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  • Real Estate: Technology

    By Dr. Ana Machuca, Full-Time Faculty 
    Published September 2014

    What is Technology in 2014?

    Technology in 2014 means Internet searches, blogs, apps, Facebook, Twitter, YouTube, and other social media outlets. With a smartphone you have access to millions of applications which can be used to help you prepare to buy your dream home today. You can apps available from Trulia, Zillow, Redfin, MyNewPlace, and Realtor.com to immediately alert you the second a home with your given criteria goes in the market or if a price change has occurred on a home you have added to your favorites.   

    Useful Smartphone Applications  

    With applications like iPhone’s “Around Me” you can do so much more than the learning the price of a home. The app easily allows you to view local amenities such as restaurants, banks, gas stations, and more. (Boero, 2014).  With any “Navigation” application you can quickly determine if the listing you are going to see is next to a busy highway or a jail or look around the neighborhood by using the street view mode.

    When you want to find houses that are for-sale-by-owner (FSBO), which means they are listed by a realtor, while on the go you can use “Classifieds2go” to help you find these FSBO sales.

    With “HomeBuyingPower” you can input variables like: payment amount you are willing to pay, any down payment, loan term and interest rate in order to determine how much home you can afford. It can go as far as helping you estimate closing costs.   

    When you go to a closing you can have the application like “Dictionary of Real Estate terms” handy to define over 3,000 real estate terms showing you know what you are talking about by asking educated questions.   

    An application like “CreditKarma” can help you improve your credit score or monitor who has accessed your credit score and why. With CreditKarma you use the Credit Score Simulator to show you how certain financial actions might affect your credit score over time. You can see how a bankruptcy, late payment, tax lien, and more could affect your credit score. This can come in real handy whenever you are in the market for a new home.   

    With a “BankRate” application you can view interest rates for several mortgage companies, great articles about saving money as well several calculators at your disposal, like:

    •     Mortgage calculator 
    •     Auto loan calculator 
    •     Loan and amortization calculator 
    •     How much house can you afford? 
    •     Simple Savings Calculator 

    See more at Bankrate: www.bankrate.com/#ixzz38dnMMqnD 

     

    References

    Boero, B. (2014). 1000Watt Blog. Retrieved from http://1000watt.net/2009/07/15-real-estate-related-iphone-apps-you-need-to-check-out-2/  

     

     

    Ana Machuca is a full-time faculty member at Kaplan University. The views expressed in this article are solely those of the author and do not represent the view of Kaplan University.

    The contents of this article are presented for informational purposes only. Always check with a professional regarding any questions you may have regarding financial services.

     

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