Tech Report: Zillow Launches Android App That Values Real Estate

SAN FRANCISCO (KCBS) — Real estate website Zillow, has launched a new app for Android that helps people figure out the value of homes and is now aiming to help renters as well.

The website, well known among homeowners or people thinking about buying, allows users to enter an address to find out what it thinks the property is worth, called a “zestimate.” Users can also subscribe to find out if a property is going up or down in value.

With the mobile app, users can now be out and about and see an apartment or go house hunting without all the printouts.

KCBS Tech Report:

What’s also interesting is one can get a “zestimate” for a property if a user were to rent it. But that number has to be taken with a bit of a grain of salt.

The company’s CEO said in an interview a few days ago that for home prices it’s plus or minus eight percent, and for rentals it’s seven percent.

Zillow provides either the landlord’s info or the Realtor’s if it’s a house for sale. And for any house, it provides the number of bedrooms, when it was last purchased and what the owner paid for it.

(Copyright 2012 by CBS San Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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