How can a realistic comparison occur without actually inspecting the interior for renovations to kitchen, bathrooms, basements, etc
Heck, even DIY painting vs professional painting. And dated wallpaper, quality of light fixtures, landscaping, date of roof, etc. Even garages can be very different from unfinished to drywall, wall/attic insulation, epoxy floors. I look at Zillow and just shake my head at estimates among neighborhood homes.
Yes, I know its correlated to lot size and square footage. I have also bought houses before where the appraisal was made against recent sales that were like “are you kidding me” they were so bad.
In: Economics
They are estimates for the exact reason because they dont have all the details.
It works decently because most of the price is in land value and in the size most other things are fixable for relative small amounts and most people will renovate anyway so it doesnt realy matter if the wallpaper is dated or the light fixture is cheap.
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