Real Info, Inc. and Kirchmeyer & Associates Launch Real-Desktop™
Appraisal Report
New Product Marries the Convenience of an AVM
with a Traditional Appraisal
BUFFALO, N.Y. - October 11, 2006 - Real Info, Inc., a Western New York real estate valuation company specializing in automated valuation model (AVM) technology, is launching their Real-Desktop™ Appraisal product, which combines AVMs and traditional appraisal tools. An AVM
is an electronically generated valuation that primarily uses real estate information to calculate a value for a specific property.
With Real-Desktop™
Appraisal Report (RDAR), an AVM appraisal is generated with Real
Info's i-Val™ Report. Then, the AVM appraisal
information is sent to a licensed appraiser within Kirchmeyer &
Associates' national network. The appraiser reviews the AVM output
to determine its reliability and accuracy. The appraiser can update
the information, including comparable sales data or the determined
value. The final appraisal form is filled out online using the
Kirchmeyer & Associates site and is sent back to the client,
typically within 24 hours. An appraiser can also drive by the
property and take a photo to add to the final report.
The benefits of RDAR are
that lenders are provided with the speed and data resources of an
AVM, but the AVM is reviewed by a licensed appraiser with local
market knowledge and expertise to verify its accuracy. The product
can be used in cases where an AVM may not meet the lenders
qualifications or may be too risky, but a physical inspection of the
property is not required.
Available nationally, RDAR
is USPAP compliant, costs less, and has a faster turnaround time than
a traditional appraisal.
James A. Kirchmeyer,
president of Real Info, said, "This new tool benefits our clients
because it gives them a fast, cost effective appraisal solution with
less risk than a traditional AVM. Appraisers also benefit because
they have a new revenue source by working in conjunction with AVMs to
review their accuracy."
Real Info, Inc. provides
automated property valuations to home equity lenders, credit union
administrators, mortgage lenders, financial institutions and real
estate professionals. The automated valuation model (AVM) services
allow clients to streamline the valuation process with
cost-effective, accurate, and time-saving solutions. Real Info, Inc.
also uses proprietary Internet delivery technology to provide
searchable real estate parcel information on millions of properties
through its realAccess™
subscription service. For more information, call (716) 558-2800 or
visit www.real-info.com.
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