Appraisal Scoop

HUD Unveils New Web-Based Mapping Tool to Display Nearly Half of U.S. Foreclosed Properties

New portal will help communities target NSP Funds to stabilize hard-hit neighborhoods

HUD No. 11 -166
Brian Sullivan
(202) 402-7527

WASHINGTON – The U.S. Department of Housing and Urban Development today launched a new web-based mapping tool displaying the location of all foreclosed properties held by Fannie Mae, Freddie Mac and the Federal Housing Administration (FHA).  These foreclosed homes collectively account for nearly half of all real estate-owned or REO properties in the U.S.  HUD’s REO Portal is intended to help local communities, homebuyers and responsible investors to acquire these properties and accelerate efforts to stabilize local housing markets.  Click Here: http://www.huduser.org/REO/reo.html

 This new mapping tool will be of particular help to those communities employing HUD’s Neighborhood Stabilization Program (NSP) in the targeted acquisition, rehabilitation and/or demolition of these REO properties.  The REO Portal’s consolidated graphic listing includes properties held by Fannie Mae, Freddie Mac and the Federal Housing Administration (FHA).  The tool enables users to search a specific address or neighborhood, as well as estimated delinquency counts based on HUD analysis for local NSP program activities.

 “In this case, a picture is worth more than a thousand words,” said HUD Secretary Shaun Donovan.  “This new mapping tool gives local communities a much clearer picture of where these foreclosed properties are so they can focus their energies in especially hard-hit neighborhoods.”

 

  “HUD’s REO Portal gives prospective homebuyers and local community development organizations a comprehensive view of housing opportunities in their desired neighborhood,” said Ed Neill, Senior Vice President of Credit Loss Management at Fannie Mae. “The REO Portal supports Fannie Mae’s ongoing commitment to stabilizing neighborhoods by allowing buyers to search through a vast selection of houses and find one they can call their home.”

 Anthony Renzi, executive vice president of single family business and information technology at Freddie Mac added, “The HUD REO Portal gives buyers a terrific new tool for comparison shopping affordable homes, including Freddie Mac’s HomeSteps homes, in the neighborhood of their choice.   I want to thank Secretary Donovan for giving Freddie Mac the opportunity to help develop the REO Portal, which underscores our mission to foster stable communities and support the nation’s housing markets.”

 In partnership with Fannie Mae, Freddie Mac, FHA, and the Federal Housing Finance Agency, HUD’s Office of Policy Development and Research developed this REO web portal allowing users to map available REO properties in their local community.  In addition to mapping individual properties, the portal provides consolidated listing for user-defined neighborhoods with details such as list date, price, number of bedrooms, bathrooms, and links to Homepath (Fannie Mae), Homesteps (Freddie Mac), and HUD Homestore (FHA) to connect potential buyers to the acquisition process.  The REO Portal supports more efficient disposition of REO properties to support the stabilization of neighborhoods and recovery of local housing markets by enabling a neighborhood-focused, strategic approach to acquisition.

Introducing WinTOTAL's NEW Virtual Earth mapping

Today's WinTOTAL update by a la mode, inc contains an entirely new location mapping system powered by Microsoft Virtual Earth™, providing their customers with better, more attractive maps optionally overlaid on aerial photography. 

“We're not the only ones excited by it.”, says Adam Calvery, VP Appraisal Products.  “Judging from the comments we've gotten from the hundreds of appraisers just like you who have helped us develop and refine it, it's a significant step forward.  “It has both a high "wow" factor due to the aerial photography and substantial improvements in time savings and ease of use.” 

The most obvious improvement is that Virtual Earth, or VE as they call it, gives appraisers the ability to integrate aerial mapping imagery into WinTOTAL.  In fact, appraisers can now flip between Street, Aerial and Hybrid maps using a dropdown at the top of the Map Wizard to get the style you want on the fly.  The hybrid maps are full-color aerial images with street overlays.

Adam cautions appraisers, “Be careful about thinking that aerial photos are just fancy eyewash – to the contrary, they add a new level of professionalism to reports which your clients indeed notice.” 

“The customers we've had testing the VE integration have told us that clients pick up the phone to call and say how impressed they are by the added aerial photos and the information they impart.”   “It's especially helpful on complex or commercial assignments where nearby land use is a significant factor.”

Because mapping is such a key component of appraisal reports, there are some key things you'll want to be aware.   A la mode, inc has put together a short training video on the Virtual Earth integration. 

To view it, click here. 

Adam Calvery
VP, Appraisal Products
a la mode, inc.
adam@alamode.com

Locate multiple addresses - calculate distances - make your own mashup map - instantly!

