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Frequently Asked Questions

Who is Radar Logic?
What does Radar Logic do?
What is RPX™?
What is the Radar Logic Daily™ Price?
How are the Prices used?
How are the Prices measured?
What is included in the Prices?
What Prices are published?
When are the Prices published?
Who uses the Prices?
Where can I find the Prices?
How quickly do the Prices reflect rapidly changing market conditions?
Does it matter how long it has been since a house was last sold?
Will Radar Logic offer Commercial Real Estate Prices?
What are derivatives markets?
Are there map outlines of the different MSAs available on your website?
Does the map match exactly with your MSA/county definitions?

 

Who is Radar Logic?
Radar Logic is a technology-driven research and analytics business founded for the purpose of enabling financial derivatives based on real estate.
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What does Radar Logic do?
Radar Logic uses state-of-the-art mathematical techniques to create Daily Prices derived from the actual prices paid for real estate.  We are initially focused on residential real estate.
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What is RPX™?
The Residential Property Index™ (RPX) is the market in which financial instruments based on the Radar Logic Daily Prices are traded by licensed dealers and their clients.
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What is the Radar Logic Daily™ Price?
The Radar Logic Daily Price is a single value representing the price per square foot paid in a defined metropolitan area on any given day.  Data are gathered from public source records and then translated by our proprietary algorithms into a statistically accurate and robust reflection of the values paid in actual arm's-length real estate transactions.
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How are the Prices used?
The Radar Logic Daily Prices are licensed as the basis for the development of real estate forwards and options derivatives and structured financial products.  These financial instruments are in turn used to manage risk, create new products, and take positions regarding the direction of the real estate market.
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How are the Prices measured?
Prices are measured in price per square foot (PPSF), a common metric used by brokers, builders and other real estate professionals.
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What is included in the Prices?
Radar Logic includes every valid, arm's-length sale available to us within 63 days of its "closing" date, including new homes, condominiums, cooperatives, house "flips", even foreclosures.  Records must include sale price, square footage and a closing date.  No arbitrary restraints or exclusions are imposed on the raw data – what's sold is what's measured.
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What Prices are published?
Radar Logic Daily Prices are published for 25 major metropolitan areas in the United States and the Manhattan Condominium market.  In addition, we publish a Composite representing all 25 MSAs.  We intend to expand our coverage to include more metropolitan areas. To see the areas currently covered, click here.
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When are the Prices published?
The Daily Prices are published each business day to provide a "spot market" price for real estate.  We impose a 63-day lag between the sale date and the publication of prices for that sale date to allow us to capture the majority of transactions that have occurred.
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Who uses the Prices?
Radar Logic's end users are primarily institutions engaged in or supporting the real estate industry as well as sophisticated financial institutions. These may include:
- Home Builders
- Real Estate Developers
- Commercial Lenders
- REITs
- Real Estate Brokerage firms
- Pension Funds
- Hedge Funds
- Insurance Companies
- Other Financial Institutions
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Where can I find the Prices?
We publish the Daily Prices on our website, www.radarlogic.com.  To view them, click on the "Daily Prices" button on any of our web pages.
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How quickly do the Prices reflect rapidly changing market conditions?
The Radar Logic Daily Prices are published each business day, as soon as possible after public record reporting of actual closings (a lag of not more than 63 days for the metropolitan areas we cover).  The prices represent the best surrogate available for a "spot market" for residential real estate.
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Does it matter how long it has been since a house was last sold?
It makes no difference.  Rather than interpreting select elements of the data available, the Daily Price is a representation of the statistical value evident in the full data.
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Will Radar Logic offer Commercial Real Estate Prices?
Plans are underway to publish Radar Logic Commercial Prices.  More details will follow.
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What are derivatives markets?
A derivative is a financial instrument used to trade or manage the asset upon which the instrument is based.  It "derives" its value from something else (another asset or instrument).  Derivatives are most often used to manage risk or to take positions on future market directions.

Derivatives exist for a wide range of assets, such as commodities (gold, oil, corn), stocks and bonds, and on indexes, such as the Dow Jones Index®.  Until now, there have been few derivatives markets for residential real estate.  Radar Logic Incorporated was founded for the purpose of enabling financial derivatives based on real estate.
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Are there map outlines of the different MSAs available on your website?
We do not have them on our site at the moment, but the Census Bureau has a good library at: http://www.census.gov/geo/www/maps/CP_MapProducts.htm (note the section titled “Metropolitan Areas Maps”).
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Does the map match exactly with your MSA/county definitions?
Yes, for everywhere except New York (where we include Fairfield County, CT).  Note that some MSAs are comprised of multiple metropolitan divisions.  We therefore recommend consulting the county lists in the MSA disclosures.
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