According to Zillow, the value of my property was going up, up, up between 2011 and 2012, despite the fact that real estate prices overall in my neighborhood were fairly stagnant. In fact, they estimated that it had almost doubled in value. Based upon what?
But since 2011, my property has been going down, down, down, despite the fact that the real estate market in my neighborhood has gone up slightly in the past couple of years.
The comparison graphs for my neighborhood vs. my house show my neighborhood going up and down slightly, but my house went up sharply, nearly doubling in value, and then dropped precipitously to below the estimate in 2011. And this does not at all dove tail with what was happening in the local market.
Seeing what they have down with the estimates for my home, I can never take their estimates seriously again. Despite the fact that housing prices in my neighborhood have been gradually recovering, mine has been dropping by about 30K per month for the past year. I would love to know the calculus that goes into Zillow's apparent estimate nonsense.