65monicab, Home Owner in Volcano, CA

Why is my home estimate listed here at a dramatically lower price than what we purchased it and yet our neighbor's home has increased in "value."

Asked by 65monicab, Volcano, CA Tue Jul 3, 2012

and yet our neighbor's home has increased in "value." Their home is the only Their home is the only one in the neighborhood that shows an increase in value. All other homes have decreased. They have painted the outside of their home, but we have a new roof and have refinished the deck and front porch as well as done a lot of improvements inside. What are the estimates based on?

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Answers

6
If you want to know what your home is really worth, talk to an active, experienced professional in your area. Sites like Trulia, Zillow, etc... are based on algorithms that are inherently flawed, in large part because they are based on tax records which are notoriously inaccurate.
1 vote Thank Flag Link Tue Jul 3, 2012
Try painting the outside of your house and see what happens.. Just a guesstimate.
0 votes Thank Flag Link Sun Dec 8, 2013
All the more reason to be talking to a pro. If I believed Zillow on the value of my home of 32 years I'd have walked about 3 years ago.
0 votes Thank Flag Link Mon Oct 22, 2012
I find the listed values on this site are so far off... I would be buying up all the houses around here if they really were this low in value! The value of our house on this site shows it 100K, while the county assesses us at 400k. It's a joke!
0 votes Thank Flag Link Mon Oct 22, 2012
So where are you getting your value figures from? Like Lance said if you're getting them from online blog sites you're not getting very credible information. You really need to talk to a RE pro in your area.
0 votes Thank Flag Link Tue Jul 3, 2012
If you want a really good estimate of the current value of your home, you have two choices, connect with an experienced area Realtor, who can perform a market evaluation, based on homes in your area that have recently sold and are most similar to yours with adjustments to differences. Or you can hire
a prof. appraiser to provide you with an official appraisal - for which you will have to pay.....

If and when you see computer generated property values remember computers are not thinking people, the computer takes given and known info, like # of bedrooms # of baths, garage, sq. ft. if available and plugs those into a computer system that then generates results..... Does the computer know whether you have remodeled baths, a brand new kitchen, hardwood flooring, and a brand new
roof. Probably NOT.....

This may be reason.....
Take care be well....

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0 votes Thank Flag Link Tue Jul 3, 2012
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