Redfin and Zillow estimates
What do you think about their estimates? Is it under or overestimate?
Zillow is more realistic , i think Redfin is always higher
In some areas, Zillow is higher than Redfin. Different depending on areas.
Zillow estimates my home value $50k higher than Redfin now
Sometimes they may overestimate and sometimes underestimate. It depends on the particular house and neighborhood. Work with an experienced real estate agent to determine the right price for a particular house.
I have seen that Zillow and Redfin estimates are put of whack, especially in the fast changing markets, by at least 50K. Work with a good Realtor who can prepare a CMA for you to list or buy.
Both estimates can be wrong although I think Redfin is better. Also depending on the area, if there are bidding wars, the actual price can be a lot higher than their estimates in real like Seattle.
Around Seattle Redfin is always lower
They're not accurate. If anything, Zillow screwed themselves over when they launched a home buying business (iBuying) and used the Zestimate models for that. They over-spent $381M by buying houses based on Zestimates. They shut down the wing and laid off 25%.
That was for specific areas like Phoenix, booming markets
They can over or underestimate but generally over when compared to comps in my experience. I think they are part of the problem with how much people are paying over comps. People seem to be using it as comp and then overbidding on top of that!
Just comp it out yourself it's not that difficult
I choose whichever one lists my home value higher