11 ms·

The Zestimate for my house is incredibly close, within $2k of a recent appraisal. There are a lot of comparables in the area, so they have a decent amount of da

by sixdrum 10y ago

The Zestimate for my house is incredibly close, within $2k of a recent appraisal. There are a lot of comparables in the area, so they have a decent amount of data to work with. I have a friend who just bought a 3,000sf house on 1/2 of an acre in Lexington, VA for $31k. Zillow has it at $400,000. He's either incredibly lucky and should buy me a beer, or Zillow is the worst. Leaning towards the latter.

jerf 10y ago
"$31k. Zillow has it at $400,000." Drop a 0 there? It seems likely that $31k would go beyond lucky into probable theft....
- sixdrum 10y ago
  It was an investment property that needed some work. He had to put about $10k into it, but it's good to go now.
  - jerf 10y ago
    Thank you for clarifying. I mean, even being off by $90k would have been plenty wrong enough to justify your statement.
jsjohnst 10y ago
Like the previous reply, I'm going to assume you meant $310k, not $31k, as $31k for that property doesn't make sense based on the factors you listed unless the place is a dump. As to the disperity, this could be easily explained by seller factors. Maybe the house is actually worth $400k, but they needed to sell it, even if less than it was worth (had a contract on another home, home was a foreclosure, etc etc).
- sixdrum 10y ago
  I did not drop a zero. He paid cash.
  - hnal943 10y ago
    is it a nuclear waste dumping ground? What's the mitigating factor?
    - sixdrum 10y ago
      In the country and needed about $10k of renovations. Sold as-is. It may end up being worth $200k, if he's lucky. Zillow is just incredibly far off.