TROY, Mich., April 06, 2017 (GLOBE NEWSWIRE) -- Dart Appraisal, a leading nationwide, independent appraisal management company (AMC), today announced it will offer a new valuation product to its lender clients through a collaboration with HouseCanary, the leading real estate data analytics company based in San Francisco. The Value Report provides an on-demand valuation, risk assessment and market data for a single property or entire portfolios.
The collaboration is a strategic move at a time when mortgage lenders are demanding more accurate, streamlined valuation products. To maintain its leadership position, Dart Appraisal is innovating on residential valuations and appraisals, teaming up with HouseCanary, a Silicon Valley company pioneering the use of big data analytics to accurately value America’s more than 100 million residential properties.
“At Dart Appraisal, we're always striving to offer the most unique and efficient products that meet our partners' needs,” said Michael Dresden, president of Dart Appraisal. “The Value Report is a modern option for lenders who want to value their portfolio, or who need a quick valuation on a property that provides more detail than a standard Automated Valuation Model.”
The Value Report delivers comprehensive property details, including its sales history and a suitability score, ranking the subject property against its 10 closest, algorithmically selected comparables. Lenders will also receive an understanding of the local market, as well as a three-year value forecast for both the subject property and the market environment.
“HouseCanary measures price movements on every residential block in the country, allowing for precise home valuations,” said Jeremy Sicklick, HouseCanary CEO. “Our algorithms combine 40 years of history, 1 billion residential transactions and hundreds of proprietary calculations influencing home values, providing lenders a modern way to accelerate loan origination and underwriting. We’re excited to work with Dart Appraisal to meet the new demand.”
Dart Appraisal.com is an independently-owned, nationwide Appraisal Management Company (AMC) founded in 1993. For more than two decades, the company has built a reputation of superior customer service combined with innovative technology to deliver accurate and timely residential appraisals. Thousands of orders are tracked in real time using a proprietary order management platform designed and maintained by Dart Appraisal. With a singular focus on appraisal management, Dart Appraisal has developed a direct relationship with both appraisers and clients. The company manages a nationwide appraiser panel that requires appraisers to meet stringent quality standards to ensure local competence and reliable appraisals. www.dartappraisal.com.
Founded in 2014, 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 data calculations and analytics, to accurately define and forecast values and market influences. HouseCanary is financed by a $33 million Series A. Its notable investors include Hillspire (Alphabet Executive Chairman Eric Schmidt's family office), Alpha Edison, ECA Ventures, Raven Ventures and others top investors including Egon Durban and Nikesh Arora. The company is headquartered in San Francisco. For more information, visit www.housecanary.com.