5 Reasons to Invest in Reliable Data Sources Before Investing in a Property

Author | Data Enhancement, Data Enrichment, Property Data | , , , , , ,

Never judge a book by its cover – or in this case, never invest in a property based off a picture! From investors, to lenders, to real estate professionals and insurance agents, the details in any property project determine whether you or your client will find either success or ruin in a property venture. Big data translates to big insight when used properly and that applies to property hunting today more than ever before.

  1. Knowing Property Aspects Prepares you for Negotiations

Confidence is key in negotiating – and confidence comes from knowledge! Gain the upper hand in your negotiations by being prepared with all the knowledge you need to fine-tune your negotiation strategy. With all the history of the property at your fingertips, as well as specific aspects of the physical property itself, make informed negotiation points on criteria like sale price, appliances, risk score, pending inspections and much more.

  1. Make Informed Decisions about a Property’s True Potential

It’s easy to have high expectations and idealize what a property has potential to become (Hey, we’ve all been fascinated by the miracles on HGTV at least once in our lives. Am I right?) However, high risk does not always yield high reward. Be your own best researcher and gain the knowledge you need about your property’s past, which can lead to informed decisions about its future. Information on appraised land, value, improvement and market will all help to inform you of your property’s potential.

  1. Physical Elements of a Property Directly Impact Profits

Learn about your property’s physical elements before-hand to better prepare yourself for deeper investigation upon inspection. From plumbing fixtures to topographical code, understand exactly what to expect before even stepping foot on the property. All of the physical attributes of the target property will determine your investment decisions, including building information like year built, number of bedrooms and baths, utilities, etc. Plus, land info.

  1. Easily Compare Between Properties

Having all this data at your fingertips, comparing properties couldn’t be easier. The differences, benefits and risks between potential investments become more and more clear with better utilized data. Know exactly how to prepare yourself or your client for the buying process as well as any future plans and potential for each property.

  1. Capitalize on Market Opportunities

Keep an eye on attractive properties that you think will lead to big profits or begin to hone in on your client’s dream home. With all the data already in your in-house records, searching for properties with specific attributes becomes a breeze, so you can strike an opportunity while the iron’s hot to beat the competition.

The most difficult and most important part of any professional research is knowing whether the information you trust to power your decisions is reliable. With countless sources of information across the Internet, how is one to be sure? One reliable option is Melissa’s Property Data solution which provides all the above-mentioned property elements as well as nearly 400 more. Explore all these property elements for more than 140 million U.S. properties.

Inquire with Melissa today to power your data-driven decision-making tomorrow! Call 1-800-MELISSA or visit Melissa.com.

Making Data Work for Your Geospatial Challenges

Blog Administrator | Data Enhancement, Data Enrichment, Geocoding, hazard data, Hazard Hub, IP Location, Location Intelligence, Marketing, Property Data | , , , , , , , , , , , ,

Anyone who has looked at flood data knows that FEMA is not the answer. It’s not that FEMA doesn’t try to accurately map what they believe to be floodable areas. It’s that FEMA is politically driven. As a city, you do not have to participate in FEMA mapping. Why would you not participate? Well, properties in flood zones tend to have lower valuations, and lower valuations tend to generate lower taxes. Even as an individual you can exempt yourself with a LOMA. A LOMA establishes a property’s location in relation to the Special Flood Hazard Area (SFHA). LOMAs are usually issued because a property has been inadvertently mapped as being in the floodplain, but it is actually on natural high ground above the base flood elevation.

Melissa customer wanted to sell flood insurance to prospects that were in flood zones but not likely to flood and not in flood zones but likely to flood. They had three primary targets, properties in 100 year flood zones that were not likely to flood, properties in a 500 year flood zone that were not likely to flood, and properties in FEMA minimal risk zones that were likely to flood. The customer realized that they needed a way to understand the current FEMA designation for the target properties but also have an independent flood likelihood evaluation of the property. For them, we created a sample set of customers utilizing HazardHub risk data that looked something like this:

