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Admiral_Zero 07/09/23 12:17:06 AM #1: |
I live in Los Angeles. I dont plan on selling my home, but according to Zillow the price of my home jumped $120,000 in 2 months. I did zero renovations. What determines the price of a home? --- [[[[[[[[[[[[[[[[[ |||||||||||||| ]]]]]]]]]]]]]]]]] ... Copied to Clipboard!
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PMarth2002 07/09/23 12:18:07 AM #2: |
That's probably an estimate based on what similar/local housing is selling for. The actual answer is whatever you negotiate with the buyer. --- When money talks for the very last time, and nobody walks a step behind When there's only one race, and that's mankind, then we shall be free ... Copied to Clipboard!
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pretzelcoatl 07/09/23 12:19:34 AM #3: |
Admiral_Zero posted... I live in Los Angeles. I dont plan on selling my home, but according to Zillow the price of my home jumped $120,000 in 2 months. I did zero renovations. What determines the price of a home?Current supply vs demand/competition for availability. Currently house prices are jumping because it's 1:peak season 2: nobody is really selling because the interest rate for getting into your next home is unattractive 3: housing is still scarce So whatever is making it to market is highly contested by people who have the money to afford high prices AND high interest rates, and the people who are selling are often in the same boat. Which tend to be rich people. This definitely influences prices. Also goes without saying the the Zestimate is often inflated, which is how Zillow got themselves into trouble with their house buying arm of the business. ... Copied to Clipboard!
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VampireCoyote 07/09/23 12:20:33 AM #4: |
the amount some sucker is willing to pay --- She/her ... Copied to Clipboard!
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Admiral_Zero 07/10/23 12:21:07 AM #5: |
So Zillow overestimates? --- [[[[[[[[[[[[[[[[[ |||||||||||||| ]]]]]]]]]]]]]]]]] ... Copied to Clipboard!
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sfcalimari 07/10/23 12:24:00 AM #6: |
Someone in your zip code recently overpaid for their house. --- "Tether even a roasted chicken." - Yamamoto Tsunetomo ... Copied to Clipboard!
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CADE_FOSTER 07/10/23 12:24:14 AM #7: |
Admiral_Zero posted... So Zillow overestimates?Def weren't they caught buying up houses at absurd rates recently ... Copied to Clipboard!
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