What is Next for CyberHomes API Subscribers?
In August, CyberHomes stopped offering their home valuation API services. I liked their APIs, especially the comparable sales and neighborhood info which were very useful to create visual charts and were used for analysis by many folks. In retrospect, I should have known this from their lack of direction in this area; I always consider that a well maintained support forum is a good indication of a healthy API program as evident from the Zillow API support Forum.
My work was featured on Cyberhomes blog (now taken off line) by their marketing VP who left Cyberhomes a year ago, and taking the fizzle out of the API program in the process. Hence the latest announcement was expected in some ways, I suppose? Check out the article LPS Real Estate Group agrees to sell Cyberhomes to Listingbook for more background information.
This raises a very important question – What are the options for the current users of CyberHomes API?
As mentioned on their web site in August, they suggested using LPS Real Estate Group. When I checked with them, they didn’t have any free API offering. They have very powerful options if you are willing to pay a handsome amount which may not be viable for small web sites. For those without large budgets to work with, you may want to consider using the only two players left providing valuation data free of charge — Zillow and Eppraisal. As of now, Trulia is not offering comparable sales and I am yet to check Eppraisal offerings. Check out my Zillow comparable sales mashup, which works pretty well. As a coin has two sides, there are folks who question the accuracy of Zillow data, which will always be debated but that’s another subject in itself.
Technically, migrating your code from using Cyberhomes API to use Zillow API should not be a huge deal since all provide similar data. Especially if the original code was written well following Object Oriented Programming techniques, this should not be a costly affair in my opinion.
Particularly for Cyberhomes API users who had to explore other options this fall, feel free to discuss your experience here so that others among the Geek Estate community can benefit.
Christopher Roberts
Posted at 23:31h, 06 DecemberThanks for posting Murali! If you don’t yet have a Zillow API account, just use create one at this page: https://www.zillow.com/webservice/Registration.htm
If you have any problems, you can contact me at christopher [at] zillow [dot] com
Victor Lund
Posted at 02:01h, 07 DecemberI think that Zillow offers the responsible AVM for consumers – one that indicates clearly what their confidence is in the accuracy of the AVM. Remember that the Zillow AVM is not “industrial grade.” In parlance, it is not a good enough tool for banks to use for their purposes. They purchase these products from LPS (LPS sells the RPR AVM) or CoreLogic. Remember that it is helpful to indicate to consumers that Great AVMs only come within 5% of the transaction price 78% of the time – AT THE VERY BEST.
To benchmark, try looking up an address at chase.com which uses the corelogic AVM product
https://www.chase.com/online/Home-Lending/home-value-estimator.htm
Murali Vasudevan
Posted at 06:31h, 07 DecemberVictor,
Good point. I checked the chase url you mentioned and can see that it provides estimate value and five comparable sales. It returned $116,000 for the property 1002 Arcaro Ct,Florissant,MO 63034. Interestingly, Zillow API returned $165,000
On further reading, looks like none of these can replace real-live appraisers?. Here is a link I used -> http://www.thetruthaboutrealty.com/automated-valuation-model-avm/
Lynn
Posted at 14:14h, 07 DecemberAlthough you mention that E-appraisal is a free service, i find that the only service they offer is for $399 a year. Not so expensive, but not free. Thanks for the great info though.
Lynn
Posted at 15:35h, 07 DecemberSorry, this is Lynn again. Turns out the API format is free. I was wrong. Thanks again for all the great info you always have!
Murali Vasudevan
Posted at 06:33h, 08 DecemberLynn,
Thanks for checking. I have been trying to get an API key from eppraisal and have sent them a reminder – no luck yet. This is very unusual since getting API key has been a snap with other providers. Once I get access to their API, I will share my experience and a sample demo here. Make sure to come back!
Randy
Posted at 15:34h, 09 DecemberThanks for trying to clear up some of the issues with Zillow. It is amazing how many difficulties there have been trying to figure it all out.
Dan Moore
Posted at 14:57h, 31 MarchAny other AVM APIs out there? Anyone have experience with HomeGain?