Altisource, an integrated service provider and marketplace for the real estate and mortgage industries, has launched NestRange as an automated valuation model (AVM) that estimates value of residential properties.
This SaaS product leverages a national property database, geospatial comparable data, machine learning and AI to help real estate professionals, investors and financial institutions make decisions with confidence.
The NestRange AVM is a fully interactive tool that estimates the value of single-family homes, condominiums, townhomes, and multifamily dwellings/apartments. The service draws from a robust data set of more than 150 million properties including over 750,000 active property listings, according to the company.
“NestRange offers essential tools to real estate professionals looking for AVMs they can trust – including the ability to get better insights into both distressed and non-distressed property valuations,” said Israel Meir, chief strategy and technology officer, in a release. “We’re proud to have created a SaaS product that is so uniquely customizable.”
NestRange users have control over a variety of parameters including valuation input variables, property conditions, and the ability to select specific comparables used in the AVM calculation.
AVM reports include the NestRange Confidence Score, historical trends, detailed local market analysis and the ability to process AVMs in bulk. The NestRange Valuation API provides online integration and the ability to tap into the vast data and analytics within NestRange.
Altisource says the AVM platform complements its RentRange rental AVM service that has been providing rental data to investors and financial institutions for over a decade.