Zillow Advice RSS: Guide,All Real Estate Advice Topics,

Zillow API Resources

Tue, 17 Nov 2009 03:29:00 GMT

Wrappers:

rillow - Ruby
Zillow - NetBeans
PHP

Wordpress:
Local Market Explorer - create city/ZIP/neighborhood pages (Zillow Blog Announcement, details on how to customize the LME plugin to create state pages that drill down to city)
Mortgage Center - mortgage resource center in Wordpress (Zillow Blog Announcement, Version 2 announcement)
ListingPress - embed listings in Wordpress (Themes at ListingPress.com)

Blog Posts:

Building a mortgage rate widget with ASP.net and C#
Building a Simple Mashup in 24 Hours

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Zillow Recommended Technology Providers

Tue, 10 Nov 2009 19:44:00 GMT

IDX Providers

Diverse Solutions is the leading innovator in real estate technology. With the recent release of the new version of dsSearchAgent, their map based IDX solution for your website or blog; they have redefined what an IDX search experience should be. Other available products include lead management tools, email marketing and website design. Learn more

Website Providers for Lenders

220 Marketing

Website Providers for Agents/Brokers

z57

Agent Image

Virtual Tours

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Saved Credit Card Information on Zillow

Mon, 02 Nov 2009 22:22:00 GMT

What kind of credit card information do you save on Zillow.com?

We save four pieces of information from your credit card on Zillow, including:

Name
Expiration date
Type of card
Last four digits

Why do you save my credit card information?
For Zillow account holders with recurring accounts, we offer to save credit card information for expediency and simplicity. It saves account holders from re-entering information each month. Also, account holders with a one-time payment have the option of saving their credit card information.

How do you keep credit card information safe?
We store and process your full credit card information with a reputable third-party payment- processing company that is a standard in the e-commerce industry. We store minimal information on Zillow.com, and that information is securely stored with 256- bit encryption and Secure Sockets Layer (SSL) protection. Your credit card information is extremely secure.

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Hong Kong

Fri, 23 Oct 2009 17:30:00 GMT

Hong Kong is Asia's Major Financial Center, The New York City of the East. Most consider Hong Kong to be the gateway to China and its thriving international population represents citizens from most countries in the world. Hong Kong have over 250,000 Expats and many more who have become permanent residents now classified as 'Local'. It is a very freindly city for Westerners to acclimate and offers all the convenience and comfort or home in a fast paced and high energy environment.

Hong Kong is very similar to New York city with a high density population where people live primariy live in high-rise buildings. English is commonly spoken and is the language all business and contacts are conducted.

The property market in Hong Kong is well established and resembles that of the United States. It is situated near 45 minutes from mainland China. Hong Kong has the most efficient and advanced airport in the world with convenient daily direct flights to all major APAC cities and major global cities.

See listings in every major city in Hong Kong.

See home prices in Hong Kong.

See Hong Kong property information at the local level and learn more about the people in the area.

Other areas in Hong Kong:

Hong Kong Island
Kowloon
New Territories
Outlying Islands

More at PropGo.com

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What is Make Me Move?

Tue, 20 Oct 2009 18:17:00 GMT

What is Make Me Move?

Make Me Move is a free and easy way to tell others the price you'd be willing to sell your home for, without actually putting it on the market. It's that magical number you just can't refuse.

How Does It Work?

Once you set your Make Me Move price, potential buyers can contact you via e-mail and your identity will remain anonymous. Then it's up to you whether or not to sell your home. Try it out! You can remove your Make Me Move price at any time.

>>Set a Make Me Move Price

Make Me Move Success Stories:

Laurie B of Lake Forest, Illinois, says, "We put our house on Zillow with a Make Me Move price and the first person who called came to the house and made an offer. We closed within the month!"
Ron G of Los Angeles was about to retire so he posted an MMM of $1.6 million for his house. The next morning he was contacted by a buyer, and within a week had a check for the total MMM price, 14 percent over the Zestimate.
Nick C and his fiance were busy people who didn't want the hassle of listing their Seattle condo. Deciding on a "passive-aggressive" approach, they posted an MMM price. An agent for a retired couple saw the MMM and contacted Nick with an offer $10,000 less, still 12 percent over the Zestimate. Nick contacted his own agent, and the transaction sailed through.

Why Use Make Me Move?

Pre-market

Thinking about selling soon? Use Make Me Move to start gathering interest from potential buyers.

Meet Sarah: Sarah lives in a 1920s house with her 17-year-old daughter who will soon head to college. Since the house is old and requires a lot of upkeep, Sarah wants to buy a smaller home in a brand-new development that is being planned a few miles away. She's not ready to formally put her home on the market, but she wants to get the word out that she would like to move within the year.

