We were notified by David G. at Zillow of the following:
Update: We are very pleased that the Arizona House of Representatives has amended SB1291, a proposed law to regulate appraisals, to exclude Web sites like Zillow.
Many of you have already read our post Zillow Banned in Arizona by Regulators. Is the Novelty Wearing Off?. Im just curious if there are any reactions to this announcement?
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I’m pretty happy to hear this decision. It’ll be interesting to see if any other states tackle this battle.
The law was overbroad in the legal sense (inartfully drafted) and was therefore unenforceable anyway. Amendment helped tighten the statute but it is still overbroad. If 2 guys in a bar give opinions of value—they can’t be sued as unlicensed appraisers.
Hi Joshua,
This story’s taken a new turn; the amendment failed to pass today (which seems unrelated to the AVM issue). Greg has an update at Bloodhoundblog; http://www.bloodhoundrealty.com/BloodhoundBlog/?p=1344
I’ll let you know when there’s more news.
Interesting development David. Thanks for the update.
Zilliow’s a great source…maybe they alraedy have enough great sources down there…
James, as an investor you ought to look at Property Shark
propertyshark.com