Zillow Advice: Zillow Questions - Why is my home so much lower per sq ft than the rest im my small neighborhood.? http://www.zillow.com/advice-thread/Why-is-my-home-so-much-lower-per-sq-ft-than-the-rest-im-my-small-neighborhood/417325/ Zillow Advice | Zillow Real Estate No comment about the Zestimate ... http://www.zillow.com/advice-thread/Why-is-my-home-so-much-lower-per-sq-ft-than-the-rest-im-my-small-neighborhood/417325/ No comment about the Zestimate on the home details page.&nbsp; No reference to the appraisal on the home details page.&nbsp; No photos of the appraisal on the home details page.<br/><br/>(Photos are not used in the machine generated opinion of approximate value anyway).<br/><br/>The estimate went up over 3/4 of the difference between previous estimate and what was paid when purchased.&nbsp; What more could you want?&nbsp; It was a huge jump.<br/><br/>And it still has to pay attention to the other sales in the area and model those to size, bedrooms, bathrooms, land, tax assessed value, etc.<br/><br/>I see the 2011 tax assessed value has not shown up on the site yet.&nbsp; So, it may bump up again when that number shows up.<br/><br/>I'm sure you already looked at the list of similar recent sales in the area.&nbsp; But regardless, here is the link:&nbsp; <a href="http://www.zillow.com/homes/comps/47271887_zpid/">Similar recent sales to selected property</a> Wed, 28 Sep 2011 02:13:00 GMT http://www.zillow.com/advice-thread/Why-is-my-home-so-much-lower-per-sq-ft-than-the-rest-im-my-small-neighborhood/417325/ 2011-09-28T02:13:00Z There is an old saying that ... http://www.zillow.com/advice-thread/Why-is-my-home-so-much-lower-per-sq-ft-than-the-rest-im-my-small-neighborhood/417325/ There is an old saying that may be useful to engineers...<br/><br/>"There is more than one way of doing anything.... but at least two of them are 'wrong'".<br/><br/>Take for example a common combination lock with dial face and a 3 number combination (3 disks inside).&nbsp; You could open it clockwise, counterclockwise, clockwise.&nbsp; Or with slight number adjustments for the first two numbers, you can open it counterclockwise, clockwise, counterclockwise.<br/><br/>Or, you can use bolt cutters and cut the shackle.<br/><br/>Or you can use a sledge hammer to open the case and pull out the disks<br/><br/>Or you can blow it up with explosives.<br/><br/>Or you could break down the door or whatever the lock is holding and forget the lock.<br/><br/>Or you could just use an alternate entrance, such as a window.<br/><br/>Most of those options are "wrong"; but any of them will "work" in most cases. Wed, 28 Sep 2011 14:21:00 GMT http://www.zillow.com/advice-thread/Why-is-my-home-so-much-lower-per-sq-ft-than-the-rest-im-my-small-neighborhood/417325/ 2011-09-28T14:21:00Z Well, even in IT, there are ... http://www.zillow.com/advice-thread/Why-is-my-home-so-much-lower-per-sq-ft-than-the-rest-im-my-small-neighborhood/417325/ Well, even in IT, there are no "absolutes", or they wouldn't need you.<br/><br/>Even such things as how often to do backups; off site storage of backups, rotation of media; defragmentation of drives; periodic read/write error checking of drives and RAM...<br/><br/>Or how about the representation of date and time?&nbsp; UNIX?&nbsp; It is used on this site for the mortgage trend tables.&nbsp; (Double integer (4 bytes) in seconds from midnight December 31, 1969, Greenwich mean time?)&nbsp; Good only until 2036.&nbsp; And then what?&nbsp; Or do you use Excel time, which only goes back to 1900, thus is useless for many historic events?<br/><br/>And there is always the tradeoff between memory space, computation time, and programmer time.<br/><br/>And for sorts, do you use binary sorts, linear sorts, bin sorts, or one of the multitude of other options?&nbsp; And what about password encryption and storage?&nbsp; And user authentication?&nbsp; Firewall protocols?<br/><br/>Even software updates?&nbsp; What gets updated, and what updates are likely to "break" something else, or not be cost effective?&nbsp; And if you upgrade hardware, are you going to have compatible drivers for existing peripherals?<br/><br/>And for text representation, are you going to use standard ASCII, extended ASCII, Unicode, alternate country code character maps, HTML extended characters, or something else?&nbsp; And do you limit text strings to 256 characters, or 2048 characters, or do you just use a pointer and a character count integer (2 bytes)?&nbsp; And do you use integers for the pointer, or double integers, or something else?&nbsp; Or perhaps page references for page swapping?