Zillow's chief analytics officer and chief economist offers insight into the company's approach to data, models, and the real estate market.
Michael Krigsman examines the influence of Zillow Estimate, or Zestimate, on the real estate industry. The Zestimate system "uses a variety of data sources and models to create an approximate value for residential properties," explains Krigsman, and its effect "has been considerable, to say the least."
From the home buyer perspective, Zillow's Zestimate enables significant transparency around prices and information that historically was available only to brokers. The company has genuinely democratized real estate information and adds tremendous value to consumers.
The article includes a transcript of an in-depth interview with Stan Humphries chief analytics officer and chief economist at Zillow. A video of the conversation is show below.
Read the full story: Zillow: Machine learning and data disrupt real estate
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
California plans to bury El Niño’s downpour
If the state plays its cards right, it may be able to store a billion acre-feet of El Niño’s water in aquifers.
Desperate measures: Advocates weigh draining Lake Powell to fill Colorado River
Draining the reservoir could reduce evaporation losses by a couple hundred thousand acre-feet.
Chicago voters approve permanent festival grounds, penalty for vacant property owners
Currently, major summer and fall festivals take over public parks for weeks at a time, drawing criticism from nearby residents
NYC votes to cut outdoor dining red tape, speed up permitting
New York City also voted to allow the Department of Transportation to begin work on urgent projects before notifying elected officials.
California appears to reject Prop. 45
The proposition would have expanded the projects that qualify for a streamlined environmental review, effectively paring down the California Environmental Quality Act.
FREE Course: Walkable City 1: Why Walkability?
After describing his path towards focusing on walkability as the essence of good planning, Jeff Speck marches through his five principal reasons for making more walkable places.
Reinventing Malls: Planning Alchemy—Turning Gray Fields Into Gold
The course focuses on the opportunities and imperatives that shape reinvention of mall sites.
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