ZILLOW, while sometimes useful for certain purposes, can never be relied upon for a quick reliable indication of property value.
One must always examine the 10-year chart of Zestimates, and the maximum amount of previous sales data available. Even then, there will be numbers that just don’t make sense. This is such a case.
In the sales history, asterisks indicate that the 390K sale was not included in Zestimate, and that the 130K sale was included in Zestimate. But the graph shows otherwise.
There is a logic error in the Zillow computer program that produces these displays under certain circumstances. I have seen this condition before.
Taking all the Zillow data into account, unless the property has been rezoned to significantly increase its value, one might be inclined to suspect collusion between seller, buyer, and appraiser to produce a sham sale for $390K in 2008.
