The Property Valuator™ is the report that captures Landcor's automated valuation model. It provides a current market value approximation for an individual residential property (i.e., a single family house, strata apartment unit, strata townhouse unit, or duplex unit) based on the computer analysis of recent sales of comparable properties.
The Property Valuator™ estimate of market value is calculated by an advanced algorithm that combines traditional appraisal methodology and advanced regression analysis.
The Property Valuator™ system utilizes Landcor's comprehensive real estate database to locate and analyse detailed attributes of the subject property and create a detailed list of lot and building characteristics.
The valuation system then uses detailed property attributes to search Landcor's extensive sales database of over one million transactions. It finds and matches the best and most recent sales of nearby comparable properties.
During the next phase of the valuation process, the system uses a series of proprietary, regression based algorithms to evaluate the complex relationships between property attributes and sales price.
The valuation system then adjusts the comparable sales data to reflect any differences that may exist in property attributes, location, or time, and generates a value estimation for the property based on the current month.
The Property Valuator™ report provides an in-depth summary of the subject property which includes legal description, assessment data, sales history, lot and building attributes, a summary listing of the comparable sales used, a regression based current market value estimate, and a chart showing historical market trends for the subject neighborhood.
The Property Valuator™ is accepted and used by many of Canada's leading banks, credit unions, and real estate professionals when making their critical purchase, lending, and sales decisions.
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