How would you like to take any kind of street address list, for example copied from an Excel spreadsheet, and automatically geocode the addresses to get latitude and longitude coordinates?   Then, map the data in your browser, download it into Google Earth, save it to a web page, or transfer it back into your spreadsheet?

You CAN with Batch Geocode!

Batch Geocode provides an Excel template for data entry.  You could also use a data source of your own and map the address cells to match the online Batch Geocode tool. 

I downloaded their template, deleted the sample data and entered my own addresses.  After cutting and pasting the data from the provided spreadsheet, it looked like the graphic below.  A couple of clicks later, I had an interactive Yahoo! map with all of the addresses pinpointed. 

The spreadsheet also has provisions for changing the colors of the pins.  For example Group 1 might be green for sales, Group 2 might be red for listings, blue for pending sales, etc.  BatchGeocode will even allow you to link to photos and website addresses.

Appraisers and salespeople can also use this tool to calculate distances to multiple addresses from a single point, or get quick driving directions to multiple destinations. Using your own data, it just takes seconds to plot it into a fully interactive multi-point map.

Click below for the map that resulted from the data input above . . .

Trulia.com's Heat Maps Offer a Visual View

In their first installment of new column, 'The Smart Surfer,' the Real Estate Journal takes a look at Trulia.com's Heat Maps, a visual tool for mapping out price and sales trends across the U.S.  They review its pluses and minuses, and offer insider tips on using the tool.  Click here for the full story.

DataPlace - One-Stop Source for Housing and Demographic Data

DataPlace aims to be your one-stop source for housing and demographic data about your community, your region, and the nation. The site not only assembles a variety of data sets from multiple sources, but it also provides tools and guides to assist you in analyzing, interpreting, and applying the data so you can make more informed decisions.

DataPlace lets you view tables, charts, and maps of data about states, counties, cities, zip codes and census tracts in the United States, from sources such as Census, HUD, Home Mortgage Disclosure Act, and Section 8 Expiring Use.

DataPlace is a KnowledgePlex® initiative sponsored by the Fannie Mae Foundation.  KnowledgePlex was created five years ago by the Fannie Mae Foundation and a distinguished team of founding partners. It provides a wealth of resources including documents, news, online chats, discussion forums, multimedia, and an industry calendar. 

While KnowledgePlex provides a comprehensive source of housing-related information from all over the United States, DataPlace complements this broad-based resource by providing easy access to highly targeted, local information. Both tools advance the mission of sharing knowledge with those who are engaged in the work of providing affordable homes and building communities.

Click below to learn more about this mapping and data resource, how to get started using the data, and even a webinar style seminar on it's use!

The Perfect Appraisal Camera? - Ricoh Releases New GPS-Ready Digital Camera

Could this be the NEXT Perfect "Appraiser's Camera"?  Ricoh Corporation has joined the high-tech real estate market this month by releasing its 500SE GPS-ready digital camera with integrated Bluetooth connectivity, Wi-Fi, and a 28mm wide-angle lens.

Price: $899 + GPS Unit: $130 +Wifi: $50 = Total: $1,079

Developed for outdoor location-based photography, the 500SE boasts extreme ruggedization and high resolution to meet the image quality and all-weather usability demanded by the mobile appraiser, interested in incorporating GPS photography.

The camera's integrated precision GPS module provides for an all-in-one, easy- to-use device for geo-coding images and video at the time of capture. For applications that require even greater precision, the camera is capable of receiving NMEA data streams from external GPS devices via its on-board Bluetooth(R) radio.

Click below for more details . .

Well Isn't THAT Spatial! GIS Day Nov. 15th

GIS Day 2006 will be held on November 15, 2006.

GIS Day provides an international forum for users of geographic information systems (GIS) technology to demonstrate real-world applications that are making a difference in our society. More than 70 countries will participate in holding local events such as corporate open houses, hands-on workshops, community expos, school assemblies, and more. GIS Blog.

Geography Matters.   All around the world, people are working more efficiently because of it. Businesses and government, schools and hospitals, nonprofit organizations, and others are taking advantage of it. This isn't your elementary school's geography. This is using geography, and GIS technology, to gain new insights and make better, more informed decisions. Learn more about why Geography Matters and how GIS can give you the Geographic Advantage!

GIS Day is part of the National Geographic Society's Geography Action, a year-long initiative encompassing key educational achievements such as GIS Day and Geography Awareness Week. Each year has a different geographic focus to explore and understand.  The 2006-2007 program theme kicks off a five-year, around-the-world curriculum series with Africa in 3-D.

If you're in Central Illinois, come visit us in McLean County for the GIS Day 2006 Open House and Celebration.  November 15th 2006, 10am - 4pm 115 E. Washington St. Bloomington IL 61701 Government Center,  McLean County Board Room (4th Floor)  Proclamation.