Automated Valuation Models from LexisNexis!

Need to ascertain the value of a specific piece of real estate?  Now you can - with just one search!

Source Path Location: Public Records > Find Assets > Automated Valuation Models

The Automated Valuation Models can be used to determine real estate value during the initial stages of due diligence and during the initial stages of investigating a real estate transaction. In addition, it can be used to determine an opposing party's assets as well as determine an estimated valuation for a family residence for estate planning or divorce purposes, and more. Please note that this search augments but does not replace the need to hire an appraiser. 

An Automated Valuation Model (AVM) search provides 3 models for valuation of a piece of real estate: 

1. Price Index Valuation-(only residential properties that have a prior recorded sale since 1995).  Based upon the prior sales price and prior sales date, we estimate the current property value by appreciating the historical sales price to current based on a measure of property value appreciation over time. LexisNexis considers the quarterly historical property appreciation rates for each state and county.

2. Tax Assessor Valuation-The Tax Assessor Index estimates the market value of a property from its tax-assessed value. For each county, we analyze the relationship of recent property sales to their tax-assessed value in order to understand the relationship of tax value to market value in that locality. This is done at the county level to control for differences in valuation methods and policy rules imposed by local taxing authority. Separate tax-value to market-value ratios are calculated for different property classes and segments.

3. Hedonic Valuation-The hedonic property value model estimates the value of a subject property based on the actual sales price of similar, nearby properties that sold in the past year. Comparable properties are selected based on their property characteristics (bedrooms, baths, year built, size, etc.) and the physical distance from the subject property. A minimum number of comparable properties are required to estimate the hedonic model.

The automated valuation model also provides a combined valuation, based upon the combination of all three of the models listed above. In addition, a confidence value score is assigned to the final AVM estimate reflecting the relative accuracy of that estimate, based on the availability and quality of data going into each method and the relative accuracy of each method for the subject's local geography. Confidence values range from 0 to 100, with higher values reflecting a higher probability of accuracy.

Most documents contain the following:

• AVM Results
• Comparable Sales
• Nearby Sales
• Transaction History
• Property Summary

Want more information or need assistance in running your report?  Kindly contact your LexisNexis Representative today!

Happy Researching!

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