After a successful launch in the Manhattan and San Francisco real estate markets, home, apartment, condo, and co-op review website Revaluate has done its data-mining magic for every home in Chicagoland.
Revaluate refines and organizes massive amounts of government data that powers its algorithms, which lets consumers quickly compare homes while also allowing them to drill into the fascinating and useful details. The company continuously mines and processes data to spot trends and notify users of changes to neighborhoods and properties.
All of that number-crunching results in free detailed reports for every Chicago address. Company officials say that those reports are built in part from never-before-seen data, unlocking a total of 598 records per address.
Revaluate cuts to the chase and answers the big question: “What’s it really like to live there?”
With Revaluate, prospective renters and homeowners enter an address to access information on critical factors such as safety, the environment, cost of living indicators and quality of life measurements. The company says it now has the largest consumer-facing real estate data source.
From all that data, Revaluate calculates an overall “Livability Score” for the address and brings to light data that had been previously locked in government databases.
That score is crucial to home satisfaction, according to company officials, who say that livability is a key metric. They add that research from 2014, published by Research Now shows that 39 percent of people say they don’t like where they moved.
Company reps say that they make available about ten times more data than that which is found other public-facing real estate websites.
“The homes and apartments have been staged to look their best – that’s ok, but there needs to be an advocate for the buyer and the buyer’s agent.” said Revaluate CEO Chris Drayer, in a statement.
“Real estate professionals leverage Revaluate’s data to add value and insight to their service. They should have access to this data to help you make the right move.”
These reports are intended to help consumers make better informed housing decisions, analogous to the need that online reviews serve for other products and services. The company was founded in 2014 and is headquartered in Boulder, Colo.
