AVM zeros in on accuracy, hit rate

October 22, 2002

Combines multiple statistical approaches with reconciliation stage for each county


Inman News Features

First American Real Estate Solutions today released ValuePoint4, an automated valuation model that employs proprietary logic to combine multiple statistical approaches and a reconciliation stage for each county.

The AVM produces property valuations using real-time public record data, site-inspected property characteristic data obtained from appraisal and Multiple Listing Service databases and historical sales/appraised value information.

ValuePoint4 enables users to produce residential value estimates for a single property or thousands of properties that comprise a mortgage portfolio. Users can perform a current market valuation using a current database, or request an historical property valuation to determine the validity of a prior sales price or appraised value estimate. Customers also can incorporate their own historical appraised values and other customer-specific property information into the proprietary ValuePoint4 database.

ValuePoint4 also features logic that analyzes the transaction history of the subject property and every comparable sale to highlight valuations that incorporate repeated transfers in a limited period of time, enabling users to isolate and investigate valuations that may be relying on artificially inflated market sales data.

First American Real Estate Solutions, a member of The First American Family of Companies, is a provider of advanced property and ownership information and applications.

Copyright: Inman News Service


Contact ALTA at 202-296-3671 or communications@alta.org.

SoftPro, based in Raleigh, NC, offers a mature suite of products, designed specifically for the closing and title industry. Our mission is to serve our client base, with best-in-class products and services. Our products are modular so we don't force you to buy anything you don't need. You can always add on as your business grows. Unlike other software companies, we view the sale as the beginning of the relationship rather than the end. North American Title Insurance Company (NATIC) is a seasoned title insurance underwriter, helping title agents to achieve their individual business goals for more than 50 years. Today, the company conducts real estate settlement services in 39 states and the District of Columbia through a network of experienced, independent agents.