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Service will help potential home buyers identify overvaluation scams.
New York, NY (PRWEB) February 27, 2013
PropertyValue.us.org is updating their database to make it more user-friendly for customers trying to avoid property scams, company officials said yesterday.
“The housing market is currently in flux,” a company representative said. “That's when the scam artists tend to come out of the woodwork, so we need to keep our database as up to date as possible.”
The company said their data shows that property values are rising overall, but not in all markets, and even in markets where it is rising, there are different levels of inflation.
“When sellers know that buyers are worried about rising property values, they can inflate the value of their home beyond what is reasonable in the marketplace,” the representative said. “They hope that the buyer will be so worried about having to pay more later that they buy on impulse, without checking the real value of the property.”
To counter this, the company is updating all their property records with new information so that people can get the best sense of the home's value, the representative said.
“The best way to avoid real estate scams is to have as much information at your disposal as possible,” the representative said. “This way, people will know of any problems with the house and if the seller is trying to gouge them.”
The company has brought on new IT staff to make sure the updated information is on their database as quickly as possible, he said.
PropertyValue.us.org was created to service the needs of those searching for real estate values or property value estimates. Through a quick search almost any property can be found so home buyers can make an informed decision about a purchase or current homeowners can assess their current financial accountability. Thousands of property value records are contained on this reliable nationwide database.
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