Two Major real estate industry players have countered the Zillow phenomenon with their own home evaluation system.
For Fidelity National Real Estate Solutions this is kind of a no brainer. Title companies have provided limited registered access to property records for years.
NeighborhoodHomeSales is the website. The Real Estate book joins Fidelity, HomeGain.com, HouseValues, HomeSmartReports of course Zillow with their model called FastValues.com.
This is a manifestation of my Rule : "Technology Hath No Value". They are all pulling from basically the same database. Does the data have any validity in the real world. Next time you refi, try to save on your apprisal fees and ask your Lender to use one of these online evaluations.
It's all cute, but too much information can be a bad thing. I am sure agents across the Country will have to combat the inevitable, "But Zillow told me it was worth $X".
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