5 Things Homebot Can Do For You
Updated: Aug 1
ARE YOU A HOMEOWNER? HAVE YOU BEEN WANTING ONE RESOURCE TO TRACK YOUR HOME’S VALUE, EQUITY AND PAYMENT PROGRESS? LOOK NO FURTHER! HOMEBOT IS A REPORT CUSTOMIZED SPECIFICALLY TO YOUR HOME. HERE’S WHAT YOU CAN EAGERLY ANTICIPATE BY ENROLLING TO RECEIVE YOUR ONCE-A-MONTH DIGEST.
1) Estimated value of your home
What makes this different from a Zillow Zestimate or the like, you might ask? Homebot pulls data directly from the local MLS (multiple listing service), public record and RealtyTrac. RealtyTrac is a real estate information company and online marketplace for foreclosed and defaulted properties in the United States. These resources foster much more accurate data than Zillow can or does, so you can rest assured the information you’re receiving is the next best thing to having a broker generate a CMA (comparative market analysis) or BPO (broker price opinion) on your home or having an appraisal performed by a professional appraiser.
2) Loan balance payoff information
Keeping an eye on what you’ve paid towards principal vs. interest is of enormous importance when it comes to how much equity you have in your home, likely your largest asset. The lower your principal balance is, the higher your home’s equity will be and the more room you have to leverage that equity to build your own personal wealth. Because home sales are public record, Homebot will automatically plug in your particular loan details to base its calculations. You can use this data to determine whether or not it makes sense to pay an additional amount towards principal each month or if it’s time to refinance your loan on a shorter term or for a lower interest rate.
3) Scenarios for refinancing
Is paying your home off sooner a goal of yours? Homebot provides three refinancing scenarios based on current national rate trends and breaks down your long-term savings and impact on your monthly payment amount. Call your local lender to dive into your options even further or contact me! I can provide you with the names of some highly-accredited lenders who would be happy to review your best, money-saving options with you.
4) Rental potential possibilities
Are you curious what you could earn renting your home, or even a room in your home, on an online hospitality marketplace such as Airbnb or VRBO (vacation rental by owner)? Homebot provides an integrative and modifiable platform for running numbers to estimate your home’s potential revenue. How cool is that?! Contact me if you’d like more information on this or on where you can find average going rental/nightly rates within your specific neighborhood/zip code.
5) Trading up to a new home or paying off debt
Homebot breaks down how much “purchasing power” your home’s equity could grant you. For example, you could take out a HELOC (home equity line of credit) on your home and use that to put a down payment on a new home. Then, you have the option to keep your old home as a rental or sell it after you close on the new home.
If paying off debt is more important to you, then perhaps doing a “cash-out refi” is the better route for you. You could use these funds to pay off bad debt like credit cards, pay down your student loans or make home improvements/updates to increase the value of your home. The options are endless!
Homebot truly is a tool designed to empower and benefit the average homeowner. It has been said that “By the time the average American reaches 65 years of age, 83% of their personal wealth will come from their home equity.” Homebot is a financial planner that enables you to maximize the wealth from the single largest asset you will ever own. You have nothing to lose by signing up today!
**Are you interested in signing up for your FREE monthly Homebot digest?**
Simply register at this link: freepropertyestimate.com
If this is something you’re curious about or have had on your mind, contact me to learn what could be possible for you. As Robert Kiyosaki, an American businessman and author once said, “Leverage is the reason some people become rich and others do not become rich.” I invite you to explore your possibilities with me. Contact me by calling/texting (818) 389-4465.