What is House Sigma? | Ontario and British Columbia

What is HouseSigma?

Per HouseSigma, they state that they are a “leading technology platform that utilizes artificial intelligence technology to correctly estimate Canadian home values in real time. With one click, home buyers can obtain an accurate automated home valuation for every listing within seconds. The HouseSigma algorithm also correctly identifies similar nearby sold properties to help buyers determine their final offer price!”.

Who Uses HouseSigma?

Although HouseSigma.com requires a user to create an account, it is reasonable to expect that HouseSigma is used by existing homeowners, to-be homeowners, mortgage agents, mortgage brokers, private mortgage lenders, realtors, real estate investors and anyone with interest in the Ontario and British Columbia real estate market.

What Can I Do On HouseSigma’s Home Page?:

On HouseSigma’s homepage, there is a toggle to filter your search for either Ontario or British Columbia, along with tabs for ‘Map Search’ and ‘Market Trends’. Immediately beneath, there is a section to enter in either a Listing #, the address or neighbourhood in question – you can also indicate whether you are looking to search for properties that are ‘For Sale / Sold’, or a section for ‘Home Valuation’ or ‘Recommendations’.

Beneath this, you will find rows that will showcase properties that have been ‘Sold Below Bought’, have generated ‘High Returns’, ‘Featured Listings’,   ‘Just Sold’, ‘Best for Rental Investment’, ‘Best For Schools’, ‘1 Year Price Growth’, as well as ‘GTA Statistics that include data for ‘all property types’ as well as an option to ‘View More Stats’.

What Happens When I Search a Specific Property on HouseSigma? 

Beneath a section of photographs of the subject property that would’ve been uploaded by the listing agent to Multiple Listing Service (MLS) , you will find an array of pertinent and useful information that you can use as a point of reference during your search.

  • The Property Address
  • The Property Municipality
  • The Listing Price
  • The Estimate Value as of a Certain Date
  • How Many Days the Property Has Been Listed For.
  • The Bedroom, Bath, and Garage Count.
  • Buy/Sell History for the Subject Property Including ‘Date Start, Date End, Price, Event and Listing ID’
  • Key Facts Including ‘Property Taxes, Property Type, Square Feet, Condo Fees if Applicable etc.’
  • A Description of the Subject Property.
  • An Aerial Map of the Subject Property.
  • A Mortgage Calculator.
  • A Cashflow Analysis Tool.
  • A Room & Dimension Count.
  • Nearby School Details.
  • Community Statistics.
  • Sold Price Distribution.
  • Property Type Distribution.
  • Demographics by Statistics Canada.
  • & more or less per Listing.

Is HouseSigma the Same as an Appraisal? 

As useful as HouseSigma may be, a HouseSigma report is not a formal substitution for a Real Estate Broker Opinion of Value or an Appraisal for Mortgage Financing purposes. However, HouseSigma is incredibly useful to provide a glimpse into potential real estate values given the ability to toggle specific property locations, attributes, and locations. Remember, this is not the same an appraisal, and if you suggest they use this took in place of an appraisal, you might hear from your lender “What is HouseSigma?”. 

Do Mortgage Brokers and Private Mortgage Lenders use HouseSigma?

Given HouseSigma’s rapid increase in popularity, it is quite reasonable to expect that most Mortgage Brokers and Private Mortgage Lenders in Ontario and British Columbia have welcomes the use of HouseSigma into their preliminary due diligence process. With its ease of use and access from both mobile or desktop devices, there is not much reason why a property or neighbourhood in question is not assessed over a quick HouseSigma search. To be clear, a homeowner or purchaser should not interpret the use of HouseSigma to replace the need for an Appraisal, Broker Opinion of Value, or in-person Lender Site-Inspection. 

How to Create a HouseSigma Account?

On the homepage of www.HouseSigma.com, in the top right corner, click ‘Join’ and you will be prompted to either create account with your Email address, or to create an account with your Mobile Phone. At this stage, you will be prompted to review the Terms of Use and will decide whether you opt to either Agree or Reject. Should you opt to Agree, a verification code will be sent to your email address and you will then enter the code in the text field below. Note that if you are a Licensed Real Estate Agent (Salesperson or Broker), you must disclose this by checking the checkbox and then disclosing whether you are a member of TREBB or if you are not registered with TREBB (Toronto Regional Real Estate Board). 

In summary, if you are asking yourself, What is HouseSigma? feel free to give a try and learn how it might help you and your home searching process. Thank you for taking the time to read about HouseSigma and be sure to visit their website to read the Terms and Conditions and Privacy & Security policies directly and kindly note that we are in no way, directly or indirectly affiliated with HouseSigma. 

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