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Real Estate
Reply to "Please answer my dumb questions about Zillow/Redfin estimates"
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[quote=Anonymous]I don’t think either site reveals their algorithm but estimated are based on sq footage and the sales of houses nearby. Recent sales price also seems to factor in (the houses in my neighborhood that haven’t sold in 30 years have estimated that are very obviously too low). Most of a house’s value is in its lot and size, rather than finishes (this is why appraisers for insurance can just drive by) but a great renovation could excite buyers and raise the price. [/quote]
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