Opportunity knocks

Your "plans down the road" might happen sooner than expected if the right offer comes along.

Meet Mike: Mike works in the city and lives in the suburbs with his wife. They have a second home in the Southwest where they plan to retire when Mike turns 62, so they still have 10 years in their primary home... or do they? Mike is a little tired of taking care of his 2-acre property, the kids are out of the house, and it would be nice to avoid the commute, plus enjoy all the city has to offer. Mike is thinking if the right opportunity came along, he might just be tempted to sell it, downsize, and rent a place in the city until he's ready to retire.

Pie in the sky

Flirt with the possibilities. Every seller has a price -- what's yours?

Meet Ryan: Ryan is 32 years old, single, and has a great job as a senior accountant at a health insurance company. He bought a one-bedroom condo a few years ago, but there's nothing holding him back from changing direction at a moment's notice. He would travel for a year -- or more -- as he's always dreamed. His life could be a blank canvas from which to start something new. He would be daring, if someone gave him the right price for his condo.

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Category - Real Estate Scams

Tue, 20 Oct 2009 17:21:00 GMT

Consumers, beware! White collar crime is invading the real estate industry and the scammers are targeting homeowners, home buyers and home sellers with fraudulent deals. There's a lot of crazies out there, so stay on top of your game. Here is a list of some of the most popular real estate scams:

Foreclosure Fraud

Home Equity Fraud

Home Improvement Fraud

Loan Servicing Fraud

Mortgage Fraud

Spanish Real Estate Scam

Other Real Estate Scams

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Beware of Scams and Other Internet Fraud

Mon, 19 Oct 2009 22:33:00 GMT

While we'd like to think everyone is honest and respectful of each other, unfortunately, that's not always the case.

Scams are a reality of the Internet. Zillow strives to provide a safe online community where users can easily contact one another with advice and information relating to real estate, but there is one critical heads up you should take wherever you go:

Always be wary of giving personal information, financial information, or payments of any kind to people you don't know personally.

Zillow does not screen user e-mails. Most contacts via Zillow are legitimate, but some may be trying to fool you. To reduce your chances of exposure to fraudulent activity and to ensure the best possible Zillow experience, please take some basic steps to protect yourself:

Use Caution with the Following:

Long distance inquiries. Although Zillow enables long-distance as well as local interactions between users, you should take extra care in long-distance situations, especially from users in foreign countries. We have seen a number of scam attempts that involve individuals in foreign countries who say they are interested in purchasing homes.
Requests for personal and or financial information. With identity theft on the rise, it is a good general rule to provide your personal/financial information sparingly, and only to trusted sources.
Requests that you send or wire funds. Although this seems obvious, you should never agree to accept and/or wire funds for anything you did not initiate.
Offers to facilitate a home purchase or loan by an individual claiming an affiliation with Zillow. Zillow acts only as a source of information and is not involved in any transactions between buyers and sellers or borrowers and lenders. Any such offers are fraudulent activity.

Who to Contact for Possible Fraud:

Federal Trade Commission: via its toll free hotline: 877-FTC-HELP (877-382-4357) or the FTC online complaint form
Federal Bureau of Investigation's Internet Fraud Complaint Center
Non-emergency number for your local police department.

Examples of Scams:
Below are three fraudulent e-mails that we are replicating here verbatim. They were actually received by Zillow users.

Scam Example #1:
"Thanks for the speedy response,i am really excited that the house is in good condition, and i really love the pictures of the house i have seen so far, i would not mind to see more pictures of the home, i would like to know if i would have any repairs what so ever.

I work with the United nations development program(UNDP).I have been working there for 5 years.

I am married with no kid. I and my Wife actually got married last year. My Full name is PXXXX AXXXX kXXXX and my Wife's name is MXXXX DXXXX kXXXX.she is a school teacher,I am 39 years old and my wife is 35.Our current house address is 3XXXXXXXXXXXXX, EXXXXX Edinburgh Scotland.

I have never bought a property abroad before, this would be my first, and i am not working alongside any agents,i also want to know how soon you are willing to move out of the house.I and my wife are looking to relocate as soon as we have found a home we like,i would also like to know your final price for this property. please kindly get back to me asap."

This is the follow-up from a Zillow user:
"I just wanted to let FSBO sellers know that I listed my house on Zillow a few weeks ago, and I received an email from a man in Scotland wanting to buy my house. He sent me (3) $1,000.00 money grams, one of which was a deposit to hold the house. He sent an Urgent email yesterday stating that his company (United Nations) sent us $2,000.00 by mistake to send it back to him. He wanted new money orders from my bank. I emailed him back telling him that I checked with money gram and I was told they could not find any information to verify them. I haven't heard back from him, nor do I expect to."

