Zillow does not receive up to date information from the Multiple Listing Services around the country DIRECTLY. They depend on an individual agent manually posting their new listings, or the office they are working in to do the same, usually through an independent third party feeding it with a very noticeable time delay.Most internet savvy agents WANT to use every means possible to promote their listings to get the most exposure for their sellers so they may post - but may forget to remove when sold. And most buyers want to jump on the newest listed homes, because they are also internet savvy and have narrowed their search to certain towns, neighborhoods, or price ranges, and want to get their offer in right away! So they may find it frustrating to find current active listings on Zillow.Zillow has built a data base from the publicly recorded ACTUAL sale prices that have been filed in the counties all over the US. That is very unique. Many sellers and buyers considering a home sale find it very easy to view this past history which is accurate.
Pre foreclosure simply means the owner has fallen behind, and is in default on the loan. There could be many options, including getting back on track and out of foreclosure. Not all loans in default move to being foreclosed.They may be able to modify the loan, or even if the owner decides to sell, it may be a short-sale and be listed with a local agent. If you are looking for a particular area, or neighborhood, I would suggest finding a local real estate agent to help you. As a buyer it costs you nothing to have a professional submit the offer and a good agent should be able to do some searches on the history of a particular property. I actually enjoy the digging for information and consider it a major part of the service I offer to buyers in New Jersey where I work. If an agent can't do this, I think you should find another agent.
That is good news! It is imperative that these listings are up to date.Can you please tell us what/who would be the third party providing the foreclosure and default information? Public records or some kind of info feed? RSS?What is the average time before you get this information? Immediately or when a site sends out an update, say monthy?Thanks