Owning a “Dream Home” is one of the consummations that tops nearly everyone’s wish list. Once you decide to start the chase for your dream home, you have to make a choice of whether you prefer a modernized urban loft or a sprawling suburban home based on your family requirements. Most of us wish to find a home at the best price within the required locality, which will make your family feel like it was specifically, made for them. However, searching for your dream home comes with different considerations other than any other real estate purchase.
This is where we, Cognub comes into the picture, to help you make this complex decision easier by adopting cognitive computing. Cognub will tread you through the listing data matrix and support you with intelligent insights to zero in for a property that will keep you and your family happy for the foreseeable future.
Cognub offers you a creative visualization of these insights through our innovative and interactive decision making platform called Propmix. The user interface design is simple, efficient and engaging. If you want to calculate the estimated price of a property; just input few basic parameters like the address, zip code, property type and radius in miles for considering properties within the stipulated range into the drop-down menu. Our decision platform will consume these parameters and provide you with indicative property details, which includes estimated price, image of the property, sq feet area etc along with the demographic profile of the area. Similarly if you want to estimate the fair market value of your home all you need is to feed in the specific parameters of the subject property like total living area, number of bedrooms, number of parking, etc along with the generic ones into our comparative market analysis insight. This will return you an array of matching property estimate’s taking into account recent and pending sales as well as current listings. Whereas in price trends you can input a particular zip code and property type parameters to generate a price trend graph of the similar properties types with time period break up of three months to five years. Further details of the insights are listed below
The Insights currently in the offering are:
iEstimate home value is the estimated market value for an individual home and is calculated for million homes nationwide. It’s computed using a proprietary formula taking into account special features, location, and market conditions of the property based on the critical field analysis.
Property data from listings are pulled into Cognub big data analytics platform. The Critical Field Analysis method and filtration data techniques are used to identify the critical fields impacting the price component. Analytical algorithms and ensemble learning method is deployed for building the model which predicts the property price based on the past experience. The model considers the extrapolated closed price based on the price trend in the respective zip code for similar property types.
Using comparables, it’s an analysis done by the real estate agents to establish a home’s fair market value. We evaluate similar, recently sold homes based on different parameters like size(area-price per square foot), condition, location ,age and style. Based on these inputs we implement complex statistical analysis, to generate a list of matching properties in the nearby radius and to find the best comparable property based on the different status type . A list of recently closed similar properties is used for predicting the market value of the subject property.
We provide you with the price trend of properties of similar types in a particular zip code for a time period, this insight will help you to keep an track of your property value across the time. These price trends are visualized in the form of graphs and it provides us with the price trends for the past three months, six months, one year, three years and five years. It also displays additional information like volume of transactions and similar statistics for a zip code .The comparison also lets you see the highest and lowest prices, apart from the average price.
We leverage our expertise in the big data tools, reliable cloud environment and cognitive computing to roll out the best and robust Real Estate Analytics Solutions in the market.
Upcoming insights -iRecommend, iReputation, iLeads, iMarketComp, iHomeValue, iLinkedValue, iPropensityBuySell.