Zillow Launches: Valuation Tool For Homeowners
If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!
The long anticipated launch of Zillow.com occurred last night in Beta form. The company unveiled the product which will provide valuation services for homeowners. By providing the service online, Zillow hopes to provide an accurate valuation for homeowners and buyers in the real estate marketplace.
While others charge for this service online, Zillow is going to be working off of an advertising revenue model so the product will be free for consumers. I personally think this is the way to go, as people are reluctant to part with their money if there is a free alternative available. The initial feedback
Richard Barton, founder of Zillow.com says on his blog:
We experimented with several different ideas early on, but, after talking with many consumers and agents, we landed on the ambitious goal of trying to place a value, what we cleverly call a “Zestimate,” on every house in the country and making this freely and anonymously available to anyone — kind of a “Kelley Blue Book” for homes. Additionally, we have tools with which anyone can analyze home price histories (like analyzing a stock), look at “comps,” and refine our Zestimates with information that only someone who has been in the house could know.
(It looks like the site is getting pounded right now as people are checking it out, so if you are trying to get onto Zillow.com be patient.)
It is definitely the buzz of the real estate blogworld today and the media.
It is possible that you are right. I do believe the solution is (what is happening now) allowing home mortgagees ...
I work in real estate and I must say that this is some troubling information, however, I am confident that ...
I saw this earlier today and thought the exact same thing, Tom. The politicians have been pushing homeownership for ...
I just found your blog and it's filled with great information. One of my goals this year is to update ...
Thanks for the kind words. I promise you the first year we did not have this level of readership. It ...
The limit on jumbo's is either 417,000 OR it is 115% of the median house price, not to exceed 150% ...
Yes, there are some deals out there. While there are some deals out there, I'm an agent looking for ...
With mortgage rates poised to drop to 4.5 percent all we need now is some tax incentives to help home ...
I think the overall interest in refinancing was definately high recently. However the problem is that although the rates dropped, ...
Pingback by Zillow Secrets Revealed? Some were today… » The Real Estate Bloggers on 8 February 2006:
[...] Zillow went live with their beta today. We have it covered here. The following was a prognostication I made a few weeks ago. [...]