Client Uses New Automated Tool to Evaluate over 1 million Loans
Honolulu, HI – Collateral Analytics, a residential real estate valuation and analytics firm, announced today the release of an automated valuation model (AVM) that uses both public records and local market data to produce estimates of value and local market conditions analysis.
Called the Local Market Evaluator, the new AVM is unique to the industry because it uses local listing and sold data gathered locally in addition to public records deeds data to produce more accurate and timely results. The AVM was developed by Dr. Michael Sklarz, one of the leadingvaluation experts in the country, and is powered by Collateral Analytics.
The local market AVM is also unique in that it provides real time maps of comparables sales that can be broken out by the type of sale – distinguishing bank‐owned or distressed sales from normal sales activity. The product can also go back in time to produce a “Retro AVM” that uses local sales and listings that were available at a previous point in time.
The AVM can be ordered individually or in batch mode and is available in over 75% of US markets. Pricing is available upon request and is based on volume.