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Buying a Home Via the Web

Boot Camp feature for Friday, September 8, 2006

Buying a home…via the Web. Bloomberg Boot Camp, a report on today's technology. There is a lot of help available online if you're in the market for a home. Real estate agencies have listings and lots of advice. Now a site called Reply.com…gives you the option of checking the value of a property whether it is for sale or not….and for a 25 dollar fee….lets you make an unsolicited offer to the owner. Reply CEO Payam Zamani…

"You come to our Web site, you type in any address or any neighborhood that you are interested in. Immediately you're provided with an aerial photo of the house, a parcel map of the house and you're provided factual data about that home. The factual data will include square footage, lot size, the last time the house was sold, for what price it was sold, it will also tell you how much the house is worth today. It's an automated valuation and we'll tell you how confident we are in that valuation based on the transaction histories that we have available. But on top of that, if you are truly interested to transact, we have a network of local realtors that can come to your home, at no cost, and provide you a real market quote."

About unsolicited offers…Zamani says …whether it is listed or not…many homeowners would be willing to sell for the right price. In addition to home buying, Reply allows you to research new and used cars….and if you're ready to buy, connect you with dealerships. You can find us on the Web at Bootcamp.com. Bloomberg Boot Camp, I'm Fred Fishkin.