When neighbors all over the planet want to know what’s happening down the street, they turn to Nextdoor, the free and private social network that’s specifically tied to your neighborhood. It’s become an invaluable resource for finding lost pets, sharing information about local events and businesses, and generally keeping tabs on what’s happening in your area.
Now, Nextdoor is adding another invaluable hyperlocal service to its roster: industry-leading real estate analytics that can tell homeowners and residents how much a house is worth. Through a partnership with HouseCanary, Nextdoor users will be able to easily determine how much a specific home is worth today and what it’s likely to be worth in the future, leveraging HouseCanary data and analytics to educate and inform Nextdoor verified residents about their most important asset.
The partnership will provide several avenues that will help homeowners maximize the value of their homes by leveraging the same data, analytics, and algorithms trusted by real estate investors from Silicon Valley to Wall Street. Current homeowners will be able to pinpoint their home’s current fair-market value, see how their home is projected to appreciate in the next three years, and make better decisions for themselves and their households as a result.
For home buyers, the partnership will provide unprecedented insight into the current and future value of homes they are considering purchasing, driven by our industry-leading valuation model, and allow buyers to easily compare homes. By using HouseCanary analytics while shopping for homes, buyers can make an offer and head to closing with confidence, secure in the knowledge about what their purchase is worth and what they can do to improve its value in the future.
The real estate agents who use Nextdoor will also enjoy the benefits of this partnership with HouseCanary. Real estate agents and brokers already know they can use Nextdoor’s powerful social network to reach millions of verified homeowners in their own neighborhoods; now, they’ll be able to provide local market knowledge for those verified homeowners that will establish any agent as a trusted, valuable neighborhood resource for both buyers and sellers in a home sale transaction.
Homeowners, home buyers, and real estate professionals have never before enjoyed a platform that offers such a wide range of intensely local real estate knowledge and information. When the established social network for neighborhoods joins forces with the expert in real estate valuations, the powerful combination will unlock tremendous value for users and participant on both platforms; this partnership between Nextdoor and HouseCanary promises to educate and inform neighborhood residents and home buyers, enabling them to make the best possible real estate and home renovation decisions.
“Real estate has consistently been one of the most popular topics discussed among neighbors on Nextdoor, and this innovative partnership with HouseCanary will help our members who are homeowners better contextualize their home’s value,” said Nextdoor’s Chief Revenue Officer Lauren Nemeth. “Millions of Americans are consistently seeking to better understand how to maximize the value of what is often a family’s most significant financial asset: their home. We’re thrilled to enhance the value of Nextdoor in this important area and look forward to working with the team at HouseCanary to bring even more value in the future to our members.”
HouseCanary’s data and analytics will be made available to Nextdoor users through partnerships with real estate agents, who are increasingly turning to Nextdoor to help position themselves as local experts who know and understand how the real estate market operates at a neighborhood level. Local real estate agents will be able to sponsor neighborhoods on Nextdoor, giving those agents the ability to share market statistics, articles, and to have conversations with verified residents at specific addresses.
Since 2013, HouseCanary has been building an unparalleled real estate dataset that contains not only public records and MLS data, but also data on features like the view from the house and its proximity to noteworthy local landmarks and attractions. And our proprietary algorithms are able to determine how different features (like additional bedrooms, bathrooms, or square footage) impact a home’s value compared to the other homes available on the same block and in the same neighborhood.
“HouseCanary has built industry-leading tools that provide invaluable insight at the neighborhood level to help homeowners across the country make better real estate decisions. Nextdoor is the only platform made up entirely of real people associated with verified addresses, and this uniquely valuable integration will allow Nextdoor members to compare each listing with their home, so they can see the difference in size, value, or amenities in seconds,” said Paul Wehrley, COO at HouseCanary.
“HouseCanary and Nextdoor both understand that real estate is inherently local. Nextdoor has created a social network that promotes sharing of information and closeness among neighbors. HouseCanary is the expert at predicting individual home values across the United States at the neighborhood level. The combination of an incredibly powerful local social network with a highly intelligent, predictive, and accurate home valuation tool adds unprecedented value to any agent’s business,” said Lance Pendleton, Chief Innovation Officer, WP/JBF Sotheby’s International Realty.
Claim your home and your neighborhood at nextdoor.com to become a verified Nextdoor user.