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Zillow to offer home trade-ins, like cars

Posted by Mehran Aram on Sat, Sep 28, 2019 @ 05:09 AM

Many don’t find car shopping to be the most pleasant experience but the idea of simply turning in the keys and upgrading to a new model is an exciting concept. So much so, that online real estate site Zillow is in talks to make changing your home just as easy.

Zillow is partnering with home builders to create a model that would allow homeowners who buy newly constructed homes to sell their current house directly to Zillow Offers without needing to list their property on the open market.

“One of the last things buyers want to deal with when searching for a new home is the stress and hassle that comes along with selling their existing home,” said Zillow brand president Jeremy Wacksman. He adds that the feature was designed to make it easier for buyers to oversee construction of their new home while still living in their old one.

Meanwhile, conforming no-point 30-year fixed mortgage rates are averaging 3.75 percent and 15-year rates are near 3.375 percent.

Do you have a question for Real Estate & Mortgage Analyst Mehran Aram? Submit your queries about a home purchase, refinance, or reverse mortgage via Aramco.Biz, social media (#AramcoReport), or over the phone at (866) 381-8888 and your questions may be featured in an upcoming article.

Topics: Zillow, Mortgage rates, Homeowner, Zillow Offers, Home Trade-In