Zillow Launches Zestimate Forecast Predicting Future Value of Homes - WOWK 13 Charleston, Huntington WV News, Weather, Sports

Zillow Launches Zestimate Forecast Predicting Future Value of Homes

  • Local NewsLocal NewsMore>>

  • UPDATE: All Northbound lanes open on I-77 at East River Mountain Tunnel

    UPDATE: All Northbound lanes open on I-77 at East River Mountain Tunnel

    Saturday, July 26 2014 6:42 PM EDT2014-07-26 22:42:00 GMT
    All northbound lanes are back open after a tractor trailer that caught fire inside the East River Mountain Tunnel on Friday. It happened in the northbound lanes of the tunnel that divides Mercer and Bland around 2:00 Friday afternoon.
    All northbound lanes are back open after a tractor trailer that caught fire inside the East River Mountain Tunnel on Friday. It happened in the northbound lanes of the tunnel that divides Mercer and Bland around 2:00 Friday afternoon.
  • Sistersville Woman Crowned Mrs. West Virginia, Will Compete for National Title

    Sistersville Woman Crowned Mrs. West Virginia, Will Compete for National Title

    Tuesday, July 15 2014 4:17 AM EDT2014-07-15 08:17:38 GMT
    A Sistersville mother, wife, and soon-to-be teacher, holds another very impressive title as she gets ready to take on the competition on a national stage.Mrs. West Virginia, Melissa Smith, will compete for the title of "Mrs.United States," in September. Smith travels throughout the state right now helping to push her platform. "Right now, I'm very focused on improving literacy education. I'm going to be an elementary school teacher and I have been traveling throughout West Virginia reading to...
    A Sistersville mother, wife, and soon-to-be teacher, holds another very impressive title as she gets ready to take on the competition on a national stage.Mrs. West Virginia, Melissa Smith, will compete for the title of "Mrs.United States," in September. Smith travels throughout the state right now helping to push her platform. "Right now, I'm very focused on improving literacy education. I'm going to be an elementary school teacher and I have been traveling throughout West Virginia reading to...
  • Federal judge in Martinsburg, West Virginia, sends 10 to prison for violating probation

    Federal judge in Martinsburg, West Virginia, sends 10 to prison for violating probation

    Sunday, July 6 2014 11:00 AM EDT2014-07-06 15:00:12 GMT
    Nine Martinsburg, West Virginia, residents and another from Keyser were sentenced to federal prison for breaking the law while they were on supervised release or probation.
    Nine Martinsburg, West Virginia, residents and another from Keyser were sentenced to federal prison for breaking the law while they were on supervised release or probation.

Information contained on this page is provided by an independent third-party content provider. WorldNow and this Station make no warranties or representations in connection therewith. If you have any questions or comments about this page please contact pressreleases@worldnow.com.

SOURCE Zillow, Inc.

More than 50 million U.S. homes now show a 12-month forecast of Zestimate value

SEATTLE, May 8, 2014 /PRNewswire/ -- Zillow® (NASDAQ: Z), the leading real estate and home-related marketplace, today announced it has introduced the Zestimate® forecast, the first consumer-focused predictive tool to estimate the future value of individual homes.

The Zestimate forecast predicts the estimated change in a home's value over the next 12 months in both dollars and percentages. For example, if a home at 123 Main St. has a current Zestimate of $200,000, the Zestimate forecast for that home in one year might be $210,000, which means Zillow is predicting that home's value will increase by 5 percent. This new feature helps consumers and real estate professionals better understand how local housing trends can affect the future value of specific properties. The forecast also adds another layer of information to Zillow's living database of all homes, which includes rich data, Zestimates and Rent Zestimates on more than 100 million homes nationwide.

"When Zillow first launched its Zestimate home valuation in 2006, we introduced an important layer of transparency to the real estate market to empower consumers to make better decisions. Today, Zillow lets you see historical Zestimates over the past 10 years, and now the new Zestimate forecast provides a unique glimpse into the future never before possible at the home level, "said Zillow Chief Economist Dr. Stan Humphries, who created the proprietary Zestimate algorithm.  "There are many very important reasons to choose to buy or sell a home, and this new tool helps shed light on one of those considerations."

To calculate the Zestimate forecast, Zillow uses information on the individual characteristics of each home, including the number of bedrooms, bathrooms and square footage. More than 47 million U.S. homes have had their homes facts updated by homeowners or real estate professionals, making Zillow's national database of home facts significantly more accurate than most public records.  This individual home information is then combined with a variety of local economic and housing data that might impact future home values in a region. Data includes the supply of homes for sale, percentage of delinquent loans, population growth, income growth and local unemployment rates. Zestimate forecasts are updated monthly to reflect changing local economic conditions and homes that are updated and improved upon. Homeowners are encouraged to claim their homes on Zillow and keep all home facts up to date in order to ensure the most accurate forecast possible.

Zillow first introduced forecasting in 2011, enabling consumers to see where home values are headed over the next 12 months at the metro, county, city and neighborhood level. Home-level Zestimate forecasts are now available for more than 50 million U.S. homes, with plans to eventually expand coverage to all homes for which Zillow has real estate data and Zestimates.

About Zillow, Inc.

Zillow, Inc. (NASDAQ:Z) operates the leading real estate and home-related information marketplaces on mobile and the Web, with a complementary portfolio of brands and products that help people find vital information about homes, and connect with the best local professionals. Zillow's brands serve the full lifecycle of owning and living in a home: buying, selling, renting, financing, remodeling and more. In addition, Zillow offers a suite of tools and services to help local real estate, mortgage, rental and home improvement professionals manage and market their businesses. Welcoming nearly 79 million unique users in April 2014, the Zillow, Inc. portfolio includes Zillow.com®, Zillow Mobile, Zillow Mortgage Marketplace, Zillow Rentals, Zillow Digs®, Postlets®, Diverse Solutions®, Agentfolio®, Mortech®, HotPads™ and StreetEasy®. The company is headquartered in Seattle.

Zillow.com, Zillow, Zestimate, Postlets, Mortech, Diverse Solutions, StreetEasy, Agentfolio and Digs are registered trademarks of Zillow, Inc. HotPads is a trademark of Zillow, Inc.

©2012 PR Newswire. All Rights Reserved.