Profile picture for Pasadenan

Quote distribution by state?

Why are most of the quotes given for California, Washington, and Virgina?

For the past 24 hours, this is how the quotes were distributed:


Web address to read the names and numbers:
http://images2.zillow.com/is/image/i0/i2/i6030/IS17j4r799bb99f.jpg
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
May 11 2010 - US
We think we've answered this question for you!
  • Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.
 
 

Answers (18)

Profile picture for Pasadenan
Checking the Average number of 30 yr quotes received per request (based on 30 days of quote volume in rate trend charts, and 2 weeks requests on the loan search page with filtered criterion for the rate trend charts...), and comparing that to the number of ownership units in each state, it appears to be almost approximately a square-root function; but the curve fit is still quite poor with an R^2 value of only 0.3.  (It is much worse trying to fit to a polynomial).

So, here is the chart:


Web address to read names & numbers:
http://images3.zillow.com/is/image/i0/i2/i6232/ISqh6ubulkodk3.jpg

And an enlarged segment to read the cluttered area:


Web address to read names & numbers:
http://images1.zillow.com/is/image/i0/i2/i6232/IS17li67e1yodyb.jpg

So, who knows why Nevada is getting such an extreme number of quotes per request compared with all other states, especially as their # of ownership units is really not that high?

So, Nevada, Washington, Louisiana, Virginia, and Colorado are getting more than their fair of quotes per request, but Pennsylvania, Illinois, Michigan, New York, and Ohio are getting substantially less than their fair share of quotes per request...

Is this just a bias on the part of the loan officers, or is Zillow creating the bias?
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
May 14 2010
Profile picture for Pasadenan
Sorry gave the R^2 for the curve fit for number of requests as a function of ownership units.  The R^2 for the curve fit for quotes as a function of requests is even better.  R^2 = 0.971.

You wouldn't guess it the way so many of the states are so far off the curve.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
May 13 2010
Profile picture for Pasadenan
In case people hadn't figured it out already; a State to the right of the trend curve implies that the State is not receiving the quotes that would be implied by the requests; and a State to the left of the trend curve implies that the State is receiving more quotes than would be implied by the requests;  and the curve of the trend curve implies that the number of quotes received is not proportional to the number of requests, but the number of quotes increase more with number of requests in general.

The 3rd order polynomial fit is quite good in spite of the data for so many of the States being so far off of the curve.  (R^2 = 0.899)

So, which States should loan officers be concentrating on Quoting for less competition and higher probability of closing?  The ones to the right of the curve; the further right, the more requests that are going un-fulfilled.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
May 13 2010
Profile picture for Pasadenan
quotes by request (more enlarged...):



web address:
http://images1.zillow.com/is/image/i0/i2/i6177/ISqhtw5dzhnnab.jpg
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
May 13 2010
Profile picture for Pasadenan
30yr quotes (1 month) as a function of 30yr requests (2 weeks):



Web address to read names and numbers:
http://images3.zillow.com/is/image/i0/i2/i6170/IS17ks48uqr7q1v.jpg

Enlarged image:


Web address:
http://images2.zillow.com/is/image/i0/i2/i6171/ISqhwqznl863dv.jpg
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
May 13 2010
Profile picture for Pasadenan
Quote requests (all for past 2 weeks) as a function of # of ownership units (2000 Census):



Web address to read names and numbers:
http://images2.zillow.com/is/image/i0/i2/i6170/IS17krxb1fvtmlf.jpg
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
May 13 2010
Profile picture for Pasadenan
"Have they paid you a consulting fee yet?" -

No; I don't want a consulting fee for that or for anything from Zillow; I just would like more accurate data and easier access to it.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
May 12 2010
Profile picture for Pasadenan
Sorry, made an error on the last two charts; I started wondering what happened to Virginia then realized I had the wrong data for Virginia.

