At Vanderbilt Appraisal Company, we have created powerful research tools including Instant Analytics.
The Instant Analytics platform is a comprehensive collection of real estate comparable data and real estate analytics tools – built and backed by Expert Appraisers.
The Instant Analytics collection includes:
Instant Value – Get an estimate of Market Value (using expert appraiser-style methodology) for any Manhattan or Brooklyn residential property, instantly.
Market Comps – Search for verified closed sales, vetted and curated by expert appraisers, infused with comprehensive market information (including Coop square footage!)
Quick Stats – Obtain real-time, on-demand, market statistics to easily identify neighborhood value and price trends.
Search Verified closed sales, vetted and curated by expert appraisers. infused with comprehensive market information(including coop square footage)
Obtain real time, on demand market statistics to easily identify value and price trends.
About Instant Value
The Instant Value estimate is a calculation of the estimated market value of an individual cooperative or condominium property. The Instant Value estimate is produced using a custom, proprietary algorithm that employs Appraisal Intelligence: the knowledge, experience, methodology and mathematical formulas of the area’s top Appraisers. Unlike other home-value estimators that simply compile sales from tax records, Instant Value uses only market sales that are curated by local appraisers and vetted by valuation professionals to identify the crucial elements that contribute and have influence on market value.
Each market sale is “rated” by valuation professional in order to power the algorithm towards a reliable estimate. While the Instant Value application is a potent and useful tool when conducting research on property value, the precision of the value estimate will also be dependent on the accuracy of the stated property size and the ratings applied for Condition, Kitchen/Bath Remodeling, and View. Remember, when you need to know accurate market value, nothing will beat the first-hand experience and knowledge of a local expert-level Appraiser.
Like other estimates, the Instant Value estimate is not a formal appraisal nor a substitute for the in-person expertise of a professional appraiser. The Instant Value estimate factors in more than 15,000 Manhattan market sales over the course of a concurrent 12-18 month period; examining numerous data points about selected sales and applying market-derived adjustments based on Appraisal Intelligence. The algorithm was built to act like an expert Appraiser. Ultimately, the algorithm disperses priority weighting to the most suitable comparable properties and applies an adjusted price per square foot multiple to the target property. However, the accuracy of the estimate is largely based on having the right square footage and accurate (and honest) ratings for the target property.