Scam Example #2:

"Dear Linda,
I have received the information concerning your house,the price is $239,750.Am very confident dealing with you.I am willing and capable to buy the property,but i want to trust you with this confidential proposal.
Before i continue, let me introduce myself to you, I am Captain IXXXX HXXXX the commander of the Special N.A.T.O coalition force with the United Nation troops in Iraq,on war against terrorism.My country is germany.
I have now in my possession the sum of USD 6.5 million which was recovered from one of our raids on terrorists camps here in Iraq,because they keep most of their money at home for evil activities which they normally get through illegal deals on crude oil.

Based on the suffering we undergo here some of us do meet such luck. It happened that in our last raid last week we raided one of the terrorist strong base here in Iraq,though some of the men in my unit lost thier lives in the fierce attacks,and we recovered this huge sum of money.This box of money have been deposited with the RED CROSS OFFICE here in Baghdd informing them that contacts are been made for its safe keeping and to make contacts for its proper use . As the team leader it is under my power to approve whoever comes forth for this money.

So i need someone i can deal with on trust and that is why i contacted you. so If you accept, I will put you forward as the beneficiary/owner of the funds and then move the money to you in Europe first. As a military personnel i cannot parade such an amount or carry it to my country so i need to present someone as the beneficiary.I just need your acceptance and all is done.I have a 100% authentic means of transferring the money through diplomatic courier service to you in Europe where arrangements will be made to proceed to your country America.

Once i confirm your interest to my proposal.and your positive reply i will proceed to register your name as the beneficiary.

If you are interested, then let me know so i can proceed to register the consignment in your name as time is very important to me. I am doing this on trust, you should understand that as a trained military expert I will always be carefully in my dealings so everything is intact. This money is my life and i am willing to give you 30% of the total sum when the money is delivered to you. I wait for your response so we can proceed immediately. In less than 7days the money should be in your safe custody.

The only telephone access we have is radio message which is for our general use and is being monitored,therefore all communication will be via email till we finish our assignment here and fly straight to your country to meet you. Thank God that the new President Elect, Barrack Obama whose keen interest is to call us back home soon."

Regards
Capt.IXXXX HXXXX"

Scam Example #3:

"I am interested in purchasing the property on 17 LXXXX Rd, CXXX HXXXX VXXXX CO XXXXX.Although the price is much "$4,000,000". But i will convince my client regarding the property is a Single Family Residential. I know he must like it. I will like to view the copy of the contract of sale. As you are the real owner for this property. I will like to view the contract of sale. So it can be checked for any irregularities. Once the contract is okay and has been given the thumbs up by my client. I can then contact you and make an offer accorden to your request or Advise. I look forward hearing from you

Sincerely, Mr. CXXXX KXXXX BXXXX
7XXXX TXXXX bldg. 1-XX-XX HXXXX-IXXXX, TXXXX-XX ,
Tokyo Japan."

Bottom line:
Be wary, be safe, be smart.

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How to Pre-Market a Home

Thu, 15 Oct 2009 23:32:00 GMT

Remember the old joke about how to spread the latest news? By telephone, by telegraph, or by telling the neighborhood gossip.

Though the technology has changed, the idea of spreading the news that your home is for sale through both technological means and by plain old talking is still excellent advice. Even before you list your home or plant a For Sale sign in your front yard, tell everyone you know that your house is for sale.

Tell friends, neighbors, work colleagues, relatives, acquaintances at your church or health club, and your carpool pals. E-mail everyone. And be especially sure to tell the key people who get out and about and like to chat. They may end up selling your home for you even before your first open house!

The Neighbor Factor

Neighbors are often extremely helpful when it comes to pre-marketing your home. They may have friends or relatives who've always wanted to live in your neighborhood if only they could find the right house. Consider holding an informal open house for your neighbors. Make up an attractive, informative, one-page flier with a photo of your house and the date and time of a casual open house, and put one under every doormat for three or four square blocks. Though you probably don't have to do a basement-to-attic, spit-and-polish clean-up for this informal open house, the house should be reasonably neat, clean, and inviting. (No dogs tied to the front porch or kitty litter boxes in the kitchen.)

And you can't be coy about the sales price. You must by now have a clear idea of what you're going to ask for your home based on your research of the market. Be sure to include the sales price on the flier. Along with location, the sales price is a would-be buyer's single biggest question about your home. Save everyone time by being upfront about it. You're proud of the place. No need to beat around the bush about the price.

Some Other Avenues

You could put up your own For Sale sign, even if it's not the one an agent will ultimately put up for you. Lots of house hunters literally spend their weekends driving through neighborhoods they like looking for For Sale signs. Be sure to always include a phone number on the For Sale sign.

