Have you heard about Zilpy? New site for tracking rents in cities across USA…

A title rep sent me an email today that gave me a head’s up on a new site I’d not seen before called www.Zilpy.com. It looks a heck of a lot like Zillow but with data on rents instead of home values. I’ve been playing around with it a bit and while I can’t figure out exactly yet how they’re getting the data, I’m intrigued. Most likely I’ll make mention of it to some of our investors to get their feedback on it as well and see if they think it’s a worthwhile site.

Check out the function of “heat maps” for rent levels in Washington. More states and cities are covered so it’s not just a Seattle gig. I believe it’s come to life from Silicon Valley.

Zilpy.com

10 Great Conversations

Just for fun, I started recording notes on real estate conversations I enjoy following and I decided that when the list hit ten, I’d hit publish:

  1. David Smith has a great (no wining allowed) article about the housing bubble. I only wish David interacted with the real estate blogging community a little more because his stuff is great but easily missed…
  2. Continuing on the bubble topic, Dan Melson puts on a great effort describing why renting really is for suckers (and what yo do about it). For me, this is a great example of why real estate professionals should not write about the bubble (David Smith being the exception! 🙂 ) It reminds me of the “fool“ish investment advice so popular in 1999/2000 that said it didn’t matter what price you bought a stock at as long as the company was good, you would make money in the long-term. Here’s my problem with this argument… If rents are cheaper than the interest payment (i.e. both of these being the completely sunk costs) and home prices go down slightly in the near future (which doesn’t seem inconceivable for selected markets in the country), then no amount of number juggling will replace the fact that if a potential home owner would be best served waiting to buy until the prices bottom out. I realize there are more than a few “ifs” in my statement, but my goal is not to say that it is a bad time to buy, only that a blanket statement “it is always a good time to buy” falls on deaf ears.
  3. On a related note, it is timely that the NYTs notes that rents are rapidly rising across most of the US (with Seattle being a highlighted area!).
  4. Greg shows off his custom signs. I think these are brilliant marketing moves and every agent should look for ways to market themselves through their listings. Beautiful stuff…
  5. And talking of beautiful ideas, Claudia Wicks mentions a very simple marketing idea ($1.50 simple) that could go a long way… There’s a beauty in simplicity (and it reminds me of an idea that Anna and I were batting around a while back…)
  6. And if you really want beauty, Fraser Beach takes staging to a new level by hiring actors (beautiful ones!) to play house during an open house
  7. It takes a certain level of confidence to have fun with your previous mistakes. (Kris is clearly a confident agent and I like that!)
  8. ActiveRain is getting some hype from both the Real Estate Tomato and the Future of Real Estate Marketing. I definitely think that Matt Heaton is onto something interesting, and he doesn’t get particularly phased by either Greg or Joel, which I think is a great sign.
  9. Because I’ve been there
  10. Greg (Linden this time!) creates a list with (nearly) all the Seattle start-ups and their associated Alexa rankings. It is a list that is definitely worth checking out as you might be surprised at the massive activity within the Seattle start-up community! For those interested, the rank of the real estate sites were: Zillow (976), Homepages (21,720), Redfin (22,117). RCG was not included in his list, but we are ranked at 75,844. You might also be interested to know that despite the fact that we’re not ranked as high as some of the other sites, our reach is right up there with HomePages and Redfin. (not bad for a site with no paid staff and $120/year hosting fees!). And since I mentioned ActiveRain earlier (and they are based in Kirkland), I think it is interesting to note that they are seeing awesome growth in the number of pageviews that is blowing away all the local real estate sites save Zillow. Considering their Alexa ranking is only 108,655, they are obviously creating a sticky user experience.