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Zillow.com sued by housing group |
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Zillow.com sued by housing group
SEATTLE -- Oct. 30, 2006 -- A non-profit group has filed a complaint with the U.S. Federal Trade Commission against Zillow.com, an online house-pricing service.
The National Community Reinvestment Coalition (NCRC) in Washington says Zillow.com is misleading consumers, lenders and real-estate professionals, the Seattle Verdana,Arial reported Friday.
NCRC says Zillow.com, which provides online data on the value of 68 million U.S. homes, is accurate less than 30 percent of the time, causing "substantial injury to consumers nationwide when they consider selling their home."
The group also says Zillow.com is more likely to underestimate the value of homes in low- and moderate-income communities than in high-end neighborhoods.
Zillow.com rejected the complaint as groundless and said its Web site is designed as a "starting point for consumers who want to learn about the value of homes."
Copyright 2006 by United Press International |
