Welcome to the next installment of how to get the most out of FinestExpert.com – How to Use FinestExpert HeatMaps. Previously, we had:
- Getting Started with FinestExpert.com
- Financial Search Criteria for Real Estate Investors
- How to Get the Most Out of FinestExpert.com Property Search Criteria
Perhaps it is best to take a moment to describe the various characteristics of the map.
Map - although the map speaks for itself, there is actually a lot more going on in the scene that can give you important information about your markets of interest at various levels of detail. We refer to these as the heatmaps, because the color coding follows the typical “heat” coloring, where a “hotter” color represents a higher value.
Each time you zoom in, the system recalculates the heatmap appropriate to the area displayed, whether you are viewing at the granularity of entire states or down to the census tract level.
Because a “high” priced area is generally considered high relative to the areas around it, the values of the legend vary dynamically. Following are a few snapshots of a heatmap legend at various zoom levels.
Whether you are using the heatmaps for regional analysis or to find the right neighborhood for your home they are the right tool to provide a ton of data that is easy for your brain to synthesize.
On the left side of the map, about halfway up, there are five icons that allow you to control search and display characteristics. The fourth one, the flame, is where you go to control the heatmap settings, allowing you to choose from any of the following options.
| None (turn it off) | Price Asking | Rent Asking | CAP Rate |
| FE-Score | SQFT (Square Feet) | Rent Ratio | Net Operating Income |
| Price Discount | Price per Sq Ft | Rent per Sq Ft | Gross Rent Multiplier |
| Cashflow | Cash-on-Cash Return |
When you see the term "price discount", you can think about there being equity in the property. Because you never really know until you see a property whether and how much equity is built in, we have chosen to use the term discount.
Once you refresh the map, the bottom right legend will be updated as well, so that you know the value ranges and can refer back any time to remember which search term is displayed.
Before you go, can you do two small favors for me?
- Would you tell me what you think?
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Have you found a specific way of using the FinestExpert.com that makes your life a whole lot easier? Or, is there some, “how do I …” question you’d like answered, please comment and we’ll keep answering until the questions stop.
