Oct
31

Zillow To Add More Foreclosed Homes to Listings

October 31, 2012

cook county foreclosuresZillow will now display information on more than 1.5 million homes that are undergoing foreclosure, but not yet officially for sale. The change in listings comes as part of Zillow’s plan to become the most visited website for prospective home buyers.

The foreclosure data that will now be available could previously only be accessed via website subscriptions or through a local courthouse. Zillow has acknowledged that it may be subject to criticism regarding privacy concerns over posting the listings.

All Zillow users will be able to access the new foreclosure information. Users will be able to view the address of the property, the amount of the original mortgage and the unpaid mortgage balance that is still due. The new Zillow listings will also show who initiated the foreclosure, what the foreclosure sale price might be and the details of the current foreclosure process.

By posting this ‘shadow inventory,’ Zillow allows homeowners an opportunity to potentially buy a home out of a foreclosure process by making an offer either directly to the home owner or a bank.

In the local area, more than 11,000 homes and Chicago condos have been listed.

What do you think of Zillow’s new foreclosure listings?

About The Author

Read All Stories By Mitch Levinson

Mitch Levinson is the author of “Internet Marketing: The Key to Increased New Home Sales” published by BuilderBooks. He is an Internet marketing expert with expertise in search engine optimization, website development, email marketing, social media and CRM consulting services. He is known for creating effective programs that can be tracked through analytics to prove effectiveness and ROI. Mitch is founder and president of MLC New Home Marketing and MLC FlatFee Realty, as well as managing partner of mRELEVANCE, LLC, a Marketing, Communication, Interactive agency with offices in Chicago and Atlanta. He currently leads the Chicago team. A Multi-Million Dollar Sales Producer who earned an MBA in Computer Information Systems and eCommerce, he brings a unique perspective and experience to the field of real estate communications. Mitch combines the two interests in order to help home builders and developers gain a competitive advantage through the Internet and technology. When he isn’t behind a computer, he enjoys participating in sports and coaching his kids’ teams. Mitch resides in Arlington Heights, Ill., a northwest suburb of Chicago, with his family, which includes two rambunctious labs. Visit my Google+ profile.

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