Altos Research Launches Altos Lens, A Crystal Ball iPhone App That Predicts The Future Condition Of A House
March 31, 2011 (Mountain View, CA) – Altos Research has launched a revolutionary iPhone app that is destined to change the distressed real estate landscape forever. The Altos Lens app allows anyone with an iPhone to point the camera at a distressed house and see the condition of the house up to one year in the future. It’s a crystal ball for property conditions and will help buyers, lenders, municipalities, and real estate professionals properly assess a property’s future condition.
A member of the development team said, “When you’re dealing with distressed housing, it’s important to know what a house is going to look like after the residents trash it during the eviction process. Our future-looking augmented reality app solves that problem. You can see the future condition of the house through the lens of your iPhone without ever going inside. It’s brilliant.”
CEO and co-founder Mike Simonsen said, “We have grown to a point where we needed to provide something more than just the data. An iPhone app that could predict the future condition of a house seemed like a logical progression.”
San Francisco People’s Bank President Toby Chadwick loves the idea. “How are we supposed to lend money for a person to buy a house if we can see that the roof will be caving-in nine months from now? It’s ludicrous to think a bank would take such a risk. This app will save us millions.”
App features include:
- Condition of the house up to 12 months in the future.
- X-ray photos of the interior of the house instantly downloaded to your iPhone.
- What the paint will look like as it ages and peels.
- In heavy foreclosure areas, it shows which appliances and fixtures will be removed once the residents are forcibly evicted.
The x-ray vision feature is ideal for drive-by BPOs, agents on the go, and creepy stalkers. Additionally, an updated version of the app is in the works with enhancements such as check-ins, badges, and tagging, so real estate professionals can earn points and impress their peers with their achievements.
“It’s like a Klout score for distressed housing. The ‘Cash-For-Keys’ badge is easy to earn, but the ‘Sherriff’s Eviction’ badge is a tough one. It takes dedication to get there,” says Simonsen.
In addition to the public-facing app features, Altos has hundreds of people overseas who manually process any x-ray photos of the houses which are not immediately recognizable. It’s all done in the Amazon cloud so it scales well on the weekends when mobile traffic spikes.
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