Killa App.

As you already know, my blog is heavily focused on the real estate side of the economy, specifically, the housing market. People have asked me why I have unique forecasts and opinions that are different than other experts.(By the way, I take that as a compliment.) First of all, I admit that I do not have a Ph.D (it doesn't mean that you should not trust what I say) so the way I do my research is different, using more of the media and interviews with people who are working in the field. Also, I am not using the theories economists use when they forecast, but I use the freshest data I can find. Now that I have revealed all my research secrets, let me introduce a Web 2.0 tool that I use for my research. Warning: you will be surprised that I use this tool for my research (hint: you probably have used it).

Zillow is a tool that stole my heart the first time I used it. It is a real estate tool (as specified by seomoz.org which awarded Zillow the number one Web 2.0 real estate site award ) where people can check the value of their homes, list homes for sale, and much more. Out of curiosity, I found out the background of this tool. Zillow was founded by Rich Barton, who also founded Expedia.com, and Lloyd Frink in 2005. When Rich and Lloyd were looking for a new business venture, they came up with the idea of real estate. (Obviously, the real estate market was hot back then and many were looking to profit from it.) Barton says he loves real estate and he wanted to create a tool where people can get information about their homes and obtain valuable resources.

At Zillow, you can find out about how much your home is worth by typing in your home address or another home you want to know about. Then, you will get a detailed analysis of the home's worth along with other information such as the sales history of the home. From that analyzed report, I particularly like the market value change chart that shows price trends for your home, state, and even the nation. This data is now being used by the media to see the conditions of the housing market. For example, CNN recently reported the decline of home values using Zillow's value calculations. Also, sign up for an account and you will be able to claim your home and make corrections to the data, if you would like. The great aspect of Zillow is that you can ask questions to homeowners, for example, whether they like neighbors. Additionally, if you are looking for a home, this is a great place to start your research. It has homes for sale (yes, they have foreclosure data) and you can get information about the neighborhood, mortgage rates, and so on.

That is not all, because there are more tools and information at Zillow.Do you need to sell your home? Zillow can help you. They have a tool called Make Me Move: you set a price for your home and if someone is interested, you can sell it without the fat commission! In addition, Zillow has a database of recently sold homes that was once available only to real estate professionals. The list goes on and on and you should check it out yourself.

Zillow is popular among homeowners and sellers. Since the market downturn has started, worried homeowners are checking their home prices regularly, and sellers check out how much they can get for their homes. Actually, they are not the only groups who use Zillow. People like me who do research on the housing market use this site not only because it provides home sales data, but also because I and others can read people's behaviors such as how people react to falling prices or particular market. Last but not least, buyers jump into it to chat with local real estate professionals, check data on homes they are trying to buy, and shop for a mortgage.

Since Zillow has been very successful at attracting users, other websites that are similar to Zillow are appearing online. A strong competitor is realestateabc.com, but people who have been using Zillow will immediately notice that it has a long way to go since its graphics look like a Web 1.0 site. Another competitor is Cyberhomes. I understand that it has very cool graphics and a variety of data;however,I checked the accuracy of the valuation tool and their numbers are way off than the actual numbers. For example, I entered a few home data into its valuation tool, and the estimates were off more than 15% of those homes' actual values. That is why Zillow is still the number one home valuation site.

Now that you have heard what I have to say about Zillow, go ahead and check it out. I promise you will not be disappointed.

Let me tell you this: people have the misconception that Zillow is a widget for home buyers and sellers. That is not true, and Zillow is for anyone who is interested in real estate. For example, a person like me who researches the real estate market, I use Zillow to find out about home prices and sales activity trends. Not only that, I use it to forecast the market by examining the charts and the market reports. Basically, Zillow makes my research much easier by combining lots of information in one place.

That said, let me show you how to use Zillow as a real estate researcher. (No, you don't need a Ph.D to do the research.) First of all, let's pick a house that we want to do research on. Remember, even though we pick only one house, not thousands of houses, that particular house does have enough information about the market trends. So, let's go and type in the address, and as usual, click go. Wow, isn't this amazing? We are now seeing a group of houses from the sky. We can pick another house from this map, but let's stick to our first pick by clicking the address.

