Property Information Data
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Big Data has had a major impact on the way that the real estate sector is viewed, acted upon and conducted in the current era. With a multitude of online and offline Big Data sources that are available, real estate professionals and investors now have access to more comprehensive and detailed data than ever before. Data such as Geolocation Data, Real Estate Data, Risk Data and others have amplified the already present advantage of having an in-depth understanding of the market, allowing savvy professionals to more accurately assess potential deals and investment opportunities.
Geolocation data is essential for any real estate professional or investor. Detailed information such as longitude and latitude, elevation, place names and surrounding neighborhood such as local schools, shops, parks, crime ratings and much more are all easily retrievable. Through geolocation data, professionals and investors can gain a comprehensive understanding of the area the property or structure is located in, prior to any sort of physical inspection or assessment of the property. This can dramatically increase the efficiency of the assessment process and provide a much better and more balanced view of the target property’s market value and position.
Real estate data should be sought out by any serious professional or investor that wishes to make an informed decision with regards to an investment or potential sale. Utilizing real estate data helps to provide a more detailed understanding of the current state of the property market. For example, detailed insights into home values, foreclosure rates, time on market, and other key statistics can help to provide an up-to-date and accurate valuation of any area.
Risk data is also of paramount importance in the field of real estate. Risk data helps bring to light any potential threats posed to the property that a buyer or investor may not usually consider. Looking into such documents as flood plain maps, groundwater issues and ASBESTOS reports is an essential step in the assessment process, and not doing so can be an extremely costly mistake. With an understanding of this data, buyers, sellers and investors can make more sound and informed decisions.
Finally, having a unique identifier for a property is an invaluable asset in the market, providing a reliable and tangible form of documentation. Often referred to as APN (Assessors Parcel Number), these identifiers are often assigned to the individuals responsible for a particular parcel of land, and are commonly used in the assessors office among other government bodies. These can help to provide clarity to an otherwise complex process, allowing buyers and sellers to easily assess a property from any locality.
In conclusion, Big Data has been a major catalyst for increasing transparency in the real estate market. The combination of Geolocation Data, Real Estate Data, Risk Data and APN’s provides a comprehensive and unparalleled means for professionals and investors to make more accurate, measured and rational decisions with regards to the properties they purchase and sell. With such an edge, the real estate sector can be handled with more certainty and accuracy than ever before.
Geolocation data is essential for any real estate professional or investor. Detailed information such as longitude and latitude, elevation, place names and surrounding neighborhood such as local schools, shops, parks, crime ratings and much more are all easily retrievable. Through geolocation data, professionals and investors can gain a comprehensive understanding of the area the property or structure is located in, prior to any sort of physical inspection or assessment of the property. This can dramatically increase the efficiency of the assessment process and provide a much better and more balanced view of the target property’s market value and position.
Real estate data should be sought out by any serious professional or investor that wishes to make an informed decision with regards to an investment or potential sale. Utilizing real estate data helps to provide a more detailed understanding of the current state of the property market. For example, detailed insights into home values, foreclosure rates, time on market, and other key statistics can help to provide an up-to-date and accurate valuation of any area.
Risk data is also of paramount importance in the field of real estate. Risk data helps bring to light any potential threats posed to the property that a buyer or investor may not usually consider. Looking into such documents as flood plain maps, groundwater issues and ASBESTOS reports is an essential step in the assessment process, and not doing so can be an extremely costly mistake. With an understanding of this data, buyers, sellers and investors can make more sound and informed decisions.
Finally, having a unique identifier for a property is an invaluable asset in the market, providing a reliable and tangible form of documentation. Often referred to as APN (Assessors Parcel Number), these identifiers are often assigned to the individuals responsible for a particular parcel of land, and are commonly used in the assessors office among other government bodies. These can help to provide clarity to an otherwise complex process, allowing buyers and sellers to easily assess a property from any locality.
In conclusion, Big Data has been a major catalyst for increasing transparency in the real estate market. The combination of Geolocation Data, Real Estate Data, Risk Data and APN’s provides a comprehensive and unparalleled means for professionals and investors to make more accurate, measured and rational decisions with regards to the properties they purchase and sell. With such an edge, the real estate sector can be handled with more certainty and accuracy than ever before.
