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Those places have all seen an influx of new residents amid the pandemic's "work from anywhere" boom.
Zillow and its Trulia subsidiary make money by selling sheep to wolves, which is not a very nice thing to do.
That is, they make money by selling buyers to realtors.
Redfin raised my home price estimate by $50k this past week.
Redfin raised my home price estimate by $50k this past week. Huh?
Zillow and the likes don't and likely never will have an algorithm to figure that out.
BayArea says
Redfin raised my home price estimate by $50k this past week. Huh?
Not one of these estimation services is remotely accurate. They're worse than political pollsters by a long shot. Your house, outside of a HELOC is technically worth nothing until someone writes a contract to purchase it and you get the cash or pay off the mortgage. Until then, the value is a roof over your head and running water and sewer/septic.
The estimation game from the likes of Zillow, Redfin, etc. is all a game to get leads for brokers. It's what I did for 15 years. They give zero shits if they're accurate. None. Estimating even a rough value on every residential property is not realistic. Commercial RE is different as it's math and not emotional. Residential will never be predicted well. The exact same houses next to each other in a tract subdivision could sell for 10...
One aspect of their business is lead generation, yes. Is Zillow a nationwide broker?
.
https://finance.yahoo.com/news/pimco-kiesel-called-housing-top-160339396.html?source=patrick.net
Bond manager Mark Kiesel sold his California home in 2006, when he presciently predicted the housing bubble would pop. He bought again in 2012, after U.S. prices fell more than 30% and found a floor.
Now, after a record surge in prices, Kiesel says the time to sell is once again at hand.
.
WineHorror1 says
One aspect of their business is lead generation, yes. Is Zillow a nationwide broker?
When I was there, almost all of their revenue was payments from realtors for betraying innocent buyers.
When I was there, almost all of their revenue was payments from realtors for betraying innocent buyers.
This 100%. Makes no sense to go through all that work and headache.
ad says
.
https://finance.yahoo.com/news/pimco-kiesel-called-housing-top-160339396.html?source=patrick.net
Bond manager Mark Kiesel sold his California home in 2006, when he presciently predicted the housing bubble would pop. He bought again in 2012, after U.S. prices fell more than 30% and found a floor.
Now, after a record surge in prices, Kiesel says the time to sell is once again at hand.
.
I just don't understand it when the wealthy do this. Selling primary residence and moving into a rental is a HUGE headache. Not to mention transaction losses and tax implications, which there are if you don't buy within what, a year? (he waited 6 years) You may save/make money in the end with accurate timing,...
Using possible rental income on loans is the same as stated income loans back then.
Mortgage delinquencies have not played out yet as many states still in forebarences. Add student debt moratoriums in that and it could be a lot worse than the last bubble.
Using possible rental income on loans is the same as stated income loans back then.
Mortgage delinquencies have not played out yet as many states still in forebarences. Add student debt moratoriums in that and it could be a lot worse than the last bubble.
Home Depot
thats why they went on loan forgiveness, preventing collapse
This 100%. Makes no sense to go through all that work and headache.
FortwayeAsFuckJoeBiden says
thats why they went on loan forgiveness, preventing collapse
Schemes like loan forgiveness come at a cost, the cost is printing money? Its a ponzi scheme.
Booger says
https://nypost.com/2022/06/20/capital-economics-reports-us-home-prices-to-sink-by-2023-as-mortgage-rates-hit-6/
6%!
That's IMPOSSIBLE, @Booger
PatNet 'experts' earlier this year said so. And when I said (basically) "Hold my beer and just wait!", I got lectured how that wasn't going to happen based on their self-proffessed 'expertise' in the housing market which - their 'expertise' -had nothing to do with the Fed or macroeconomics.
But what do I know?
A whole whopping 5% huh?
SFH is king.
I don’t see any new ones going up
BayArea says
SFH is king.
I don’t see any new ones going up
That is good for you, but remember, ANY of your neighbors can subdivide by right (due to SB9) and build another house on their lot. They're literally making more land in California...
How much will prices decline?
What could go wrong?
« First « Previous Comments 115 - 154 of 5,687 Next » Last » Search these comments
https://finance.yahoo.com/news/pimco-kiesel-called-housing-top-160339396.html?source=patrick.net
Bond manager Mark Kiesel sold his California home in 2006, when he presciently predicted the housing bubble would pop. He bought again in 2012, after U.S. prices fell more than 30% and found a floor.
Now, after a record surge in prices, Kiesel says the time to sell is once again at hand.