An Automated Valuation Model You Can Count On!
To gauge the accuracy of the automated valuation model, we have compared our AVM values to actual sale prices around your subject property over a recent three month period.
Anyone in real estate investing relies on multiple sources of data to make decisions, assess markets and sign off on contracts. This takes time, effort and a keen eye for detail. There is an old way of doing all of this, and there is a new way. Let us explain.
Meet Bob. Bob has been a real estate investor for years. Every week Bob trawls through websites, downloads data, assess valuations, calculates offers, and then passes all of these tasks through a ‘sausage factory’ of sorts that spits out offers on deals, where he can print things off to send. He prints offers and he prints neighbor letters, or he outsourced this and has to manage the tasks. Bob wastes (yes, wastes!) about 15 hours a week on this.
Bob goes along to his local REIA meeting and he’s tired and confused. He talks with a friend of his, Gillian, and she is full of energy and super excited!
“What’s your secret?! You’re usually exhausted like me every time I see you!” Bob asks.
Gillian replies; “Well Bob. I just discovered the best kept secret in real estate. It’s what all the big end of town Lender and Insurance companies use to assess property values - and now it’s PUBLIC for investors like you and I, Bob!”
“I’m all ears - tell me more!” Bob said
“It’s called an Automated Valuation Model, or AVM, and it has literally changed the way I do business and my growth in deal flow. Using the AVM, I can now see everything I need, in one place. No more lists, no more manual calculations, no more comps…. This is a numbers game and having access to an AVM gives me all the numbers I need.” Bob was intrigued. How could he get access to this AVM too?
Introducing The AVM For Everyone.
Do More Deals With Confidence and Accuracy
Lender Grade Property Valuations at Affordable Rates. Thanks to the vast national coverage of our property data, Neighbor Letters is able to fill the gap between overpriced lender-grade property valuations that are only cost-effective for large corporate users, and deliver our real estate automated valuations model at a more consumer-grade price level that will give you confidence in pricing your properties.
Making our AVM accessible for all real estate investors and enthusiasts alike.
Do More Deals With Confidence and Accuracy
Now you can also have access to more than 154+ million properties in our database across all 50 states at the click of a button. Our platform gives you data for 99% of the US population, with our Automated Valuation Model Analytics, our property AVM.
Utilizes and analyses multiple AVM models to choose the modeling approach that is most accurate to the geographic area surrounding the individual property.
Eliminates mobile homes, multi-million dollar homes, farms or agricultural land and large multi-unit rental properties from the calculations to ensure you get the real data you need
Limits valuation to only core asset classes of single-family homes, condominiums, small multiple family properties (one-to-four units) and vacant land, a total of 80+ million properties.
Requires a minimum of 15 comparable properties and may use as many as 100 properties to generate its estimates.
Confidence Matters
When using the AVM, you receive a unique confidence score, based on criteria that determines accuracy of the AVM. The precision of the AVM data will measure the deviation between the range of values and the point value itself.
To provide the most transparent measure of variability in the estimates, we provide the larger of differences between the low and high value and point estimate. This not only gives you confidence in the numbers, but confidence in your real estate decisions.
Accuracy You Can
To gauge the accuracy of the automated valuation model, we have compared our AVM values to actual sale prices around your subject property over a recent three month period.
We provide you detailed charts which highlight the overall distribution of the absolute differences between our AVM values and observed sale prices. This gives you accurate visibility of highs, lows and market medians.
