The eVAL 4 Hour turn-time Virtual Inspection combines our inhouse evaluation and virtual inspection services, which includes interior and exterior photos, and are completed in a 4-hour timeframe to meet your efficient, reliable valuation needs. The evaluation and virtual inspection process uses inhouse, highly trained real estate analysts to connect directly with homeowners to virtually inspect the property to determine the most accurate valuation of the property. This approach provides a more cost-effective and readily available solution for lenders, especially those looking to streamline home equity lending.
While most home equity evaluations are exterior-only, video allows analysts to see inside the home, so borrowers can show interior updates that should result in the most accurate home valuation.
Virtual inspections reduce the time needed to collect home data while still meeting the lender’s underwriting requirements.
Homeowners benefit from direct involvement in the property information collection process. The homeowner/borrower connects with an experienced analyst through their mobile device from a simple text and directly provides all the important information about the property via video.
A process that used to take days now only takes hours for lenders to get a detailed report after connecting with their borrowers. The decreased turnaround time significantly improves convenience for everyone involved. With many people continuing to work remotely or hybrid, homeowners benefit because the evaluations can be done anytime while they are home.
Save Time. Save Money. Create a Better Connection with Homeowners/Borrowers. Find out more about the eVAL-4 Hour Virtual Inspection today.
TO SPEAK TO OUR SALES TEAM
The housing market situation is fundamentally different from that during the great recession of 2008. One of the key reasons why house prices have not declined significantly is because of the very low inventory of homes available for sale. There were fewer than one million existing homes available for sale in January 2023 compared to over 3 million in any month during 2007-2008.
High home prices coupled with high interest rates made purchasing a house increasingly unaffordable. As a result, demand for home purchases fell. Pending sales across the United States decreased by over 40% from mid-June to the end of 2022.
In this short article, we look at three different consumer mortgage metrics when comparing the economic conditions today to the Great Recession over a decade ago.