How we evaluate
The LandScore Plus™ report provides a current day value of a property using an Automated Valuation Model or AVM. An AVM provides real estate property valuations using mathematical modeling combined with a database. AVMs calculate a property’s value at a specific point in time by analyzing values of comparable properties that have sold in the same neighbourhood. In analyzing comparable properties, characteristics such as number of bedrooms, improvements, and size are taken into account.
Appraisers, investment professionals, and mortgage lenders use AVM reports to determine a property’s value. Because AVMs are available in seconds, they save time, money, and resources—and help lower the cost of valuating a property.
But while most AVM models use only multiple regression, or variations of regression to provide market estimates, Landcor’s analytical AVM tools use both multiple regression and state-of the art algorithms to estimate current market value. Landcor’s AVM starts with hedonic regression, which takes a broad look at comparability. It defines sales as being similar and recent if they took place in a similar region, have sold recently, and are a similar property type. The formula then calculates statistical weights, and derives a market value indexed against recent sales prices of similar properties. Taking into account market conditions and neighbourhood trends, Landcor’s LandScore Plus™ report provides property values that are updated to the day you order a report.
At Landcor, we’re setting the industry standard in AVM technology.