Whatever it says, it’s probably way off. As in way too high. Zillow and similar firms started as lead capturing and lead selling companies. They get consumers excited about how much their house is worth, sell the lead to a realtor who then convinces you to sell. Once you are hooked you will take a lower price than what Zillow told you it was worth. It’s why they call Realtors “sales careers”. Never trust anyone with a big commission coming. Or Trust but verify. The criticism of Zillows valuations led them to make a critical mistake. A couple of years ago, Zillow (and their peers) announced that they were so confident in their valuation algorithms that they would pay you whatever their AI engine said your house was worth. 3 years later and hundreds of millions in dollar losses, they exited that business. Problem for them is, they still have a ton of properties to unload.
So read their analysis until you orgasm but as has been suspected for many years, Zillow, RedFin and the others are usually wrong. if you are looking for a house to buy, zero in on their listings. They paid too much for the house. Spent too much remodeling them. Since they are exiting the business after losing hundreds of millions, they don’t negotiate very hard. Their goal is to liquidate assets as fast as possible. They might put up a brave front in initial discussions but stick with it and they will fold like a cheap suit. You won’t get a deal juicy enough to flip the house, but good enough if you plan to live there for 5-7 years.
zillow was half a million higher than Redfin on their latest mailer about my O. C. house. They are full of shit.
comps let the buyer sleep good at night
not the buyer
I’ve never used Zillow..I’ve always felt they were artificially high.
How can you tell if a property is Zillow owned on their website?
DC
Realty is just a mid-level marketing scam for Biff and Muffy to make money for the firm off their friends and family, until they save up and start their own firm and reel in the next batch of low-watt bulbs to keep the circle a' spinnin'.
My neighborhood is always a bidding war when a place is listed. I feel like there is a receiving line of agents coming by every weekend to see if I want to sell, letters from "desperate buyers", and bottles of wine and baskets with cards left on the doorstep constantly. Zillow, Redfin, etc. is consistently 10-20% lower than what people are selling/buying for. I guess no matter how you slice it they are wrong.