House Buying Thread

[robbiestoupe]

Sticky fingers aren't sticky enough, apparently:

http://www.post-gazette.com/business/de ... 1802130025

[Troy Loney]

https://www.cnbc.com/2018/05/21/zillow- ... inals.html

I find this very interesting.

Zillow's plan, called Instant Offers, will allow home sellers to use the company's online database to compare offers from potential buyers including Zillow itself.

If Zillow wins the offer, the company will aim to flip the home within 90 days and re-list it as quickly as possible with one of its premier real estate agents.

In some cases, Zillow will leverage its buyer data to advertise homes to prospective buyers before Zillow officially purchases and flips them, Rascoff said.

[NTP66]

*Instant Undervalued Offers.

[nocera]

Yet their Zestimate will be completely overvalued somehow.

[NTP66]

I don't think it's possible for any Zestimate to be overvalued unless it was a typo.

[Troy Loney]

I would take Zillow's zestimate for my house immediately.

[nocera]

I've always found my house's Zestimate to be suspiciously high.

[Troy Loney]

The house across the street from me was just sold for 10K less than the Zillow estimate.

[nocera]

My Zestimate is nearly 50k more than what I bought the house for 2 years ago. As much as I'd like to believe it, there's no way that's accurate.

[Troy Loney]

My Zestimate is nearly 50k more than what I bought the house for 2 years ago. As much as I'd like to believe it, there's no way that's accurate.

Mine is 65K more and I bought it 18 months ago.

[NTP66]

My Zestimate is $35-50k lower than every other site. Most places don't actually use Zillow for this stuff, so I don't care too much.

[dodint]

The Allison Park house is up $23k in the last year since I bought it.
The Latrobe house is $4k over value.

[Gabe]

if they offer me my zestimate, sold, sold sold.

[tifosi77]

Zillow on the low end, Redfin on the high, the estimates for our house's value is between $222k and $292k over what we paid for it 16 months ago.

[dodint]

Literally more than I paid for my house.

[count2infinity]

I complain about State College area housing being expensive, and then I read tif's posts and think "who in the hell would live in California?"

[Troy Loney]

Sounds like a problem that could be helped by building more houses. But sounds like a large group of people (property owners) have been fighting to prevent changes to zoning laws in CA that would allow more building.

[tifosi77]

'California' is a big place. The San Francisco peninsula is not. There just isn't anywhere to put new housing, that's why the existing inventory is so absurdly overvalued.

[dodint]

They're building fake islands in Dubai. Just sayin'.

[NTP66]

Much higher paying jobs in that area, as well.

[tifosi77]

Do you know what the word 'liquefaction' means?

[dodint]

You just made it up right now; so...no.

[tifosi77]

It's a seismic term that means "don't do reclaimed land here".

[dodint]

You all just dump your landfill stuff right into the fault, then?

[tifosi77]

Usually, we send everything to New Jersey. But I'm not sure now that they've banned single-use plastic bags statewide.