Wednesday, August 15, 2007

Lots of reductions on the MLS today...

Below is a small sample of the reductions that came out yesterday in Sherman Oaks, Studio City, and Valley Village. I guess the high season is over.

14024 LA MAIDA ST., Sherman Oaks CA 91423 (See prior post).
Price Reduced: 08/02/07 -- $825k to $799k
Price Reduced: 08/14/07 -- $799k to $765k (down 7.27%)
Zestimate $738,285

13739 HARTSOOK ST., Sherman Oaks, CA 91423 (See prior post).
Price Reduced: 07/06/07 -- $825k to $775k
Price Reduced: 08/14/07 -- $775k to $759k (down 8.00%)
Zestimate $828,516

5703 BUCKNELL AVE., Valley Village, CA 91607 (See prior post).
Price Reduced: 08/14/07 -- $719k to $690k (down 4.03%)
Zestimate $645,201

4214 BAKMAN AVE., Studio City, CA 91602
Price Reduced: 08/06/07 -- $899k to $869k
Price Reduced: 08/14/07 -- $869k to $839k (down 6.67%)
Zestimate $673,539

11680 SUNSHINE TERR., Studio City, CA 91604
Price Reduced: 08/14/07 -- $799k to $750k (down 6.13%)
Zestimate $824,751

4555 BEN AVE., Studio City, CA 91607 (See prior post).
Price Reduced: 08/14/07 -- $749k to $719k (down 4.00%)
Zestimate $604,437

4828 LONGRIDGE AVE., Sherman Oaks, CA 91423
Price Reduced: 08/09/07 -- $899k to $875k
Price Reduced: 08/14/07 -- $875k to $859k (down 4.45%)
Zestimate $821,348

4523 LAURELGROVE, Studio City, CA 91604
Price Reduced: 07/10/07 -- $995k to $950k
Price Reduced: 08/14/07 -- $950k to $899 (down 9.65%)
Zestimate $991,363

4174 VANETTA DR., Studio City, CA 91604
Price Reduced: 07/17/07 -- $1.175M to $1.125M
Price Reduced: 08/14/07 -- $1.125M to $1.075M (down 8.51%)
Zestimate $949,490

2 comments:

Anonymous said...

Does the Zestimate move with changing prices in the area? With price reductions like these, and the larger price drops coming, I wondered if the Zestimate will drop with everything else.

- sd

Kate said...

Zillow's algorithm takes into consideration historical property information (like prior sales), square footage, number of bedrooms, neighboring homes and other factors to determine estimated values of 42 million of the 85 million residences in the United States.

The Zestimates update fairly often and show the change in value over 30-day increments.

That said, a Zestimate can be low if the property has not changed hands in 10 or 20 years.