Redfin price is higher than the real one (Seattle area)

Amazon tahij
May 10 30 Comments

Interesting...

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TOP 30 Comments
  • Microsoft 🍟+🍿-🥡=?
    Redfin price is an est. Shouldn't be a surprise it's not exact. Also shouldn't be a surprise when homes sell for more or less than asking price 🤦‍♂️
    May 102
    • Amazon tahij
      OP
      Pieces are usually low in real. Compared for 20+ houses
      May 10
    • Microsoft 🍟+🍿-🥡=?
      Correlation != causation. If it's really bothering you, I suggest you go learn out how redfin calculates their est. and figure out why in those 20 cases their est was low but in Seattle it's "high". Also 20 is not a statically significant sample size for the many MANY houses redding estimates prices for. (But even if it was, still wouldn't address the real issue)
      May 11
  • Expedia / Eng
    zappato

    ExpediaEng

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    Google
    zappatomore
    It’s called an “estimate” for a reason.
    May 100
  • Facebook / Data
    RScP24

    FacebookData

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    Amazon
    RScP24more
    Redfin estimates were the best couple years back. Zillow was horrible in Seattle then. Once house prices dropped last year, redfin estimates dropped but failed to drop as much as market. Zillow estimates - although they were already low, dropped again

    Now both are screwed up. Redfin is still reasonable compared to Zillow
    May 113
    • Nvidia ECTT56
      Is Zillow not still horrible? Tried to use them last year for pricing and such and their data/experience was just bad and inaccurate. Was a shame...
      May 11
    • Qualtrics ❄️IsComing
      Check out yourself the most recently sold similar houses. And as the trend is going down you can bid for even lower. Inventory will possibly grow much higher in summer as well
      May 11
    • Facebook / Data
      RScP24

      FacebookData

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      Amazon
      RScP24more
      Zillow is still horrible
      May 11
  • Marvell nevE34
    I bought home in fremont in aug 2018 and price went down by 100k in next 2 months. Redfin is showing 50k down right now. I had put preemptive offer as per redfin estimate.
    May 103
    • Qualtrics ❄️IsComing
      How do you know price is down by $100k unless you sell it again?
      May 10
    • Marvell nevE34
      I know from comparable homes and bids above asking. I bid 14 percent above asking that time redfin average above asking was 9 to 10 percent and now its 1-2% below asking price.
      May 10
    • Qualtrics ❄️IsComing
      Market peaked at May last year and since then going down. So unfortunately you bought near peak. But think about long term. I see people bought at 2007 are now selling at much higher price
      May 11
  • Nvidia ECTT56
    They're not making any more land
    May 112
    • Amazon / Engn0v
      See volcanoes flowing into the sea. New land.
      May 11
    • New hqWe60
      that was deep bro
      May 11
  • Amazon / Engn0v
    Redfin estimates seem a lot better than Zillow. But both are trailing the market and imperfect.
    May 100
  • Qualtrics ❄️IsComing
    Btw, Seattle market is falling knife right now. If I were in the market, I would wait. Even if there’s no crash, price isn’t going up in next one year for certain. Zillow predicts it will go down by couple of percentage in one year.
    May 1010
  • Marvell nevE34
    970k
    May 100
  • Facebook public2
    What's a "real" price?
    May 100
  • Qualtrics ❄️IsComing
    Because Redfin estimates are based on recent past and price is now going down pretty much all the houses are selling at lower than Redfin estimates. It was the opposite two years back
    May 100

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