It could be due to inaccurate tax assessor data, that is where Zillow pulls it from. If you go to http://www.cityofstamford.org/apps/tax/default.htm you can search your tax card/field card to cross reference what is listed to what you actually have. Plain and simple THAT is probably the reason. Zillow is all public data drives, it's only as good as what's out there. Keep in mind if an OLD owner did things without a permit, that stuff will not be listed, and therefore you are not taxed on it (which is usually why people don't pull permits, fear of an increase in assessed value, thereby increasing taxes..)what you can do to "bump up" your Zestimate is add improvements to your home's page.... i will post the link in a sec.... :)
any local realtor should be able to help you! find one who specializes in short sales and foreclosure if this is a short sale.... you can do that on CDPE.com, a NAR recognized designation.
if you are talking ZESTIMATE... then it's not "100%" it is probably just doing the average price per square foot for the comps in your neighborhood.... Zillow cannot always account for the "extras" that you have as it obtains its' information from public records and we all know how ACCURATE those are!! LOL
your best bet is to contact and agent and ask for a Market Analysis. From the discription it is TOO hard to determine "worth". Several factors like condition, floor plan/flow of the home (functional utility), Neighborhood, lot size, etc is necessary for an accurate price opinion. Any agent would do on for you. :) Good Luck!
do you know what it's supposed to change to? You might be able to convince your lender to modify the loan without a "financial hardship" if the rate is definitely going to be much higher, that may qualify as a hardship, and they may be able to do something about it now....worth a call to your lender :) good luck
Find a Certified Distressed Property Expert as your agent and try to get a short sale accomplished, it's better than a foreclosure. You would have to qualify for a short sale and show a hardship, just being upside down is not reason enough for your lender to let you "get out of the mortgage". If you are facing foreclosure, then a CDPE certified realtor can help you, otherwise, you are in the same boat many of us are....just continue to make your payments until the market turns around again. :)
Why are you estimated the value of my home at $ 250 per square foot with others in the area at $ 278
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