bostonbubble.com Forum Index bostonbubble.com
Boston Bubble - Boston Real Estate Analysis
 
 FAQFAQ   SearchSearch   MemberlistMemberlist   UsergroupsUsergroups   RegisterRegister 
 ProfileProfile   Log in to check your private messagesLog in to check your private messages   Log inLog in 

 
Go to: Boston real estate bubble fact list with references
More Boston Bubble News...
DISCLAIMER: The information provided on this website and in the associated forums comes with ABSOLUTELY NO WARRANTY, expressed or implied. You assume all risk for your own use of the information provided as the accuracy of the information is in no way guaranteed. As always, cross check information that you would deem useful against multiple, reliable, independent resources. The opinions expressed belong to the individual authors and not necessarily to other parties.

Fantasy Real Estate Game

 
Post new topic   Reply to topic    bostonbubble.com Forum Index -> Greater Boston Real Estate & Beyond
View previous topic :: View next topic  
Author Message
Brian C
Guest





PostPosted: Tue Jul 08, 2008 1:14 pm GMT    Post subject: Fantasy Real Estate Game Reply with quote

http://predict.ziprealty.com/

Think you know the market? Well check this site out and prepare to low-ball!

It will give you a set of houses and you predict how much its going to sell. Based on what the value you set, it will determine your Property IQ.

I went into a town that I viewed almost every property in my price range (Norwood) and played the game. Almost every single prediction was way below that ZipRealty expects it to sell for.

So whats your IQ?
Back to top
Renting in Mass



Joined: 26 Jun 2008
Posts: 381
Location: In a house I bought in December 2011

PostPosted: Tue Jul 08, 2008 4:08 pm GMT    Post subject: Reply with quote

It's too bad the site doesn't let you set some parameters for the types of houses that it asks you to price. If someone is in the marker for a million dollar house, it doesn't make sense to ask them about the value of a one bedroom condo. They probably aren't very familiar with that market. I've skipped past 7 houses now, and haven't seen anything that's even close to the market I'm familiar with.
Back to top
View user's profile Send private message
Chuck
Guest





PostPosted: Tue Jul 08, 2008 4:24 pm GMT    Post subject: Re: Fantasy Real Estate Game Reply with quote

Now that you have made your predictions, the fun is in watching how your estimates compare to what the crowd thinks over time. In the game, Zip is not stating anything about what it thinks the home will sell for. It is all in the hands of the players. The price starts at the listing price. Time will tell where it ends up.

Chuck
Back to top
Chuck
Guest





PostPosted: Tue Jul 08, 2008 4:28 pm GMT    Post subject: Home parameters Reply with quote

Renting in Mass:

Good feedback. We wanted to keep the search process simple and based on location to start. We can add home parameters later.
Back to top
Renting in Mass



Joined: 26 Jun 2008
Posts: 381
Location: In a house I bought in December 2011

PostPosted: Tue Jul 08, 2008 4:39 pm GMT    Post subject: Reply with quote

It would be ideal if there was a Predict button on the My Homes page. That way I could make prediction on the houses I'm actually tracking (and know the most about). Is that possible?
Back to top
View user's profile Send private message
dtremit



Joined: 06 Feb 2008
Posts: 3
Location: Somerville, MA

PostPosted: Tue Jul 08, 2008 6:57 pm GMT    Post subject: Reply with quote

Nearly everything in my area seems to assume a sale price of list or 1% below list. It's either a lack of data or gaming of the system by agents, I expect.
Back to top
View user's profile Send private message
Renting in Mass



Joined: 26 Jun 2008
Posts: 381
Location: In a house I bought in December 2011

PostPosted: Tue Jul 08, 2008 9:50 pm GMT    Post subject: Reply with quote

I think it's a lack of data. I'm guessing they just rolled this out. All the prices start at the list price, so they haven't moved very much.
Back to top
View user's profile Send private message
Chuck
Guest





PostPosted: Tue Jul 08, 2008 10:07 pm GMT    Post subject: Reply with quote

Prices will start moving as more players come in. We run the Prediction engine every 15 minutes. Stick with it and let us know what you like or don't like.
Back to top
Guest






PostPosted: Thu Jul 10, 2008 6:04 am GMT    Post subject: Reply with quote

Renting in Mass wrote:
It would be ideal if there was a Predict button on the My Homes page. That way I could make prediction on the houses I'm actually tracking (and know the most about). Is that possible?


It is possible and is one of the features we are looking to add. Thanks for the feedback. Keep it coming!

Myron
Back to top
john p



Joined: 10 Mar 2006
Posts: 1820

PostPosted: Thu Jul 10, 2008 1:16 pm GMT    Post subject: Reply with quote

The market price is really based on what someone will really pay for it. I mean we weigh a ton of criteria and settle in on what we'll be willing to pay. Without this due dilligence and a real commitment to actually put yourself on the line, it might not provide the filter necessary to keep out someone who say might want to leave a false impression about a place...

One thing I would say would make this more credible is to only let people vote on properties that were real buyers, meaning they filled out an application online and forwarded a preapproval letter to the administrators for the amount of the sale price and they were willing to let the listing agent contact them. Basically, it would be a website that would be for people that would say, "Contact me if you ever think about selling it at this price point". That, would be more credible to me and actually useful to all parties.
Back to top
View user's profile Send private message
balor123



Joined: 08 Mar 2008
Posts: 1204

PostPosted: Thu Jul 10, 2008 7:38 pm GMT    Post subject: Reply with quote

Yes but then no one would use the website. Also, even having submitted an offer doesn't reflect what you are willing to pay. That is brought out through negotiation.
Back to top
View user's profile Send private message Send e-mail
john p



Joined: 10 Mar 2006
Posts: 1820

PostPosted: Thu Jul 10, 2008 9:29 pm GMT    Post subject: Reply with quote

Haaah, you got me...
Back to top
View user's profile Send private message
Display posts from previous:   
Post new topic   Reply to topic    bostonbubble.com Forum Index -> Greater Boston Real Estate & Beyond All times are GMT
Page 1 of 1

 
Jump to:  
You can post new topics in this forum
You can reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum


Forum posts are owned by the original posters.
Forum boards are Copyright 2005 - present, bostonbubble.com.
Privacy policy in effect.
Powered by phpBB © 2001, 2005 phpBB Group