Have a talent for working with computers? Especially if you are trying to sell your home yourself, consider making a Web site about your home. (If you are working with a licensed real estate agent they will likely create a site for your home to add to their site.) There are many easily downloadable software programs that let you create your own simple Web site. You can include photos inside and out, along with the usual specific information about size of the rooms, age of the home, and amenities such as nearby parks or schools. If you create a Web site you should include its URL on the For Sale sign in your front yard.

And when you put ads in the local newspaper classifieds or list the home on sites such as Zillow.com, Craigslist, or Google Base, you should also include the url to your home's Web page. In today's Web-savvy world, many homes are bought and sold off of classified ad-style Web sites. It can't hurt to try them, and real estate agents themselves are increasingly using them to market their clients' homes.

If you work at a company that employs more than a few dozen people there's likely to be an in-house, online bulletin board or employee publication. List your house there. At big companies employee classifieds are excellent tools for buying and selling everything from kids' bicycles to homes.

A new way to test the waters is to put your house on Zillow with a Make Me Move price. The MMM price could be the real price you think your home will sell for, or it could be a price you dream it would sell for! You can see what happens - without any commitment because the contact between the seller and potential buyers is anonymous. If you don't hear from serious buyers, you can go ahead and post your home as for sale.

Pre-Marketing Checklist

1. If you are working with a real estate agent, be sure she knows you are doing a little pre-marketing yourself. Go over your program with her. She will likely be thrilled you're taking the initiative since it will save her time and make her job easier.

2. If the idea is that you are testing the waters before hiring an agent, be ready to accommodate offers - it just might happen! And you might have some idea of what agent you'd like to use - in case you want help with the negotiating or closing. In other words, be prepared for success!

3. Blab about your home. Tell everyone, even people who appear to have no interest in real estate. They may know someone who does.

4. Consider holding a neighborhood open house and have a flier ready to hand to anyone who comes. Remember, the flier will likely be passed off to your neighbor's friends or relatives who are house hunting, so be sure to include specifics about your home such as age, size of rooms, square footage, yard size, and other amenities. You should also add brief information about the neighborhood schools, such as their names and where they're located; nearby parks; nearby bicycle or jogging trails; and other amenities such as beaches or public swimming pools. If you've had the home inspected recently, and assuming the inspector found your home in good repair, mention that too. Some homeowners create an entire scrapbook of this type of information.

Photo Uploading Tips

Thu, 15 Oct 2009 23:32:00 GMT

Uploading photos of homes on Zillow is easy. Also, it's the #1 request buyers make when searching for homes for sale.

Owners: Upload photos to customize your home details page.

Agents: Upload a photo of yourself for your profile. It will also be displayed whenever you post a home for sale.

Learn more about taking photos of your house.

What our photo upload feature supports

Currently, our photo upload feature supports a number of image formats, including JPG, GIF, BMP, FPX, PNG, PSD, and TIF. (Note: LAB color space is not supported.) Only photos smaller than 5MB can be uploaded. It's not likely that you will face this limitation since most consumer-level digital cameras produce photos in the 1-3 MB range. Even if you're not trying to upload large photos, read on for tips to reduce the photo upload time on Zillow.

Preferred sizes and formats by feature

Home Details page:

The maximum dimensions allowed for the image is w500 x h375 pixels.

Profiles:

The optimal dimensions for the image is w75 x h100 pixels.
The best aspect ratio is 4:3 (height:width).

Showcase Ads:

The maximum dimensions allowed for the image is w140 x h70 pixels.
The best aspect ratio for a Showcase Ads image is 2:1 (width:height). This will fill up the image space in the ad most effectively.
The largest file size that can be uploaded is 5 MB.
To upload a photo, you must have all necessary rights to use the photo in this way, and to grant Zillow the rights in the Showcase Ads terms.
All photos and images must conform to Zillow's ad content guidelines.

Tips on how to make your photos smaller

One of the best ways to reduce the size of your photos is to resize them. While Microsoft Windows does not provide a direct way to resize your photos, there are many different tools you can use. Some might be on your computer already! Here are some suggestions:

If you have Microsoft Office 2003 installed, you probably also have Microsoft Office Photo Manager installed. (It comes with Office, and is installed as part of a standard installation.) It's in your "Program Files," under "Microsoft Office," then "Microsoft Office Tools."
If you own a digital camera, it probably came with software that can be used to resize your photos. Check your camera's documentation for details.
If you're running Microsoft Windows XP, you can download and install Microsoft's PowerToys for free. PowerToys contains a number of useful system tools, including the ability to resize a photo from the right-click menu.
Google's Picasa is a free tool for organizing, editing, and sharing your photos. Picasa can also help you resize your photos.
Another popular free tool for manipulating photos is IrfanView. This tool has batch processing for resizing multiple photos.
If you don't want to install any new software on your computer, there are several Web sites that will resize your photos for you, including resizepic.com, shrinkpictures.com, and resize2mail.com. Typically, you upload your photo and select a new photo size. The resized photo is displayed in your Web browser, where you can save it back to your computer.
For Mac users, we suggest you review this Easy resizing tutorial.

