Your improvements all add less than $25,000 in value and I saw a listing for two places that are bigger than yours for asking $599,000. You may just have to recognize that you bought at the top of the market and the market's no longer there.
This has been a topic of conversation in the office several times. It was bugging me that I did not know how right or wrong Zillow's numbers were...
Here are the Facts about Zillow's accuracy for Contra Costa County:
â€¢ Zillow has data on 97% of Contra Costa homes (e.g., number of bedrooms or bathrooms). These are the homes you can find via maps or search on Zillow.com.
â€¢ Zillow has "Zestimates" for 94% of Contra Costa homes.
This is where it gets interesting...
â€¢ Only 28% of the time the Zestimate is within 5% of the selling price.
â€¢ Only 51% of the time the Zestimate is within 10% of the selling price (49% the zestimate is off by more than 10%.
â€¢ Only 76% of the time the Zestimate is within 20% of the selling price.
In other words...
â€¢ Which means that 72% of the time the Zestimate is off by more than 5%
â€¢ Which means that 49% of the time the Zestimate is off by more than 10%
â€¢ Which means that 24% of the time the Zestimate is off by more than 20%!
Just some interesting facts straight from Zillow. Hope this helps!
Windermere Rowland Realty
Obviously location and condition have an impact on price. It sounds like your home is in great condition and obviously I can't comment on price. The home that is currently listed for $769,000 is new to the market (1 day on MLS) and the home listed for $469,00 has been on the market for 5 days. Days on market ofr the varying homes on the market vary from 1 all the way to 358.
In terms of home sold recently I searched back over the last 6 months and 16 homes have sold in Albany. The lowest sales prices were $500,000 and the highest was $997,000. Of the homes sold 7 were 2 bedrooms and 9 were 3 bedrooms. The price range for the 2 bedroom homes sold was $500,000 to $660,000.
I hope that this gives you a frame of reference to go from, but it very important to be able to have more detailed comparisons for your home compared to others on the market currently and those sold to help determine the estimate of value.
If you would like I can email you more detailed information of the homes I mentioned above as well a statistical data that can graphically show you the trends for home sales in Albany.
Alain Pinel Realtors
Visit my blog, Real Estate News Without The Schmooze at http://www.NoSchmooze.com
It's difficult to estimate the market value of your property without knowing other factors, such as, the specific neighborhood or total square footage of the house and lot. That being said, it is not unheard of to have a 2 bedroom and 1 bath house to sell in the $700k range in Albany.
I would suggest that you interview a few Realtors that know your area well to help you set a listing price.