Is anyone cooking with gas when it comes to real estate maps and real estate map search? I wonder. From what I can tell, just simple flat files with real estate mapping technology that show simple snap shots or images of what is today. Like knowing what IS all there IS and what affects local markets and local conditions or the core variables that influence change are a part of the Twilight Zone and elusive. You can know present value or appraised value based upon comps but does this really affect risk and give you enough information and knowledge and proper risk assessment to make a purchase?
If so, then go buy 2,000 or the 5,000,000 listed homes with appraisals and tell me a few years, how that worked out. What IS way less than half the picture, what matters is current local real estate information? Is a simple Real Estate Map Search from Zillow Maps Real Estate or Yahoo! Real Estate Maps enough to find a hot local market and investment?
Let me know. Real estate maps and so Where’s the Beef?
So where is the beef, where the core missing data is, and which website has it?
A complex question, and not a simple answer. There are over 100 data vendors that sell data to businesses, most of them are B2B, and prices range from $1,000/year to over $100,000/year. And to find these vendors you need to go beyond just simple real estate vendors who typically just dump this data or deliver it in a non-usable format for user-defined real estate maps. I invested over $400,000 in buying and testing data, so not easy to figure it out.
Easiest way is to just purchase them all and test. Or get Growth Maps which has most of the core variables or real estate map search technology that blends local census block group growth and property data search.
The core variables that typically influence real estate prices in the future are prices, job growth, population & migration changes, and local economic and demographic changes in the Block and Zip Code levels. And it has always been pretty darn surprising to me, that no agent/broker has access to these datasets.
Are not they the professionals that represent real estate buyers and real estate investors? Hopefully with enough people knowing what I know, things will change. With better local real estate map search, the investment in real estate, is a click away. For more information, download your FREE eBook titled: “What’s Next for Commercial Real Estate Technology: Leveraging Technology and Local Analytics to Grow Your Commercial Real Estate Business”
Your comments are most welcome, and I appreciate your feedback.