![]() "And the reason is that there is such a benefit to the public to knowing how much you should be paying for houses and how much you should be selling houses for," he said.īrad Inman, who runs a real estate news and information Web site, says that checking home prices is similar to checking the stock market quotes in the 1990s, when the market was booming. But perhaps 100 percent accuracy shouldn't be the only concern - there's also privacy to consider.Īre you comfortable with having all your neighbors and all your friends know how much you paid for your home?įrink said it's something he's becoming more comfortable with. The site's 'zestimates' are most accurate in Seattle, San Francisco, Los Angeles and Denver, but they can be off the mark in other cities. He does admit that Zillow has a way to go, and it's not the only Web site offering home valuations, but it wants to be the most comprehensive. Does this house connect with you, and is this something that you want to invest your own hard-earned money in?" "Because in the end, that is really what it is all about, getting the emotional feel. "Zillow is meant to be the beginning point of the process, and it is not meant to replace going out and going in to these houses," Frink said. Then there is the more emotional, qualitative portion of figuring out how much a home is worth and then want to consult an expert." "One is the very analytical, data-driven side, kind of the facts, which is what we are trying to provide you on Zillow. "We think there are two parts to buying a home," Frink said. Its servers crashed on launch day back in February, under the crush of people curious to know what their home - not to mention their best friend's and their neighbors' homes - were worth. They figured they could do for home buying what they'd done for travel.Īnd Zillow has tapped a nerve in the real estate marketplace. Frink and his Zillow co-founder Rich Barton are the guys who turned ordinary travelers into travel agents - they're the brains behind the online booking site. This isn't Frink's first foray into putting do-it-yourself price comparisons on the Internet. The site gets its information from public records, tax assessments and comparables from recently sold properties, then mixes it all up using complex algorithms to come up with what they call a "zestimate." Zillow offers free, instant valuations and data on 65 million homes across the country.
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