Hot off the New York real estate press:
Radar Logic just announced its agreement to purchase New York City’s premier real estate appraisal firm, Miller Samuel Inc.
Radar Logic is a technology-driven data and analytics business that produces a daily “spot” price for residential real estate in major U.S. metropolitan areas. The company had partnered with blogging veteran and appraisal guru Jonathan Miller (Matrix), co-Founder/CEO/President of Miller Samuel, to provide his housing data valuation expertise for use in Radar Logic’s proprietary secret weapon, the Radar Logic Daily Price, a single statistical value that represents the price per square foot paid in a defined Metropolitan Statistical Area (MSA) on any given day (example here). Move over zestimates. Financial instruments based on the Index are trading on the RPX market (Residential Property Index). Did you get all that?
Our prediction: The RLDP will unseat Standard & Poor’s Case-Shiller Home Price Indexes to track the residential real estate markets. Congratulations to both companies and our ‘ol NYC blogging bud.
Technorati Tags: New York City real estate, appraisal, housing index, Radar Logic, Miller Samuel, Jonathan Miller, Case-Shiller
back at you! Best, Jonathan aka “RV”