Raise your hand if you like Zillow's price estimate feature. Anyone? Anyone? Yes, that's what we thought. :-)
So, what we've done is created our own algorithm that values properties in Gainesville, FL. This way, consumers not ready to contact a Realtor have access to information that might be a bit more accurate than what they find on the national aggregator sites.
The first thing we're doing with our algorithm is using it to identify properties that look like "deals" to the naked eye. We just rolled out our investment properties page, which has all the local listings that have list prices at least 15% below what our algorithm thinks is market value.
As of today, our algorithm found just over 50 "deals," which represents about 5% of the market in the areas we surveyed. We will continue to tweak this, but we figured we'd share our latest toy. :-)