This house had a Redfin Estimate of $950k this morning. https://redf.in/MLhHTz You can see the Redfin Estimate in May was $950k. How did it become the list price within hours?
Duvall house is that expensive?
Well no, it's actually only worth $900k to $950k in today's market as the Estimate initially showed but looks like realtors decide what a house is worth.
The sellers decided what to list the home at...
Definitely rigged
Redfin is very rigged
I like that they fixed the "only goes up" trend but seems like they have allowed the list price to determine the Estimate which is absolutely pointless.
OP, I am sure you are renting and planning to buy since last 10 years?
Looks like it just makes the Estimate the list price https://redf.in/oKytPD It's even more pointless now than I ever thought.
Some states you cannot show estimate when home is listed. TN is an examples maybe it’s one of those states
Nah this is for WA you can see estimate
Redfin includes the list price in it's estimate algorithm. Zillow does not, as they think it's cheating. Both of them restate prior estimates month over month (e.g. the Zestimate for your house in Jan isn't the same as what Z shows currently for Jan).
One Redfin agent told me they revise estimates based on popularity and interest. So no of yours conducted, people who marked it as favorite etc all increase estimate.. and of course and other house in neighborhood reached contract.
I have seen many such examples. It is rigged.