are asking prices firm or is their room for offers abovzillow estimate?

  • June 08 2014 - Mustang-Padre Island
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Answers (3)

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Torrance ---> *tolerance*

(Who has any clue how that word got swapped out?)
  • June 08 2014
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LOL!

Apparently another person that doesn't read about AVM's?
http://www.zillow.com/zestimate/

Didn't you read that an ESTIMATE is only a "starting point" for further evaluation?  Didn't you notice that there is a "range" posted with each estimate?  Didn't you read that the "range" is only a 70% confidence interval, meaning that there is a 30% probability that the present market value is NOT within that posted range?  Didn't you look at the 1st quarter 2014 posted tolerance data for the U.S. and notice that 16.9% of the houses sold within the U.S. did NOT sell within +/-20% of the estimate?

Didn't you notice that there is just a much likelihood of an estimate being too high as too low?

Didn't you realize that anyone that offer the amount an AVM indicates rather then doing their own evaluation and site visits is going to either be intentionally "ripped off", or laughed out of the Realtor's and will not be buying anything?

Didn't you notice that Texas is a "non-disclosure" State, and sold prices are not even public record there?  That the AVM is modeling to list price instead?

Didn't you notice that for Newton County, Zillow only provided estimates for 5.8k home details pages, and that there are only 7.2k Home details pages on Zillow, and that Zillow does not evaluate the Torrance of the estimates in Newton County due to insufficient sold records data to do so?

No, asking prices are not "firm", but as the previous posted mentioned, estimates have absolutely nothing to do with what a seller will accept, and very little to do with what else one might buy.
  • June 08 2014
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Generally speaking, list prices on homes are negotiable. Zillow estimates have nothing to do with list prices that owners ask for their homes.
  • June 08 2014
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