How do we calculate property value?
There are two locations in Remine where you can see valuation estimates: the Property Value filter on the Discover map, and the Valuation section on the Property Details page. The valuations you see are provided to us by First American, Black Knight, Zillow, and Eppraisal, who calculate property values using automated valuation models (AVMs).
Note: The valuation we provide is not an absolute value, as agents know best, but rather an estimate so that you can quickly visualize property values on the map. If you want to add your own valuation to improve our average, see the How do I add a valuation to a property? article.
See the What are the available layers? article to read about all the available layers in Remine.
How do AVMs determine value?
While each provider has its own special sauce, AVMs look at the following data:
- Recent sales recorded at a courthouse
- Tax assessment values
- Comparable properties, including the following factors:
- Condition of the property
- Square footage
- Bedroom/bathroom count
- Year built
- Lot size
What data goes into the Property Value filter?
The Property Value filter uses First American valuations. First American updates their valuations every 30 days.
What data goes into the Valuation on the Property Details page?
The Valuation section of the Property Details page displays our valuation estimate, which is an average of the following valuations:
- First American
- Black Knight
- Remine valuations (How do I add a valuation to a property?)
You'll also see a chart that displays the property's valuation trends over time for each data provider. Each dollar sign on the chart indicates a transaction for which we have a sold price.