Look at the information Zillow has for this particular house. Basically, it has everything we want to know about this house. Then, let's click Zestimate & Charts. Do you see the Zestimate? That's the amount this house is worth. Not only that, Zestimate shows the price change in the past 30 days in addition to the value range this house may be valued at. Now that we look at the value of this house, let's get into the highlights of Zillow. Look at the diversity of this chart. Because it has price trends not only for this house, but for the city, county, state, and even for the nation, it's so easy to compare the price trends for the entire U.S. market here.

Don't forget: Zillow also has historical value trends. It shows the historical value trends of this home and other homes in the nation by showing the price changes in the past 30 days to 10 years. If you don't like the percentage change option, then switch to dollar comparison. This is absolutely my favorite tool. I mean, I don't have to look through a several websites to find the value trends, but just one place, Zillow. Now, based on the information we gather from Zillow, can you tell me where the market is heading? Exactly. You can tell the market is still going down. Congratulations for being a real estate researcher!

People like me who have experience in real estate would realize that even last year, Zestimate values were not accurate. I mean sometimes, it was off by a big number. Is that why users wrote all those negative comments on the discussion board? Now, check it out again. You will realize that the data is much more accurate now. How did Zillow do it? What it probably did was change the way it calculated the values, adding less value for additional square footage.

Before the era of Zillow, it was almost impossible to get nationwide data of homes and their values. Because of Zillow, now it is possible to search the price trends for a small town in Texas or anywhere in the U.S. So, say "thank you" to Zillow. If you have read about home price trends in the newspaper, you would realize that the zip code is the lowest unit newspapers or other sources break down the trends. How about the trends for your own home or your neighbor's? Zillow knows users' wish and it is now fulfilling our wish by breaking down the trends from the nation to even individual homes.

I know there are other home value comparison tools online. But use Zillow. Because it has the most up-to-date home sales data, those data provide accurate charts and value trends for research. If you don't trust me, try using other tools. You will realize that their sales data are not updated for at least 6 months. So, use Zillow which updates its data every week.

I am scared of those data compiled by economists who use all kinds of math formulas, and I don't understand what those data mean. Lucky you, because Zillow is designed for the general public. You don't really have to learn anything to use it. If you are not comfortable with it, simply take a tour. Then, just grab your glasses and look at the charts. Let me be honest: you need to learn the options on chart selection in order for you to get the right chart you want. That is why users should encourage Zillow to explain certain terms like annualized percertage. Other than that, it is a very user-friendly widget.

By now, you have probably noticed that I am not using Zillow as it was originally designed. Yes, Zillow is primarily intended for home buyers and sellers, and those charts that I use are for buyers and sellers to check their home values or homes they want to buy. Who cares? I am using it to measure the conditions of the housing market. And even CNN understands that the data on Zillow is valuable, and it is using those data to report the housing price trends.

I think Zillow will develop more widgets that are more interactive and personalized. For example, Zillow will probably create a widget that helps people where they can afford to buy homes based on the information they provide. Yes, Zillow has unlimited possibilities!

Zillow is a Web 2.0 real estate tool where home sellers and buyers can check home values and price trends from the street level to the national level. Also, economists and people who are interested in the housing market use it to measure the market conditions. Zillow was started in 2005 by Rich Barton and Lloyd Frink, and it has been growing ever since, reaching 8.8 million visitors each month. Zillow has many tools and information including a home selling tool called Make Me Move and information about neighborhoods.

Zillow's detailed property information is very useful since it offers the value of the home in a "Zestimate," and it has price trend charts that can show the price change in the past 30 days to 10 years. Also, the charts have the option of comparing homes' value trends with the city, state, and national home value trends. If charts are not enough, Zillow has real estate market reports and a historical value trends tool that can aid in the research or home buying process.

Take advantage of Zillow; it can even help with the property tax reduction application. All you have to do is click on other homes in your neighborhood and find out if there are any sales. If you see the sales prices, use two of sales prices to the application. Additionally, Zillow is the place to start the home buying search. Look through the neighborhood map you are interested in and click as many homes you would like. Check to see if most residents are long-term residents. Having long-term residents not only creates great relationships between neighbors, but these neighborhoods' home prices are stable.

Zillow is waiting for you. Use Zillow and simplify your life. You will thank Zillow for letting you enjoy the good life!!!