Wanting to know the true value of a home, a Yahoo Finance reporter turned to ChatGPT for advice on how much to pay for a house in Phoenix, Arizona. By inputting data like average prices, mortgage rates, and local market trends, ChatGPT produced a step-by-step plan for making an informed offer, including important factors such as comparable home sales, down payment amounts, and monthly payment calculations based on current interest rates. The AI emphasized weighing personal finances and budget limits rather than relying solely on listed prices.
Although ChatGPT’s advice offered a general overview consistent with what real estate agents might recommend, experts caution that it cannot replace professional human insight or up-to-the-minute market data. Ultimately, while AI tools can help educate buyers on the process and provide rough estimates, making a competitive offer still depends on in-depth knowledge of neighborhood trends, negotiation tactics, and local property values.
Read the original Arizona home sales article.