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CourthouseUSA believes easy access to affordable statewide commercial data is essential to ensuring fair and equitable taxation and promoting negotiation over litigation.
The problem is commercial property data and sales information is either not readily available to appraisers and assessors outside of their own county or it’s expensive and confined to smaller regions. We’re solving this problem by aggregating commercial data from various sources and providing you an easy to use and affordable web-based application that includes a simple point and click method of viewing commercial data as well as filtering the data for specific properties to find comparables.
Here are some use cases for various market segments
ValueArmor Gold Edition AVM or Estimates of Market Value
Patrick M. O’Connor, developer of the ValueArmor valuation model, is known to the mass appraisal industry as one of the most knowledgeable and respected modelers. ValueArmor makes use of the best of geographic information systems (GIS) and statistical modeling techniques to create a supportable comparable sales program. Pat’s model uses the International Association of Assessing Officers’ (IAAO) hybrid model specification to create valuation formulas that have dollar adjustments for quantity’s like square footage of building. These values per square footage are multiplied by qualitative adjustments (percentages) such as grade or construction quality.
Using GIS, ValueArmor’s location adjustment percentage is created by comparison to other surrounding commercial properties that have sold recently. Traditional comparable sold properties are limited by a narrow set of the nearest similar properties. Many appraisers are unable to find sufficient recently sold properties, because the locational considerations are too small. GIS will use the nearest recently sold properties to create locational percentages. GIS permits the search of geographically dispersed sold properties, while providing a local adjustment for location.
These location adjustments are checked and adjusted in the valuation model to provide the best possible standard estimates of market value. The model is used to filter the comparable sold properties to the best set of comparable sold properties and adjust the selected comparable sales to the subject property’s property characteristics. While ValueArmor will only use the best comparable sold properties, ValueArmor will have all available sales in its database for consideration.
How to Get Started
Simply click one of the links at the top of the page to go to the Hexagon Marketplace to subscribe. The state of Florida is the first state available through ValueArmor. If you are not in Florida but would like your state made available, please contact us to get your state added to the list. The more requests we get for a particular state, the higher on the list that state goes.
Determining the true value of property requires lots of information from every source, public and private. CUSA seeks to develop applications for every state/county in the country using data directly derived from local government. But in many cases all the data needed to source a particular app isn’t available. In those instances, CUSA seeks data from 3rd parties. A good example is a nationwide commercial AVM. Even the best modelers from the public sector need private sector data to develop the complex models required to compare properties from every corner of the country.
When data is open and shared, the true value is revealed, equity prevails, and negotiation over litigation is the result.