Movoto Launches SpotProperty: The First Daily Deal Website for Homes

SAN MATEO, Calif., July 12, 2012 /PRNewswire/ -- Online real estate brokerage Movoto announced the launch of SpotProperty (www.spotproperty.com), the world's first daily deal website for homes. SpotProperty is an Internet real estate deal finder that identifies great home values and delivers them to a consumer's inbox as they come on the market.

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SpotProperty Does the Work for You
SpotProperty's technology scours property data and housing trends from over one million for-sale properties in 50 metro areas throughout the US in order to identify the best deals in each local market. Each day, potential homebuyers receive a message with a recently listed property that fits their desired search criteria and is selling below market value. The service is completely free for users.

"Over 40 million people in the United States have used some type of daily deal site, so this concept is well understood," said SpotProperty co-founder Henry Shao.  "Americans love deals, and there are more home deals in the housing market now than ever before. SpotProperty is a fun and easy way to discover great home deals around you."

What is a Real Estate Deal?
A deal is a home that is low priced compared to the market; in some cases a short sale, foreclosure, or quick sale. The deals are typically priced at 10-20% below the current market value, saving the average homebuyer or investor thousands on their down payment and annual payments. When the user is ready to go see the home, they have the option to use one of Movoto's partner real estate agents, who are experts in their local area and in the distressed sale process.

"There are a lot of tools on the Internet to help homebuyers, but these don't tell buyers if the property is a good financial decision," said Shao. "Consumers have to spend a lot of time browsing through numerous properties online to find a good value. After my own recent search for a home, I knew there had to be an easier way to find a deal."

"For the bargain hunter, sitting on the sidelines waiting for the perfect deal, SpotProperty serves a great purpose," said Boston-based beta user James Harland. Another homebuyer who has used the service confirmed that "SpotProperty is definitely a time-saver."

Complex Analysis Made Easy
SpotProperty's patent-pending DealSpotter algorithm uses data straight from the Multiple Listing Service to compare for-sale homes to others nearby, as well as to recently sold homes. SpotProperty analyzes records from over a million for-sale homes and nearly five million sold homes in order to locate the best deals relative to the market. Once the DealSpotter identifies a house, it matches it to a user's preferences. Each day the user receives a fun and simple daily deal email that directs him or her to a detailed description of the property, where they can then connect with a real estate agent to go view the home.

About SpotProperty
SpotProperty is a new, unique service provided by Movoto Real Estate, based in San Mateo, California. For homebuyers who want to find a good deal, SpotProperty is the real estate deal finder that identifies great house deals on the market and delivers them right to a consumer's email box. Unlike homebuyers sifting through hundreds of properties manually, SpotProperty DealSpotter uses the best methods that an experienced real estate agent has been using for years to automatically discover great deal for homebuyers.

About Movoto
Movoto Real Estate launched www.movoto.com in March 2006, providing an innovative, easy-to-use research tools with ready access to a network of experienced local real estate agents.  Movoto.com was the first real estate website to bring a map front-and-center into the home search experience right on its homepage. Movoto now offers its free services in over 30 states. In 2011, Movoto was named #13 on the Inc. list of fastest growing private real estate companies.

www.spotproperty.com

Addendum: List of Metro Areas for Launch
Akron; Albany; Atlanta; Austin; Baltimore; Birmingham; Boston; Buffalo; Charleston; Charlotte, NC; Chicago; Cleveland; Dallas-Fort Worth; Detroit; Fort Myers-Cape Coral; Fresno; Greensboro; Houston; Inland Empire, CA; Jacksonville; Knoxville; Lakeland, FL; Las Vegas; Long Island; Los Angeles; Los Angeles (San Fernando Valley); Los Angeles (San Gabriel Valley); Memphis; Miami; Minneapolis-St. Paul; Nashville; New Orleans; Orange County, CA; Orlando; Palm Springs; Philadelphia; Phoenix; Portland; Providence; Raleigh-Durham; Richmond, VA; Rochester, NY; Sacramento; Salt Lake City; San Antonio; San Diego; San Francisco Bay Area; Sarasota; Seattle; St. Louis; Stockton; Syracuse; Tampa Bay Area; Tucson; Ventura County, CA; Virginia Beach; Westchester County, NY.

SOURCE SpotProperty