Magazine article American Banker

Zillow Adds Foreclosed Homes to Website

Magazine article American Banker

Zillow Adds Foreclosed Homes to Website

Article excerpt

Byline: Brian Browdie

Houses held by lenders that may be headed for foreclosure are coming out of the shadows.

Zillow (Z), the online real estate company, said Thursday it has added information on 1.8 million pre-foreclosure and foreclosed homes to its site. The company said the homes have yet to be listed for sale and are unavailable on multiple listing services or other websites.

Visitors to Zillow.com and users of Apple mobile devices can search for both pre-market and for-sale homes in their area, the company said.

"Zillow is taking information that was really only available to a select group - in this case, savvy investors - and making it more easily available to interested home buyers," Spencer Rascoff, Zillow's chief executive, said in a news release. "What's more, bringing this information to light, and taking this inventory out of the shadows, can help bring these homes to market faster than ever before. …

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