Automated Valuation Models (AVMs)
Receive Efficient & Consistent Valuations
AVMs (Automated Valuation Model) are statistically based computer programs that use real estate information such as comparable sales, property characteristics, tax assessments and price trends to provide an estimate of value for a specific property.
Automated Valuation Models vs. Traditional Real Estate Appraisals:
- Speed – significantly reduces the time it takes to obtain a value estimation
- Reduced costs
Xactus Automated Valuation Models offer you these benefits:
- Nationwide coverage
- Completely web-based program
- Integrated ordering process
- Instant return
- Tax assessor’s indication of value, if available
- Information on the subject property and recent sales history
- Comparable sales analysis of similar properties
This report returns a valuation, value range, market analysis along with a map of the property and comparables. A unique feature of this report is the option to enter an estimated value for the property, with the system returning the probability of attaining the estimated value entered.
This low-cost report leverages the same valuation model and nationwide coverage to instantly return a valuation and confidence score. This basic approach provides an economic way to access a valuation benchmark.
Combines four industry-leading AVMs, developed and maintained by CoreLogic.
GeoAVM Core Plus
Incorporates Home Value Explorer (HVE) from Freddie Mac with four AVMs from CoreLogic.
A fourth-generation AVM that uses appraisal emulation, location, conformal mapping, repeat sales indices, heuristic and patented neural-net technology to yield superior accuracy.
CoreLogic’s PASS is paired with the largest online property and ownership database in the nation. PASS® uses a hedonic-based model to calculate comparisons with appraisal logic, price-time indexing and various statistical methods to arrive at an accurate and reliable property valuation. PASS coverage includes more than 2,900 counties and nationwide coverage extends to more than 97% of all U.S. transactions.
Home Price Analyzer
CoreLogic’s HPA (Home Price Analyzer) is a hybrid AVM that searches from more than 200 million historical residential sales records using three independent methods: hedonic, location-based and index-based. Data options include an alert identifying properties that have sold more than once in the past two years, and those with an unusually high level of appreciation.
A hybrid AVM that combines the logic behind PASS and HPA to deliver the best of both–high fulfillment rate and accuracy.
Freddie Mac: Home Value Explorer
This tool generates an estimate of property value in seconds, encompassing several models rolled into a single product for one low cost. Using Freddie Mac’s unique algorithm, HVE provides extensive coverage and simplifies the mortgage process by streamlining the collateral valuation cycle.