A highly visual way to research real estate
Thanks to TV shows like Million Dollar Listing, and home-stalking websites like Zillow, it's a good time to be a real-estate junkie. But, now there's a new (money-saving) way to monitor the market: Trulia's home-reductions map.
Founded in 2006, Trulia is a free, nationwide search engine for homebuyers and renters. Enter your desired location and price range, and Trulia trolls its extensive database for matches. You can then click on properties for more details, pictures and broker information.
The new home-reductions map makes the process even more interesting by providing a visual way to understand where housing markets have legs, and where they don't. When you enter, you'll see a giant, color-coded map showing (at a national glance) how long properties are typically on the market before the price goes down. Next, you can zoom in on specific zip codes to see the average listing price, average reduction and likelihood of a second price cut.
Aside from the fun of exploring housing trends (seriously, it's a great procrastination tool), we like the idea of testing the strength of a market in which we're looking to buy or sell.