We are trying to put an offer in a house. List price is $900k. We checked redfin estimate that says $900k. Realtor app says $870k to $967k. Zillow estimates $985k My realtor said it will go for $1.2m. Who do I trust?
Sometimes zillow and other sites are behind in terms of comp and estimate. Don't trust the agent alone. Make an offer that you are comfortable with and fair. Don't let emotions cloud your judgement. Especially the first home and the feeling to gotta have something will make dome people make an extremely high offer for something
Realtor is probably right. But if it’s your first house bid you probably don’t believe him. Try failing a few bids and you will know the market.
You mean realtor.com or my realtor?
He meant realtor. They likely know the range where you can win. Some markets are seller market
Realtor at times push buyer for submitting high offers to close the deal and get their paycheck. So you should do your own due diligence . Can you post address/Redfin link so people can give analysis
After bidding for several houses you will learn to estimate the right price.
This is the way. Don't get super attached to any home and learn as you go. You'll get a better feel. Your realtor is probably a little high due to his own baise/incentives, but not by much.
The only thing that one 'learns' after bidding for a few houses is how there is nothing there to learn and how one needs to just keep bidding 200k-400k higher than the asking price. People start off by bidding 200k+ more and then eventually succumb to the market and then start bidding 400k+ more.
You look at the houses around it and compare with the house you are buying. And from the sound of it, your realtor is full of s***. He or she gets paid w.e the amount you purchased at times some percent so he or she will want you to bid the highest unless he or she is trading info with the seller agent which is technically illegal. Put in the offer you are comfortable with based on your own analysis of the market. You dont want to regret paying 300k more than the asking price. From what I know, no one regrets not getting the house by not putting in 300k more.
Always go for realtor who has a lot of experience in that area. They will give you pretty good estimate. Redfin, Zillow and other estimates are useless.
Usually realtors have transacted in the area before and therefore know the going market rate. Put in an offer and if it’s too low counter or find another property.
Zillow has been 100-200k short for everything i lost
Check recently sold houses in the vicinity and then estimate the range for your house. It’s expensive but you can always try getting an appraiser if you’re really concerned. They’re usually quite precise, have a good pulse on the market, and are good at making adjustments to estimate the value of the property. Costs about $1k to get done, so about 2-3x the inspection cost.
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If you are here asking such a question, you should not really buy a house. Did you do due diligence before hiring the realtor ? I don’t think you are serious (or if you are, you are not putting in enough time to research and if you are doing that and still don’t have a clue then maybe ...
Relax, what a useless response.
PayPal, maybe you’re as clueless as op