Answers - Real Estate

When Zillow first hit the web last year, I was intrigued. Wells Fargo Bank had previously offered a similar tool on their

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

website but it was no longer available. When I checked out Zillow, I wasn’t surprised to find that similar to the bank too

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

l, the numbers were only accurate in areas where homes were similar in age, design and lot size. If you live in an eclecti

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

c neighborhood with radically differing styles of homes, near a lake or in the country, the value could be off by thousand

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

. So when I checked it out, I took the information with a grain of salt. After all, the value of my own home since it is l

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

ocated in the country was based on its sale price from 10 years ago and its current tax value.

Evidently the Wall S

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

treet Journal Real Estate Journal had some of the same observations as I had with Zillow. Recently they looked at 1000 rec

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

ent home sales transactions in seven different states and compared them to their “Zillow Zestimates”. According to the art

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

cle, “Zillow came within 5% of the price in a third of the transactions studied by The Journal. It was more than 25% off t

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

arget on 11% of them. In 34 of the 1,000 transactions, Zillow was off by more than 50%.” There was an overall median diffe

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

rence between the actual sales price and the Zillow estimate of 7.8% which is very close to the margin of error Zillow est

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

imates at 7.2%. Read the entire article at http://www.realestatejournal.com/buysell/tactics/20070215-hagerty.html?refresh=

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

n

For certain homes in certain areas, Zillow is a great tool. I recently visited the site and was surprised at how

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

their service had expanded during the past year. Not only could someone find an estimate of value for a home but there is

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

a listing search as well. Buyers can search homes that are currently listed, both FSBO and with Realtors. There are color

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

photos, aerial views, street maps as well as values. As an agent, I will only be listing homes on Zillow that fit the cri

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

eria where an accurate “Zestimate” will come up. But it is a tool I will use. My clients were impressed as it was another

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

avenue to bring in buyers.

Zillow will not replace the knowledge and expertise of an experienced real estate agent

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

. But for quick values for homes with similar styles built in many city developments, it is surprisingly accurate. With al

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

l of the added features and information, Zillow can be a useful tool in the right hands.

Copyright 2007 Teri Eckhol

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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Answers - Zillow - Valuable Tool or Inaccurate Values?

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