Home is located at 8631 Cedon Road, Woodford, VA and is 2000 sq ft with separate garage - one level ranch. Just did $30,000 exterior vinyl replacement job - why did my value go down this week by $14,000?
2006-09-09 00:21:21 · 4 answers · asked by Cheryl Hampton 1 in Business & Finance ➔ Renting & Real Estate
Remember that your house is also compared to recent home sales and appraisals in your area.
Along with the volatile housing market which appears to be slowing down and the appraisals and sales they have on record, anything can happen.
Also, an exterior improvement such as siding probably doesn't add as much value as say, putting on a small addition for the same price.
I use Zillow too and found that the market has just been changing lately.
2006-09-09 00:28:28 · answer #1 · answered by Obsean 5 · 0⤊ 0⤋
When I put my home for sale in May it show my house Zestimat at $448K, On Sept 1st it show my house was worth $404K so I reduced my house to $429,900 so they immediately Zestimate it at $395K..So the following morning I checked again and guess what THEY ZESTIMATE IT AT $291k...It somehow dropped $104K overnight. I live on a lake, my home is only 10 years old...all the home on a lake are all over $400K....I have over 2200 sq ft, 3 beds, 3 baths, 3 fireplaces, oversized 2 car garages w/loft, double lots....and yet they zestimate a house a few miles down with 2 beds, 1 bath and just a little bit over 800 sq.ftv at $312K....HOW CAN THIS BE. I have written to them several times asking them to remove my home from their site without an answer...
2014-09-13 09:39:14 · answer #2 · answered by Mamabee 2 · 0⤊ 0⤋
Because, as I have said a million times, zillow is worthless. They have no idea that you did 30K in vinyl replacement. They have no idea of the condition of any of the homes. They are basing their info on tax records. In most areas of the county they actually use the TAX APPRAISAL as their value! If all of the people that are convinced zillow is the be all and end all of real estate values would just think about it. Has zillow had a representative contact you to view or discuss the condition of your home?????
2006-09-09 02:05:49 · answer #3 · answered by Karen R 3 · 0⤊ 0⤋
Zestimate For My Home
2016-11-12 04:34:33 · answer #4 · answered by ? 4 · 0⤊ 0⤋
Do you think they have a zillow or zestimate employee stationed at every house to check for improvements? lol
Those websites are for entertainment more than anything else.
Zillow shows my house as being worth more than 200k MORE than it appraised at, lol.
2006-09-09 10:37:56 · answer #5 · answered by BoomChikkaBoom 6 · 0⤊ 0⤋
did you use myZestimator?
Did you pick comprable homes?
There may have been a recent sale that was refelcted in your home price.
2006-09-09 00:29:19 · answer #6 · answered by Anonymous · 0⤊ 0⤋