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Home Value Tool based on Area Incomes - Check it out!


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2009 Oct 24, 10:00am   1,780 views  5 comments

by iggyman   ➕follow (0)   💰tip   ignore  

Hi everybody. For the last several months I've been working on a new home valuation tool based on neighborhood median incomes.  Instead of calculating the current market value, it estimates the maximum stable value for any property in a given neighborhood. I'm hoping to get some feedback, suggestions and maybe some help on it (this is the first time I've made it public) before I market it to heavily.

It still has a couple of bugs (I'm definitely not a coder but I did my best)...

  • the map geocoder on the results page suddenly quit on me a couple of days ago. Everything else still works - just enter an address and hit submit and it makes all of the calculations - but you have to drag the map and zoom to the property, then click on it, to see the neighborhood (census block group) boundaries.
  • The layout in Internet Explorer is a little off
  • It's on a shared server so it will probably be slow if it gets any amount of traffic.
  • I'm not sure that the 'Help' is clear enough for the average buyer

So, let know what you think. Thanks.

Comments 1 - 5 of 5        Search these comments

1   thomas.wong87   2009 Oct 24, 12:13pm  

Kudos to you and good luck,
I hope you get lots of interest and traffic directed to your site.

As far as causes under one of your tabs.
You need to highlight the 'lack of face to face negotiations during bidding" leaving abuse in blind multiple bidding as a factor.
If anyone feels we need market regulations at no cost to tax payer and simple revised industry practices to provide transparent pricing and eliminate fraudulent 'multiple offers", we can start with regulating real estate agent behavior.

2   iggyman   2009 Oct 26, 12:34am  

First, thanks for the comment and the interest. I agree that the bidding process in real estate is a problem - actually one of many problems with real estate agent behavior. Their incentive system is all wrong. There are far too many realtors getting 8% commissions for doing nothing more than posting property information in an MLS database (actually, their assistants do that.)

I focused on the causes that I did, in part because it's my area of expertise, but primarily because it's the changes in lending practices that allowed values to increase so dramatically in relation to income.

3   iggyman   2009 Oct 26, 5:22am  

Fixed the layout issues that were bugging me.

4   iggyman   2009 Oct 26, 10:09am  

Now the Geo-coder service for the Income info is down ... I won't be able to pull any values until tomorrow.

5   iggyman   2009 Oct 27, 2:43am  

Everything works! The value tool is back online!

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