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Remarkably, Zestimates that are way off suddenly correct themselves when properties get listed.
Wow, you're right. I didn't think to look at my seller's overpriced Zestimate just before they listed but it is even less than what I think it is worth.
I put as much stock in a Zestimate as I do a NYT editorial, which is to say, zero. In fact, I don't even track the ones for my homes. I consider them pretty much worthless.
I've never actually Zillowed my home, but the Zestimate looks about right for what is selling in my neighborhood right now, give or take about 1%. I have an advantage in that I live in a housing development that has many similar models, so I can easily make comparisons using recent sales. I bought my home in 2008 and the Zillow chart indicates that my property's value was pretty flat until the beginning of 2013 when it began a precipitous climb. At this point, I have no plans to sell or re-mortgage my home, but it's nice to know that I apparently made a good choice in buying it a decade ago.
We do pay for Google because they steal our info that we agree to give to them and they monetize it.
They don't steal mine. I have adblocker, ghostery, and I routinely delete all cookies including the hidden ones. I don't use my real name online. Everything that is personal on my computer is encrypted. I don't know what they could steal when I never log in to Google and routinely erase my tracks. They get SOMETHING I am sure, but they can't really aggregate it. At the very least, every time I move I get a new IP address. Eventually I'll go VPN and have done with the whole mucky mess.
I closed yesterday for 22% less than the Realtor.com and even for a lot less than Zillow and Redfin...
There are several homes for sale in the neighborhood and I'm certain this will not go un-noticed...
Of the other homes... one has been for sale since May and the other since June... both have had substantial price reductions and still sitting... the one listed in May was totally renovated with legal in-law etc... all the glass, sleek finishes, paint schemes etc...
My sellers had several Realtors come through and all said the same... home is dated and will need upgrades to get top dollar...
Sellers did not want to spend money ripping out things they like as the sellers built the home 25 years ago... so it is very personal.
Appraisal came in 9% than my sales price... not withstanding the following.
What cinched my offer is I provided for a no rent holdover 90 days from close of escrow... plus... I made it known I like the way the home is... I like the oak cabinets, tile counters, etc... plus the contract provides for an additional term with them paying a fixed amount. (Not so Hot on the extensive Wall Paper...)
The other factor is they were moving far away to be close to family... so no interest in waiting around for months or until next spring for something that might happen.
I'm sure the Assessor will have something to say... been there and done that before...
This is not the first time the Net Estimates have been way off...
It has gone the other way back in 2012... I offered double the net estimates and still did not get that property... it was like a park on 5 acres and had 3600 square foot shop nicer than many homes... the Internet Estimates were not able to value it properly... once sold... the quickly matched the selling price!
Last edited by Ultrarunner; 09-01-2018 at 04:09 PM..
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