MIAMI FL—(Marketwired – Jun 26, 2015) – With the help of a new generation of hyper–local digital maps built on the most massive database of house–specific pricing data ever assembled, homeowners and home buyers can see for themselves how home values along the streets where they live are changing, Weiss Residential Research LLC announced today.
At the annual meeting of the National Association of Real Estate Editors, Allan Weiss, founder/CEO of Weiss Residential Research LLC and a co–founder and former CEO of Case Shiller Weiss, announced that color static and dynamic Weiss Maps of 100 metros and more than 5000 ZIP codes are now available free to newspapers and real estate news sites to publish in print and on their Web sites. Static Weiss Maps portray price trends for a single month; dynamic Weiss Maps are videos showing monthly changes in values over time. Both formats are updated monthly with the latest pricing data from the Weiss Index. Weiss Maps are available for the current month, forecasted values for each of the next 12 months to come and historic values as far back as 1998.
Homeowners, home buyers, investors and real estate professionals can access Weiss Maps at two websites, Owners.com and WeissIndex.com. Newspapers and periodicals interested in carrying the Weiss Maps should contact Steve Cook at 202 257 3652 or scook@commsconsulting.com.
Weiss Maps convert data from the Weiss Index into visual displays of nearly 100 million homes, utilizing big data techniques and novel algorithms to create individual repeat sales indexes for each home with the same accuracy that the Case Shiller indexes created for entire markets. The individual Weiss Indexes make it possible to measure individual home value trends precisely and perform geo–trend analysis to create home price Weiss Forecasts of ground–breaking accuracy.
“Until now, consumers and real estate professionals have had to settle for median and average price estimates that fail to take into the consideration the differences between individual home values and the different rates at which they appreciate, which can be significant. Weiss maps are the first real estate maps to be based on individual home values instead of averages or medians. Instead of settling for estimated prices averaged from hundreds or thousands of homes, now consumers can actually see values changing on the streets where they live,” said Allan Weiss.
Unlike any other home pricing tool, the maps show trends in the pricing of how home values are changing. The direction of individual home values change slowly, so knowing the direction that prices are headed and the rate of change can help consumers anticipate values in the near future.
“Weiss Residential maps are one of the most important tools ever invented to empower consumers with accurate and timely information on changing home values at the local level. They take the guesswork out of valuing the greatest asset most families own just as weather maps take the guesswork out of planning your day. Whether pricing to sell, making in an offer to buy, buying an investment property, refinancing or valuing properties for an estate, these maps help consumers anticipate market trends up to 12 months in the future,” said Weiss.
“Knowledge is power, especially when it comes to buying or selling a home. For too long, consumers have been flying blind relative to past and future property value trends. These maps let consumers visualize neighborhood valuation trends so they can make well–informed, data–driven decisions,” said Steve Udelson, President of Owners.com.
About Weiss Residential Research
Weiss Residential Research LLC produces uniquely granular home price indexes and indexed property valuations for use in investment decisions, portfolio management and modeling engines. WRR analytics are created through the use of big data techniques, novel algorithms and by harnessing massively parallel computing power.
To find out more about Weiss Residential and for a demonstration of our solutions, visit: http://www.weissindex.com.
About Owners.com®
Owners.com is a top 10 real estate brokerage that provides self–directed consumers with a full menu of real estate services to choose from. Owners.com makes real estate transactions more affordable for consumers because they only pay for the services they need. Founded in 1996, Owners.com has helped over 400,000 consumers sell and buy homes and save nearly $2 billion in selling expenses. Owners.com is part of the Altisource Portfolio solutions S.A. family of business. Additional information is available at http://owners.com/, www.facebook.com/ownerscom and https://twitter.com/ownersdotcom.
About Altisource®
Altisource Portfolio Solutions S.A. is a premier marketplace and transaction provider for the real estate, mortgage and consumer–debt industries. Altisource's proprietary business processes, vendor and electronic payment management software and behavioral science–based analytics improve outcomes for marketplace participants. Altisource has been named to Fortune's fastest growing global companies two years in a row. Additional information is available at www.Altisource.com.