Is home appraisal more accurate or Zillow/redfin data? I see home values for comparables lower on Redfin/zillow but appraisal came in close to what we bid. Which one is accurate? Thinking about this as looking at Zillow Redfin feel like I overpaid Tc 300k
If you mean for market rate… prolly have to look at recently sold yourself. But if you mean for borrow money appraisal is the only thing that matters
Why you getting so worked up
Unless it’s a new construction, taking the mid point of Zillow and Redfin should give you a good ballpark as to what your house will appraise for. And know that what it will sell for will also depend on market conditions.
Appraisal is more accurate. I find Zillow/Redfin to be way off typically - unless you’re looking at a bunch of condos in the same neighborhood that are basically identical. Whatever source of an estimate they’re always looking at historical data. If you’re in a market rapidly appreciating they’ll both typically lag current sales numbers by a bit - but an appraiser might be able to more accurately take that into account.
I’m a realtor. From my experiences, neither is accurate. I would go to MLSListing and find comps
This
Appraisal will nod head to whatever market says which includes redfin estimate. Redfin's estimate is trust-me-bro. Most accurate is you yourself looking at comparable houses and their sale prices. Factor in differences, and new market trends. And do 100k more than that in order to get it accepted in this market :(
The only ones that matter to the lender is an actual appraisal.