Realtor.com takes on Zillow’s Zestimate with ‘My Home’

Realtor.com has launched a new “My Home” dashboard feature to help homeowners manage their homes as an investment — and presumably to compete in the marketplace with Zillow and its popular Zestimate offering.

My Home — available on realtor.com’s desktop and mobile sites — touts a one-stop view of a home’s value, equity, financing options, neighborhood sales activity and trends. It also suggests home improvement projects that could add value to a home.

The product is intended to appeal to the expanding population of long-term homeowners whose equity in their properties keeps growing — making it imperative that they get savvy and manage their houses like any other key investment.

In 1985, about 10 percent of all U.S. homeowners were recent movers, according to realtor.com, but that figured had dropped to 5 percent by 2015.

Even so, the amount of time homeowners devote to “managing this asset” — their house — “is really limited,” said Ryan O’Hara, chief executive of Move, Inc., realtor.com’s parent company. “We’re changing that with My Home. Now with personalized data at their fingertips, homeowners have more insight into their investment and are better equipped to make decisions such as when to sell or when to invest in upgrading their home to their dream home.”

My Home offers what realtor.com calls “an enhanced home value estimate for homeowners.”

When an owner opens the feature, the dashboard shows an estimate of mortgage payments and equity, assuming a 20 percent down payment at the time of purchase. The owner can update the feature with current mortgage information to track payments and principal. Taking current mortgage rates and equity options into consideration, My Home also indicates financial savings options.

My Home is available at realtor.com/myhome.

Photo: Ryan O’Hara, CEO of realtor.com, at the company’s headquarters in Santa Clara. (Karl Mondon/Bay Area News Group)

 

Tags: , , , , , , ,

 

Share this Post



 
 
 
 
 
css.php