Where is Your Real Estate Market Going? Cyberhomes Market Forecast Can Help!
By NikNik · June 1, 2009
How well can you predict what’s going to happen in your real estate market? Being a real estate professional, you probably get asked this very question almost daily. And your expertise and experience assist you greatly in answering with authority and credibility. But what if you had access to over 40 million loans, in conjunction with 100 million property, ownership, and sales records nationwide? Well, then you would be Cyberhomes Market Forecast!
You don’t really require all that data to forecast where your local market is going. But now you do have access to the crucial data that affects and shapes where your real estate market is headed.
Cyberhomes Real Estate Market Forecast, the first report that gives you a comprehensive tool to help predict future real estate trends in a local market by analyzing key information – including credit information, loan repayment data, delinquencies and foreclosures.
Market Forecast is available for millions of properties and thousands of neighborhoods around the United States. Anyone can simply search for a property address or neighborhood on the Cyberhomes Web site, and Cyberhomes will show them whether their market is expected to increase in value, decline in value or remain neutral over the next year, based on the data used.
This type of predictory report can help YOU (the real estate pro) by providing you with information about bank discount rates, loan performance over time, and future inventory. It can also help you to better assist your clients, as well as guide you in making crucial business decisions.
To get started, visit Cyberhomes and enter the property address that you’d like a Market Forecast for. There are 2 types of Market Forecast Reports available:
(1) Summary Report for a special introductory price of only $3.99, and includes:
- Overview of the local market direction
- Historical and future projections of distressed, foreclosure and REO properties in the area
- Estimated change in value for the neighborhood and the subject property over 12 months
- Detailed loan and assessment information, including assessor market value, the loan-to-value ratio, tax delinquency status and more
(2) Full Report for those seeking professional-level, rich analysis, a full-scale report showing all of the details will be available for an introductory price of $9.99, and includes:
- A 24-month value forecast
- Local foreclosure trends and timelines
- Mortgage delinquency and loan deterioration trends
- Historical median sales price vs. volume trends
- Neighborhood lending and sales statistics
- Average area credit scores
- Local percentages of distressed homes compared to state and national levels
- Average local discounts on bank-owned properties
- Risk from exotic loan types in the neighborhood and more
For more information about this report, Marty Frame provides an overview in this video tutorial.
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I think Cyberhomes over complicates things. Real estate market strength over the long term is heavily correlated to the market’s population growth. It is also a matter of supply and demand. If you want to know where the real estate market is going, check out ListingSupply.com, “Real Estate’s Only Leading Indicator.”
Thanks for your comment and perspective “Tom”. The reports that Cyberhomes provides are based on loan repayment information. And if you didn’t know already, Cyberhomes has access to 40 million loans & over 100 million property records. This data brings consumers and agents information about what’s actually happening with the loans in their local market area and makes predictions based on this data. I don’t really see how that’s complicating things. Have you taken the time to check out the reports?! Just curious.
BTW- Never been to listingsupply.com, “Real Estate’s Only Leading Indicator.” Looks like their user interface could use some help. Where do they get their data? I don’t have much respect for a site that doesn’t source their data….seems like a screen scraper to me!
wow. do we know where the info comes from? how credible it is? I haven’t watched the video yet but will.
I listened to you both on blog radio today (#jckc). Learned a lot and was trying to impress my broker/owner with market forecast.. Have tried to view the video, but am having trouble downloading it. How long should it take to download?
@Kenny – Yes, the data comes from a very unique database that LPS (Cyberhomes parent company) has setup. It’s built from loan data, foreclosures and defaults. As for how credible, they are the #1 player in their space and banks have turned to them for the same information.
@Patty – I’m so glad you enjoyed the radio show. I’ll take a peak at the video and see what i can do. Give me the evening…I’ll have it streaming better.
I thought the post made some good points on screen scrapers, For simple stuff i use python to screen scrape, but for larger projects i used extractingdata.com http://www.extractingdata.com/screen%20scraper.htm which worked great, they build custom screen scrapers and data extracting programs