Zillow and 'Zona Duel Over Zestimates--Update

Posted by: Peter Coy on May 1, 2007

Update for people following Zillow v. ‘Zona.

The Arizona House has passed a bill that would let Zillow.com provide Zestimates in Arizona. Now the bill has to go back to the state Senate. But it’s looking like Zillow is going to come out of this OK.

For aspiring lawmakers, here’s the nitty gritty of the legislative action.

Reader Comments

James Boyer

May 4, 2007 4:12 PM

Hmmm, more highly In-accurate zestimates. To get accurate estimate of what your home likely would sell for in today's market you really need to contact a Realtor in your area. Some company like zillow is only pulling tax records and a few sales around your home but really does not know if those homes are at all comparable.

James Boyer
Keller Williams Realty
488 Springfield Ave.
Summit, NJ 07901
973-647-0253 Mobil
973-376-0033 Office

bob

May 8, 2007 8:18 AM

So what you are saying, James the realtor, is that I need to go to a realtor to get an accurate estimate because comparables having nothing to do with location? Give me a break. Is zillow supremely accurate, well of course not. Its not a bad tool though. In most cities it comes down to land value. Here in the DC area, most houses are worthless and the land is what determines the home price. I don't know why realtors are so scared of competition.... OH, cause they will have to be truthful!

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BusinessWeek editors Chris Palmeri, Prashant Gopal and Peter Coy chronicle the highs and lows of the housing and mortgage markets on their Hot Property blog. In print and online, the Hot Property team first wrote about the potential downside of lenders pushing riskier, "option ARM" mortgages and the rise in mortgage fraud back in 2005—well ahead of many other media outlets. In 2008, Hot Property bloggers finished #1 in a ranking of the world's top 100 "most powerful property people" by the British real estate website Global edge. Hot Property was named among the 25 most influential real estate blogs of 2007 by Inman News.

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