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How Zillow Takes Multiple Listing Sources (Video)

Fri, 02 Oct 2009 17:37:00 GMT

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What is a Zestimate?

Tue, 29 Sep 2009 21:58:00 GMT

The Zestimate (pronounced ZEST-ti-met, rhymes with estimate) home valuation is Zillow's estimated market value, computed using a proprietary formula. It is not an appraisal. It is a starting point in determining a home's value. The Zestimate is pulled from data; your real estate agent or appraiser physically inspects the home and takes special features, location, and market conditions into account. Variations in price also occur because of negotiating factors, closing costs, and timing of closing. We encourage buyers, sellers, and homeowners to supplement Zillow's information by doing other research such as:

    * Getting a Comparative Market Analysis (CMA) from a real estate agent

    * Getting an appraisal from a professional appraiser

    * Visiting the house (whenever possible)

    * Creating your own estimate using the My Estimator home valuation tool

What's the Value Range?

The Value Range, which is related to the Zestimate, shows the high and low values of a home (e.g., Zestimate is $260,503; Value Range is $226,638-$307,394). The Value Range can vary in magnitude depending on our historical ability to estimate similar homes. A bigger range indicates less data or more volatility in the data. A smaller value range means we have lots of information to help compute the Zestimate and Value Range.

My Zestimate is too low - or too high. What gives?

As we said, the Zestimate is a starting point in figuring out the true value of a house. For one thing, the amount of data we have affects the Zestimate accuracy. If your home facts are incorrect, you can update your facts, which may affect your Zestimate value. Also, we've never been to your house, never seen your expertise with colors and landscaping. So we've given you a way to consider them (and other things) in calculating a home's value. Use the My Estimator tool to create your own estimate. If you are estimating your own house, you can even make your estimate public, which is extremely valuable if you're posting your home for sale.

How does the amount of data affect it?

For example, the number of transactions in a geographic area affects how much we know about prevailing market values of homes there. The more transactions, the more data and the more accurate the Zestimate will be. Also, we use public data for house attributes, and some areas report more data than others. The more attributes we know about homes in an area (including yours), the better the Zestimate. Remember that homeowners can also update their home facts if they feel they are incorrect, and they may affect the Zestimate value.

Is a Zestimate an appraisal?

No. The Zestimate is not an appraisal and you won't be able to use it in place of an appraisal, though you can certainly share it with real estate professionals. It is a computer-generated estimate of the worth of a house today, given the available data. Zillow.com does not offer the Zestimate as the basis of any specific real-estate-related financial transaction. Our data sources may be incomplete or incorrect; also, we have not physically inspected a specific home. Remember, the Zestimate is a starting point and does not consider all the market intricacies that can determine the actual price a house will sell for, such as entertaining offers, negotiating, closing costs, timing, etc.

How do we come up with the Zestimate?

We compute this figure by taking zillions of data points - much of this data is public - and entering them into a formula. This formula is built using what our statisticians call "a proprietary algorithm" - big words for "secret formula." Currently, we calculate a Zestimate for more than 70 million homes and have data on 20 million more.

What's in this formula?

One eye of newt ... Actually, it's less wizardry than mathematics. When our statisticians developed the model to determine home values, they explored how homes in certain areas were similar (i.e., number of bedrooms and baths, and a myriad of other details) and then looked at the relationships between actual sale prices and those home details. These relationships form a pattern, and they used that pattern to develop a model to estimate a market value for a home.

Is that all there is to it?

That's oversimplifying something that is incredibly robust and sophisticated, but it's the basics. Hundreds of home details feed into the formula and the home characteristics are given different weights according to their influence in a given geography and over a specific period of time. And, because the details are always changing, the Zestimate is extremely timely - it indicates the value of a home based on the most recent data available in an area. We receive new data and update the Zestimate regularly to capture new sales in a neighborhood. However, there is a delay between when the county is notified of a transaction and when we find out about it. We might not know for some time about the sale of that house down the street from you that happened last week.

Why do I see home values for the past?

We not only have Zestimates for homes now, we have used massive computing cycles to go back in time to generate historic Zestimates as well. Sound hard? It is, but it's critical because it allows you to see how a home (or an area) has appreciated in value over the years. You can see a home's appreciation in a chart that looks just like a stock table. Your home is, after all, a major asset in your overall portfolio.

How accurate is the Zestimate overall?

Our accuracy depends on the home data we receive; see our Data Coverage and Zestimate Accuracy table to see how accurate we are in your area. (You can refine the Zestimate using the "My Estimator" tool, adding things you may know about but we don't, such as remodeling information.) When it comes to unique homes (e.g., luxury mansions, unusual designs) we are less accurate in our Zestimates.

