When building the product roadmap for our map-based real estate application, LandVision™, we always have our eyes open for features that will help users plan for and react to market conditions quickly and efficiently. We know that in the real estate world, it’s almost always the quickest to adapt that ultimately succeeds in any market.
With that in mind, we’d like to give you an overview of our latest update with some examples of how savvy real estate professionals can immediately benefit from the new and improved features we’re releasing. If you’re a current LandVision customer, you will start to see these new features in your account within the next few days.
Debt and sale information
LandVision users have always had the ability to search for properties based on the last market sale date, price, and other transaction criteria, but with this release, we’re introducing new ways for users to understand the debt and transaction history of a target property. Users will now be able to access a new debt history card that displays the loan amount, origination date, maturity date, lender, interest rate, loan type, and document number associated with a property. A corresponding sale history card will identify the buyer, seller, sale price, loan value, lender, and document number that correspond with the last market sale of a property.
As with any other data available in LandVision, users will also be able to search for properties using these and other criteria. For example, a broker could search for every industrial property in a given market with a loan origination date that is five to seven years ago in order to find properties most likely to be sold or refinanced in the near future.
Opportunity zone enhancements
Ever since we first introduced the Qualified Opportunity Zones layer in LandVision, it has been one of the most-used data layers by real estate professionals seeking to benefit from the capital gains tax incentives associated with investing in opportunity zones. Our last release made it even easier to find viable opportunity zone properties, and now we’ve made several additional enhancements that will enable users to better contextualize the properties they find:
Selecting an opportunity zone in LandVision will now provide users with an at-a-glance overview of the property and demographic makeup of that zone. Age, gender, income, education, and other key demographic breakdowns will be available within the information panel, and selecting “Property Stats” will open a detailed breakdown of the property types present within an opportunity zone. This added functionality allows real estate professionals to quickly conduct a high-level analysis of individual opportunity zones within a target market to determine if the population or properties meet their specific criteria and further analysis is required.
Because realizing the full benefit of an opportunity zone investment requires holding onto a property for an extended period of time, investors and developers frequently seek out properties located near anchor institutions like hospitals, higher education facilities, entertainment complexes, or other points of interest that are less likely to relocate than other amenities. When you select an opportunity zone in LandVision, you’ll now be able to access a full list of every anchor institution within that zone. Selecting one will highlight it on your map and open a new panel with details about the institution, including when the establishment first opened and any tenant contact information that might be required.
Faster access to additional data layers
Users choose LandVision to help them save time when conducting property research and analysis, so with this release, we’ve made it even easier for LandVision users to visualize the data layers that they most commonly access in opportunity zone analysis. The information panel now provides an overview of the selected opportunity zone’s proximity to hazards such as superfund and brownfield sites, and with one click, these hazards can be overlaid on the map. Traffic data can also be overlaid by clicking the link in the information panel, allowing users to assess the traffic volume within and around a selected zone more quickly.
More detailed demographics
We’ve updated the demographic data in LandVision to make it even more user-friendly and prevalent within the application. In addition to now being present on the information panel for opportunity zones, area demographics can also be found within the information panel for any property a user selects. Additionally, when using the demographics layer in LandVision, every statistic is now displayed as both a raw count for a selected census tract (i.e. 2,000 residents over the age of 65) as well as a percentage of the total population (i.e. 52% female). Finally, we have added a few categories such as college-educated, number of children, and number of seniors that will help businesses and other service providers better determine where to place new locations to reach their desired customers.
To see these exciting new features in action, schedule a free LandVision demo today!
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Category Commercial Real Estate