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Zillow has launched a new site:  RealEstate.com that is specifically designed to serve first time home buyers with finding a home that they can afford.  It’s very interesting and worth looking at.

Here is the Housing Wire Story.



additional comments on
"Zillow Launches New Site"

  1. Kirk Johnson says:

    The Zillow concept is exactly what I’ve been telling buyers and Realtors for the last 15 yrs. Most people can qualify for a lot more than they feel they can afford. (even in todays market) I always start my customer interview with the question… What’s your payment goal or is there a price point you’ve been looking at? Most buyers have an idea of the payment they would like or would feel most comfortable with. Now Realtors I have always used this to sell them on the idea of getting buyer “pre-approved”. If a Realtor goes out and started showing a customer $250K homes and then the customer get pre-qualified and can only buy a $200K home They are going to be disappointed or let down because the homes at $200K are not going to look like the homes at $250. Now the Realtor has created their own customer service issue by showing the customer something they cannot have. That’s a buyer they may loss as a result of not getting pre-qualified.

    I think Zillow is on to something big!

  2. Alan Van Zee says:

    While the concept may be a good one, comments from others are dead on right: teh information provided is horribly inaccurate! Check what they quote for this prperty: https://www.realestate.com/120-hanohano-pl-honolulu-hi-96825–625456

    The quote a 20% down payment on a $4,800,000 property. The closing costs are unrealistic. Escrow and title fees would be more than they quote.

    The kicker is what they list for monthly expenses. $78 for insurance on an almost $5,000,000 home?

    Then they list utilities at $14,600 per month !!

    Gotta love technology!

  3. Barry A Blake says:

    I’ve been buying leads from Zillow for about 2 years, 90% of the leads are crap. but the zip code I’m paying for, 1 closing will pay for 2+ years of subscriptions. I’m not sure that will work in a more expensive zip code with more Real Estate offices. I’m way ahead with the 3-4 closings a year I get with zillow compared to most advertising.
    My best return for my $ has been Face Book, $0.00 for 3-4 deals a year!
    The rest are calls from listing signs, person to person at Church or at a bar, etc. or referrals from previous customers. good show, now back to work for me

  4. Nicole says:

    I went to their site to test out their estimate for closing cost and it kept giving me the same amount for closing cost on a $250K and $450K house. Saying closing cost were $5900? I had to go in and manually adjust everything to get a more accurate estimate.

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