So again:
30 year fixed requests complying with trend charts:


web address to read the names and numbers:
http://images3.zillow.com/is/image/i0/i2/i6129/ISqie7u8ham8ir.jpg

And all requests for past 2 weeks:


Web address to read names and numbers:
http://images1.zillow.com/is/image/i0/i2/i6129/ISqie7u0l660mb.jpg

Still, a lot more quotes being made for Virgina than would be implied by the number of requests.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
May 12 2010
Profile picture for Pasadenan
Here is the 2-week quote request distribution for all requests:



Web address to read names and numbers:
http://images1.zillow.com/is/image/i0/i2/i6129/ISqie8eeko2ffn.jpg

The position and percentage for Florida on this chart as compared to the requests that meet the criterion for the interest rate trend charts indicate that the majority of requests in Florida either cannot meet the 80% max loan to value ratio, or that they are looking for other loan types, such as variable, or that they have lousy credit ratings.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
May 12 2010
Profile picture for Pasadenan
Here is the quote request distribution by state, for requests over past 2 weeks that meet the requirements for the 30year fix interest rate trend charts (FICO 680+, LTV <= 80%):


Web address to read then names and numbers:
http://images1.zillow.com/is/image/i0/i2/i6129/ISqie8svgtswwz.jpg

This seems to indicate that the majority of requests in California are redundant and/or bogus.  It also seems to indicate that ZMM is not well known in most states.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
May 12 2010
Profile picture for Pasadenan
You might also note where Washington State is ranking on population, ownership units and Zillow listed units compared to "loan quotes".  Obviously it is getting more loan quotes due to Zillow being located in that state.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
May 12 2010
Profile picture for Pasadenan

Here is the population distribution by State, from the 2000 Census.  I have lumped the states with less than 2 million people into the "other" category.



Web address to read the names and numbers:
http://images2.zillow.com/is/image/i0/i2/i6120/IS17k71930o93mr.jpg

Note the trade in position between New York and Florida when comparing with ownership housing, implying that New York is an "apartment" state in comparison.  But still the 4th most ownership housing units in the U.S.

Why so few loan quotes?
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
May 12 2010
Profile picture for Pasadenan
Here is the ownership housing distribution per the 2000 US Census data.  Any State that had less then 1/2 Million, I've lumped in "other" rather than show those tiny slivers.



Website address to read the names and numbers:
http://images2.zillow.com/is/image/i0/i2/i6116/IS17k5cnucnlear.jpg

Reasonably close to the distribution of housing noted for sale on Zillow, but there is a disproportionate number of people trying to sell in Florida that are listed on Zillow.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
May 12 2010
Ok, I'm impressed!  Seriously, that's quite a bit of work. Have they paid you a consulting fee yet? 
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
May 11 2010
Profile picture for Pasadenan
Well, here is the distribution of housing for sale on Zillow, by State.



Web address to read numbers and Names:
http://images3.zillow.com/is/image/i0/i2/i6030/ISqjk5ukzibyqr.jpg

Obviously, there is no correlation to what is for sale and how/where loan officers are quoting.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
May 11 2010
Profile picture for Pasadenan
I noticed 3 years ago that the Zillow page hits were completely out of wack.  I was getting 1000 page views a day to my house, and those that were trying to sell on the east coast couldn't even get 12 page views per week, even using some of the suggestions I gave.

Where there is more people, more housing, more agents and more loan officers, there is more synergy and more demand.  And Zillow has better and more complete data and access to satellite and drive by views for California than many other states.

But it does mean that there is way too much competition in California, and that there is more market opportunities in other less active States.

But if there aren't listings and jobs and homes for sale that people want, why would they even come to Zillow?
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
May 11 2010
 Wouldn't it make sense that the same ballpark proportions would apply for overall visititors to Zillow? 
I.E. 40 something % of all Zillow hits should be coming from Ca?  And only 1 or so % are coming from NY? (Etc.) 
If this is indeed the case, maybe Ca has been receiving much more zillow marketing/exposure then NY and other states? Otherwise, without manual manipulation, why else would the proportions be so out of whack? 
(hum)



 
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
May 11 2010
Profile picture for Pasadenan
Distribution for past month:



Web address to read the names and numbers:
http://images1.zillow.com/is/image/i0/i2/i6030/IS17j4rabr1mbvn.jpg

(Obviously, everyone knows that California only makes up about 1/10 of the nation's population and housing..., and that there are more renters here than most states)
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
May 11 2010
 
Related Questions
Zillow Mortgage Education Center
  • Asked by AndreaSmolin
  • In Mortgage
  • June 07 2013
Rates on the move again!
Latest answer by Pasadenan
1 hour 26 minutes ago | 4286 answers
get rid from all skin problem
Now to love him waste left him
HELOC for Investment property with High DTI
Profile picture for Dave  Skow
Latest answer by Dave Skow
3 hours ago | 3 answers
Mortgage Rates
 
Be A Good Neighbor

Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.