Reply to Zillow shows "estimated net proceeds"

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[quote=Anonymous][quote=Anonymous]I'm sure the Zillow feature "estimated net proceeds" is not always accurate. It happens to be accurate for my house. If we sold right now (assuming we sold for what Zillow thinks it could sell for), we would have over $500,000 in estimated net proceeds.  That's the house selling price, minus the amount still owed on the mortgage, the closing costs, and the "prep and repair" costs.

I am noticing a lot of houses in my area selling for $1 Million to maybe $2 Million dollars, with an estimated net proceeds of $100,000 or sometimes significantly less.  To me, that is not very much money to walk away with/ put into a down payment on the next place.  It suggests people selling because they can't afford to live there anymore, because it's almost all of the houses I've checked in our area (north of Baltimore).

Am I reading this wrong?[/quote]

Are you looking at when the purchased the home?  Obviously, if they bought it since like 2024, then it makes sense the net proceeds aren't going to be super high.[/quote]

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