I am happy to announce that we are now offering Zillow’s home value estimate tools on our website for all of the homes currently for sale on our website. Before I go any further, I just want to reiterate the fact that the Zillow Zestimate™ should be used as a starting point when estimating a home’s value. As with purchases of any kind, an informed consumer is one that uses as much information available to them as possible to make his or her decision – the Zestimate is just another piece of helpful information. It is always wise to contact a real estate professional to obtain a comprehensive analysis of a home’s value, since home values often involve many intangible qualities.
Now, back to our new feature… To use Zillow’s tools on our website, look for this icon on any home detail page:
Clicking on this icon will allow you to compare the price per square foot of the home based on the list price, the Zestimate price, and the average of nearby homes for sale – all in one central place. This information can be useful to get an initial feel for how the home’s list price compares to the estimated value of the home from Zillow as well as from other recent home sales.
You will also be able to see some useful information on the home’s estimated price history, the last sales price and date of the home, and the accuracy of Zillow’s estimate for this particular geographic area. For complete Zestimate home details, you can click over directly to Zillow’s website to view the Zestimate.
Feedback, suggestions, or comments are always welcome.
Happy house hunting!
Myron Lo
Director, Product Strategy
How much is your home worth? Well, it all depends where you live.
The real estate market is still shaking. New data suggests that home prices have hit a new record low. In every new study that comes out, homeowners from Miami, to Las Vegas, Phoenix and Los Angeles, have seen their home value go lower every time.
Is that disappointing? Of course it is.
Should we sell? Is not a good time.
Should we stick to it? Yes, if you can.
Have we hit bottom? Nobody knows.
Banks are facing their worst foreclosure crisis.
Don’t take me wrong, it’s good if you are in the market to buy a home for yourself or if you are an investor, but if you are not, and you own a home, most likely the value of your property is down at least 15 %.
Why do banks care if you are loosing your home? By having to sell repossessed homes, banks have to literally slash their prices down. It gets very costly for them, after all, they have to pay property taxes, maintenance costs, and whatever utilities that need to be paid, all of this expenses for a house that it’s just sitting there, vacant, and the bank is getting nothing in return.
The latest study by the S&P/Case-Shiller Home Price Index of 20 cities, revealed the news that for 22 consecutive months home prices dropped. Only from April to May, 2009 the decline was of 0.9 %
Posted by: yanni raz | August 08, 2008 at 01:20 PM