Tuesday, January 6, 2015

Why Homequant is The Most Accurate Free Home Valuation System, Today!

Traditionally, appraisers use comparable sales to value actual subject properties (having real house addresses with real property characteristics). The high costs of maintaining the subject population often gets reflected in less-than-adequate maintenance of the ever-changing sales population, thus producing obsolete comparable sales ("comps") and, in turn, outdated subject valuations.

Homequant solution demonstrates that a User-defined subject serves as good a purpose as an actual subject property, freeing up the hefty costs of maintaining the subject population. 

Homequant system, www.Homequant.com, is therefore predicated upon empowering users with a sophisticated yet easy-to-use methodology to define subjects, an up-to-date sales database, and an advanced comps matching and scoring tool so that the users can meaningfully undertake a series of experiments, on-the-fly, to arrive at their own value conclusions.

In fact, in the process of defining their subjects, users are essentially researching and duplicating actual subjects in their experimentation, without blindly relying on the often-outdated subjects data from public records.

Additionally, unlike an institutional client, an average home buyer – in Free Home Valuation industry where Homequant is positioned – is generally interested in valuing a handful of subject properties so researching and capturing such data tend to further motivate Homeuquant users.

Unquestionably, given the anemic health of most taxing jurisdictions nowadays and the falling tax base, subject populations are nowhere as up-to-date as they used to be in earlier years. In fact, the lack of field inspections by the assessing staff results in significant delays in the capture and inputting of the physical changes in the assessment system. Therefore, when a potential buyer or an investor depends on such subject data, the resulting valuations are generally less-than-perfect, to say the least. Alternatively, when a targeted subject is individually researched, inspected and manually entered by users – as is the case in Homequant system – the resulting valuation becomes significantly more reliable.

The housing population consists of the (unsold) subject population and the sold population. Since only the most recent (one to two years) arms-length sales could be used as comps to value subjects, the general split between the subject population and the comp population is 95% and 5%. 

Considering that the Homequant system accurately functions off 5% of the population, it does not succumb to the data logistics, nor does it require a fortune in terms of investment in acquiring and maintaining the data, allowing Homequant developers to remain focused on updating the sales data and enhancing the technology to keep visitors enticed. 

The President of Homequant recently explained the invention: “There are roughly 90 million single family homes in the US and, on average, 5% of that universe annually sells. By inventing the concept of the user-defined subjects, we are able to value those 95% unsold properties by storing only the 5% sold data. The home valuation industry will soon recognize the significance of our invention.”

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