Who calculates the Zestimate and how do they do it?

We don't have homing pigeons flying from land parcel to land parcel to come up with the Zestimate for a house, but we DO have statisticians who work all day - and some nights - with a huge amount of data. They live and breathe valuation models and tweak algorithms to get us closer to actual market value.

But you don't know about my granite kitchen counter and my river view!

It's true, we've never been to your house, never seen your expertise with colors and landscaping. Only you know those things. So we've given you a way to consider them in calculating a home's value with the My Estimator tool. Enter an address for any home, then click on "Create an estimate." My Estimator will walk you through the steps to adjust your valuation.

Can I use the Zestimate to get a loan?

No, you can't. To get a federally guaranteed loan, a law called FIRREA (the Federal Institutions Reform, Recovery and Enforcement Act) requires an appraisal from a professional appraiser. The Zestimate is our estimate of fair market value, a starting point for home buyers and sellers and anyone just plain interested in the value of houses. You can use it in negotiating, in judging market trends, and in calculating all sorts of things for your personal purposes. But, if you needed a loan or help in understanding the ins and outs of financing, please visit our section on investing.

Where does all the information come from? How can you know all this stuff?

It all comes from public data. The data is public because it's a consumer's right to have access to information about what is to be their most important investment - their homes. What? You've never seen it? That's because it is hard to find and hidden in multiple sources. Zillow has done the legwork for you by getting huge amounts of data from many sources and creating something unique that the public sources don't provide - a Zestimate of your home based on the public data.

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About the Zestimate for Real Estate Pros (Video)

Fri, 25 Sep 2009 20:34:00 GMT

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Can I Remove My Home From Zillow? (Video)

Thu, 17 Sep 2009 00:50:00 GMT

This is a common question we get: "Can I remove my home from Zillow? Please watch this short video to hear the answer:

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Overview of Zillow (Short Video)

Fri, 11 Sep 2009 23:41:00 GMT

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Zillow Local Pages

Fri, 11 Sep 2009 23:06:00 GMT

The Zillow Local Pages contains Zillow's Real Estate Market Reports that offers continuously updated real estate data nationally, as well as for most cities in the U.S. At the foundation of Real Estate Market Reports is the Zillow Home Value Index. The ZHVI provides the median Zestimate value of all homes in a given geography.

Zillow Local Pages offers real estate data at the state, metro, county, city, ZIP and neighborhood level and is ideal for home sellers, home buyers, owners and real estate professionals. Additionally, you can find demographic data (i.e., about people in Glendale, AZ), and schools data (i.e., schools in Glendale, AZ) and more.

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How to Add Open House Information on Zillow

Mon, 31 Aug 2009 23:20:00 GMT

If you have an open house coming up, you can add that information on Zillow, for free. Just enter your open house information on a listing and enter the end date and it will automatically be removed when the open house is over. Learn more:

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Zillow API

Mon, 31 Aug 2009 22:42:00 GMT

Data Usage

Q: Can we retrieve and store Zillow data?

A: No. You may use the API only to retrieve and display dynamic content from Zillow. You are not permitted to store information locally.

Q: Instead of using the API, can we reverse engineer a data feed or manually pull information from Zillow.com?

A: No. We permit third parties to retrieve data from our site only through the API. Any reverse engineering, spiders, or other techniques used to directly pull data without using the Zillow API is a violation of our Terms of Use.

Q: How do I get maps and Bird's Eye View images?

A: Zillow does not currently provide maps in its API call results. You will need to use your own mapping technology. See Yahoo!, Microsoft, or Google for map APIs you can use.

Terms of Use

Q: What happens when my site hits 1,000 calls in a day?

A: Zillow will block your API calls while we review your site to confirm that it adheres to our Terms of Use. Upon passing this audit, Zillow will increase your call limit and reactivate your ZWSID.

Q: How can we increase the call limit now?

A: Please request a higher call limit by filling out a request form. If you are not signed in, you'll be asked to do that first.

Q: How many API calls can I have on the same page?

A:You can run up to 20 API calls on one page at one time.

Q: Can I use the key for multiple sites or give it to another person?

A: No, but you can increase your call limit by filling out a request form. If you are not signed in, you'll be asked to do that first.

Q: Can I register for multiple ZWSIDs in order to avoid the 1,000 call limit restriction?

A: No. Zillow will be tracking IP addresses in addition to ZWSIDs, so you will not be able to avoid the call limits by requesting additional ZWSIDs. If you need more calls, please request them by filling out a request form. If you are not signed in, you'll be asked to do that first.

Development

Q: Does Zillow provide sample scripts for the coding necessary to pull the API data?

