How Building Permit Data Can Improve the Accuracy of Your Property Valuations as an Appraiser
Determining a property’s market value as an appraiser can be a time-consuming and stressful process. Undertaking data collection and validation using a range of sources – from aerial photos to tax assessor data – often takes a considerable amount of time. As such, ensuring you have easy access to comprehensive and granular property data is key to assuring the accuracy of your valuations and protecting your time.
In addition, ensuring your data sources provide both historic and real-time data on a property, as well as data on any relevant predictions or plans for a home, is important for providing reliable valuations for both sellers and buyers.
Therefore, building permit data is a key component to gaining an accurate look at the value of a property, providing a comprehensive look at any works that have been undertaken on a home or are planned for the future. In this post we explore the value of building permit data for appraisers in more detail.
How Building Permit Data Can Help You as an Appraiser
Ensuring you have access to detailed data on a property is fundamental to providing a timely and accurate appraisal for interested property sellers and buyers looking to determine what to pay for a property or how to set their asking price.
Building permit data is a great resource for property appraisers looking for trustworthy data on a property, as it helps provide an in-depth, historic look at a property. Notably, this data provides detailed insights into any work undertaken on a property – allowing you to gain insights into any remodels and renovations that have previously been undertaken on a building.
Building permit data includes information on the classification of a permit type (such as roofing), the costs of each job, the status of a permit, a summary of the job, as well as the information of the contractors for the project. As such, building permit data provides you with concise, comprehensive data on any jobs undertaken or scheduled for a particular property.
Moreover, as building permit data provides data on current and arranged future home renovation projects, you can also use such data to ensure that your appraisals are up-to-date and reliable.
In addition, building permit data is a strong complement to other kinds of demographic and property data – such as comparable sales data, parcel data, property characteristics data, and neighborhood and demographic data. Furthermore, rather than having to go through the time-consuming process of sourcing this data from different sources, you can save time by partnering with a real estate data provider, such as ATTOM Data Solutions.
A Look at ATTOM’s Building Permit Data
When choosing a provider, it’s important to consider which provider offers the most comprehensive data. As one of the most highly-regarded property data providers on the market, ATTOM’s building permit data is sourced from over 200 million building permits from over 2,000 building departments across the U.S.
Building Permit Data: Offering a Comprehensive Look at the Value of a Home
Building permit data gives you an in-depth look at the value of a property by laying out the details on any past, current, and future property amendments and renovations – helping to guarantee your property valuations are as reflective of the true value of a home as possible.
Combined with ATTOM’s other popular real estate datasets, building permit data is an excellent resource for improving the accuracy and speed of your property valuations.