Redfin

Zee09

$200 Site Donor 2023
Joined
May 5, 2018
Messages
16,799
Started get messages from Redfin. I have been aware of them for years but wasn't selling anything
so I didn't look. This week I punched in a lot I have since I have owned it for 4 years just to see what they say the value is.

I wish it was accurate lol. They have my lot for 4 x what I paid for it. Yes it has went up but this was seriously out of whack.
I guess vacant land is harder for them to judge.. Too bad for me :)
 
Started get messages from Redfin. I have been aware of them for years but wasn't selling anything
so I didn't look. This week I punched in a lot I have since I have owned it for 4 years just to see what they say the value is.

I wish it was accurate lol. They have my lot for 4 x what I paid for it. Yes it has went up but this was seriously out of whack.
I guess vacant land is harder for them to judge.. Too bad for me :)
Estimate needs enough samples to be accurate. I personally use only recent transaction as a guideline and the redfin / zillow estimate as a starting point. They can be too high or too low by like 20-30% for low volume stuff, but won't be 4x too far.

Or should I say, a dollar probably has dropped in value by 75% since you bought your property.
 
Estimate needs enough samples to be accurate. I personally use only recent transaction as a guideline and the redfin / zillow estimate as a starting point. They can be too high or too low by like 20-30% for low volume stuff, but won't be 4x too far.

Or should I say, a dollar probably has dropped in value by 75% since you bought your property.
Agreed . I think this is just a Redfin screw up. Zillow can't even locate the property.
 
My Brother in law was selling his home and he told me about Redfin. So I looked my house up and they showed the photo(which was correct) but the square footage was off by about 1500 sq ft less but had correct amount of fireplaces( I have 3) and correct amount of bedrooms and baths. Since I never had any interest in looking at these sites I decided to check Zillow. They had the photo(which was correct) BUT they said my my house was vinyl and wood siding, obviously not correct as even the photo showed that I have an all brick English Tudor with 3 visible chimneys. Zillow lists no fireplaces in the listing and only 3 bedrooms and 2 baths, but they got the square footage correct. Pricing on either site was substantially out of whack!!!

Makes you wonder where they get the info. I assumed from the tax records but could be wrong.
 
I met with them earlier this week and they said the property is worth what they said it was.
I lived here my whole life and own several properties and I know the value.
I decided to let them sell it- I'm in no hurry to and it is just vacant land and if they get some sucker for even 30%
less I'd him and haul a bit not to scare them off but I would take it instantly-lol
 
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