April 30, 2008

Freakish Depth 3.0

Earlier today, Redfin released the third version of Freakish Depth, which might be more suitably categorized as ”Freakish Depth, Version 3.0.” With this latest software release, you can now view even more properties on the site, as the searchable housing inventory now includes FSBO’s and foreclosure properties listed on the MLS.  Redfin is the only major site which offers actionable foreclosure data free of charge. What an awesome search capability those Redfin dev guys have given us real estate addicts, as the number of foreclosures continues to rise (unfortunately)!

Many foreclosed properties can be bought directly from the bank prior to their being listed by a broker in the MLS, but buyers can only see them on most websites if and when the bank hires a broker. Redfin users can see the foreclosed properties as soon as the bank takes possession, usually after an auction fails to attract a buyer willing to pay the amount owed on the mortgage.

For-sale-by-owner listings, which can represent as many as 14 percent of homes for sale nationwide, also do not appear in most MLS-powered sites except for Redfin. With this release, Redfin integrates data from more than 50 for-sale-by-owner sites, including ForSaleByOwner.com, ForSaleByOwnerCenter.com, FSBOSellBuy.com and HomesByOwner.com. Overall, foreclosure and for-sale-by-owner listings have increased Redfin’s inventory by nearly five percent.

And if that isn’t good enough, you can also search up open-house showings or receive open-house alerts by RSS or by e-mail. Perfect timing for you spring time looky-loos!

Two thumbs up, freakishly exciting Redfin dev guys!