<br/><br/>If you are going to have more that 65k fields of data, do you still use Excel and divide up the fields into different worksheets, or do you go to Access instead, or use a competitor product?<br/><br/>If everything was "absolute" and "black and white" in IT; then the machines would take care of it all by themselves and the programs would write themselves, and the programs would debug themselves.&nbsp; But it has never worked that way.&nbsp; And doubtful that it ever will.<br/> Wed, 28 Sep 2011 05:02:00 GMT http://www.zillow.com/advice-thread/Why-is-my-home-so-much-lower-per-sq-ft-than-the-rest-im-my-small-neighborhood/417325/ 2011-09-28T05:02:00Z Holy Moley Pasadenan! I guess ... http://www.zillow.com/advice-thread/Why-is-my-home-so-much-lower-per-sq-ft-than-the-rest-im-my-small-neighborhood/417325/ Holy Moley Pasadenan! I guess we are in a different segment of engineering. You make rockets or design nuclear plants vs my humble IT networking job.<br/><br/>Nevertheless, my point is an estimate of value is valid until the truth is revealed by a sale between a willing seller and willing&nbsp;buyer establishing the value at the time of the closing...period.There are no estimates at this point since it sold for the agreed price..Also for financing a certified appraiser confirmed the fair market value.So.. pie are squared and not round. Wed, 28 Sep 2011 04:02:00 GMT http://www.zillow.com/advice-thread/Why-is-my-home-so-much-lower-per-sq-ft-than-the-rest-im-my-small-neighborhood/417325/ 2011-09-28T04:02:00Z As an engineer, I am constantly ... http://www.zillow.com/advice-thread/Why-is-my-home-so-much-lower-per-sq-ft-than-the-rest-im-my-small-neighborhood/417325/ As an engineer, I am constantly dealing with trade offs, risk analysis, cost/benefit analysis, approximations, client desires, budgets, safety factors, life cycle costs, industry mandates, tolerance ranges, schedules, human errors, defective components, mean time between failure, significant digits, available products, space considerations....&nbsp; there is nothing "exact" in engineering.&nbsp; And little "black and white" in engineering either.<br/><br/>Even in science, there is the error analysis of experimental error and tolerance of measuring devices, and probability theory.<br/><br/>If one wants "absolutes", one probably has to go into accounting or mathematics instead.&nbsp; But even in accounting, one budget item could be put in a number of different categories, or could be depreciated with different methods or at different rates.&nbsp; And even with mathematics, one can either say the sqrt(-1) is "undefined", or can be defined as "i" or "j" for imaginary and complex numbers.&nbsp; And for non-linear problems, there often are multiple different possible approaches to getting a usable solution.&nbsp; Not everything can be solved closed form.&nbsp; Sometimes a Taylor series expansion is required.&nbsp; Other times, and iterative solver can provide some good solutions.&nbsp; And what about the cube-root of -27?&nbsp; Should be 3 answers, with two of them being complex, right?&nbsp; And are you going to represent those in polar or rectangular coordinates?<br/><br/>And on my construction cost estimates, my tolerance range is typically not much better than Zillow's in spite of doing detailed material take-offs and in spite of using good reference sources for material and labor costs.<br/><br/>It is well know, that the mathematician states that Pi is 3.1415926535 8979323846 2643383279 5028841971 6939937510 5820974944 5923078164 0628620899 8628034825 3421170679 8214808651 3282306647 0938446095 5058223172 5359408128 4811174502 8410270193 8521105559 6446229489 5493038196 4428810975 6659334461 2847564823 3786783165 2712019091 4564856692 3460348610 4543266482 1339360726 0249141273 7245870066 0631558817 4881520920 9628292540 9171536436 7892590360 0113305305 4882046652 1384146951 9415116094 3305727036 5759591953 0921861173 8193261179 3105118548 0744623799 6274956735 1885752724 8912279381 8301194912 9833673362 4406566430 8602139494 6395224737 1907021798 6094370277 0539217176 2931767523 8467481846 7669405132 0005681271 4526356082 7785771342 7577896091 7363717872 1468440901 2249534301 4654958537 1050792279 6892589235 4201995611 2129021960 8640344181 5981362977 4771309960 5187072113 4999999837 2978049951 0597317328 1609631859 5024459455 3469083026 4252230825 3344685035 2619311881 7101000313 7838752886 5875332083 8142061717 7669147303 5982534904 2875546873 1159562863 8823537875 9375195778 1857780532 1712268066 1300192787 6611195909 2164201989 3809525720 1065485863 2788659361 5338182796 8230301952 0353018529 6899577362 2599413891 2497217752 8347913151 5574857242 4541506959...<br/><br/>and will keep going until you tell him to stop; but that an engineer states Pi is 3.14159, or maybe only 3.14 (depending on the specific application needed).