Point Acquisitions prides itself on being data driven and leveraging technology to find opportunities in Philadelphia and surrounding markets. We thought it would make sense to discuss this topic in a little more detail as it’s imperative to be leveraging both technology and data in today’s real estate market.
The real estate market of the 2010s is almost unrecognizable to an investor who had his or her heyday twenty years ago. The heavy use of the internet and mobile apps has radically changed the way the market works, allowing transactions to move at speeds that are often terrifying to new investors. There are, however, ways that buyers, sellers and investors can leverage technology to make the modern market work for them. Below are just a few of the ways that technology can prove beneficial to anyone dealing with real estate.
The internet has become a great equalizer in the search for property value. Once upon a time, it took a specialist to figure out where and when new properties would come available as well as what the comparable home sales in the area might have brought in. Today, though, these processes take only a few clicks.
Finding a property for sale is as easy as logging on to any real estate website. Those looking for properties for sale by owner can have a great deal of success on sites like Craigslist or searching for foreclosures on Auction.com.
Homeowners can do their own homework to find out the value of houses in the area on sites like Zillow or Trulia. While the overall accuracy of those sites is in question, they still give homeowners a baseline from which they can work.
Understanding Value and Growth
Of course, just finding property values is just a small part of starting a real estate investing journey. Those serious about selling their home or buying a new property must also leverage technology to understand the potential of their property. The tools listed above are great for figuring out what can happen with a property in the short term, but there are other tools that are more useful for long term planning.
Investors, for example, have a great friend in products like Billguard, which can help them to track their spending and keep them apprised of their credit score. Other simple tools, like Credit Karma can help investors keep track of their credit scores and make sure they’re eligible for future loans.
There are also great tools like those found at Mashvisor which can help investors and owners track the growth potential of property. These tools can make a huge difference in determining whether to sell a property or rent it out, or whether an investor should double down on a specific area in order reap future profits. Access to analytics can change the way real estate works for everyone.
Technology has changed the way the real estate market works. Despite this, it’s still important to remember that real estate investing still has some very real financial dangers. Before you start using these tools to determine your next step, make sure to talk to a Real Estate professional. He or she can give you the guidance you need in order to make the most of these tools and to participate more intelligently in the real estate market.
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