Real Estate Growth – Real Estate Information and having the best is critical to investors. Real Estate Information and the reliance on flawed data needs to be fixed. Today, in 2017, no real estate investor or professional has access to the latest local real estate growth. Lack of Relevant, Accurate, and Reliable Information the Missing Factor X. What has not been addressed in the current state of affairs is the incredibly valuable information outlined in my Free EBooks.
Not only will I explain what that missing factor is, I have a magic tool that provides you with a solution to it. What Real Estate Information is missing and Why It Is Important. While some may wish to cite predatory lending as the only culprit, or banks, or other rules of the “game”, the fact is there was and is another big and HUGE contributor.
Lenders, regardless of their intent, had a hidden handicap with respect to value and price movement in the real estate industry. That handicap was incomplete and/or inaccurate information.
You can find some Real Estate Information Services and Real Estate Information Network, even Public Information Real Estate Transactions, but where do you get answers to local ;Real Estate Questions? What are the leading economic indicators in your city block that changed last month? What are the top 10 factors that affect future price changes in your and the surrounding 10 Zip Codes? What are the factors that affect local real estate market trends?
Most Free Public Records Information or even Forbes Real Estate does not have the critical local real estate information.
An important question to ask is this:
Why would a lender want to underwrite a mortgage exceeding the true value of the property? Business is driven by profit and lenders are no exception. For lenders, there is one undisputed fact: Foreclosures are very rarely profitable, since there was no real estate growth.
If a foreclosure occurs seven years or more into a mortgage and if home prices have appreciated faster than inflation then perhaps a lender will profit from a foreclosure. However, when home prices are falling, vacant properties number 18 million plus, and a glut of subprime foreclosures are about to flood the market lenders can only lose money.
Lenders and investors do not make money on foreclosures. Losses range from 20 cents to 60 cents on the dollar. Lenders typically lose $50,000 or more on one foreclosure. Craig Focardi, CMB, Research Director In its most recent report, the Joint Economic Committee estimated that another 1.3 million homes will be added to the inventory due to foreclosures. One foreclosure can result in as much as an additional $220,000 in reduced property value and home equity for nearby homes. .
While there were definite egregious practices in the lending industry, reputable lenders were hampered by a lack of real-time information that was reliable, accurate and relevant. You may also be interested in how Growth Maps stacks up, and here is a good image that shows why we are different.
Too many mortgages were written after the facts clearly demonstrated that supply far exceeded true demand. Truth be told, it will likely be the lending industry that loses the most here. Loan after loan was written based on overvalued properties in a declining market because lenders didn’t have access to information that gave them true value or accurately predicted price movement.
For more information, watch our free demo video on our homepage, and 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” at https://www.growth-maps.com/free-ebook/
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