“Here is an example of one I was just looking at: MLS# S442558
Guy wants $464k for his 3bedroom, ZEstimate is like $571k so he has already priced $100k below appraisal. he bought this property just over a year ago for $432k so any lower and he is going to get burned.”
The Zillow Zestimate is pretty arbitrary and is not an appraisal. NOT EVEN CLOSE! He is priced $32K above what he paid HOPING to get out whole after paying his transaction costs. Selling after 1 year for what you paid is not getting burned, it is bearing the cost of making a bad decision. Selling at $375K or even $400K would be getting
burned.
BTW, I do agree that the Moody’s figure is completely absurd.
