Zillow’s controversial “Zestimate” lives to see another day: A federal judge dismissed a three-month-old lawsuit that sought to end the real estate listing site’s practice of estimating a home’s value, claiming it wasn’t just inaccurate, it actually hurt homeowners and homebuilders. [More]
appraisal
Buyers Sue Agent For Inflating Real Estate Appraisal
By 1.22.08
The New York Times has an interesting article about a couple in California who are suing their real estate agent (who is conveniently also a mortgage broker) for allegedly artificially inflating the appraisal on their home by $100,000. A few days after moving in to their new home, says the NYT, “they got a flier on their door from another realty agent. It showed a house up the street had just sold for $105,000 less than theirs, even though it was the same size.”
