Is it really possible to forecast where the price of your house is likely to be a year into the future? Allan Weiss, co-founder and CEO of the company the pioneered the Case-Shiller price index, believes that it is.
But unlike the Case-Shiller index, which tracks price trends in roughly 5000 zip codes, Weiss Residential Research tracks individual homes in most areas nationwide. Weiss claims that specific houses were predictors of important changes in previous pricing trends, that were not otherwise observable to consumers in the marketplace at that time. His houses-specific indices will not provide current property valuations, but will show price movement over a period of recent years.
For $25, consumers will be able to purchase one year forecasts and line graphs from Weiss Residential Research. Just email myhouse@weissres.com and list the property address and zip code. Please report back to this blog what you thought of this service, should you decide to look into it further.
Later this summer, Weiss will publish reports on price trends in major metropolitan housing markets at www.weissres.com. He believes that such information should allow consumers and home buyers to make smarter decisions and avoid potentially large home-buying mistakes.
If any of my blog readers have signed up for this service, please let me know what you think.
Happy Investing!
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