Helping the Buyer through Rental Valuations- What's a "Zilpy"?

Currently I seem to have two types of client:

• Investors who want to purchase properties with positive rental cash flow
• First-time home buyers who no longer wish to rent

Each needs to know the same thing- What's the answer to the 'rent vs. own' equation?

To answer that question I do this:

• summon my keen sense of value- based on a vast depth of knowledge & experience (feel free to smile).

          OR

• look at the numbers.
  

I like to use the MLS to look up historical values of homes & then compare them to rental rates... as seen in my previous post about purchasing for cash flow.

All too often such a financial analysis goes over the head of the buyer- especially with first time home buyers. I notice that they appreciate that I've worked out the numbers but they also notice that it's a great deal of information to digest.

That's why it's nice to refer them to a site that's easy to understand.

Zilpy- is a place to look up, as they say, neighborhood rental facts. They can input an address and see the rental rates on a map. They've done what good site designers do. They've taken the complex and produced understandable results. And it's, dare I say, fun?

By sending clients there I'm able to let them kick the tires. They're able to see what homes are renting for in their target areas. With access to this information, they're more able to assess the value of the homes I've sent for them to preview from the mls.

It also allows them to discover their own "aha!" moments.

I'm sure there will be a real estate agent or two who'd rather be the source of all knowledge with their clients- but I'm not one of them. I love when my client arm themselves with market wisdom.

Rather than blather on about what Zilpy can do, give their site a spin. Also, if you'd like to know more you can check out this blog by Yelena Drabkin- who represents Zilpy.