For several years now, real estate website Zillow.com has allowed us to visit their site and find out how much our home is worth. As of last week, it is also telling the world if we are in foreclosure.
Zillow has launched a free feature that allows anybody searching for a home to view those homes that are in distress, in some stage of pre-foreclosure or foreclosure.
I just left the site. I registered, entered my home zip code, and a map popped up showing me all the homes in distress. When I clicked on a particular home, I could scan the details of when the home went into default, how much the owner owes, whether the lender has taken the property back, date of foreclosure auction, etc.
I had mixed feelings. Part of me felt I was being invasive, snooping around and getting detailed information on a neighbor’s financial plight. Another part of me felt this was a natural progression in making more information available to the public as we shop for homes. Is this right? Is it wrong?
Advocates and critics will be lining up against each other, and only time will tell how this will play out. For the moment, if you are looking for a home to live in or as an investment, you might as well check it out and determine for yourself.