What is the deal with houses like this?

Microsoft / Eng
Satya๐Ÿฅœ

Go to company page Microsoft Eng

Satya๐Ÿฅœ
Mar 24 30 Comments

New to this housing market.

But can someone please explain how does this situation take place

This is a prime area. None of the house near our are listed anywhere close to it. How did this mamage to sell for 1.4M when even the redfin estimate is 2.3M

https://www.redfin.com/WA/Bellevue/14695-NE-16th-St-98007/home/501728?utm_medium=share&utm_source=web_share&utm_campaign=native_dialo

https://www.redfin.com/WA/Sammamish/421-210th-Pl-SE-98074/home/267212?utm_medium=share&utm_source=web_share&utm_campaign=native_dialog

Not only this, I can see several houses which sold below the market rate. What am I missing?

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TOP 30 Comments
  • Amazon / Eng
    DoorDumble

    Go to company page Amazon Eng

    DoorDumble
    Maybe someone sold the house to their kid or a grandkid on a discount.
    Mar 24 7
    • New
      enBT65

      New

      enBT65
      Private sale. Family or close friend.

      A family member did this recently. Probably got 10% less than market value, but no cut to the real estate agents, no showings, buyer waived all inspection contingencies, etc.
      Mar 24
    • Compass
      greatersea

      Go to company page Compass

      greatersea
      Considering realtors get about 5% taking 10% below market isn't ideal. And you never know what market is unless you actually list. If a home is listed, presented, and negotiated well it can net the seller much more in our market than an offmarket offer.
      Mar 30
  • Meta
    ticklez

    Go to company page Meta

    ticklez
    Sold off market. Probably to a relative.
    Mar 24 3
    • Amazon
      fijeuut

      Go to company page Amazon

      fijeuut
      everything needs to be recorded. it may have never been actually available to the public but needs to be recorded
      Mar 24
    • New
      enBT65

      New

      enBT65
      Yes, could also be transferred to a family trust.
      Mar 24
  • Compass
    greatersea

    Go to company page Compass

    greatersea
    This house sold in 2020 not 2022z The Redfin data is incorrect. I am a realtor.

    Also Redfin estimates are often very wrong. I see it every single day.
    Mar 30 2
  • Apple
    ๐Ÿ˜2โ˜ ๏ธ

    Go to company page Apple

    ๐Ÿ˜2โ˜ ๏ธ
    Itโ€™s haunted ๐Ÿ‘ป
    Mar 24 0
  • Google
    flying owl

    Go to company page Google

    flying owl
    Go to the county record to check it out. My guess is that a name change on the deed. The script picked up the change but didnโ€™t interpret it correctly.
    Mar 24 0