Using Zillow for Your Real Estate Decisions
Zillow is much more than just a resource for buying, listing and viewing properties. The company has taken things a step further and incorporated some very valuable research and information for anyone interested in the US real estate market.
What is Zillow?
In a broad sense, Zillow can be defined as a real estate market database for the US. Beyond the typical property marketplace, Zillow has its own research section on the website that provides a general overview of various local markets, as well as trends in the real estate industry. It’s an invaluable source of information for anyone with an interest in the real estate market.
What information can you find on Zillow?
Of course, you can find a variety of property listings in every neighborhood across America. However, Zillow provides certain data and statistics with each listing which really sets it apart from others. For individual properties listed on Zillow, you can find useful stats, such as:
Housing price value and rent estimates
Neighborhood home price growth predictions
Comparison of individual property to entire neighborhood
Property tax history
Comparable properties (both for sale and recently sold)
An interactive chart to show changes in the above factors over a period of time
Zillow provides benefits for anyone looking to purchase or sell a property. Regardless of whether you use it to look for a home or an investment property it truly is a great resource for your real estate decisions. And it is free of charge.
How can Zillow help you in your real estate business?
Given the detail provided with each property listing, Zillow’s estimates could help you forecast a variety of trends. Specifically, you can find:
Promising neighborhoods. Zillow allows you to more easily find neighborhoods that offer the potential for growth in terms of property appreciation and increases in rental rates. Whether you are buying for yourself or as an investment property, you’ll want to find those neighborhoods that will be appreciating.
Promising properties. It will be much easier for you to identify properties that provide an opportunity for return. For example, you can see whether it is over or undervalued compared to general housing prices in the surrounding area. This way, you can quickly narrow down your potential list of properties.
Reasonable benchmarks. You can use the prices of currently listed properties, as well as the stats that Zillow provides to arrive at reasonable benchmarks for comparison purposes. This way, you can use these benchmarks for determining fair prices and ultimately, determining where the best deal is.
Future property value. Thanks to Zillow, you can easily predict what a specific property may be able to sell for in the future. That way, you can focus on the properties that will likely generate a greater return in the future. There’s no sense in buying a property if it’s just going to devalue over time, right? We’re talking about buying real estate here after all, not cars!
It’s never been easier to access such timely and detailed information about real estate markets all across America. Not to mention that this only skims the surface of what Zillow has to offer. So far we’ve focused on the data provided in each property listing, but there’s still more. Zillow has an entire research section where you can find in-depth reports and insightful articles on all things real estate. Take advantage of this valuable resource for all types of investment properties, whether you are wholesaling, flipping or renting.
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