PACETM is a unique analytics tool that will accurately predict market value on properties whether in portfolios, in foreclosure, or lender-owned. Analysis has proven the tool predicts very accurately in post-mortem data review. Various data source points provide current industry pressures, professionally validated information on residential properties, to provide asset values that hit the mark time and again. The predictive analytics used in PACETM is a web-based residential real estate valuation and auditing technology that consistently concludes an accurate assessment of value by verifying data and significant market conditions and their impact on value which is then reviewed by highly trained professionals who have backgrounds in financial, mathematical and statistical quantitative analysis. The industry has shown much interest in the PACEplusTM product as an alternative to the traditional BPO.The result is a more complete and comprehensive valuation product.
Key Advantages:
- SYSTEM GENERATED -Consistent price, quality & timeliness
- TRAINED ANALYST AUDITED -Greater value accuracy when integrated with human evaluation
- PREDICTIVE -Illustrates present value under distressed market conditions AND future value in improved or normal conditions
- DATA-DRIVEN -Public record data is extensive, current and accountable for greater accuracy
- ASSET SPECIFIC -Consistent application of data of each asset provides reliable assessment of value
- FACT-BASED -Less margin for error more subjective
- CUTTING-EDGE TECHNOLOGY -Logic-based for greater integrity of asset value
- INTERACTIVE FEATURE
- REAL-TIME DATA ACCESSIBILITY FOR 60-90 DAYS
- BALANCED CONCLUSION OF VALUE
is a unique analytics tool that will accurately predict market value, using highly trained reviewers on properties whether in portfolios, in foreclosure, or lender-owned.
includes the PACETM tool...
Plus a drive-by of the subject property
Plus with details of the property’s condition
Plus local market attributes and neighborhood information
Plus photographs of the subject property
Frequently Asked Questions:
Q. Is the human element of PACEplusTM conducted by an appraiser, and if so, a licensed or certified appraiser with local market knowledge? No, the human element is conducted by a mix of professionals with mathematical quantitative statistical backgrounds. An appraisal philosophy is used—individual parts of value are taken into consideration to determine a value in light of market conditions (i.e. land, structure, neighborhood, locality)—then coupled with comprehensive data and reviewed for a balanced outcome. This is the overall methodology of our tool.
Q. What role does the questionnaire have and who fills it out? The questionnaire pertains to the condition of the property and neighborhood. It is completed by knowledgeable local market resources--either locally licensed Realtors or property inspectors contracted by an aggregator.
Q. Who conducts PACEplusTM – appraisers or Realtors? The individual, either local licensed realtor or property inspector, contracted for the on-site inspection is responsible for the questionnaire as well.
Q. Does PACEplusTM have a quality control process built-in? Absolutely. Every product is reviewed by a trained professional analyst prior to the release of information.
Q. Finally, does PACEplusTM use an AVM at all – how does it include market data? No, there is no AVM component to PACE products. The market data used is comprehensive and is taken from federal and local (public & private) resources including but not limited to US Census Bureau, FBI (fraud/crime), US Dept of Housing, REIS Regional Economic Info Source, US Dept Education, Bureau of Economic Analysis, Standard & Poors, US Bureau of Statistics, local MLS, et al.
Q. Is data from the local MLS used? Yes.