Zillow: Getting Better Every Day

Zillow continues to impress me with the company’s “eyes wide open” approach to selling Real Estate and now, mortgage loans. As we know, one of the main culprits behind slowing  sales – and yes, they are slowing here, too, though I did hear of a property on Caruth that went under contract in one day — is this credit crunch. Was talking to a mortgage broker yesterday who tells me that if you have great assets — not necessarily Real Estate — and superior credit scores he can get you qualified. But enter the self-employed or young people starting out and he’s got himself a Texas-sized challenge. Bernake could lower rates to 1% — some folks are not going to find money.  

Enter Zillow at a time like this. Today’s blog says they are opening up even more by letting everyone view anonymous loan requests; the company claims to have had more than 40,000 since thir launch. By having a mortgage site, they own the data and provide more transparency to the process.  I find it all interesting, what do you think?