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Submitted by Ashton Coleman on April 24, 2008 - 1:47pm.

Zilpy's got great potential yet not very efficient yet...I tried for '33139' & 'Miami Beach' with no luck.
Think Big, Aim High, Act Bold,
Ashton Coleman
Keller Williams Miami Beach

 
Submitted by Daniel Bretzke on April 24, 2008 - 9:04pm.

I took a look at the Zilpy widgets for my rental neighborhood, which is in Rainier Beach, Seattle WA. I have advertized, and rented a couple of properties in the last month. I use Craigslist for all my advertisements. On one add I put the incorrect street address in the street finder, but was correct in the text of the listing. Ziply found both listings and listed them as separate locations. The top five comparison were for my units. In the past I have run listings at higher rates than the market trying to find the market rate. This time, the current tenant had not moved out, and I wanted to rent it quickly, thus the old rent. The unit has not rented, but next week, I will be listing it for $100 more. When I do this, it will show a 10% jump in rent in this sub market. Look out, Rainier Beach must be getting better!
This is a pretty good tool, but it will need a larger amount of CORRECT data to make it accurate. The challenge will be to figure out what is correct, a mistake, and what is intentional.
This is a good tool, and I will add it to my web site.
If you are curious, it was a two bed, 1 bath duplex in Rainier Beach Seattle, 98118

 
Submitted by on April 24, 2008 - 9:45pm.

great info.. thanks!

 
Submitted by on April 27, 2008 - 8:17am.

Thank you for the feedback Daniel. On the issue of incorrect address, Zilpy is an automated system, if the (incorrect) address you entered points to a
correct one, it is challenging for an automated system to detect that. However, the amount of market data pushes the error margin to insignificant. We run address validation for all listings and discard invalid ones.

On the second remark, Zilpy Rent Index as displayed in the Widgets, take into account Median rents, hence, wild variations at the lower and upper interval will not affect the index massively. Listing the property for $100
more next week will not affect the Index.

As the story goes with the Nordstrom customer service guy who refunded tire
chains to a customer when Nordstrom doesn't sell Tire chains and the question what if all customers will do that, it was pointed out that's not
the case. The point here is that not all that advertise vacancies overinflate the rates to run at the risk of nobody calling, hence, Zilpy
Indexes are very little affected by these variations. Also, zilpy requires a minimum amount of sample data to calculate statistics. You can see for locations where data is sparse that there is no Zilpy Index.

 
Submitted by Elizabeth Jones, SRES,RSPS on May 1, 2008 - 7:19pm.

It looks interesting but not sure how to use it, any tips?

Elizabeth H Jones, SRES
Real Estate Agent
Diane Turton, Realtors
Wall Office
2383 Hwy 34 South
Manasquan, NJ 08736
ejones@dianeturton.com
http://www.dianeturton.com/elizabethjones
http://www.monmouthoceanmls.com/elizabethjones

 
Submitted by Pasadena Real Estate Agent on May 1, 2008 - 7:23pm.

I wish there was some way to embed code so you could chose the city you work in and display local listings that way!
Regards,
The Manzo Team
RE/MAX Tri-City
626 296-2900
Pasadena Area Real Estate
http://www.pasadenatopagent.com
Los Angeles Are Real Estate
http://los-angeleshomes-forsale.com/
http

 
Submitted by Pasadena Real Estate Agent on May 1, 2008 - 7:23pm.

I wish there was some way to embed code so you could chose the city you work in and display local listings that way!
Regards,
The Manzo Team
RE/MAX Tri-City
626 296-2900
Pasadena Area Real Estate

Los Angeles Area Real Estate
http://los-angeleshomes-forsale.com/
http

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