Zillow enters crowded space

Part 1: Assessing accurate home values

(This is Part 1 of a two-part series. See Part 2.)

A hurricane the magnitude of Katrina has just hit the real estate industry. Did you notice?

Since its recent launch, the real estate industry has been buzzing about a new Web site called Zillow.com. According to Alexa.com, an Amazon Web site that ranks Web traffic, Zillow has rocketed to the top 200 Web sites in the world. That’s higher than Realtor.com or any other real estate Web site.