Digging up property price drops

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Online entrepreneurs can respond to changing economic conditions with a speed unthinkable in the pre-web era. Witness UK startup Propertysnake, which helps buyers find properties whose priced have dropped. While the real estate downturn in the UK hasn’t been as severe as in the US, deeply discounted homes can still be found even in London’s most desirable neighbourhoods. Propertysnake makes the task of finding those homes easier. Users can search by region and by price. But Propertysnake also emphasizes the kind of information savvy realtors and property managers typically hone in on: the number of days a home’s been on the market, for example, the percentage that sellers have reduced their offering, and the number of other homes in the vicinity that have reduced their selling price.

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