How Much is That House in the Window?
turbotodd 100000388Y Visits (2241)
The culprit this time around? Zillow.Com, a Seattle-based start-up that lets you look up the value of your boss's nice big house on the other side of town.
Zillow's beta site launched this week and allows users to look up estimated home valuations, along with other detailed information. It also provides "Zestimates": the estimated maretking value of a home; and a "Zindex": a housing index which provides the median "Zestimate" housing value for a given geographic area on a given day.
C:NET calls Zillow the "Kelley Blue Book" for homes...I call it a plain, powerful Web Two Point Uh-Oh application that's likely to send realtors scrambling for their cell phones.
Apparently, it has already sent the Zillow folks scrambling for some new server capacity due to a virtual Oklahoma land rush when the site launched...
(Blogger's Note: I am happy to put the folks at Zillow into contact with one of our iSeries sales reps. Just email me at the address in my bio above)...with C:NET reporting that the site was underperforming yesterday due to overwhelming interest: interest from overleveraged sellers with adjustable rate mortgages charging them entirely too much interest.