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> if I sold it today Always interesting to see this thrown out in discussions about house prices, given that homes are not an easily-traded asset. You selling
by z3c0 4y ago
> if I sold it today
Always interesting to see this thrown out in discussions about house prices, given that homes are not an easily-traded asset. You selling today indicates that you got the ball rolling at least several weeks ago and have already secured your next home. Lots of costs to be assumed there. So this hypothetical will almost never bear any relevance. These aren't stocks.
- thunky 4y agoThis, and with rates rising fast, the buyer you think you have today could be sidelined next week. And I trust you're not using Zillow to estimate the value of your home.
- z3c0 4y ago> And I trust you're not using Zillow to estimate the value of your home. Thank you for the laugh. Related - several years ago, I built a competitive pricing dashboard for a major US homebuilder, and it sourced Zillow for a portion of its analysis. Time-to-time, I find myself hoping they got around to using a different source.
- FireBeyond 4y agoVery true, to be sure. "Assume a spherical cow" and all that. But no, not Zillow. One, Redfin seems to be more accurate (but still optimistic) while Zillow is -hopelessly- optimistic (or was, I haven't checked in a few months, when they were trying to bail themselves out of their own situation. I "utilize" my friend who is a mortgage broker and they use their own database to determine how they'd either "automatic appraise" a home, or require an actual appraisal. On the flip side, I don't use BOAs valuer, either. While my home is (and always has been) 4br/3.5ba, 2600 sqft, BOA has it as a 3br/2.5ba, 2100 sqft in their database, and had it valued at 25% less than the bank appraiser (which was the most conservative of appraiser, Redfin, Zillow).