Allstate Appraisal, a nationwide valuation and review services company, and Bradford Technologies, a provider of computer-aided appraising technology, have launched Valuation Express, a new desktop appraisal product incorporating a third-party inspection of the property.
Valuation Express reports are prepared by licensed and certified appraisers with local market knowledge and expertise using traditional and statistical analysis to support the subject property’s value. These reports are designed to be more comprehensive than than those provided by BPOs and AVMs, which unlike Valuation Express reports, are not completed by licensed appraisers and do not use statistical analysis to support the value conclusion. Valuation Express reports are less expensive than traditional full appraisal reports, which makes them a viable alternative for use in non-first trust deed transactions that do not warrant the cost of a full or drive-by 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,” Allstate Appraisal President Steven Albert said. “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.”
Valuation Express reports are available exclusively through Allstate Appraisal, and appraisers on Allstate Appraisal’s panel can produce the Valuation Express report using Bradford Technologies’ CompCruncher software.
“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,” Bradford Technologies CEO Jeff Bradford said. “These alternative desktop products open up opportunities for all appraisers in new markets that can augment their traditional business.”