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Updated over 3 years ago on . Most recent reply

User Stats

24
Posts
3
Votes
Randy Dulac
  • Contractor
  • Hooksett, NH
3
Votes |
24
Posts

How does Zillow/ Redfin caculate price estimates?

Randy Dulac
  • Contractor
  • Hooksett, NH
Posted
I am looking at a property from a wholesaler, that is in a good neighborhood.  Its a 2/1 and 904 SF.  I know the area that it is in and most houses that fit that description are around $215k-$230k.  I found the actual house that the wholesaler has under contract and Zillow and Redfin have it at around $155k.  It's the cheapest house in the neighborhood by far.  Supposedly the house is built from a railroad car, but it doesn't appear that way from the outside.  Is the low price because this would be considered a manufactured home?  Would Zillow redfin take this into account?  Finally I know that comps are better than using Zillow, but I was just trying to get an idea of the value.

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