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ANOTHER EXAMPLE OF BLATANT MISINFORMATION: Shame on You Zillow.com

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Mortgage and Lending with Los Angeles & Ventura Counties in CA

I subscribe to the daily webcasts of Think Big, Work Small (TBWS), which is hosted by these two guys, Brian Stevens & Frank Garay.  TBWS was founded a couple of years ago by a bunch of real estate and mortgage people who wanted to teach others in the business how to work smarter to grow their business.

Today's video was especially interesting because there was a segment on a survey that Zillow.com did where they chose to manipulate the numbers to report that the an extension to the tax credit would be a failure.  There is also another segment on how consumers can establish good credit with less than traditional credit.  

Anyway, here is today's video and I hope you enjoy it as much as I did.  I want to also suggest checking out some of their more recent ones too as well as their blog threads.  Very interesting discussions going on. 

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~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

 Donne Knudsen

Realtor® - CalState Realty Services

DRE#: 01364050 / NMLS#: 249822 

 

805.2069123

 

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Serving low-medium income individuals and families as well as first time buyers with both their real estate as well as their mortgage needs including down payment assistance

Los Angeles County  --  Ventura County

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Comments (14)
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John Rakoci
Eagle Realty - North Myrtle Beach, SC
North Myrtle Beach Coastal Carolinas

Zillow has an agenda! They have never been anything but self-serving. Their price info is often way off the mark. I'm not a fan of extending the tax credit unless obama wants to put one on boats.. why pay for everyones cars and homes for decades without some help on a boat-- or maybe an airplane? Or maybe a vacation to Kenya?

Sep 29, 2009 03:38 AM
Robert Rauf
CMG Home Loans - Toms River, NJ

Untraditional credit went out the window when lenders put in minimum scores!

Sep 29, 2009 03:46 AM
Donne Knudsen
Los Angeles & Ventura Counties in CA - Simi Valley, CA
CalState Realty Services

John - The way that Zillow manipulated the info on their own survey clearly outlines their objective. 

Rob - While I agree that none of my lenders are taking any alternative credit anymore, I am going to contact the organization in the video to find out what their game plan and strategy is and how they can advertise that they can create credit scores with alternative credit.  I'll keep you posted.

Sep 29, 2009 02:46 PM
Robert Rauf
CMG Home Loans - Toms River, NJ

The problem is that FHA says you can use alternative credit and has no minimum score. But every lender I know of has their own overlays to guidelines that are much harsher!

Sep 30, 2009 02:21 AM
Donne Knudsen
Los Angeles & Ventura Counties in CA - Simi Valley, CA
CalState Realty Services

Rob - EXACTLY!  Which is why I want to talk to this consumer credit group and find out why it is that they think they can help the consumer, especially since there are no lenders willing to accept alternative credit.

My feeling is (and I truly hope that I'm wrong) that this group could be misleading the consumer into thinking that by paying this company to credit a credit score for them that they (the consumer) will be able to get a loan.  As you and I both know that will not be the case.  Who knows, maybe they have a plan, I don't know yet but I am going to look into it.

Sep 30, 2009 03:29 AM
Betina Foreman
WJK Realty - Austin, TX
Realtor, C.N.E., with WJK REALTY

I agree that Zillows numbers are misleading. if you want the real accurate facts you need a Realtor, plain and simple. Have you noticed there is no phone number on Zillows site. They also pressure Realtors that use their site to disclose sold prices? That is a big no no in Texas as we are a non-disclose state. They need to do more research to be of benefit to anyone.

Sep 30, 2009 04:19 AM
Jon Wnoroski
America's 1st Choice RH Realty Co., Inc. - Green, OH
Summit County Realtor

Hi Donna - Zillow's data is not accurate at all in my area.  It only takes reading through their data information posted on their website to understand that.  The downside may be that the general public is looking at their listings and put some belief in their data.

Sep 30, 2009 04:31 AM
Donne Knudsen
Los Angeles & Ventura Counties in CA - Simi Valley, CA
CalState Realty Services

Betina - Amen!  This video is a clearly shows how Zillow manipulated the survey numbers to push their agenda - whatever it is.

Jon - Zillow's numbers are never accurate in any market and you're right about the general public thinking that they are some kind of authority when they are not and this is just another case of them trying to make themselves appear as an authority when they are not.  This example was so blatantly transparent that I truly hope the general public is not stupid enough to 'do the math" themselves.

Thx for stopping by folks; I really appreciate it.

Sep 30, 2009 04:36 AM
Kate Bourland
Marketing with Kate - Redding, CA
Onlilne Marketing Mobile Marketing

Donne, I haven't read your blog for a while, glad that I stopped by.  These are definitely links that I will check out. 

Sep 30, 2009 07:53 PM
Donna Yates
BHGRE - Metro Brokers - Blue Ridge, GA
Blue Ridge Mountains

Donne:   Going back to watch the video and I appreciate the tip about the webcasts.  I really want to check into those too.  Seems like no matter what goes on out there, it always comes back to this: you cannot beat a knowledgeable and trusted Realtor.  Not Zillow, not Trulia, not anyone in the media is going to know the marketplace like a local Realtor in their respective market .

Great video, just went back to watch it and become a subscriber. Thank you.

Oct 01, 2009 02:46 AM
Donne Knudsen
Los Angeles & Ventura Counties in CA - Simi Valley, CA
CalState Realty Services

Kate - Hey you!  I haven't seen you around lately either.  You must be really busy.  Good for you.  :)

Donna - You're welcome.  I started watching these guys a few months ago.  They're a little whacked some day but most of the time they offer some good news bits.

Thx for stopping by ladies; I really appreciate it.  Have a good day.  :)

Oct 01, 2009 03:16 AM
Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

Maybe they can explain something called "overlays".  No, they wouldn't have enough stupid followers then.  I seriously will refer out clients who blindly worship the zillow gods.

Oct 05, 2009 05:26 AM
Shirley Parks
Sands Realty 210-414-0966 - San Antonio, TX
Broker, 210-414-0966, San Antonio TX Real Estate

Hi Donne, Unfortunately, there is a lot of information out there! :o(

Oct 05, 2009 04:39 PM
Donne Knudsen
Los Angeles & Ventura Counties in CA - Simi Valley, CA
CalState Realty Services

Renee - Oh Lordy, don't even get me started on overlays.  Suffice to say that tail has been wagging the dog for far too long.

Shirley - There most certainly is and it's important that we publicly refute it too because so many consumers will believe this crap if they don't know it's not true.

Thx for stopping by ladies; I really appreciate it.

Oct 06, 2009 02:55 AM
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