Zillow.com was recently opened up by Expedia (DOT COM!) founder Richard Barton who wants to quickly gain ground in the competitive U.S. property business. The Zillow website is a user generated content site similar in concept to MySpace.

Homeowners and real estate agents alike can use the website to upload properties, photos, descriptions, and improvements along selling prices. The Financial times reports that Zillow will combine elements from Myspace, Wikipedia, and Craigstlist.

Currently, Zillow has 3.5 million members but the site still faces competition from Move.com and other similar concept websites.