Follow us:

Microsoft Pri0

Welcome to Microsoft Pri0: That's Microspeak for top priority, and that's the news and observations you'll find here from Seattle Times technology reporter Matt Day.

October 27, 2006 at 11:30 AM

Zillow targeted with complaint

A nonprofit group has filed a complaint against Seattle-based Zillow.com, saying that the online real estate site is so inaccurate when it comes to home valuations that it is causing bigger problems.

The complaint came from the National Community Reinvestment Coalition, which works to try to bring more private money into low- and moderate-income neighborhoods. That group said it founded the Center for Responsible Appraisals and Valuations.

Zillow says the allegations are groundless. Here are some of the key portions in the complaint, which is online here.

Zillow says that most of its home valuations are within 10 percent of the selling price of the home as valued by the owner or a real estate professional, according to the group. But the NCRC did its own audit and found that Zillow came within that 10 percent zone less than a third of the time.

The group also said that Zillow overvalues homes in affluent areas and undervalues homes in neighborhoods that are primarily African American or Latino. That disrupts the NCRC’s mission of bringing more private money into underserved areas.

The NCRC also said it was unfair that Zillow gets to freely give estimates while traditional appraisers have to deal with liability issues and reporting and record-keeping requirements.

Comments | More in

COMMENTS

No personal attacks or insults, no hate speech, no profanity. Please keep the conversation civil and help us moderate this thread by reporting any abuse. See our Commenting FAQ.



The opinions expressed in reader comments are those of the author only, and do not reflect the opinions of The Seattle Times.


The Seattle Times

The door is closed, but it's not locked.

Take a minute to subscribe and continue to enjoy The Seattle Times for as little as 99 cents a week.

Subscription options ►

Already a subscriber?

We've got good news for you. Unlimited seattletimes.com content access is included with most subscriptions.

Subscriber login ►
The Seattle Times

To keep reading, you need a subscription upgrade.

We hope you have enjoyed your complimentary access. For unlimited seattletimes.com access, please upgrade your digital subscription.

Call customer service at 1.800.542.0820 for assistance with your upgrade or questions about your subscriber status.

The Seattle Times

To keep reading, you need a subscription.

We hope you have enjoyed your complimentary access. Subscribe now for unlimited access!

Subscription options ►

Already a subscriber?

We've got good news for you. Unlimited seattletimes.com content access is included with most subscriptions.

Activate Subscriber Account ►