Smart Money: The Fuzzy Math of Home Values November 16,2011

Submitted by lusk-admin on Tue, 07/10/2012 - 16:56

...After years of real estate pros holding all the informational cards in the home sale game, Web driven companies like Zillow, Homes.com and Realtor.com are offering to reshuffle the deck. They've rolled out at your fingertips technology via laptop and smartphone to give shoppers and owners an estimate of what almost any home is worth. And people have flocked to the data in startling numbers: Together, four of the biggest websites that offer home value estimates get 100 million visits a month, and one, Homes.com, saw traffic jump 25 percent in the three months after it launched a value estimator in May...

"It's an evolution for consumers," says Gary Painter, director of research at the Lusk Center for Real Estate at the University of Southern California.

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