Saturday, April 13, 2013

Smartphone App Predicts Short Sale Difficulty

Smartphone App Predicts Short Sale Difficulty

So you don’t believe in psychics, palm readers, or any of those zany fortune tellers – the ones with the lights on but nobody’s home? After all, seeing is believing, right?

Well, once you feast your eyes on the new My Short Sale Score smartphone app, you might find yourself shouting, “I believe!” from your rooftop.

This brand-new app recently caught our eye during the course of some other tech-related research, and although we have not had time to test the app for ourselves (yet), we immediately suspected that you would appreciate today’s opportunity to learn more for yourself. According to multiple sources, including this YouTube video, the “My Short Sale Score” app can actually predict from the palm of your hand how difficult a short sale will be.

What a powerful game-changing tool for real estate investors and agents alike, huh?

It’s Really Quite Simple

Picture this: You’re beginning to consider a certain short sale transaction, right? But you don’t want to just “go with your gut” on the property in question, because you’re a responsible investor who values thoughtful analysis. Simply bust out your smartphone, open the app, and have at it.

Here’s how the app works:

1.Tap the button to “Score and Save a New Property”.

2.Answer 17 property-specific questions to the best of your ability. (Put on your big-boy pants and stop whining.)

3.Tap the button to “Submit for Score”.

4.Receive a numerical score for your chosen short sale transaction.

The app proposes analyze your responses with a high level of accuracy, based on prior key criteria extracted from 2,000 previous transactions – hence the 17 questions you are prompted to answer. (We note that 100,000 simulated transactions reflected a 97% confidence rate in the software’s forecasting abilities.) From this research, a scoring system was created to grade your property from “A” to “F”.

Once you receive your score, enter an address for the property and save your results. You may specify the property you just saved to receive a Pro Upgrade, thereby allowing you to view the app’s detailed short sale report – which is where you will receive your aforementioned letter grade (along with tips and warnings to guide you as you move forward with your transaction).

And forgive me for sounding like Rod Roddy, but “That’s not all!” The action doesn’t stop there with this unique software. The app also allows you to:

•Store seller contact details

•Set the status of your transaction as “open” or “closed”

•Create and save written notes

•Dictate audio notes

•Even take photos of the property with the built-in camera feature

Aaaaannnnd… As if that wasn’t enough to wow the pants right off you, you can also access a Google map to find your selected property if you are (heh hem) directionally challenged.

All together now: “Oooooohh! Ahhhhhhh!”

One might even consider this app to be “green” – what with all the trees you’ll be saving. That’s right. Say adios to the paperwork, files, and briefcases; now you can store all your information inside the app, and access your property’s data from multiple devices.

Worried about market fluctuations? Fuggedaboutit! (Insert New York accent here.) This app’s got that covered too. The underlying analytical model is updated regularly to reflect current market conditions, in order to provide you with the latest short sale scoring…right at your fingertips.

Interested? Watch the instructional video below for more details, and download the app for Apple or Android operating systems. Then let us know if My Short Sale Score is as helpful as it appears to be.

And don’t hesitate to tell us about any other helpful tools or apps, which might come in handy for other short-selling dealmakers like yourself. We want to equip Real Estate Mogul’s members with the best cutting-edge information out there!