Allstate Appraisal and Bradford Technologies have partnered together to launch launched Valuation Express, a new desktop appraisal product incorporating a third party inspection of the property.
According to the companies, licensed and certified appraisers with local market knowledge and expertise use traditional and statistical analysis to support the subject property’s value when preparing Valuation Express reports.
The companies said that these reports are significantly better and of higher quality than those provided by BPOs and AVMs because “those reports are not completed by licensed appraisers and do not use statistical analysis to support the value conclusion.”
The companies also said that the Valuation Express reports offer a significant savings over traditional full appraisal reports, which makes it a viable alternative to transactions that don’t warrant the cost of a full appraisal.
“The market needs alternatives that provide the strength and accuracy of an appraiser-driven valuation but without the time and expense of a full appraisal,” said Steven Albert, president of Allstate Appraisal. “The Valuation Express report provides the right balance of quality and expertise of the local appraiser at the price points lenders require. This is exactly the solution our clients have been asking for.”
The companies also said that the reports target valuations for HELOCs, seconds and REOs.
“We are thrilled to be working with Allstate Appraisal. With their history of success in the appraisal industry and the new, unique Valuation Express appraisal product, they are well positioned to effectively compete in the expanding market for alternative valuations,” said Jeff Bradford, CEO of Bradford Technologies. “These alternative desktop products open up opportunities for all appraisers in new markets that can augment their traditional business.”