Zillow
Founded in 2005, Zillow is the most visited real estate website in the United States. It provides an online real estate marketplace for finding and sharing information about homes, real estate, and mortgages. Together with its affiliates and subsidiaries, it provides users with an on-demand experience for selling, buying, renting or financing a home.
Zillow’s most widely known tool, the Zestimate, was born out of the release of Google Maps’ satellite view that provides a detailed view of neighborhoods throughout the country. The idea was to attach a price to each house in that type of satellite view – and has since grown, for better or worse, into a very popular mechanism used by consumers to value homes.
In 2019, with the return of Rich Barton as CEO, Zillow entered the mortgage space after purchasing Mortgage Lenders of America, launching its own lending operation called Zillow Home Loans. According to Zillow, the strategic move streamlined and shortened the homebuying process for consumers who purchased homes through Zillow Offers
Zillow recently made news with its exit from the iBuying market, opting to cease operations on its Zillow Offers program – which involved the company in buying homes, making minor renovations and then quickly re-selling the homes for a profit. Zillow Offers had been responsible most of the company’s revenue and, after being eliminated, led to the loss of nearly 2,000 jobs and losses of more than $500 million on the value of the remaining homes on its books. This is a major contrast to original forecasts for the Zillow Offers program, which executives initially predicted would generate $20 billion in revenue annually.
Latest Posts
Home price appreciation to slow in 2014
Nov 08, 2013More than 100 forecasters said they expect the U.S. home value to end 2013 up an average of 6.7% year-over-year, before finally slowing down over the next five years, Zillow said.
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Housing stocks post mixed results on HW 30
Oct 18, 2013 -
Housing market simmers down
Oct 18, 2013 -
Mortgage insurers and real estate firms soar on the HW 30
Oct 16, 2013 -
Analyst forecasts a 20% drop in home prices
Oct 08, 2013 -
Housing stocks survive rocky day on Wall Street
Oct 02, 2013 -
Zillow stock is uniquely positioned
Oct 01, 2013 -
HW 30 ends Wednesday trading with mixed results
Sep 25, 2013 -
Real estate stocks thrive on positive earnings reports
Sep 24, 2013 -
Housing begins to see signs of normalcy, but will it last?
Sep 24, 2013 -
Zillow’s shares tumble after short-seller attacks the firm
Sep 20, 2013