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Then they created a targeted list by selecting B and C score prospects from the 100 year and 500 year flood plains and D and F score prospects from the minimal risk flood zones. This scoring and these selections are available nationwide and provided the customer with the ability to selectively target the types of customers that they were interested in from a risk exposure perspective. While this example discusses flood, this works for any natural hazard where properties are exposed, both personal property as well as commercial property. If you have data challenges to solve, perhaps the Melissa team can offer the location intelligence solution needed. Melissa supports geospatial professionals in the goal of mapping innovation in location-based services, analytics and decision-making powered by location intelligence. We provide a wealth of location data enrichments including global geocoding to derive latitude and longitude from an address, and geo-enriched data for IP addresses. We offer other types of specialized data including U.S. property and mortgage data (type and number of buildings on a parcel, property age, construction, sales value, and more), demographics (household income, marital status, residence data, credit information, and more), and risk and natural hazard information (wind, water, ground and wildfire) that can be linked to location data to reveal relationships and trends. Our data feeds easily into popular data visualization and analytics platforms for ease of use and up-to-the minute accuracy. When you need to solve global challenges with geospatial technology, turn to Melissa– your single, trusted source for authoritative reference data.

Written for Directions Magazine – Header Image via @directionsmag

HazardHub Predictions of Hurricane Harvey Show Significant Risk Compared to Competitors

Blog Administrator | hazard data, Hazard Hub, Property Data | , , , , ,

Exact numbers for the devastation caused by Hurricane Harvey won’t be in for quite some time, but the storm surge damage estimates are nothing short of extraordinary. Melissa’s partner, HazardHub, the only third-generation provider of property-level hazard risk databases spanning the most dangerous perils in the continental United States, released a shocking calculation before the 2017 storm ever reached Texas.

HazardHub predicted that risk from the storm, depending on the hurricane’s Category ranking, could be double that of its competitor’s predictions. HazardHub warned that 367,000 homes could be affected if Harvey became a Category 4, and that $77 billion of property was at risk. A report from the balance, after Hurricane Harvey hit, stated that total repairs will cost $180 billion and that 203,000 homes were damaged, thus far. Competitive estimates only indicated $30 billion in property damage and between $48 and $75 billion in total losses.

Although estimates for the number of homes at risk were higher than actuality, HazardHub aired on the side of caution and in the spirit of being best prepared for storm surge risk – as the company believes that everyone who owns a home or business should know the risk around their property and prepare as best they can.

Bob Frady, CEO of HazardHub, described it best, “For too many years, people have been caught by surprise by storm surges that caused massive damage to homes and businesses. We want to help eliminate that surprise by providing cutting-edge tools that help to estimate risk from – and allow people to prepare more fully for – storm surge.

HazardHub converts very large, very complicated data sets of long-run hazard event data into risk grades for natural disasters such as flood, wildfire, lightning, hurricanes, tornadoes, earthquakes and more, for every home in the contiguous U.S. You can check an address or latitude/longitude point, one at a time or in batch, to get detailed hazard reports on an entire mailing list, customer file, area or region.

Use HazardHub To:

  • See detailed reports of natural hazard risks in any area
  • Reach out to potential customers who could use targeted
  • insurance services
  • Pinpoint exact hazards at the address level for granular risk assessment
  • Give the most personalized insurance quotes by knowing which services your customers need
  • Determine which customers can best use services for mitigation, new roofs or storm preparedness

Comprehensive, accurate risk data analysis of home and business natural hazard risks help people better prepare for natural disasters, understand what services they need or don’t need, and enables individuals to make better real-world decisions.

HazardHub Web Service at www.melissa.com.

Acquire Property Owner Info in Under a Minute

Blog Administrator | Property Data, TopConnector | , , , ,

Looking for instant insight? Curious about a property or property owner? Get all the data you need, on any property you want – in less than a minute! The TopConnector App provides unlimited and unrestricted access to data for more than 120 million properties and its owners. And, it’s all in one place – your hand.

Individuals in real estate, insurance, home renovation and a plethora of other businesses offering services to property owners, are staying one step ahead of their competition with the TopConnector App. Imagine how you or your company would benefit from easy access to information on virtually any property in the US…

Ok, get your head out of the clouds…

This is How It Works:

  1. In the neighborhood: Tap the “My Location” button to center the map on your current location. Touch any house you see on the map to get the property and owner info – touch the next house, then the next, and so on.
  2. In the office: Enter an address in the “Search Field” and tap the “Search” button. The app will show the address location on the map. Start touching
    properties on the map to get property & owner data.
  3. In-the-dark on an address: Center the map manually on the area you want to research. Start touching properties on the map to see all the details.
  4. In picture-taking mode: From the location, take a picture of whatever you’d like – a house, tree or your shoes! Then use the “Find Photo’s Location” feature to show the photo’s location on the map. Start touching properties you see on the map to get particulars.

TopConnector can be downloaded in the App Store at topconnector.us or for more information, visit topconnectorapp.com