“Our patent-pending DealSpotter technology scours property data and housing trends from over one million for-sale properties in 50 metro areas throughout the US in order to identify the best deals in each local market.”
SpotProperty, the brainchild of Internet real estate firm Movoto, was unveiled this morning, officially becoming the world’s very first daily deal website for homes. SpotProperty is an online virtual brokerage that locates great home values and delivers the deals straight to the user’s inbox.
“In the past several years, we’ve heard from homebuyers that while they enjoy the access to data Movoto and similar real estate sites offer, they can be overwhelmed by charts, graphs, and acronyms. When we investigated further, we found what homebuyers wanted was to know if they were making sound financial decisions–especially when making one of the largest, if not the largest, investment of their lives,” their website states.
How it works:
SpotProperty will ‘spot property’ for you, by scouring housing trends and data from over one-million for sale properties in over 50 metro areas. The user will receive an email daily, consisting of recently listed property that matches their search criteria. The service is free of charge.
“It’s not magic, though it might seem like it. SpotProperty analyzes millions of home data records to find the best deals in an area and then sends users an email that features the home,” they explain. “If you’re interested in the home, we will connect you with a local agent who can answer your housing questions.”
How they determine a deal:
SpotProperty identifies a deal, as a low-priced home either in short sale, foreclosure, or quick sale, generally priced a 10-20% below the current market value. The website analyzes records from nearly five million sold homes in order to determine the best deals of the market. A Movoto real estate agent is provided to the user when he is or she is ready to view the home. This concept should save the homebuyer thousands of dollars in payments.
“Over 40 million people in the United States have used some type of daily deal site, so this concept is well understood,” said SpotProperty co-founder Henry Shao. “Americans love deals, and there are more home deals in the housing market now than ever before. SpotProperty is a fun and easy way to discover great home deals around you.”