Real Estate Maps can have either dots on a map (a mashup) or digitally display Big Data & Local Real Estate Growth Data. At Growth Maps and as an investor, what matters more is the latest local growth data information, based upon the local (Block Group and Census Tract) variables that have the highest influence on future real estate price changes (da).
Interestingly enough, still in 2017, no local growth data information in on any web-based real estate maps just property data, which only helps the sales people (agents) and not so much, the buyer or investor.
Real Estate Maps and the Investment of Real Estate
Let’s look at an example of driving a quarter-mile in every direction and seeing vast differences in property values, tax rates, appreciation/depreciation rates, unemployment, income growth, etc. Any real estate maps tool is ultimately deficient if it is unable to analyze and detect these specific trends down to the block level because this is where we all actually purchase property. You can’t purchase a town, county, state or a nation, right?
So why would you use a real estate maps tool that doesn’t provide you with local real estate market trends data down to the level where you will actually make the purchase?
There are a lot of real estate tools and services that will show you home values based upon comps, outdated or incomplete data. Some will even factor in economic, market and demographic data but only at the macro (MSA or County) levels.
This does not help an individual or company make a truly informed decision about specific properties. This data is only used for marketing and commercial real estate marketing.
This deficiency helps explain in part why so many homeowners are living in homes pay and paid too much! And why you, as a real estate professional, purchaser or seller, want to arm yourself with the best available information possible. At the core, real estate maps help an investor, in there and questioned whether their real estate maps provide any real value to users when trying to make a real-time decision.
Google Real Estate Map and things like Parcel Maps or a Realtor Map, miss the point.
But like information currently available from standard sources, these maps provide little to no practical value when making an actual decision on a specific property.
The ideal mapping application would need to do this:
Provide User-Defined Gradient Maps Real-Time Rendering Ability to Zoom Down to Block Level Maps
Provide Regular Updates and Illustrate the Most Relevant Data/Trends User-Defined Gradient Maps: User-defined is the user s ability to create a map based upon criteria that are relevant to the specific questions the user has about the property or area. For instance, a developer or builder may be looking for areas of future growth and want to see areas where job and income growth are highest. An investor looking at rental properties, on the other hand, would probably be more interested in vacancy rates.
Interactive Real Estate Maps with home values based upon comps and outdated info are a thing of the past. To be a valuable real estate tool, the map needs to be rendered based upon user-defined criteria, as this is the only way to provide users with the information needed to make specific decisions based upon individual circumstances and needs.
Even Commercial Property Maps with current local data overlays. Will better real estate maps and housing market forecast, the investment in real estate, is a click away.
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 /free-ebook/
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