I am trying to estimate how much my house is worth in context of the current interest rate and buying environment. There's almost a 100K difference between Zillow and Redfin with Redfin being on the lower side. What do I go with? Which is generally more accurate.
I am waiting for property tax stmt in July. Thatās prob a good estimate? Redfin is 300k more than Zestimate for me!
Both are fake ! Over inflated numbers
Just do it yourself. Pull the comparables, ie homes sold the last month or two that are similar to yours. Drive around and see the outer appearance, look at their pictures at Z or R and make subjective adjustments. That's all you need.
Neither. The actual price of a house is the winning bid that it sold at. This has a lot of variance due to arbitrary factors. Sometimes it's inexplicable why a house sold for 10% (~200k) more than comparable houses.
+1 not enough volume to accurately price homes. There could be like 5 buyers shopping for similar homes, one might get outbid a few times on other homes and be frustrated and say fuck it and pay 10% extra just to be done. could be buyer after a holiday, has an extra fervor to move to bigger place to host extended family. Pays extra. None of these are due to inherent value but nonetheless translates to real pricing Housing market is not fully rational.
They're both starting points. I don't know if Redfin publishes its error rate, but we do: https://www.zillow.com/z/zestimate/ You can also make your Zestimate more accurate by claiming your home and updating the home facts. More data in = better data out
Why don't you get it appraised?
Costs $200 would be my guess!