Thursday, March 09, 2006


According to Zillow our house appreciated $2,493 in February. Which is a good thing because it's brings the Zillow value of our house closer to what be paid for it, which was below the Zillow high range though. After looking through the Zestimate factors I noticed there are certain factors that Zillow can't account for.

For example, our place was renovated before we bought. Items updated included new Pergo flooring, paint, chair rail, kitchen appliances, septic repairs, skylights, gas fireplace, gas water heater, master bathroom, and some landscaping. I also refinished the kitchen cabinets shortly after moving in.

So I think the true value of our house isn't necessarily reflected in the Zillow price. We were one of three bids on the house after being on the MLS for 12 days. Our realtor told us we won because our financing was the best of the three. Given a higher asking price and a few more weeks on the market I'm sure the selling price would have been a bit higher, reflecting my suspicions that we got a great deal mainly because of timing, not unlike when we sold our condo.

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