Seattle Washington Zip Code

IPO Pick of the Week: Zillow

Based in Seattle, Washington, Zillow ( Z ) has scheduled a $59 million IPO with a market capitalization of $461 million at a price range mid-point of $17 for Wednesday, July 20. The full IPO calendar for the week of July 18th includes seven IPOs.

Zillow is our IPO pick of the week for several reasons.

Growth appears to be accelerating, based on comparing the March quarter with the December quarter: Premier agent subscribers up 32%, unique users up 36%. Gross profit has increased to 84% from 60% since 2008. According to Inman.com Zillow was the third most popular real estate in May. Yahoo was number 1. HomeAway ( AWAY ) was number 18. The competitive moat that Zillow is surrounding itself with appears to be a real barrier to competition. Monthly unique users for the three months ended March 2011 increased to 17.3 million, up from 12.7 million for the Dec. 2010 quarter. The Yahoo strategic relationship could be very important to Zillow. During the three months ended March 31, Z began to recognize revenues related to its strategic relationship with Yahoo Real Estate. Under this strategic relationship, Z provides real estate listings to Yahoo Real Estate and has exclusive rights to sell real estate agent advertising and certain graphical advertising for display on the Yahoo Real Estate site. Marketplace revenues show very good sequential quarterly growth. Positive cash flow was generated from operations for the three months ended March 2011 of $3.1 million, 31% of top line revenue.

At the price range mid-point of $17 and annualizing results for the March 2011 quarter, Zillow is priced at 10.2 times sales and 6.1 times book value. The price-to-earnings is a negative 144 (a higher negative ratio is better than a lower negative ratio).

Zillow Valuation Metrics

For metric comparisons with HomeAway based on Zillow’s original filing price range mid-point of $13, see HomeAway Overpriced Compared to Zillow .

Zillow is the leading real estate information marketplace. Z provides vital information about homes, real estate listings and mortgages through the Zillow website and mobile applications, enabling homeowners, buyers, sellers and renters to connect with real estate and mortgage professionals best suited to meet their needs. Z believes it is transforming the way consumers make home-related decisions.

In December 2010, Z began collecting and displaying consumer-generated real estate agent ratings and reviews. By June 9, 2011, consumers had submitted more than 50,000 agent reviews published by Zillow. In February 2011, Z launched the strategic relationship with Yahoo Real Estate.

Kirkland Home Trends in zipcode 98034, 98033, Real - Seattle Real ...

Are you looking to buy, sell, or invest?”

If you are a Buyer – Inventory is low so you better hurry. Interest Rates will not stay low for long. What goes down must come up! I have been in Real Estate now for 20 years and seen the ups and the downs. If you are a Seller – I am seeing multiple offers on homes right now. If your looking to buy before school starts this would be the time to put in your offers. We are seeing a limited amount of inventory to choose from. If you are an investor – and are looking to either fix up and flip a property or hold it and place a renter in the home the best time is now so you can get it ready for tenants to move in and get settled.

This past week we have helped clients sell their homes, and we have helped clients purchase new homes! The entire team has had their schedules “jam packed” with showings, inspections, and presentations. The phones have been ringing nonstop, and our emails are flooded. But don’t forget we are never to busy for your calls. Contact us with your real estate questions thachn@johnlscott.com or 206-334-8773

So, how’s the market?

The market is rocking with deals and you do not want to miss the opportunities that are out there. You don’t want to be saying to yourself if I only bought 20 years ago. You want to be saying I’m glad I did buy 20 years ago. It’s never been a perfect time like NOW.

Let us help you find everything you need to know about buying or selling a home! As one of the most professional real estate teams in our community for over 20 years, we are dedicated to providing the finest service available. The real estate industry is becoming more sophisticated and challenging every day, you need professionals that understands the industry and is positioned to stay ahead of the game. We go the extra mile to help you achieve your goals. That’s why we constantly research the market and property values so your home is priced effectively from day one. We also make sure the public knows your home is for sale by using innovative advertising and marketing techniques to attract potential buyers.

Here are the stats for Single Family Homes, in the Community East of Seattle, Washington’s Community, Kirkland, WA Located in the zip code 98034, and 98033.

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