2 comments | Wednesday, December 16, 2009
Selling your home because it’s a non performing asset?
Zillow is here to help.
I often compare the short selling of homes to the selling of stocks that are not delivering a fair dividend. How does that cause a rental market you ask?
This is what’s happening…
The surge of interest in rental properties is due to the decline in housing values. This is causing so many homeowners to walk away or to attempt a short sale of their homes. The Los Gatos Rental market is a glaring example. Have you tried to find a rental here? Those upside down sellers need housing and are searching for rentals in large numbers
It is fair to say Zillow has found a new product to peddle.
We can only hope that the lease prices are more accurate than the terrible performance of their “Zestimate” which, arguably, has not shown to be very accurate.
Their rental zite (yes zite as a play on their ‘z’ nomenclature) provides mapping too. If you have any experience with the search engine or results I am interested in hearing your opinion.
[...] http://michaelrobertshomes.com/2009/12/16/rental-listings-on-zillow/Foreclosure Search-Home buys in Los Gatos/Cambrian/Almaden/Willow Glen. Michael Roberts’ Blog – Buying Real Estate Foreclosures- Short Selling Homes in Santa Clara Realty World · Blog · Homes for Sale · Home Valuations · Featured Homes … [...]
[...] that agents post the true sale amount. Zillow, however, does not. Oftentimes one would find a “Zestimate” to be off the market value by thirty to forty percent. These “zestimates” lead the [...]