Zillow sheds some light on shadow inventory
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Will you use Zillow’s new shadow inventory list to help your buyer clients?
- Yes. (56%, 9 Votes)
- No. (44%, 7 Votes)
Total Voters: 16
Information on foreclosed homes not yet listed on the multiple listing service (MLS) is now available for free to the public. Of the 1.2 million homes now listed by Zillow nationwide:
- about 1 million are in pre-foreclosure or listed for auction; and
- 260,000 are real estate owned (REO).
Zillow offers an estimate for each home’s sales price based on its fair market value (FMV) and the area’s average foreclosure discount. The service also lists the unpaid balance and the foreclosure timeline for each home. This information is usually only made available by large aggregators for a fee.
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About The Author
Carrie B. Reyes
is lead writer in charge of the Real Estate Practice and Due Diligence and Disclosures books.
