1.) What makes Xima different from other property search programs? Xima is the only tool that allows you to search for residential properties by equity.
2.) How does Xima determine Equity or D. Equity? Xima determines equity by looking at the market value of the property (market value is determined by calculating the median price of the properties within + or -10% square feet, .5 miles, that have sold in the last 12 months) and comparing market value to the total debt that is recorded for the property on Public Records.
The formula is:
Debt Equity = 100% * (Market Value – Total Debt)/Market Value
3.) What is P. Equity? What we are trying to determine here is if there is equity based on what the asking price for the home is vs what has sold recently.
The formula is:
Potential Equity = 100% * (Market Value – Listing Price)/Market Value
4.) What is A. Equity? What we are trying to determine here is if there is any equity in the property based what the active comps are selling for compared to what the listing price is.
The formula is:
Active Equity = 100% * (Active Value – Listing Price) / Active Value
5.) How often does Xima update the data? The data is updated on a weekly basis.
6.) How much does it cost to purchase one county? $80 is the standard price. $60 if you have a promotion code.
7.) If I purchase more than one county can I get a discount? Yes you can, $149 is the standard price for all counties (we have 24 so far), Only $99 if you have a promotion code.
8.) How do I register to start using Xima? Go to www.ximausa.com and click on Register Now! To obtain the promotion enter the code 1615.
9.) How quickly after I register online can I start using Xima? Immediately after you enter your information online, fill in your credit card information, and complete the registration process you will be given access to start using Xima.
10.) What if I want to learn more about Xima how do I do that? By simply clicking on the training link at top Xima's homepage.
Also, you can learn more about Xima by attending our weekly webinar trainings that are on Friday mornings at 10:00 A.M. http://www.map2equity.com/training.
11.) How do I get a hold of customer support? By either clicking on Contact Us or by clicking on the Live Support icon at the top of the home page or contact us at: ximausa@gmail.com
12.) How do I search for pre-foreclosure properties that have equity?
• After you log in click on the public records tab in the upper left hand corner
• Select the county or the zip code that you want to do the search in.
(Keep in mind that you can do a search by map-to search by map all you have to do is click on the small green state of Florida icon in the upper right hand corner of your screen before you do any of the steps below)
(Keep in mind that you can do a search by map-to search by map all you have to do is click on the small green state of Florida icon in the upper right hand corner of your screen before you do any of the steps below)
• Then select pre-foreclosure under the foreclosure tab.
• Then select Equal or greater under the D. Equity tab and put a 40 in the box next to the tab.
• If you do not want properties that are for sale by a Realtor in your list then select no under the For Sale tab.
• Click on the Search Button
In the old XimaUsa interface, you used to be able to search for Pre-Foreclosures that were NOT Sold; there was a tab for "Sold" and you would select "NO."
ReplyDeleteI can't find that tab in the new interface; therefore, when I look at pre-foreclosures, I'm looking at properties that have been bought by other investors already. Any ideas on how I can avoid that?
Thanks!