ForeclosureRadar.com - like Zillow with vertical market research utility
ForeclosureRadar's new UI mashes up foreclosure data parsed by properties in the various stages of default - Notice of Default, in auction, or bank-owned - plus Zillow estimates all in a Google Map. Maps are the perfect way to display foreclosure data that tend to clump in neighborhoods.
Seeing ForeclosureRadar's maps, I realize Fidelity's Cyberhomes and Zillow could develop vertical products for foreclosures, new home developments, and maps that identify mortgage seasoning (years since last financing) and loan-to-value ratios. Then, real estate professionals can really mine these data... for example:
- Mortgage brokers can farm
neighborhoods and tract developments that have histories of financing
or refinancing in 2003 and whose occupants will require new loans when their 5 year
ARMs are due to readjust within the next year.
- Investors or short sale experts can identify neighborhoods with high loan-to-value ratios that are ripe for default.
- Offer subscription services for
online farming, complete with marketing company partnerships to execute
mailing and flyer distribution campaigns.
Technorati Tags: zillow, cyberhomes, foreclosureradar, foreclosures, defaults, subprime, mashup
It's not exactly like Zillow. They require a credit card number for the free 3 day trial.
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