Powered by near real-time nationwide market data and years of research in AI, geospatial analytics, and computer vision
NEW YORK, NY / August 8, 2023 / – PropMix, an industry leader in housing and mortgage solutions, today announced a major upgrade to its real-time Profet Automated Valuation Model (AVM) with the introduction of its Interactive AVM to dynamically compute property values. These AVMs are delivered via Profet.ai, their flagship valuation platform that already supports traditional, desktop, and hybrid appraisals as well as numerous alternate valuation models.
Profet AVM computes the present value of a property based on current market conditions in near real-time. The AVM models efficiently adapt to changing inventory and latest sales data processed through PropMix’s nationwide data platform that collects data every 15-minutes from numerous data sources consisting of listings, for-sale-by-owner, foreclosures, and HUD sales.
The interactive AVM enables an expert user to update subject property characteristics as well as select their own comparables to recalculate the estimated value in real-time. “In this challenging real estate market we are currently in, investors need a reliable valuation model,” said Danny Regalado, President of Evalutrust Management, LLC. “PropMix’s Profet platform and its AVM has been a key component of our strategy to deliver investment evaluations on all types of investment properties.”
Profet AVM runs on top of PropMix’s large scale AI and machine learning platform which first enriches property and neighborhood data using natural language processing, geospatial analytics, and computer vision. It then generates 50+ insights such as property orientation, location factors, neighborhood influences, and value boundaries which are all fed into the AVM model. “Our continuous innovation process keeps the AVM current with new insights being ingested into the model,” said Umesh Harigopal, CEO of PropMix. “We are also experimenting in our lab with neural network based deep learning models including value explanations.”
AVM reports and Interactive AVMs are part of the Profet.ai valuation platform trusted by numerous appraisers and lenders. To learn more about the AVMs visit Profet.ai.
About PropMix.io
PropMix.io LLC, is a real estate data, insights, and solutions company with deep experience in commercializing Artificial Intelligence. PropMix’s platform and solutions are widely used by mortgage lenders, appraisers, realtors, and investors. Built on industry open standards and with intuitive user experience, PropMix’s solutions for the real estate industry enables brokers and agents to nurture long term customer relationships and to create new partnership channels to build and grow their businesses. PropMix also provides valuation solutions under its Profet.ai brand. PropMix was founded in 2016 and is headquartered in New York. www.propmix.io
About Evalutrust Management, LLC
Evalutrust Management, LLC is a real estate valuation consulting firm that provides comprehensive support to lenders, AMCs, realtors, investors, data providers, and capital market participants in a wide array of valuations, analyses, national valuation reviews and risk mitigation services.
