We hope this newsletter finds you well... we can't believe summer is already coming to a close! There have been some really interesting developments here at HotPads over the last few months and we introduced some cool new features, so we thought we'd check in to bring you up to date!
HotPads in the News!
HotPads has been in the news a lot lately and been recognized for our progressive knowledge in today's evolving real estate market. We were called on by both Forbes.com and Fox Business for our strategic housing data and Douglas Pope even made two guest appearances on Fox Business News!
Douglas appeared as one of three panelists on Fox Business News to discuss solutions to the housing crisis. In this segment, Fox highlighted Hotpads' unique foreclosure section and accredits HotPads.com as the easiest way to track and view foreclosed homes with our innovative heat map and zooming features.
Much of the press we have received has centered around our "Rent Ratio Heat Maps" and they are indeed one of our hottest new features. House and apartment hunters can use the maps to see whether it makes more sense for them to rent or buy their new place.
The way we calculate the rent ratio is by dividing an area's median house price by annual rent (Median House Price/Annual Rent) If the ratio is too high (generally above 20) it is more expensive to buy than rent, whereas the lower the ratio it generally makes more sense to rent the property.
On the Heat Maps, we make it easy by using red where it makes more sense to rent, while the blue indicates areas where it makes more sense to buy. You can also use the map key to view all of the houses in between and make your decision based on the ratio. With this new feature we make it easy for our users to make financial decisions like a real estate tycoon.
We have added some great new team members in recent weeks and are excited to introduce them!
Lee Garfield (VP of Advertising Sales NY) Jonathan Bates (VP of Media Sales NY) Justin Rodante (Systems & Tech)
As we have added new team members, we will also have to say goodbye to our wonderful team of Marketing Interns. Thank you Elyce, Francisco, and David for a great summer!
Once again, thank you so much for your continued support of HotPads. Please do not hesitate to contact us if you have any comments, suggestions, or concerns.
Have a great end to your summer!
Sincerely, --The Team at HotPads
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