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	<title>Comments on: Will people ever buy homes online?</title>
	<link>http://psyne.net/blog4/2007/09/15/will-people-ever-buy-homes-online/</link>
	<description>Real Tech from the Trenches</description>
	<pubDate>Fri, 21 Nov 2008 03:01:34 +0000</pubDate>
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		<title>By: Michael Seguin</title>
		<link>http://psyne.net/blog4/2007/09/15/will-people-ever-buy-homes-online/#comment-38</link>
		<dc:creator>Michael Seguin</dc:creator>
		<pubDate>Sat, 15 Sep 2007 17:49:17 +0000</pubDate>
		<guid>http://psyne.net/blog4/2007/09/15/will-people-ever-buy-homes-online/#comment-38</guid>
		<description>The cave I could build now.  I was lucky enough to watch one of the very first caves built when my brother worked in the Naval Architecture and Marine engineering department for the University of Michigan.  This was back in 1990 using high end SGI workstations and very expensive (at the time) 1 megapixel steroscopic lenses on a boom.  Technology has come a long way since then, specifically in the horsepower/rendering department and in the cost of imaging and display solutions.  A quick google search shows that not only are there already caves available commercially, but someone has built a nice mobile version in a semi trailer: http://www.fakespacesystems.com/mobileFlex.htm

The 'virtureal' projector for genuine 3-D imaging is a ways off, I will admit.
;-)

~Locke</description>
		<content:encoded><![CDATA[<p>The cave I could build now.  I was lucky enough to watch one of the very first caves built when my brother worked in the Naval Architecture and Marine engineering department for the University of Michigan.  This was back in 1990 using high end SGI workstations and very expensive (at the time) 1 megapixel steroscopic lenses on a boom.  Technology has come a long way since then, specifically in the horsepower/rendering department and in the cost of imaging and display solutions.  A quick google search shows that not only are there already caves available commercially, but someone has built a nice mobile version in a semi trailer: <a href="http://www.fakespacesystems.com/mobileFlex.htm" rel="nofollow">http://www.fakespacesystems.com/mobileFlex.htm</a></p>
<p>The &#8216;virtureal&#8217; projector for genuine 3-D imaging is a ways off, I will admit.<br />
 <img src='http://psyne.net/blog4/wp-includes/images/smilies/icon_wink.gif' alt=';-)' class='wp-smiley' /> </p>
<p>~Locke</p>
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		<title>By: Mark Flavin</title>
		<link>http://psyne.net/blog4/2007/09/15/will-people-ever-buy-homes-online/#comment-35</link>
		<dc:creator>Mark Flavin</dc:creator>
		<pubDate>Sat, 15 Sep 2007 16:52:59 +0000</pubDate>
		<guid>http://psyne.net/blog4/2007/09/15/will-people-ever-buy-homes-online/#comment-35</guid>
		<description>Excellent perspective Mike, and when you get your virtual cave setup let me know :)</description>
		<content:encoded><![CDATA[<p>Excellent perspective Mike, and when you get your virtual cave setup let me know <img src='http://psyne.net/blog4/wp-includes/images/smilies/icon_smile.gif' alt=':)' class='wp-smiley' /></p>
]]></content:encoded>
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	<item>
		<title>By: Michael Seguin</title>
		<link>http://psyne.net/blog4/2007/09/15/will-people-ever-buy-homes-online/#comment-34</link>
		<dc:creator>Michael Seguin</dc:creator>
		<pubDate>Sat, 15 Sep 2007 15:48:16 +0000</pubDate>
		<guid>http://psyne.net/blog4/2007/09/15/will-people-ever-buy-homes-online/#comment-34</guid>
		<description>I will add this as counterpoint.  I think that a certain percentage of residential home property transactions will occur online, and in fact already are.

Certainly REO and foreclosure properties have been transacted for online.  This is not the focus of Mark's article, however.  

The question that he is posing is 'Will the prototypical homebuying consumer ever buy the house that they are actually going to live in 'sight unseen'?

I say yes.  And moreover, I think that the this will only empower the local REALTOR.

Because of course, it is not sight unseen.  Mark makes a good point - I certainly wouldn't be likely to buy a home without visiting it in person with the 'virtual alternatives' available to me now.  By virtual alternatives I mean the photos, virtual tours, illustrations, and other media that professionals work to collect and post as a part of properly marketing a home.

But we can do better than that.  We need to imagine what it is like to go beyond two dimensional 'virtual reality.'

Lets flash forward five years.  Computing horsepower and graphic technology has grown so affordable that I, the local REALTOR, have built a cave in my office for about what your currently pay for a great pc.

