zillow estimates higher than seller's offer? why?

Every search system has a degree of error associated with it.

Having a Realtor help you (you need one to actually BUY a foreclosure, you might as well have one to help you look) will get you the most accurate numbers. The MLS is the most accurate way to determine what is really happening in that neighborhood and with that particular house.

Zillow is accurate to a degree of plus or minus about 80% I think. So if they say the house is worth $100k, then you know it is somewhere between $20k and $180k.

Your first error is looking at Zillow, which is mostly clueless concerning market values. Zillow values are generated by a computer system, and that computer has NO idea in what condition the property exists.

because zillow is a brainless computer. it doesnt know when the plumbing is bad or a roof needs fixing. Its assuming the house is in perfect condition.

I saw the same thing on a house i was looking to buy. Foreclosure estimate was 200k. Bank wanted $115k. Sat on market for 6 months. Sold for $98k. It looked good in the pictures, but when I went to inspect, there was a leak in the roof that soaked through 3 floors (was a 3 story building with basement)

The tax value has not something to do with the actual marketplace value of a sources. Your Realtor is authentic with regard to the bid. i think of your concepts-set could be a touch off. You "start up the bidding" at an public sale, you're making an furnish on a house. in the journey that your preliminary furnish is basically too low the broking will probable think of you're actually not a extreme shopper and could reject your furnish and not using a counter or gets annoyed and counter with record or greater. For a catalogue of $219,900 in case you return in under $197,000 you will probable offend the broking. Your agent could be exhibiting you comps and guiding you to a honest furnish. in the journey that your marketplace section continues to be undesirable 10% under record could be honest, however the furnish you're suggesting is greater effective than 20% off record. keep in mind that a house is an emotional situation for somebody to sell. they think of their residing house the place that they had good circumstances, raised their toddlers, spent trip journeys, etc. is particular and get excitement from whilst a ability shopper respects that. A lowball furnish disrespects the sentiments that they've for the residing house.

Yeah, zillow's a robot. Same deal with rental zestimates.

When I was helping my daughter look for a new house, I used redfin.com alot.