Sunday, July 19, 2015

Homequant Announces Launch of LocValu Portal - Location Quantified En Masse

PRESS RELEASE
http://www.pr.com/press-release/629362


Homequant is pleased to announce the launch of LocValu.com (URL http://locvalu.com/) – a portal pre-populated with market-derived fixed location values for the major markets – to help consumers understand the relative differences in values brought about by virtue of variations in location alone. Currently, their fixed locations represent Zip Codes within a market area, though they plan on adding Census Tracts, shortly, as an alternative value node. Since the LocValu portal provides a generic solution, it will be extremely useful for individuals and businesses alike.

Here is how the LocValu portal will help consumers: If Zip Code X shows a median location value of 2.56 while a contiguous Zip Code Y carries 1.32, a potential homeowner would instantly know that the location value alone could make comparable homes in X significantly pricier than those in Y. Likewise, a potential storefront renter is expected to pay a much higher rent in X than in Y, while a multi-family developer would be willing to pay a higher price for a comparable parcel of land in X than in Y – all owing to the higher value of location alone.

Since these Zip Codes have been assigned statistically significant and market-adjusted location values, consumers will more comfortably accept them as their mutual “choice” of price differentials than the heuristic or opinion-based counterparts without a scientific base.     

In terms of the potential use by consumers, the possibilities are numerous. Homebuyers can re-price comps (without having to recollect new comps from the other Zip Codes of interest); tenants can re-price rents; apartment, office and retail management companies can readjust rents; home developers can market-adjust prices; reo-to-rental companies can verify portfolio prices; loan officers can (apply these location values to generic costs) to develop “first look” values; hospitality chains can validate room rents; insurances can verify rates, to name a few.  
    
Once a user selects a market, the map of the market will appear, with Zip Codes highlighted in Red. By clicking on a Zip Code user can see its median location value. A range is also provided to highlight the level of diversity within the Zip Code. Contiguous or a set of Zip Code values may be viewed by opening them up simultaneously. Alternatively, a specific Zip Code value may be sought via the Zip Code box provided.

In order to view the color-coded heat map, the Zip Code boundaries must be turned on. The navigation mechanism, however, remains the same with or without the boundaries being on. A 3D surface chart is also provided to offer a consolidated view of the entire market, elegantly displaying the locations of the peaks, troughs, plateaus and everything in between.           

A Flash Demo is provided to help with navigation while the Help screen addresses the conceptual as well as navigational issues at length. Of course, everything is still in plain English, presented in an easy-to-understand format, without the usual geographic jargon. And it’s all free and requires no registration or login whatsoever.

People on-the-go will find LocValu Mobile Apps – coming soon – extremely useful. Download links will be available on the LocValu site.

The President of Homequant recently explained the importance of adding the LocValu portal to their product suite: “Quantification of the major markets en masse is simply unheard of. By doing so, we are switching from an opinion-based valuation to a truly research-based quantitative system. I have no doubt that it will immensely help both individuals and businesses alike in understanding the quantitative differences amongst competing fixed locations. Of course, for those who need more insight into specific neighborhoods, our Town Analyst portal is always there.”

If you’d like more information about their websites, or to schedule an interview, please email Homequant at:
contact@homequant.com

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