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Zillow CFO and COO Spencer Rascoff appeared on CNBC today with Diana Olick to discuss Zillow’s Q1 Real Estate Market Reports that just came out. Spencer discusses some interesting findings, such as “shadow inventory” around the 3:30 mark and what he thinks is an L-shaped recovery around 4:21 of this 6:25-long video. Click the video to watch:

Broker Lenn Harley of Rockville, MD, praised Spencer for “understanding the insidious nature of negative equity.” Care to hear more from Spencer? Follow Spencer Rascoff on Twitter.

  • gran hicks

    zillow driving the market down,real market appraisal should average average sales over last 12/15 months instead of using foreclosures to set market pricing, bad ethical practices. The banks love this crap, lets them off the hook from financing legitimate owners from refinancing,one look at zillow and destroys any chance of refinance no matter how low the interest rates are, must be sharing the commission!!

  • http://www.zillow.com Spencer Rascoff

    Huh?

  • http://zillow August

    I totally agree with Gran Hicks. Zillow value your house and they’ve never seen it. They’ve got my house at a ridiculously low price and I have more than $30,000 in upgrades – YES I KNOW I WILL NEVER GET A FULL RETURN ON MY MONEY. Realtors! Anything for a 6% commission. The more they have you feeling that your house is worthless – the easier it is for them to give it away.

    As far as I’m concerned these “bottom-feeders” can buy these disgusting foreclosures and spend their butts off fixing them.

    The banks do love this. Thankfully I can wait to sell my house – I’m NOT upside down like the rest of third world Florida.

  • http://www.zillow.com Spencer Rascoff

    I’m sorry, I still don’t see how Zillow drives home prices down. If we have incorrect property attributes on a home, you can claim and edit your home facts (video here: http://www.youtube.com/watch?v=lZYPM-h804E ) and that will affect the Zestimate. You can also add in your improvements through the “My Estimate” tool and create and publish your own estimate.

  • Pingback: FBS Blog » Blog Archive » Check out the MLS track at Inman Connect in San Francisco

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