Weekly Discussion: 1 January 2024 (lemmy.world)

submitted 10 months ago by andocas@lemmy.world to c/fire@lemmy.ml

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[-] Fleamo@lemmy.world 6 points 10 months ago* (last edited 10 months ago)

Buying a new house this year, wish me luck.

Current house is abnormally small and the apps have no idea how to value it. The Zestimate range between top and bottom estimate is like 25% of the total value and Redfin is another 25% above the top range Zillow gives so I have this enormous range of possible sale prices and I can't wait to engage an actual local professional and get some clarity.

[-] FancyPantsFIRE@lemm.ee 3 points 10 months ago

Good luck! Fingers crossed it ends up being at the high end of the range for you. The differences in the pricing algorithms is wild. We’ve had a spread of up to $300k on our house at different points.

One thing that I do find annoying is that Redfin updates its estimate history retroactively, it’s not a point in time snapshot of their estimates, but instead an over time estimate using their current pricing model. I kind of get it, but it also kind of seems like cheating.