Zaio Selloff

[Fred]

What I want to know is why haven't the zone owners sued Zaio for fraud?

I tend to think most of the understand they were buying a lottery ticket. Where's the fraud, if the ticket doesn't cash?

I suspect that if Zaio was put under the control of its top talent zone owners,

I thought that is what they did. Some fellow bought 35 zones way back when that was probably a handsome percentage of total sales, and they made him CEO.

 

[Couch Potato]

If you "own" a zone with say 30,000 homes in that zone, how do you do a "drive-by" on all 30,000 homes once a year? I would like to see that defended in court! Zaio is just another unreliable AVM with the blessing of an idiot who holds an Appraisal license! IMHO!

They do a "walk-by" not a "drive-by." Zones are designed to have 10,000 homes, so an appraiser would need to have purchased the responsibility to maintain three zones to have 30,000 houses to view. The typical time to walk a zone is about a month. Last time I checked there were twelve months in a year. As long as the appraiser is not overweight, it would be easy to defend in court.

The operation of a zone is likely irrelevant to the selloff of the stock.

 

[INSPECTOR]

They do a "walk-by" not a "drive-by." Zones are designed to have 10,000 homes, so an appraiser would need to have purchased the responsibility to maintain three zones to have 30,000 houses to view. The typical time to walk a zone is about a month. Last time I checked there were twelve months in a year. As long as the appraiser is not overweight, it would be easy to defend in court.

The operation of a zone is likely irrelevant to the selloff of the stock.

Maybe I misunderstood her but I talked to an Appraiser who had purchased a zone and said it had grown to something like 38,000 homes. That aside I can't imagine doing 10,000 drive-bys in any given 12 month period. Now I do admit I'm not the fastest walker, but if I could do 41.6 "walk-bys" a day every day 5 days a week, that would yeild about 9,984 in a 12 month period! That's 1.7 "walk-bys" per hour every houry 24 hours a day (Zaio people don't need sleep) Doesn't leave much time for spending all that money your making.

 

[Couch Potato]

Maybe I misunderstood her but I talked to an Appraiser who had purchased a zone and said it had grown to something like 38,000 homes. That aside I can't imagine doing 10,000 drive-bys in any given 12 month period. Now I do admit I'm not the fastest walker, but if I could do 41.6 "walk-bys" a day every day 5 days a week, that would yeild about 9,984 in a 12 month period! That's 1.7 "walk-bys" per hour every houry 24 hours a day (Zaio people don't need sleep) Doesn't leave much time for spending all that money your making.

1.7 per hour is far too low a number utilizing the Zaio software (which is actually what a zone owner has purcahased) to score the properties. Especially when many of the properties will not have changed much. A smart zone owner (how is that for an oxymoron ) would utilize a Segway and easily do 100 houses in an hour. If Zaio had packaged a Segway scooter with every zone, they could have sold them all by now.

As for spending all that money, nobody has that much time.

 

[PropertyEconomics]

I do feel bad for those guys and gals who invested so much in their zones. But then again, a sense of schadenfreude takes over every now and then too.

Dont feel too bad Mr Klos ... their goal was to make sure there was an end to you. You do realize that was their goal dont you?

Nahhh I dont feel bad for them ... my father said a fool and his money soon part ... Zaio, and in particular Zaio zone owners, are proof of that theory.

 

[INSPECTOR]

1.7 per hour is far too low a number utilizing the Zaio software (which is actually what a zone owner has purcahased) to score the properties. Especially when many of the properties will not have changed much. A smart zone owner (how is that for an oxymoron ) would utilize a Segway and easily do 100 houses in an hour. If Zaio had packaged a Segway scooter with every zone, they could have sold them all by now.

As for spending all that money, nobody has that much time.

If the Segway is the standard mode of transportation for Zaioiuns then given a top speed of 12.5 miles per hour and a standard lot frontage of 80' per house, a "good Appraiser" should be capable of approximately 825 Honest, reliable, reports an hour with this incredable software! Such a deal!

 

[Couch Potato]

If the Segway is the standard mode of transportation for Zaioiuns then given a top speed of 12.5 miles per hour and a standard lot frontage of 80' per house, a "good Appraiser" should be capable of approximately 825 Honest, reliable, reports an hour with this incredable software! Such a deal!

You are right. I grossly under estimated.

 

[Diego Lopez]

If the Segway is the standard mode of transportation for Zaioiuns then given a top speed of 12.5 miles per hour and a standard lot frontage of 80' per house, a "good Appraiser" should be capable of approximately 825 Honest, reliable, reports an hour with this incredable software! Such a deal!

I should be able to do 2 years worth of work in a day with this software/scooter combo.

 

[c w d]

I know better than to say this.....but you guys ought to think about not kicking someone when they're down. Whether or not Zaio is/was/will be a good investment, the folks that did invest took a chance. Give 'em a little respect will ya?

 

[woodyva]

All I can is say is that making that guy In northern Virginia Mad last year who tried his best to talk me into the benefits of the concept so that I would purchase a zone or 5, was worth the work. He started in on me at a conference and there were about 8 appraisers sitting at the table with me, by the end of 10 minutes he was getting crap from all of us. Everytime I asked him for a specific info he would give me part of the sales pitch I got from one of the higher ups in the ownership at the Mode convention in 07. Have to admit they were good at dodging any questions that requested specific examples, and turned it back into a sales pitch.

That is really the only downside to having been accepted to the Labs project. Zaio and IRR came knocking within 6 months of my starting the Labs.