New tool gives homebuyers monthly housing cost estimates. (Technology Update).

A program that runs on Palm-compatible PDA's gives tight estimates of homebuyers' after-tax monthly cost for house, condo or coop and helps brokers make the case for ownership.

EstiCost[TM] from Ideonautics Corporation is a $29.95 program that runs on handheld computers powered by Palm 05, including those made by Palm, Handspring, Sony, IBM and others. Details about the property and about the prospect's down payment and tax bracket are put in, and bottom-line numbers come out.

"Mortgage calculators aren't new," admits Ideonautics president Stephen Walton, "and there are already plenty of them for PDA's. But no other that we've seen addresses after-tax cost so thoroughly and deals fluently with all three of the major types of purchased homes--houses, condominiums and cooperative apartments."

"Our program knows about the different cost components, and their different frequencies, for all three types. Our monthly true-cost calculation not only takes all the obvious factors into account, but also makes an adjustment for loss of interest income on the buyer's down payment"

"The result is the net-net number that matters most to someone shopping for a home. First-time buyers get a figure they can compare directly with their rent, but after-tax monthly cost is an important number for all buyers."

For the broker, EstiCost[TM] is a tool that can reveal a prospect's true price range, helping to focus on the right properties for that client. At an open house, it can help turn unqualified lookers away quietly.

"I use it every day," says one Manhattan broker who started with a beta version.

"The only caveat," Walton says, "is that everyone involved must understand that the program's output is an estimate only. It's no substitute for professional tax advice. But the estimates produced are the best homebuyers will get from anyone but their own tax pros, and those estimates make crucial talking points for brokers."

EstiCost[TM] is available for download for a fully-functioning free two-week trial at www.EstiCost.com or at PalmGear. It is compatible with Palm OS version 3.0 and later, and uses just 40KB of PDA memory. The same download becomes the permanent program after purchase of a $29.95 registration .code, either directly from Ideonautics Corporation at the EstiCost[TM] website or from PalmGear.