21 Apr 2014
GeoData Plus: The pioneer of property data
Sales comparables are crucial for investors to identify the true value of a piece of real estate, but these haven’t always been easy to obtain. Before companies like Zillow and Trulia, real estate investors and property tax reduction companies had to go to various government offices to obtain public record data. Now there are websites that track down this information. One of the first platforms to do this was GeoData Plus.
GeoData was originally started in 2000, to fill a need for real estate appraisers and property tax reduction companies that needed to obtain sales comparables. Created during a time when Zillow and other companies didn’t exist, there was no platform that made this information readily available.
Over time, real estate brokerages, mortgage companies and investors began using GeoData because they too needed more information. Unlike its competitors, the website has expanded their data to include pre-foreclosures (known as lis pendens), mortgage transactions, for sale/for rent listings, maps and year over year taxes.
President of GeoData, Erik Wind says, “We provide data and services you simply cannot get anywhere else. One example is our Nassau County zoning map. We are the only organization in the world with such a map – not even Nassau County has one.”
GeoData also integrate their service with appraisal software such as ACI and WinTotal, allowing appraisers to auto-fill their appraisal software with the website’s data instead of performing data entry, saving investors hours per appraisal.
Today, the website has evolved to include greater depth than just sales comparables and is now a real estate data source trusted by thousands of real estate professionals in New York.
Over the next year, GeoData plans to continue expanding the website by providing even more data in the geographic areas they cover. Currently only available for New York, they also hope to expand into other states so investors will have access to more information to make smarter decisions. To try GeoData, visit geodataplus.com.