Zillow.com says their mission is to empower customers to make smart decisions about homes, real estate, and mortgages using the wide array of information and tools they make available to their members.
According to their website, Zillow.com maintains a database of more than 110 million homes across the United States. The information they compile on these homes is intended to help everyone in the real estate industry, from buyers and sellers to landlords and renters to professionals and so on.
Zillow.com may best be known for their “Zestimates.” A Zestimate is an estimation of a particular home’s value, which is created using a proprietary formula then generated by a special algorithm.
This home value is calculated from specific public data, such as the home’s physical attributes like location, lot size, square footage, etc, as well as the price history and tax history of the property.
This estimated value also takes into account user provided data, such as updates which have been made or remodeling projects which have been completed. Zillow.com says the more information they have on a property, the better.
Zillow.com also provides Rent Zestimates, which they calculate based on information pulled from public property data as well as similar rental locations within the area. Their algorithm finds a pattern between the stats of a property, its location, and what it rents for.
If you are a home owner or landlord that has complaints about the Zestimate of your property, simply check to make sure all the available information is accurate, and add the requisite information to help adjust your property’s value. Zestimates are refreshed three times a week for updates.
Zillow.com also provides a mortgage matching service, called the Mortgage Marketplace, if you are looking for a lender.
If you have any experience with this site, please leave your Zillow.com reviews below.
1 ‘Zillow.com’ Review
I have used them since 2009. I tried them along with other real estate webs. and at first they were a little slow in updating info on changes in property info. But now, they are faster than some websites who are actually selling the listed property.
I get stat updates on properties instantly. My landlord was foreclosed on and I received an email on it. This is now 2014 and I go to them first before looking at other real estate websites.