Cover image for Zillow talk : the new rules of real estate
Title:
Zillow talk : the new rules of real estate
Author:
Rascoff, Spencer, author.
Personal Author:
Edition:
First Edition.
Publication Information:
New York : Grand Central Publishing, 2015.

©2015
Physical Description:
275 pages : illustrations, charts, maps ; 24 cm
Summary:
How do you spot an area poised for gentrification? Is spring or winter the best time to put your house on the market? Will a house on Swamp Road sell for less than one on Gingerbread Lane? The fact is that the rules of real estate have changed drastically over the past five years. To understand real estate in our fast-paced, technology-driven world, we need to toss out all of the outdated truisms and embrace today's brand new information. But how? Enter Zillow, the nation's #1 real estate website and mobile app. Thanks to its treasure trove of proprietary data and army of statisticians and data scientists, led by chief economist Stan Humphries, Zillow has been able to spot the trends and truths of today's housing market while acknowledging that a home is more than an economic asset. Humphries and CEO Spencer Rascoff now explain the science behind where and how we live now and reveal practical, data-driven insights about buying, selling, renting and financing real estate.
General Note:
In pre-publication, the order of the authors' names was switched.
Language:
English
Contents:
Introduction. Leaving home: Our real estate journey begins -- Part 1. Stealing home: scoring a data-driven deal on a new house. Warren Buffett is (always) right: Why buying a home is still a really smart investment ; Stats and the city: Timing is everything when deciding whether to buy or rent ; 2-4-6-8, neighborhoods that will appreciate: Predicting the next hot spot ; The Starbucks effect: How lattes perk up home prices ; It's the worst house for a reason: Why you shouldn't buy the worst house in the best neighborhood ; Do your homework: Finding a great school district in your price range ; ARMs and legs: Fixed-rate mortgages aren't for everyone ; Apples and oranges: How to determine whether buying a foreclosure is a good deal ; What to expect when you're inspecting: How to pick the right home inspector -- Part 2. Moving out: The new rules of selling a home. America's next top remodel: Not all home-improvement projects are created equal ; Magic words and dangerous descriptors: How to write an effective listing ; March madness: When to list your home ; Real est8 4 sale: Use superstitions to your advantage ; The price is right: How to determine your asking price ; Nine is the magic number: How to sell for more by asking for less ; Appraising real estate agents: Reviews correlate with performance -- Part 3. The data-hood: A new look at our nation of neighborhoods. The gayborhood phenomenon: Property values as a bellwether of social change ; What's in a street name?: What street names tell us about property values ; Empire real estate of mind: Analyzing the oddities of New York City ; The wild, wild west: America's most volatile housing markets ; Statistics are people, too: Looking at the housing bust in more than just dollars and cents ; What's walkability worth?: How walkable neighborhoods affect property valuse -- Part 4. This old housing market: Rethinking real estate in America. Owning isn't for everyone: The case for decoupling homeownership and the American dream ; The third rail of real estate: Is the mortgage interest deduction really the best use of $100 billion? ; Down by the seaside: How waterfront property plays by its own rules -- Conclusion. Follow the data to find your way home.
Corporate Subject:
Added Author:
ISBN:
9781455574742
Format :
Book

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Central Library HD259 .R368 2015 Adult Non-Fiction Non-Fiction Area
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Orchard Park Library HD259 .R368 2015 Adult Non-Fiction Open Shelf
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Julia Boyer Reinstein Library HD259 .R368 2015 Adult Non-Fiction Open Shelf
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City of Tonawanda Library HD259 .R368 2015 Adult Non-Fiction Open Shelf
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Summary

Summary

How do you spot an area poised for gentrification? Is spring or winter the best time to put your house on the market? Will a house on Swamp Road sell for less than one on Gingerbread Lane? The fact is that the rules of real estate have changed drastically over the past five years. To understand real estate in our fast-paced, technology-driven world, we need to toss out all of the outdated truisms and embrace today's brand new information. But how?

Enter Zillow, the nation's #1 real estate website and mobile app. Thanks to its treasure trove of proprietary data and army of statisticians and data scientists, led by chief economist Stan Humphries, Zillow has been able to spot the trends and truths of today's housing market while acknowledging that a home is more than an economic asset. In ZILLOW TALK, Humphries and CEO Spencer Rascoff explain the science behind where and how we live now and reveal practical, data-driven insights about buying, selling, renting and financing real estate. Read this book to find out why:

-It's better to remodel your bathroom than your kitchen
-Putting the word "cute" in your listing could cost you thousands of dollars
-You shouldn't buy the worst house in the best neighborhood
-You should never list your house for $444,000
-You shouldn't list your house for sale before March Madness or after the Masters

Densely packed with entertaining anecdotes and invaluable how-to advice, ZILLOW TALK is poised to be the real estate almanac for the next generation.


Author Notes

Spencer Rascoff graduated cum laude from Harvard University and is an alumnus of Goldman Sachs and TPG Capital. He founded Hotwire, which he sold to Expedia at the age of 24. In 2005, he started Zillow with two friends and is currently Zillow's CEO.