&nbsp; And that a physicist states "it is well know that Pi is ..." with no data to back up the claim..&nbsp; And that a Bible literalist will say that Pi is 3.0 because that is what you get when you divide the circumference by the diameter in 1Kings 7.23.<br/> Wed, 28 Sep 2011 03:04:00 GMT http://www.zillow.com/advice-thread/Why-is-my-home-so-much-lower-per-sq-ft-than-the-rest-im-my-small-neighborhood/417325/ 2011-09-28T03:04:00Z Thanks, Pasadenan&nbsp;I ... http://www.zillow.com/advice-thread/Why-is-my-home-so-much-lower-per-sq-ft-than-the-rest-im-my-small-neighborhood/417325/ Thanks, Pasadenan&nbsp;I will accept this and move on. As an engineer&nbsp;I deal with absolutes everyday and no grays. It just bothers me that homes on the same street have different values acessed. :). Thanks for taking the time to answer to all. Wed, 28 Sep 2011 02:30:00 GMT http://www.zillow.com/advice-thread/Why-is-my-home-so-much-lower-per-sq-ft-than-the-rest-im-my-small-neighborhood/417325/ 2011-09-28T02:30:00Z The best way to determine ... http://www.zillow.com/advice-thread/Why-is-my-home-so-much-lower-per-sq-ft-than-the-rest-im-my-small-neighborhood/417325/ <br/>The best way to determine the value is based on current solds. No matter what you see here, this is not gospel. It's what a home is selling for in any given neighborhoood or region. The information is pulled from many different sources and not always the most accurate. It comes through the solds on any given area and averages them out. My own neighborhood is low for what the homes sell for. It's pulling everything to get to the Zestimates. Keep in mind, its what has sold that counts in any city or community. It's what appraisers use to determine value and it's how Realtors assist the public in establishing value. MLS is a more dependable source for market values since it's base on actual solds and the data is current. Thank you for your question. Wed, 28 Sep 2011 01:37:00 GMT http://www.zillow.com/advice-thread/Why-is-my-home-so-much-lower-per-sq-ft-than-the-rest-im-my-small-neighborhood/417325/ 2011-09-28T01:37:00Z All good answers..BUT I did ... http://www.zillow.com/advice-thread/Why-is-my-home-so-much-lower-per-sq-ft-than-the-rest-im-my-small-neighborhood/417325/ All good answers..BUT I did get a "Sold" price when I purchased it this year in Feb. Thats my point about Zillow values. If I bought the home for $329k, then thats the value in the market. The Zestimate never went to my sold price, which in my opinion is a flaw in the algorithim it uses.I see homes sell all the time and the Zestimate popd up to the sold price. How can I fix this? Also, I did post pictures..188 Sage circle 34681. Wed, 28 Sep 2011 01:19:00 GMT http://www.zillow.com/advice-thread/Why-is-my-home-so-much-lower-per-sq-ft-than-the-rest-im-my-small-neighborhood/417325/ 2011-09-28T01:19:00Z You can't "send" it to Zillow ... http://www.zillow.com/advice-thread/Why-is-my-home-so-much-lower-per-sq-ft-than-the-rest-im-my-small-neighborhood/417325/ You can't "send" it to Zillow as Zillow has no place to store it and no people to process it and nothing that can be done with it...<br/><br/>BUT you can take photos of it and post it in the photos on the home details page, and you can post a comment about the Zestimate in the space provided for that on the home details page with the info about the appraiser, appraised value and date.<br/><br/>This is not an appraisal site and never will be, so appraisals don't affect the machine opinions of approximate value at all and cannot.<br/><br/>Similarly, the way the modeling is done from county records and from recently sold non-distressed ownership housing units in the vicinity... if you did improvements since purchase, the Zestimates will always be lower then market value, and there is nothing that can be done about that except for to sell the property to get a new "sold" price.<br/> Wed, 28 Sep 2011 00:29:00 GMT http://www.zillow.com/advice-thread/Why-is-my-home-so-much-lower-per-sq-ft-than-the-rest-im-my-small-neighborhood/417325/ 2011-09-28T00:29:00Z Thanks for your answer. Yes ... http://www.zillow.com/advice-thread/Why-is-my-home-so-much-lower-per-sq-ft-than-the-rest-im-my-small-neighborhood/417325/ Thanks for your answer. Yes it was appraised in Feb 2011 and its actually worth more since I remodeled. I just don't understand why the math does not work for Zillow..Its more a mystery than anything since I am not going to sell. Wed, 28 Sep 2011 00:21:00 GMT http://www.zillow.com/advice-thread/Why-is-my-home-so-much-lower-per-sq-ft-than-the-rest-im-my-small-neighborhood/417325/ 2011-09-28T00:21:00Z