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Data company drills into local real estate in real-time

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A real estate data company has launched live market information for five major U.S. metro areas. Altos Research Corp., based in California's Silicon Valley, scans Internet Web sites for information about for-sale properties and converts that raw data into charts and reports for its subscribers. The company does not subscribe to multiple listing services. While some industry sources for statistics have a lag time of a month or more based on how the information is reported and collected, Altos Research targets real-time data based on the current inventory of for-sale properties. The company captures a range of information about broker-listed for-sale properties. "The properties are advertised and we aggregate a whole bunch together," said Michael Simonsen, co-founder, president and CEO of Altos Research who has 15 years of experience in software development and product management. The company provides a real-time market snapshot for various geographic areas. This week, Altos Resear...