(Bowker Author Biography)


Reviews 3

Booklist Review

Zillow executives Rascoff and Humphries set out to explain the new rules of real estate to help in home purchases and sales. Their goals are to use Zillow data to rethink how you buy, sell, finance, and live in your home; to show how and how much the rules of real estate have changed; and to educate on old myths such as, Is home ownership really an integral part of the American dream? Real-estate decisions are complicated, and they differ from other investments due to the emotional elements (e.g., family situations, emotional attachments, and cultural expectations). Zillow was founded in 2006 with the power to estimate or . . . Zestimate the value of nearly every home in America. It is the largest real-estate site on the Web and on mobile, with 90 million people (unique users) monthly. Although this book is clearly advertising for Zillow, it contains valuable information for many library patrons to empower them as buyers and sellers in complex real-estate decisions.--Whaley, Mary Copyright 2015 Booklist


Publisher's Weekly Review

With an iconoclastic ebullience reminiscent of Freakonomics, Rascoff and Humphries, respectively CEO and chief economist of Zillow.com, exploit the online giant's massive database and sophisticated analytics to debunk conventional real estate wisdom. According to them, no, you shouldn't buy the worst house in the best neighborhood ("It's the worst house for a reason"), but you might want to buy the worst house in the hottest neighborhood, if your timing is impeccable (and these clever guys tell you how to predict the hot spots). To afford a good school district, look in the modest neighborhood bordering the affluent one. And beware: foreclosures are often not the bargains they once were. Another piece of advice from Rascoff and Humphries: avoid "unique" as an ad description like the plague-your beloved abode may "sell for as much as 30 to 50 percent less than expected!" This entertaining, quick read is not so much a how-to guide as a grab bag of surprising but useful real estate facts. It won't lead you step by step through the process of buying or selling a home, but its intelligent and clever analysis of various facets of the market will challenge and enlighten both professionals and those of us who just need a place to live. (Jan.) c Copyright PWxyz, LLC. All rights reserved.


Library Journal Review

Starred Review. This title seeks to arm home buyers, sellers, and owners with the relevant data to navigate today's postrecession housing market. Coauthored by Rascoff and Humphries, the CEO and chief economist of Zillow (zillow.com), respectively, the book tackles common myths (that remodeling a kitchen gives the best bang for your buck), niche trends (Manhattan real estate prices), and other topics (what your street name says about its value). It turns (mostly) Zillow statistics into interesting and relevant housing topics. While much of the coverage is very specific, the conclusion focuses on more general information and sometimes verges on editorializing. One example is the popular mortgage interest deduction (MID). Rascoff and Humphries state that it doesn't affect most people, only those who pay federal income taxes, itemize their deductions, and currently have a mortgage (about 13 percent of people). They recommend replacing it with a first-time home buyer tax credit or cash grant; they say that this would help less affluent buyers and wouldn't need to be subsidized by Washington, as the MID is. Extensively backed up by data and well sourced, this book is written in a fast-paced, conversational manner and is easy to read. VERDICT Recommended for those interested in statistics and the housing market, or real-estate watchers seeking new ways to look at housing.-Leigh Mihlrad, FDIC Lib., Washington, DC (c) Copyright 2014. Library Journals LLC, a wholly owned subsidiary of Media Source, Inc. No redistribution permitted.


Table of Contents

Introduction: Leaving Home Our Real Estate Journey Beginsp. 1
Stealing Home: Scoring a Data-Driven Deal on a new House
1 Warren Buffett Is (Always) Right: Why Buying a Home Is Still a Realty Smart Investmentp. 19
2 Stats and the City: Timing Is Everything When Deciding Whether to Buy or Rentp. 27
3 2-4-6-8, Neighborhoods That Will Appreciate: Predicting the Next Hot Spotp. 35
4 The Starbucks Effect: How Lattes Perk Up Home Pricesp. 49
5 It's the Worst House for a Reason: Why You Shouldn't Buy the Worst House in the Best Neighborhoodp. 57
6 Do Your Homework: Finding a Great School District in Your Price Rangep. 65
7 ARMs and Legs: Fixed-Rate Mortgages Aren't for Everyonep. 71
8 Apples and Oranges: How to Determine Whether Buying a Foreclosure Is a Good Dealp. 83
9 What to Expect When You're Inspecting: How to Pick the Right Home inspectorp. 93
Moving Out: The New Rules of Selling a Home
10 America's Next Top Remodel: Not All Home-Improvement Projects Are Created Equalp. 99
11 Magic Words and Dangerous Descriptors: How to Write an Effective Listingp. 107
12 March Madness: When to List Your Homep. 119
14 Real Est8 4 Sale: Use Superstitions to Your Advantagep. 127
15 The Price Is Right: How to Determine Your Asking Pricep. 133
16 Nine Is the Magic Number: How to Sell for More by Asking for Lessp. 141
17 Appraising Real Estate Agents: Reviews Correlate with Performancep. 147
The Data-Hood: A New Look at Our Nation of Neighborhoods
18 The Gayborhood Phenomenon: Property Values as a Bellwether of Social Changep. 159
19 What's in a Street Name?: What Street Names Tell Us about Property Valuesp. 165
20 Empire Real Estate of Mind: Analyzing the Oddities of New York Cityp. 177
21 The Wild, Wild West: America's Most Volatile Housing Marketsp. 187
22 Statistics Are People, Too: Looking at the Housing Bust in More than Just Dollars and Centsp. 197
23 What's Walkability Worth?: How Walkable Neighborhoods Affect Property Valuesp. 211
This Old Housing Market: Rethinking Real Estate In America
24 Owning Isn't for Everyone: The Case for Decoupling Homeownership and the American Dreamp. 221
25 The Third Rail of Real Estate: Is the Mortgage Interest Deduction Really the Best Use of $100 Billion?p. 231
26 Down by the Seaside: How Waterfront Property Plays by Us Own Rulesp. 239
Conclusion: Follow the Data to Find Your Way Homep. 249
A Note on Our Methodologyp. 255
Acknowledgmentsp. 257
Notesp. 259
Indexp. 267

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