My idea aims to take the guesswork out of buying real estate. Using MLS data, a location based graph system and various analytic algorithms, I intend to build a real estate valuation projection service that provides users with access to helpful but currently unavailable information regarding prospective purchases. The two primary functions will be to visually represent the current growth rate (in terms of unit prices) of an area on a map and also to chart an individual addresses historic pricing and rate of change which will allow buyers to make informed decisions.
Example: Bob’s interested in buying a home and finds two listings that suit him, each in different neighborhoods, and wants to pick the one likeliest to yield a larger return on investment. Currently, Bob can ask his realtor to look up past listing in the area to “get an idea” of how prices have been trending or rely on past/anecdotal references from various sources regarding each neighbourhoods growth and potential. Or, using my service, Bob can look up each listing and see on a real-time map which area is currently experiencing a greater rate of change in housing prices and also compare each listings historical summary.
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