Quote:
Originally Posted by Citroënbender
I’ve punched in a few around my area and it’s clocking up to a million low. There’s one for sale with their estimate at $1.8M right beside a near-identical block that sold for $2.4M in April.
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I often used that site few months ago when my daughter and son-in-law we’re looking to buy a house. It was valuing properties a bit low then in comparison to the sold price at every auction they were interested in.
However the prices they were achieving at auctions were a lot higher than the agent estimated (not surprisingly) and incrementally higher than similar places sold only a few weeks before. Prices were jumping $10K every week or two. I didn’t see the margins you’ve mentioned when I was looking, but it seems the algorithm needs some tweaking.