A: At this time, Zillow provides sample API calls, but does not provide the sample scripts for pulling data from the call results. These scripts will depend upon the language you are using and your specific output preferences. Please check the API resources page and the Forum for Member-provided information regarding scripts.

Q: Does Zillow provide a developer kit for other languages (Java, Perl, etc.)?

A: Zillow is working to create additional developer documentation, but currently provides a guide for XML only. Please check the API resources page for additional information.

Q: Can I share my API application with others?

A:You may share any information that you desire with other API Network Members on the Forum. However, you may not share your ZWSID.

Q: If I don't yet have a Web site, can Zillow.com help me put something together?

A: Zillow does not assist in Web site development. Please post a comment to our Forum and you will most likely receive a response from a company that builds real estate Web sites. You can also view the Zillow API approved technology providers here.

Q: Who at Zillow can help me with development?

A: Please post technical questions in the Forum.

Integration

Q: Can we build an API application for a back-end function that has no end-user interface?

A: No. Zillow requires links back to Zillow.com as outlined in our documentation. A back-end function cannot meet this requirement.

Q: Can we build an API application that has no links back to Zillow.com?

A: No. Zillow requires links back to Zillow.com as outlined in our documentation.

Q: What happens if the search can't find the home?

A: The API will either return other home addresses that closely resemble the searched address or will not return any value if no match is found.

Q: What happens if Zillow changes the API?

A: Zillow will aim to meet the needs of the API Network by working to support legacy API calls. It is in our best interest to ensure that your APIs continue to function in the future. At the same time, Zillow reserves the right to change the API code at any time.

Administrative / Legal
Q: I lost my ZWSID. How can I get it again?

A: Go to the API Home Page and click on the "Forgot my ZWSID" link.

Q: I signed up for the Home Valuation API, but not the Property Details API. I've changed my mind and would like both. Do I need to get a new ZWSID?

A: No. You may log in again and request the Property Details API. Your ZWSID will remain the same, but will now permit you to run Home Valuation and Property Details API calls.

Q:Can I sign up for only the Property Details API?

A: No. You may sign up for only the Home Valuation API or both APIs. However, you are not required to use both on your site.

Q:Will Zillow.com sign an NDA (Non-Disclosure Agreement) to discuss a possible partnership, or can I explore other partnership opportunities with Zillow?

A: Zillow does not have the resources necessary to discuss more involved partnerships with API Network Members at this time. While you are welcome to contact us with a proposal, it is unlikely that we will be able to pursue further partnership opportunities.

Q: Will there be more APIs?

A: Zillow plans to continue to provide innovative APIs in the future in order to improve your Web site user experience. Please check our Web site regularly for more information.

Q:Will Zillow be charging me in the future to use the API?

A: No. Zillow has no intention of charging any party for any use of the API.

Marketing

Q: The terms say that I cannot send out a press release without Zillow approval. Can I post to a blog without Zillow approval?

A: Yes. You may post to a blog to publicize your launch.

Q: Can I market or advertise, either on or off of my site, the integration of Zillow tools on my site?

A: Yes. You may market or advertise the Zillow API integration as long as you adhere to our Terms of Use.

1 reply

A QUICK ARM 101

Fri, 28 Aug 2009 04:55:00 GMT

The Consumer Handbook developed by the Federal Reserve Board defines Adjustable-rate mortgages (ARMs) as loans with interest rates that change. According to the Board, an ARM differs from a fixed-rate mortgage in many ways. It points out that with a fixed-rate mortgage, the interest rate stays the same during the life of the loan while with an ARM, the interest rate changes periodically, usually in relation to an index, and payments may go up or down accordingly.
The Handbook reminds us: "Shopping for a mortgage is not as simple as it used to be. To compare two ARMs with each other or to compare an ARM with a fixed-rate mortgage, you need to know about indexes, margins, discounts, caps on rates and payments, negative amortization, payment options, and recasting (recalculating) your loans. You need to consider the maximum amount your monthly payment could increase. Most important, you need to know what might happen to your monthly mortgage payment in relation to your future ability to afford higher payments.

"Lenders generally charge lower initial interest rates for ARMS than for fixed-rate mortgages. At first, this makes the ARM easier on your pocket than a fixed-rate mortgage for the same loan amount. Moreover, your ARM could be less expensive over the a long period of time than a fixed-rate mortgage---for example, if interest rates remain steady or move lower.

