/ 2011-08-03T03:55:00Z Zillow calculates the Zestimate ... http://www.zillow.com/advice-thread/How-do-you-place-a-value-on-a-house/410096/ Zillow calculates the <a href="http://www.zillow.com/wikipages/What-is-a-Zestimate/">Zestimate</a> using facts that are obtained from public databases.&nbsp;&nbsp; Upgrades inside and out aren't part of the calculation, but in a few months there will be a tool returning to Zillow called "my estimate" so you can put in details about upgrades.&nbsp; <br/><br/>It is hard to judge $10,000 apart - is that 1% of the value or 50% or somewhere in between?&nbsp;&nbsp; Wed, 03 Aug 2011 03:49:00 GMT http://www.zillow.com/advice-thread/How-do-you-place-a-value-on-a-house/410096/ 2011-08-03T03:49:00Z