RoadAdventures t1_j7dw009 wrote
Nobody can tell anyone what the future price of a house will be.
If they really could do that, they would make a huge fortune in real estate.
I would not pay much attention to Zillow - the only way to find out how much a house price should be is to put it on the market.
Anything else is an (more or less) educated guess.
>What would you say to the realtor who keeps saying price won't drop in price, but is now no longer in touch with you after they get your commission check.
Nothing, until you need to sell your house, and even then, you would only need to talk to them if you want to hire them for the job.
They earned that commission check when they closed the deal. No future obligations left.
NecessaryMistake9754 OP t1_j7dwepj wrote
It sucks psychologically when zillow usually over estimates house prices and then you are 100k down
RoadAdventures t1_j7dwlrq wrote
Totally understood... but again, Zillow can say anything they want.
Nobody should put much weight on a Zillow estimate.
NecessaryMistake9754 OP t1_j7dwr26 wrote
Then why did most sellers list their homes at or close to zestimate?
RoadAdventures t1_j7dx7ud wrote
They don't - they list at an asking price that got picked after a long discussion between them and their realtor, which accounts for what the timeline of the seller is, recent comparable sales, market trends, interest rate forecast, and a ton of other details which Zillow knows little about.
Zillow is fine for a quick ballpark number. Anything else, they are too much of a one size fits all answer to a very unique question - what is THIS house worth?
JohnnyRebe1 t1_j7j1xxt wrote
Zillow uses the prices similar houses in that area sold for to get an avg. Zillow estimate means nothing. Could just mean they haven’t gotten updated sales figures or something along those lines. You want to know what your house is worth hire an appraiser.
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