What is Home Bot? Why You Need to Know About It for Your Albuquerque Home

What is Home Bot? Why You Need to Know About It for Your Albuquerque Home

(Transcript Snippet): “Tracy:

Tego Home Bot. Yes. What’s Home Bot. And why, why do we want our listeners to know about it? So

Tego:

We have a program that will help you track your home equity. I think that’s the easiest way to do it. The, the, another way to say it is what is, what’s your, what’s your home wealth, right? How much wealth do you have in your home or tied up in your home, I guess would be a way to say it as well.

Tracy:

And there’s a lot of reasons why people might wanna know that not that they have to be ready to sell their home, but just tracking their net worth their equity yeah. In their home is pretty important.

Tego:

I think tracking your net worth is, is such a important thing to do to, you know, kind of get the big picture of where you’re at. And if you don’t know what your, your equity in your home is you, that that’s,

Tracy:

That’s a

Tego:

Piece of it. It’s a big piece of it. The thing is for most people, the biggest asset, the biggest wealth that they have is in their home, in their real estate.

Tracy:

Right. So home bot.

Tego:

Yeah. So home bot, if you, if you’re interested in, in signing up for it’s a program you just plug in your address, we’ll send you a, what’s called an AVM, which is an automated valuation like modeling. So it kind of just looks at what homes have sold for in the air. However, we can tweak that and adjust it to the current market. If, if need be, sometimes it’s really close, sometimes it’s really off, but that can be adjusted. But once you have that baseline set of your current market value, it will automatically update you on, you know, how much home prices have changed and, or home much your home price has changed and give you an idea and track your, your wealth.

Tracy:

And so it’s an ongoing track. It’s ongoing thing. So somebody can watch it over time and see how the, the price of their property or their equity might change based on what they’re paying down and the value of the property. Exactly.

Tego:

So it’s a quick snapshot of your home equity, and, and again, you are tracking your home wealth. One, one thing about equity. I just wanna point out, of course, you know, on Twitter the, you know, these economists or different people that I follow, you know, there there’s a lot of people, you know, freaking out because mortgage debt is, is pretty high. It’s much higher than it has been in the long time. How home equity is at an all time high by far in the United States. So people have a lot of equity in their property. The last stat I saw on New Mexico, Tracy is on average people in New Mexico gained $33,000 in equity over the last 12 months.

Tracy:

Wow. That’s great. I would wanna see our home bot for sure, right? Yeah,

Tego:

Yeah, no, no, absolutely. Oh, I I’ve got it. I just don’t share it with you.

Tracy:

Yeah, I’m sure you do. I’m sure you’ve looked at it. Of course, of course. Okay.