Zillow
By Esther Cho | 03/22/2012
Real estate blogger Jay Thompson is joining Zillow as the director of industry outreach and social media. Thompson brings nearly seven years of social media experience to Zillow. In addition to his duties as a blogger, he also offers his expertise in real estate and social media conferences as a speaker, and is licensed to teach continuing education classes on social media marketing. Thompson will join Zillow's partner outreach team.
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By Esther Cho | 03/21/2012
Home prices are projected to fall 0.7 percent this year, a more negative expectation than the 0.2 percent decline economists previously anticipated, according to the March 2012 Zillow Home Price Expectations Survey. Economists in the survey did express an expectation for home prices to go up in 2013, but by 1.4 percent, which is a decrease compared to the previous prediction in December that prices would rise by 1.8 percent. For the year 2016, respondents predicted prices would rise by 3.32 percent.
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By Esther Cho | 03/13/2012
While homes prices continue to be on the decline, rent prices are actually on the rise and showed a 3 percent increase from January 2011 to January 2012, as opposed to home values, which dropped 4.6 percent during that same period, according to the January Zillow Real Estate Market Reports. Zillow data also showed year-over-year gains for 69.2 percent of metropolitan areas covered by the index while only 7.3 percent of metros saw increases in home values. Based on the Zillow Rent Index, the states with the greatest increases in median rent over a year were New Jersey (+16.5), New York (+13.7), Kansas (+10.2), Indiana (+10), and Michigan (+10.0).
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By Esther Cho | 02/17/2012
Zillow, Inc. announced the hiring of a new VP of partner relations. Robert D. Bemis was appointed for the position and has 25 years of experience in the real estate industry. Bemis will be responsible for creating new partner relationships with real estate brokers, agents and multiple listings services(MLSs). In 2011, Bemis was named one of the 100 Most Influential Real Estate Leaders by Inman News.
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By Esther Cho | 02/10/2012
Zillow forecasts home values will be on the decline through December 2012, but the decrease will be smaller than in 2011. Home values in the U.S. fell in the fourth quarter, with the Zillow Home Value Index sinking 1.1 percent after a less significant decline for the two previous quarters. Zillow's report also shows that the rate of homes foreclosed on increased slightly to 8.2 out of every 10,000 in December, compared to 8 out of every 10,000 homes in November.
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By Carrie Bay | 12/23/2011
Home prices are expected to post a decline of 1.57 percent for the fourth quarter of 2011, after falling 0.4 percent through September, according to more than 100 economists and housing experts surveyed by Zillow. Prices are forecast to decline until the market's bottom is reached in late 2012 or early 2013. After 2013, panelists expect a steady annual appreciation rate of roughly 3 percent through 2016, which is slightly below appreciation rates experienced during the pre-bubble years.
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By Krista Franks | 12/22/2011
As 2011 comes to a close, Zillow anticipates home value declines for the year will total more than $681 billion. The rate of depreciation, however, is slowing, the company says. This year's decline is 35 percent less than last year's $1.1 trillion drop in value. Additionally, much of this year's decline occurred during the first half of the year. In terms of dollar value, the sharpest decline in 2011 was seen in the Los Angeles metropolitan area, followed by New York and Chicago.
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By Krista Franks | 12/13/2011
While home values are continuing to decline, they are beginning to stabilize as the market nears the bottom, according to the Zillow Real Estate Market Report released Tuesday. On a yearly basis, the average home price fell 5.1 percent in October, arriving at $147,000. However, on a monthly basis, the drop was just 0.3 percent, demonstrating a deceleration from recent declines. In addition to stabilizing prices, Zillow reported another positive sign for the market, with the foreclosure liquidation rate slipping to 8.1 out of every 10,000 homes.
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By Carrie Bay | 11/08/2011
After declining between the first and second quarters of this year, Zillow says negative equity rose again in the third, reclaiming all of the previous quarter's decline and then some. Zillow's latest market analysis indicates 28.6 percent of American homeowners with a mortgage owed more on the loan than their home was worth as of the end of September. The company says a lower rate of foreclosure liquidations and relatively flat home values combined to increase negative equity over the three-month period.
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By Carrie Bay | 11/07/2011
Zillow, Inc. has announced its acquisition of Diverse Solutions for $7.8 million in cash and stock. Diverse Solutions, headquartered in Irvine, California, helps real estate agents market their businesses and improve their personal websites. The company's software services include providing listings content and property search functionality for the Web and mobile platforms.
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