I tracked down the Redfin/Zillow estimate value history of a house during a transaction

On 06/02/2022, the house was listed for sale at $825,000.

On 06/04, I went to the open house. Because it’s a phishing price, the house was super crowded.

On 06/06, I submitted an offer at $1.05M.

On 06/07, the listing was removed, and I was told the winning offer was $1.25M.

On 07/05, the house was offline, and Redfin estimate was $806,615. I didn’t record Zestimate.

On 07/12, the house was offline. Redfin estimate was $822,578. Zestimate was $928,300.

On 07/24, the house was shown as sold at $1.25M. Redfin estimate was gone that day, saying not enough information to determine the house value. Zestimate was $903,700.

On 08/04, Redfin estimate was at 1.177M, and Zestimate was at $1.251M.

The Redfin estimate history of this house shows that it has been estimating the house value between $1.1M and $1.2M DURING THE PAST YEAR.

The Zillow estimate history of this house though shows the sudden jump.

I remember about 5 years ago. There was a condo listing near me that reduced its price by about 10% every other month for several times, and the Redfin estimate of that condo just followed the listing price all the way.

This is just to share my experience. I think at least Zillow admitted its history, but Redfin totally made up its history.

submitted by /u/bohu88
[link] [comments]

On 06/02/2022, the house was listed for sale at $825,000. On 06/04, I went to the open house. Because it’s a phishing price, the house was super crowded. On 06/06, I submitted an offer at $1.05M. On 06/07, the listing was removed, and I was told the winning offer was $1.25M. On 07/05, the house was offline, and Redfin estimate was $806,615. I didn’t record Zestimate. On 07/12, the house was offline. Redfin estimate was $822,578. Zestimate was $928,300. On 07/24, the house was shown as sold at $1.25M. Redfin estimate was gone that day, saying not enough information to determine the house value. Zestimate was $903,700. On 08/04, Redfin estimate was at 1.177M, and Zestimate was at $1.251M. The Redfin estimate history of this house shows that it has been estimating the house value between $1.1M and $1.2M DURING THE PAST YEAR. The Zillow estimate history of this house though shows the sudden jump. I remember about 5 years ago. There was a condo listing near me that reduced its price by about 10% every other month for several times, and the Redfin estimate of that condo just followed the listing price all the way. This is just to share my experience. I think at least Zillow admitted its history, but Redfin totally made up its history. submitted by /u/bohu88 [link] [comments]

<a href="Read More“>View Full Article

Need More Commercial Real Estate Leads?SAVE 40% this month!

Our commercial valuation calculator was created to evaluate commercial real estate. In 6 quick steps you will know your NOI, CAP RATE, and IRR.

Now you can get your own branded version of our calculator!

Generated by Feedzy