SAN FRANCISCO, Calif. – September 21, 2017 – HouseCanary, the leading provider of modern valuation and appraisal solutions, today announced Agile AppraisalTM, a fast, flexible valuation platform with full USPAP and FIRREA compliance that is the flagship offering in HouseCanary’s Valuation Suite.
Agile Appraisal connects users to a network of certified, geographically competent appraisers who are available on demand. The speed and efficiency of the new system allows users to cut the time needed for an appraisal to as little as five days, and is more affordable than the traditional process. The platform leverages HouseCanary’s proprietary nationwide analytics and technology-enabled quality control to offer customers standardized and reliable appraisals, backed by the most complete data set in U.S. real estate, with full USPAP and FIRREA compliance.
“The world of valuation is radically changing, with users demanding reliable data available 24/7, and our ability to derive insights from the massive pools of data is revolutionizing human-based valuations,” explained Alex Villacorta, Executive Vice President of Analytics at HouseCanary. “Instead of relying solely on census tract data, and by putting insights in appraisers’ hands, we can empower them to address the most salient market issues quicker than ever before, and with next-level precision. This game changing efficiency allows for a faster turnaround time and reduced revisions, making Agile Appraisal essential for market participants who want to stay ahead of the curve.”
Agile AppraisalTM is transformative for investors and lenders with large portfolios, providing the most confident and supported appraisal available. In addition to using the industry’s most robust data set and consistent analytics, the tool elevates human review, combining the expertise of both local inspectors and certified appraisers to maintain unmatched quality control. Agile AppraisalTM uses regression-based adjustments for location, time, and property characteristics, all while leveraging accurate automated valuation models (AVMs) and block-level valuation ranges to conduct automated checks of the final value.
“Lenders and investors need a faster way to get properties reliably appraised while avoiding the high costs of a 2055 or 1004,” said Jeremy Sicklick, CEO and co-founder of HouseCanary. “With Agile Appraisal, we set out to do just that, and I can proudly say we exceeded even our own expectations. No longer will lenders or investors have to rely on brokers to value the properties in their portfolio or overpay for the confidence that comes with more comprehensive options.”
Agile AppraisalTM is the flagship product in HouseCanary’s Valuation Suite, which offers the most accurate and analytically rich valuation tools across the full range of property circumstances and completion times desired by the client. These include AVMs, Value Reports used for desktop review, Value Reports with Inspection, and now Agile Appraisals.
Founded in 2013, HouseCanary’s mission is to help people make better real estate decisions. Built on a foundation of great data, powerful models, and predictive analytics, the HouseCanary platform aggregates millions of data elements, including more than four decades of property data and a rapidly expanding arsenal of proprietary calculations and analytics, to accurately define and forecast values and market influences. HouseCanary is financed by notable investors including Hillspire (Alphabet Executive Chairman Eric Schmidt’s family office), Alpha Edison, ECA Ventures, Raven Ventures and other top Silicon Valley investors. The company is headquartered in San Francisco. For more information about HouseCanary, please visit www.housecanary.com.
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