"Against these advantages, you have to weigh the risk that an increase in interest rates would lead to higher monthly payments. in the future. It's a trade-off---you get a lower rate with an ARM in exchange for assuming more risk over the long run."
A HANDY TIP from the Board to anyone looking for the right loan or considering to refinance is to ask this question:

Is my income enough--or likely to rise enough--to cover higher mortgage payments if interest rates go up?
Article by Connie I. Ko

1 reply

A QUICK ARM GLOSSARY

Fri, 28 Aug 2009 04:47:00 GMT

Adjustable-rate mortgage (ARM) - A mortgage the does not have a fixed interest rate. The rate changes during the life of the loan based on movements in an index rate, such as the rate for Treasury securities or the Cost of Funds Index.
Annual percentage rate (APR) - A measure of the cost of credit, expressed as a yearly rate. It includes interest as well as points, broker fees, and certain other credit charges that you are required to pay. Because all lenders follow the same rules when calculating the APR, it provides you with a good basis for comparing the cost of loans, including mortgages, over the term of the loan.
Balloon Payment - A lump-sum payment that may be required when a mortgage loan ends. This can happen when the lender allows you to make smaller payments until the very end of the loan. A balloon payment will be a much larger payment compared with the other monthly payments you made.
Buydown - With a buydown, the seller pays an amount to the lender so that the lender can give you a lower rate and lower payments, usually for an initial period in an ARM. The seller may increase the sales price to cover the cost of the buydown. Buydowns can occur in all types of mortgages, not just ARMs.
Cap, Interest rate - A limit on the amount your interest rate can increase. Interest caps come in two versions: periodic adjustment caps, which limit the interest-rate increase from one adjustment period to another ; and lifetime caps, which limit the interest rate increase over the life of the loan. By law, virtually all ARMs must have an overall cap.
Conversion clause - A provision in some ARMs that allows you to change the ARM to a fixed-rate loan at some point during the term. Conversion is usually allowed at the end of the first adjustment period. At the time of the conversion, the new fixed rate is generally set at one of the rates then prevailing for fixed-rate mortgages. The conversion feature may be available at no extra cost.
Discounted initial rate (also known as a start rate or teaser rate) - In an ARM with a discounted initial rate, the lender offers you a lower rate and lower payments for the part of the mortgage term (usually for 1,3, or 5 years). After the discount period, the ARM rate will probably go up depending on the index rate. Discounts can occur in all types of mortgages, not just ARMs.
Equity - THe difference between fair market value of the home and the outstanding balance on your mortgage plus any outstanding home equity loans.
Hybrid ARM - These ARMS are a mix--or a hybrid--of a fixed-rate period and an adjustable-rate period. The interest rate is fixed for the first several years of the loan; after that, the rate could adjust annually. For example, hybrid ARMs can be advertised as 3/1 or 5/1--the first number tells you how long the fixed-interest rate period will be and the second number tells you how often the rate will adjust after the initial period.
Index - The economic indicator used to calculate interest-rate adjustment for adjustable-rate mortgages. No one can be sure when an index rate will go up or down.
Interest - The price paid for borrowing money, usually given in percentages and an annual rate.
Interest-only payment ARM - An I-O payment ARM plan allows you to pay only the interest for a specified number of years. After that, you must repay both the principal and interest over the remaining term of the loan.
Margin - THe number of percentage points the lender adds to the index rate to calculate the ARM interest rate at each adjustment.
Negative amortization - Occurs when the monthly payments do not cover all the interest owed. The interest that is not paid in the monthly payment is added to the loan balance. This means that even after making many payments, you could owe more than you did at the beginning of the loan. Negative amortization can occur when an ARM has a payment cap that results in monthly payments that are not high enough to cover the interest rate or when the minimum payments are set at an amount lower than the amount you owe in interest.
Payment-option ARM - An ARM that allows you to choose among several paymnet options each month. The options typically include (1) a traditional amortizating payment of principal and interest, (2) an interest only payment, or (3) a minimum (or limited) payment that may be less than the amount of interest due that month. If you choose the minimum-payment option, the amount of any interest you do not pay will be added to the principal of your loan.
Points (may be called discount points) - One point is equal to 1 percent of the principal amount of your mortgage. For example, if the mortgage is for $200,000, one point equals $2000. Lenders frequently charge points in both fixed-rate and adjustable-rate mortgages in order to cover loan origination costs or to provide additional compensation to the lender or broker. These points usually are collected at closing and may be paid by the borrower or the home seller, or may be split between them. Discount points (sometimes called discount fees) are points that you voluntarily choose to pay in return for a lower interest rate.
Prepayment penalty - Extra fees that may be due if you pay off the loan early by refinancing your loan or selling your home, usually limited to the first 3 to 5 years of the loan's term. If your loan includes a prepayment penalty, be aware of the penalty you would have to pay. Compare the length of the prepayment penalty period with the first adjustment period of the ARM to see if refinancing is cost-effective before the loan first adjusts. Some loans may have prepayment penalties even if you make only a partial prepayment.
Principal - The amount of money borrowed or the amount still owed on a loan.

Article by Connie I. Ko

1 reply

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