Crazy unique high value-add real estate market data idea…. Every savvy real estate investors knows that having access to the most current real estate market data IS important and at least intuitively knows that these changes are what forces change in value of land and improved assets, when it comes to real estate appreciation.
The building value does not typically change, so what matters are the variables that do and WILL affect the future real estate prices of land. Land is displayed by Parcel Maps and can be also displayed at the Block, Track, Zip Code, and higher boundary levels.
Core local real estate information is key.
Crazy Idea to Display Local Changes on Real Estate Market Data
I came up with this crazy idea to display local information years ago, since even with the data in MySQL database, and custom queries, I could not make sense of the data. And our predictive model, or 24-month housing market forecasts, told me that many factors were interrelated. The national forecast and variables have and influence on the city variables and these had an influence on the Zip Code and Block Group variables.
And the past months changes had some influence as well. One reason what it is pretty darn hard to build an accurate predictive model and display this information in real estate maps. Crazy huh? You won’t see this kind of critical local data at Zillow Maps Real Estate or Google Real Estate Map since even today, the core data is not on the web and cannot dump into some form or mashup type maps.
Where we are going with this and real estate market data.
What is cooking and new in the real estate maps industry?
Like any new disruptive and innovative real estate maps SaaS technology, what matter is the ingredients. Without good ingredients a startup might just cook up some same-old-same-old technology that just has a new face or interface on the existing mix of free IDX type real estate data.
But what if there were new data and variables brought into the mix? What new technology would be possible? It case you are wondering, is was not until AFTER, I had purchase many no-money-done ingredients, read every real estate book, got licensed in 5 states, got my MBA in real estate finance, and over 5 years in banking, that I discovered the missing ingredients of real estate.
Since I wanted to know what was going on, and my PhD friends and I could not develop a local housing market forecasting model worth a darn with just free property data. No wonder why most people are still semi-clueless as to local data and critical local real estate market data information.
So what are the ingredients to a quality real estate maps and predictive model? Look for my next posts, and launch soon, so you can finally find the answers you need.
Looking forward, Eddie G