In 2003, a tech-market nuclear winter was brewing all around us and we wanted to understand the impact it would have on our Silicon Valley property values. Unfortunately, any research available was highly latent and regionally aggregate. While we could access a three-month lagging San Francisco Bay Area overview, that offered little real-time insight into discreet neighborhoods, which have a unique dynamic.
We set out to interpret and solve the problem that was real estate market analysis.
Years later we can look back and see that property values in Los Altos sank by 20% during 2002 and that they didn’t reach their past peak until 2005. But in the middle of ’03, who knew?
Many resources will offer you an estimate range for the price of your home. While this is great information, to our way of thinking, it’s not nearly enough. That range estimate can’t offer answers to questions like “What is the market doing?”
To make informed decisions requires real-time analysis for a local area. Altos Research is in the business to help you understand the real estate market. We focus on one question, “How’s the market?” Our clients have this kind of research and information in every financial aspect of their lives; and they hunger for it in their real estate decisions as well.
From the beginning we knew we would package up our real-time housing data for anyone who cares about such things. We quickly realized that real estate agents are hungry for that information, and that home buyers and sellers and investors need their own insights. Of course, servicers, lending and wall street institutions also have powerful interest in understanding the current housing market. Those groups became the foundation for our products.
After much tinkering and testing, we had a solid platform to monitor local markets in real-time and bring that data to our customers effectively. Altos Research, LLC, was incorporated in 2005 and the company began in earnest January 1, 2006.
Altos Research data now reaches major financial institutions, investors, and thousands of real estate professionals every day. Our statistics and insights are frequently featured in national media such as Forbes, BusinessWeek, and Bloomberg TV. The company won the “Most Innovative New Technology” award from Inman News in 2007.