There are a lot of factors that go into the assessed valuation of the property. Square footage is a large factor, but not everything. In addition other factors include: lot size, do you have a basement, is that basement finished, number of baths and bedrooms, etc. Also, be sure that your square footage is actually less on the tax records. If the neighbor has a split level house the way the county assesses the living area is less than a 2 story house. The neighbor may have appealled the taxes with the county to get it reduced. You may be able to use the neighbors house as a comparable to get your reduced as well. There are may attorneys in the area that can do that for you.
You can go into your home profile and "claim this home" as the owner. You can then use the edit feature to change the location of the house. It's actually very easy to do.Hope this helps!
It actually very easy to work with. You simply go into you sight with your property and choose the "Claim your property" option. You then can go in and edit the property description or request it be changed by Zillow.
Simply click on your home and do the "Claim this Home" button. After you claim the home, you can edit the home features, etc. Hope this helps!!!
I believe it can take up to 48 hours for the data to be changed in the system.
I would recommend that you simply click on your home and use the "Claim this home" function. By claiming the home you can then make a case to have the value adjusted. In your case you can go to the "Edit" section and then click on the "Report a problem". Under the Report a problem you can use the drop down menu to click on the "Incorrect Sales Price" and simply enter the explanation on the actual values and the situation. It will take a few weeks but it should get resolved. The reality is that most people know the "Zestimate" many times is not a fair and accurate representation of the actual for this exact reason. If you are looking to refinance, the appraiser doesn't look at Zillow as a reference and if you are looking to sell, the Realtors pull their own comparables from the multiple listing services. So no worries this will be resolved and it really shouldn't affect you.
My recommendation is to click on your home and use the "Claim this home" function. After claiming your home, you can update the profile of the home. Within a few days, the values will be adjusted to the rest of the neighborhood. If you wish in addition to changing the bedroom, baths, basement status, etc, you can input additional information to get a more "fair" value. Of course if you need the actual market value it would be best to request a market analysis from a Realtor.
It really is a great time to buy, but by waiting until you sell your existing home you are taking out the risk of losing equity on both properties. If the market continues to fall (no one knows the answer) the retirement home will be lower along with your existing home and the net result will be closer to zero. Otherwise if you buy now, you could post a great gain if the market goes up or a large loss if the market goes down. By waiting you are neutralizing the market movement. Of course many more factors come into play, but this is generally the results.
Thanks for the charts. They really tell the story we have been telling our clients for months. I am in the Chicagoland area and last week we had a large bank offering 4 1/8%, 30 year fixed, 0 points. It certainly is a buyers dream. And to top it off, the house values are down 20-25% off their highs in a fairly strong midwest market.
Lani,I live in the suburbs of Chicago and Florida has been doing a great job of marketing the fact that the beaches are unaffected. I hope the best for the tourism in the area and will let me clients know was well. Best of Luck.