Orlando, FL, January 12, 2017 --(PR.com
)-- Homequant, Inc. is pleased to announce the launch of Homeyada – its newest addition to the family of free home valuation systems. Homeyada is, however, different from its older siblings in that its valuation algorithm is based on the income approach, rather than the traditional comps-based market approach.
Its internal algorithm can be applied to a lone property or en masse to produce excellent “First/Quick Look” values – from mansions to median homes to the smaller ones – without having to enter any accounting data leading to the Net Operating Income or Cap Rates. All one needs to know is the sub-market the property is located in, an approximate living area and a few general property characteristics that can easily be gathered by searching the assessment roll online.
Homequant management believes that day is not too far off when more and more Americans will be renting homes from the fast-growing SFR Rental companies than the traditional mom and pop homeowners. Given this paradigm shift in home rental, Homequant foresees that the traditional comps-based home valuations are being replaced by the income-based methods.
As a pioneering innovator of property valuations, Homequant is again proving its vision by launching the trend-setting Homeyada, the one and only income-based solution, enticing all current and future homeowners to adapt to this new and fast-emerging way to value single family homes. Needless to say, with the introduction of Homeyada, the income approach is now permanently part and parcel of home valuations, perhaps on its way to downgrading the conventional comps-based method to the consumer level.
Their tests show a single family home, with the aforesaid data available, can be valued in 60 seconds or less. The introduction of the Homeyada makes it now possible to value an entire neighborhood in matter of hours, not days or months. Of course, their solution does more than just the typical neighborhoods; it’s equally equipped to value both ends of the size and value curve. Additionally, their algorithm automatically detects the oversized properties relative to the area and the market and adjusts for non-linearity in valuations.
Since the Homeyada solution works uniformly across all major markets, national investors, attorneys, hedge funds, mortgage REITs, appraisal management companies and research institutions will increasingly depend on their system as the first go-to system. It will immensely help potential investors get quick values from their system, thus narrowing their choices down to the finalists requiring professional appraisals. It will help real estate attorneys and consultants representing clients on assessment-related grievances as they can quickly evaluate the merit of each case, a priori.
The Homeyada solution is currently available in 40 major home markets, including Manhattan, Boston, Chicago, Cleveland, Dallas, DC, Las Vegas, Los Angeles, Miami, Minneapolis, Phoenix, Portland, San Francisco and Seattle. Many more markets, including Canada, will soon be added.
The Homeyada web portal is also mobile-friendly, thus negating the need for separate mobile apps. Therefore, their invention is productive to users, either way – whether one needs to value a single subject property on-the-go or one who needs to value a group of similar or dissimilar properties quickly on a desktop.
As usual, it’s totally free and no login or registration of any sort is required.
In a nutshell, the Homeyada solution will revolutionize the home valuation market by adding the income-based valuation piece to the fast-evolving home market. Moreover, the fact that the user-inputted subject data and the resulting valuations are not stored anywhere in their system and are processed via a leading 3rd party hosting company will provide high level of confidence and relief to the users, considering that their activities are not being watched, nor are their values secretly warehoused.
The President of Homequant, Inc. recently explained this addition to their product suite, “With the launch of the Homeyada home valuation, we are presenting our forward-looking case to the market. As usual, we continue to show the valuation world how to achieve more with less. For instance, unlike the competition, we do not store the subject population data; instead, we let our users simulate their subjects considering that they know their subjects the best. Anyway, as we add more markets to our repertoire, I have no doubt that professionals around the world will consider Homeyada as the system of tomorrow.”
For more information about their custom applications, or to schedule a phone interview, please email them at: Homequant@gmail.com.