More than 80 million US homes are covered
A new lender-grade automated home valuation model has been launched by ATTOM, curator of the one of the nation’s leading property databases.
In partnership with valuation software developer AVM Analytics, the ATTOMIZED AVM provides valuations for more than 80 million US homes and is available via ATTOM’s various delivery platforms: bulk file, API, match-and-append, custom reports, and ATTOM Lists.
Rob Barber, CEO of ATTOM Data Solutions says the market for automated valuation models are either costly for all but larger corporations, or free but lacking in functionality.
“The ATTOMIZED AVM targets the big middle between those two extremes, providing the marketplace with a lender-grade AVM delivered via bulk data delivery platforms that are flexible and cost-effective,” he says.
Using various valuation models the product provides estimated home values using a cascading model selection algorithm to select the most appropriate for the surrounding geographical area. It runs regular accuracy checks with actual sale prices.
“What we exclude is important,” said Clifford A. Lipscomb, vice chair and co-managing director with AVM Analytics. “Not only do we exclude certain anomalous property types, but we also exclude the subject property itself, making our monthly accuracy tests a true out-of-sample comparison.”
