Zillow Now in the Business of Predicting Future Home Values
Zillow can now see the future of your home -- or at least, it's trying to with its new proprietary algorithm, which it says can predict the dollar value of your home one year in the future.
Its new software is going by the name of "Zestimate forecast," and the company says that the estimator, which will predict either growth or loss, is available for about half of the homes in their database, which consists of about 100 million properties.
"It was important for us to give [consumers] another bit of information that might help them in understanding the real estate market and help them make the buy-or-sell decision," said Svenji Gudell, Zillow's director of economic development. In order to come up with the "Zestimate," Zillow's formula considers various factors, including the number o...