LotNova Deploys First-of-its-Kind New Construction Pricing Engine
JANUARY 8, 2021
LotNova launches industry first pricing system that intelligently prices new construction home plans based on lot characteristics, zoning, municipal code, and other factors.
“So matching home plans and real estate listings for potential homebuyers was cool, but we didn’t think it was enough. To that end, we’re thrilled to announce that we have deployed the industry’s first intelligent pricing system for new construction homes,” said David Munaretto, CEO of LotNova.
The system assesses metadata about the plan, the lot, and the community to derive an accurate pricing model. All assumptions are based on publicly available information, which is then validated while completing due diligence for the buyer prior to closing on the sale.
“People just want to know what they can purchase a new construction home for, and there isn’t another resource like this out there that can accurately assess not only the base house cost, but also things like water, sewage, demolition costs, impact fees, and municipal requirements such as fire suppression systems.”
LotNova plans to continue to refine the model as they collect and manage additional housing metadata. The industry lacks metadata at a plan, lot, and community level, and this approach makes LotNova unique in the market.
LotNova is a new construction sales platform that helps buyers choose their dream home and build it in the perfect location. We’re the world’s first matching engine between home plans and active real estate listings. We’re changing the homebuilding industry by making it easier than ever to build the home of your dreams, in the community of your choice.