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3/ e.g. https://www.zillow.com/homedetails/224-Mount-Dearborn-Rd-Weare-NH-03281/189915239_zpid/ … $280k 3 beds 4 baths 4,680 sqft Needs to be gutted. Ad damns with faint praise: "It is a diamond in the rough but is livable." So comps w a house that needs to be called out as "livable...technically" are used to generate my estimate. Sigh.
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4/ it doesn't but I tend to focus on metrics, even when I know that they're dumb https://twitter.com/IcyTekla/status/1089939520089403394 …
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So what's a "big but dumpy" house worth in your neck o' the woods?
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I’ve seen that happen a few times, and there’s usually a market correction. Someone buys the dumpy house on the cheap, flips it for a profit, and comps go up.
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At least where I live, the Zillow numbers are pretty meaningless. The neighborhood is all custom houses and aside from standards on exteriors, sizing, and not clear cutting the lot, they differ a lot in quality. Suspect the same is true in rural areas or anywhere there's a delta.
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The word "zestimate" should only be used on menus to approximate the amount of zestiness in the Thai chicken lettuce wrap vs the Italian sausage croissant melt.
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The numbers for here are insanely inaccurate. They have my parents' address as being worth $21,000. No, I didn't miss a 0. They have a 2 story house on 2 acres with a 2 story shed/barn. Mine is a bit closer to accurate.
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