First American Real Estate Solutions - Valuation Solution

First American Real Estate Solutions is the leading index-based automated valuation model (AVM), known throughout the industry for generating precise, immediate and reliable valuations. Presented by First American Real Estate Solutions, one of the largest providers of AVM models in the United States, and created by Mortgage Risk Assessment Corporation, this powerful Internet application uses sophisticated repeat sale indexing technology to give you statistically-solid home valuation tools that extend far beyond the capabilities of most other index-based AVMs.

Benefits Include:

• Accurate

  First American Real Estate Solutions delivers the most comprehensive coverage and highest hit rate in the industry.

• Objective

  First American Real Estate Solutions eliminates the subjectivity inherent in traditional appraisals.

• Comprehensive Results

• First American Real Estate Solutions's comprehensive reports are fast, accurate and transparent; they also contain more supporting information than those of most other service providers.

• Rank Geographic Zones

  First American Real Estate Solutions allows you to isolate areas experiencing greater levels of appreciation or depreciation over a specified time period.

• Prior Sale Alert

  This feature automatically identifies properties sold more that once in the last 24 months and properties that have an usually high level of appreciation.

• Accessible

  First American Real Estate Solutions is available online and can be accessed 24 hours a day, 7 days a week.

How Does the First American Real Estate Solutions Work?

First American Real Estate Solutions searches indexes constructed from over 200 million historical sales records on over to 100 million properties. The First American Real Estate Solutions then performs three (3) different and independent calculations to arrive at a final valuation for the subject property:

• First, the value of the subject property is calculated using the indexes with the highest quantity and quality of supporting data.

• Next, numerous properties within close proximity to the subject property are isolated and a value for each is ascertained. A second value for the subject property is then calculated based on the average current values of these proximal properties.

• Last, a third value is calculated based on the average cost per square foot where such data exists for both the subject and each proximal property.

The First American Real Estate Solutions Report:

• Full address details and property type.

• Current property value and distress property value.

• Most recent purchase data including purchase date and price, owner name, original loan amount and original lender name.

• Refinance and second loan dates, amounts and lender names.

• Prior sales date, sale price and owner.

• Probability score and valuations graph.

• Year built, APN and square footage.

• Information on at least three proximal properties within the immediate vicinity.

• County median sale price.

• Area price trends.

For each valuation, the First American Real Estate Solutions provides a confidence score, indicating the probability that the result is within +/- 10% of the actual property value, based on the quality and quantity of its supporting information.

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