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Current Geographic Coverage
VeroVALUE coverage includes approximately 630 counties nationwide. These counties represent approximately 90% of total U.S. mortgage activity.
100% Hit Rate
Individual properties from all 50 states may also be valued using VeroINDEX Plus, an index-only based automated valuation solution. With the inclusion of a previous sale and date of sale, hit rates close to 100% are possible.
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Performance Across Coverage
There will be varying degrees of performance differences based on geography in any AVM including Veros. Generally, the reason for this rests largely with the availability of data. Traditionally, in regards to the AVM industry as a whole, one could fairly accurately claim that as you head west, the performance of AVMs increase. More recently, these "general rules" have been subject to change. For example, Veros will perform just as well in many east coast states as it will on their west coast counterparts. This is attributed to both increased access to data and implementation of valuation methodologies that are specifically designed to deliver highly accurate results with limited data.
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In our case, geographic differences will generally present themselves in the form of hit rates and distribution of values across confidence score ranges. Consistent delivery of accurate confidence scores allows the user to appropriately route and base decisions on valuations. In other words, a valuation in the 90s should have the same meaning whether it was delivered in Washington or Virginia. For more detailed coverage information, contact sales@veros.com |
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