Assessor values. ATTOM AVM. Estimated Home Equity and Loan to value. Estimated Sales Values. How can you use these real estate valuation data tools to gain a competitive edge?
Click here to listen to this webinar featuring in-depth insight from ATTOM Data Solutions VP of Product Management, Sean Mooney, as he discusses the various real estate valuation datasets that ATTOM provides and how they are being utilized by customers – from target marketing and mortgage lending, to appraisals, content display for real estate portals, and lender pre-qualification.
A few of the key points Sean explores during this webinar include how assessors determine property values, how assessor values allow local governments to impose property taxes, and how assessors provide values for land and improvements.
Sean also differentiates between the two types of assessor values: Assessed Value, which is the dollar amount for tax purposes, and usually lower than market value; and Market Value, which is how the county assessor defines the market value. According to Sean, Assessed and Market Values are indicators, but not exact depictions, of a property’s market value.
ATTOM, the one-stop shop for premium property data fueling innovation, offers real estate valuation data and other data solutions delivered in a variety of flexible formats, including Bulk Licensing as a flat file or DaaS (a cloud based property data platform that streamlines data management); APIs, which enable access to our data real time for your applications; ATTOM List, a self-service platform to generate marketing lists; Match & Append, append any of our data sets to your file; market trend reports, which offer on demand reports that highlight market trends; and a hybrid option, a mix of any options above to get the most optimal data solution based on your business needs.
In this webinar, Sean examines the ATTOM AVM, which is focused on single family and condos and built on top of ATTOM’s property and sales database. Sean highlights the multiple models available and the proprietary algorithms for selecting the best value on a submarket basis, as well as the various datasets available, which include Values (AVM, Min and Max Values), Dates, Forecast Standard Deviation (FSD) and Confidence Scores.
Another key point Sean touches on during this webinar is Equity and Loan to Value (LTV). Sean explains how equity is the difference between a home’s current market value and the remaining debt owed on its mortgage. Sean also describes the loan to value (LTV) is the ratio of the loan to the value – i.e., positive equity is any LTV below 100%, and negative equity is any LTV above 100%. Sean notes you need an AVM and Current Loan Balance to calculate equity and LTV. ATTOM’s current loan balance is derived from our Loan Model process.
Lastly, Sean explores Estimated Sales Value, which is applied in non-disclosure states where sales prices are not available, including Alaska, Idaho, Kansas, Louisiana, Mississippi, Missouri (some counties), Montana, New Mexico, North Dakota, Texas, Utah and Wyoming. Sean notes that Estimated Sales Value, which can also be applied in disclosure states where a sales price is not available, estimates only arms-length transactions with first mortgages, while non arms-length transactions (interfamily transfers, quit claims, and standalone mortgages) are excluded. Sean mentions that values are derived with a calculation that is dependent on three major loan types: FHA, VA and Conventional loans.
Want to take see learn more about how ATTOM’s real estate valuation data customers are using this data to gain a competitive edge?
Click here to listen to the entire webinar.