By cave, of course, I am referring not to a Paleolithic rock feature, but a 'virtual reality cave.' 

Moreover I am taking advantage of the breakthroughs in high resolution 3d projected (lasered) projectors (http://www.pinktentacle.com/2006/02/aist-develops-3d-image-projector/).  A laser focuses at a programmatically defined point in space and ignites the nitrogen and oxygen molecules in that precise focal point.  It then moves on to the next point in a kind of real time 3D (and I am going to have to coin a term here) 'virtureal' projector.

So on the walls we have very high resolution images of the exterior neighborhood (when you are 'walking' outside the house), and of the interior of the home (when you are inside).  In the empty space between the walls Key 3D details are filled in by virtureal projection.

So most days I spend alternating between working to acquire the high quality video walkthroughs that power my true virtual tours, and walking clients through as many homes as they want to see without ever leaving my office.

My clients spend on average an hour in the cave, standing or seated, while viewing properties.  A 'home tour' can be done in as little as 30 seconds (if you don't like what you see), or a buyer can spend hours viewing the details of the house that I recorded just last week.

This is all made possible, of course, by the fact that the local REALTOR knows what the buyer is looking for in the houses they show, and so have taken the time to properly record those details with high resolution cameras.

Will most people actually ever make the purchase at that point without ever visiting the home?  Of course not, under most circumstances.  But under a handful of scenarios buyers might certainly make an initial offer on a home under these circumstances.  If nothing more, it may prove to be a great way to narrow the field of prospective homes to visit by 'virtureally' visiting them.</description>
		<content:encoded><![CDATA[<p>I will add this as counterpoint.  I think that a certain percentage of residential home property transactions will occur online, and in fact already are.</p>
<p>Certainly REO and foreclosure properties have been transacted for online.  This is not the focus of Mark&#8217;s article, however.  </p>
<p>The question that he is posing is &#8216;Will the prototypical homebuying consumer ever buy the house that they are actually going to live in &#8217;sight unseen&#8217;?</p>
<p>I say yes.  And moreover, I think that the this will only empower the local REALTOR.</p>
<p>Because of course, it is not sight unseen.  Mark makes a good point - I certainly wouldn&#8217;t be likely to buy a home without visiting it in person with the &#8216;virtual alternatives&#8217; available to me now.  By virtual alternatives I mean the photos, virtual tours, illustrations, and other media that professionals work to collect and post as a part of properly marketing a home.</p>
<p>But we can do better than that.  We need to imagine what it is like to go beyond two dimensional &#8216;virtual reality.&#8217;</p>
<p>Lets flash forward five years.  Computing horsepower and graphic technology has grown so affordable that I, the local REALTOR, have built a cave in my office for about what your currently pay for a great pc.</p>
<p>By cave, of course, I am referring not to a Paleolithic rock feature, but a &#8216;virtual reality cave.&#8217; </p>
<p>Moreover I am taking advantage of the breakthroughs in high resolution 3d projected (lasered) projectors (http://www.pinktentacle.com/2006/02/aist-develops-3d-image-projector/).  A laser focuses at a programmatically defined point in space and ignites the nitrogen and oxygen molecules in that precise focal point.  It then moves on to the next point in a kind of real time 3D (and I am going to have to coin a term here) &#8216;virtureal&#8217; projector.</p>
<p>So on the walls we have very high resolution images of the exterior neighborhood (when you are &#8216;walking&#8217; outside the house), and of the interior of the home (when you are inside).  In the empty space between the walls Key 3D details are filled in by virtureal projection.</p>
<p>So most days I spend alternating between working to acquire the high quality video walkthroughs that power my true virtual tours, and walking clients through as many homes as they want to see without ever leaving my office.</p>
<p>My clients spend on average an hour in the cave, standing or seated, while viewing properties.  A &#8216;home tour&#8217; can be done in as little as 30 seconds (if you don&#8217;t like what you see), or a buyer can spend hours viewing the details of the house that I recorded just last week.</p>
<p>This is all made possible, of course, by the fact that the local REALTOR knows what the buyer is looking for in the houses they show, and so have taken the time to properly record those details with high resolution cameras.</p>
<p>Will most people actually ever make the purchase at that point without ever visiting the home?  Of course not, under most circumstances.  But under a handful of scenarios buyers might certainly make an initial offer on a home under these circumstances.  If nothing more, it may prove to be a great way to narrow the field of prospective homes to visit by &#8216;virtureally&#8217; visiting them.</p>
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