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HUD Uses Zillow Valuations on Short Sales
HUD Uses Zillow Valuations on Short Sales
Coming up with a home sale price on a RI short sale should not be like bobbing for apples.  Should it?  All I can say that my last short sale approved sales price was from Zillow!  Yes, both my seller and I happened to look at their zestimate and lo and behold were struck it was the new price the bank wanted.  The buyer could not believe it either since his family had found the same figure online.   Now the BPO had been done before I listed the home as a short sale.  The bank appraiser knew the neighborhood and current comps.  I am sure he did not come up with this figure.  My comparable home price analysis was a couple of thousand below this bank approved price.  Condition, location and the right price makes a RI real estate sale happen whether it is a regular sale or a short sale.     My experience on pricing well has been very good on short sale property and rarely challenged by the bank.  Yes, I do get a bit upset when even my current home price is not supported by the new 'Z' price.  I take ownership in my home pricing! ... more

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