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Jim Hunt's Advice

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Jim Hunt wrote:

5702 35th Ave NE zestimate

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Hi, I'm a real estate agent and I work the area weekly. Zillow's estimates are database formulated, and work with 3 main factors - last sale price and date, information in the tax record, and recent nearby sales. The longer it's been since the sale, the less accurate the Zestimate is. The last sale was 8 years ago, and the tax record shows what I believe to be a fairly large under-assesment; $216,000. Taxes are based on the assesment. The tax record also shows that it is 3 bedroom and 1.5 baths. Zillow doesn't factor in the condition of the home and improvements, or how the setting is - such as really messy homes next door etc. The owner is lucky to be under-accessed by this amount - though the lot is very small which limits development potential. Lot size is listed as 2,480 SF and the zoning is for 5000. Let me know if you have any other questions about this or other homes in the area.Jim Hunt - jimhunt@jimhunts4homes.com
November 15 2007
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