The Housing Market Goes Digital

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The Federal Savings Bank shares news and comments on how searching for a home is changing more from driving around to the comfort of ones couch.

The Federal Savings Bank thinks the future is here for the housing market, and 3-D technology is about to be everywhere. Now, renters and home buyers won't have to go trudging through the snow to attend open houses or attempt to judge a home based on low-quality pictures online. Soon, they'll be able to take a digital walkthrough of a home without putting on their shoes.

3-D technology is enabling sellers and Realtors to scan the interior of homes and set up an entirely new kind of housing market - one that relies on the digital age to sell homes.

This exciting capability is also helping homeowners rethink their current spaces and make major decorating decisions.

New York City apartment hunting goes digital
For those looking to buy or rent an apartment in busy and expensive New York City, the search just got a lot easier, as The Wall Street Journal reported on December 21st. Halstead Property will use 3-D images to provide their customers with virtual walkthroughs of each room of the home. Now, potential buyers can check out how big the kitchen really is or look out the windows and see if there's a view of a park or another brick wall - no more hidden negatives.

"It is all about additional transparency for the consumer," said Halstead Property CEO Diane M. Ramirez.

Not just New York City
Redfin, a real estate brokerage firm operating in almost 30 locations, announced on August 21st that it is taking advantage of 3-D technology. Redfin partnered with Matterport to create their Redfin 3-D Walkthrough product. Additionally, the firm stated the new technology helps Redfin homes sell an average of 10 days faster and at a higher price.

3-D decorating
The Federal Savings Bank was intrigued that this state-of-the-art technology is not limited to walkthroughs for selling homes. First-time home buyers can use 3-D programs to help redecorate their humble abodes. Many companies like Lowes are offering 3-D services. Lowes has the Virtual Room Designer, where homeowners can go online, reinvent their rooms in the program and then make changes to decide what redecorating or renovations they would truly like to take on.

Now, homeowners can see what they'll be getting before they hire a contractor or start painting their walls the wrong shade of green.

Homeowners don't have to work with a big business either. They can download free virtual design software online or purchase a more robust program to use at home, according to Home Stratosphere. Options like HomeStyler and Space Designer are free, and both can be used directly from the website so there is no need to download them.

First-time home buyers should contact the Federal Savings Bank, a veteran owned bank, to learn more about low interest rates.

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