Industry News

New metrics focus on how neighborhoods affect home values

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ENeighborhoods has launched a new division to offer mortgage professionals neighborhood valuation metrics, focusing on how neighborhoods affect home valuations, the company said today. The company's new Strategic Mortgage Solutions division will debut new metrics products during the Mortgage Bankers Association's technology conference in San Diego next week. According to the National Association of Realtors, 68 percent of home buyers indicate the neighborhood quality as the most critical factor in choosing their home, giving it a huge effect on valuation. Blending recent housing data with information about schools, demographics, crime rates and other things provides a holistic validation approach, eNeighborhoods said. Diane Nelligan will head up the company's new division as managing director. Prior to joining eNeighborhoods, Nelligan spent 10 years at Freddie Mac where she was most recently the director and co-founder of Strategic Information Services, the division that created and...