SANTA CLARA, Calif.,
March 27, 2019 /PRNewswire/ --
Realtor.com®, the Home of Home Search℠, today announced a new
feature that equips this spring's home buyers with a deeper
understanding of their buying power by providing a tool that allows
them to add or subtract the cost of specific home features. Price
Perfect helps home buyers to configure their ideal home, within a
desired price range, in their neighborhood of choice – the
first-of-its-kind in the digital real estate industry.
"Our research shows 'how much can I afford' is one of the
biggest pain points for home shoppers," said Brad Sivert, general manager and head of
mortgage for realtor.com.® "With Price Perfect, buyers have more
insight into their spending power by showing them the impact of
adding or subtracting specific home features, such as an extra
bedroom, bathroom or adding a garage. It empowers them to find the
right home that is both affordable and has the features that are
most important to them."
After entering a basic search of bedrooms, bathrooms and
location, buyers are able to view how much adding or subtracting
specific features would impact the price of their home and adjust
their search accordingly. For example, when searching for a
three-bedroom, two-bathroom home in Madison, Wis., the cost of expanding the
search to include another bedroom would add $62,500 and another bathroom $24,045 to the median listing price of
$369,900. But subtracting a bathroom
could save a buyer $10,000 and
considering a condo instead of a single family home could save
another $5,000 off the median listing
price.
Once the buyer decides on their desired features, they are shown
the monthly payment for the median-priced home broken down by
mortgage, property taxes and insurance. With a quick click of the
"See Homes" button, they can view all the homes on realtor.com®
that meet all their specific search criteria.
Price Perfect assigns costs to individual home features based on
an algorithm of listing prices and characteristics of homes
currently on the market in a specific neighborhood. This ensures
all costs reflect market conditions in real time, making these
insights incredibly relevant to buyers currently in the
market.
Home buyers are able to access Price Perfect
on realtor.com® at
https://www.realtor.com/mortgage/tools/price-perfect?iid=global_nav.
To access Price Perfect from the realtor.com® homepage, simply
click "Mortgage" and select "Find My Buying Power."
Realtor.com®'s Price Perfect feature is available on mobile web
and the realtor.com® website and will be expanding to the company's
iOS and Android app.
About realtor.com®
Realtor.com®, The Home of Home Search℠, offers an extensive
inventory of for-sale and rental listings, and access to
information, tools and professional expertise that help people move
confidently through every step of their home journey. It pioneered
the world of digital real estate 20 years ago, and today is the
trusted resource for home buyers, sellers and dreamers by making
all things home simple, efficient and enjoyable. Realtor.com® is
operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV]
subsidiary Move, Inc. under a perpetual license from the National
Association of REALTORS®. For more information, visit
realtor.com®.
Media Contact:
Realtor.com®
Lexie Puckett-Holbert
lexie.puckettholbert@move.com
View original content to download
multimedia:http://www.prnewswire.com/news-releases/realtorcom-launches-new-price-perfect-tool-to-help-buyers-find-specific-homes-that-match-their-needs-300819280.html
SOURCE realtor.com