AgentTechnology

Would a developer pay more? CityBldr home valuations show you

Estimates consider multiple uses of properties

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Some properties are worth more to developers than they are to run-of-the-mill homebuyers. That's the idea behind new property value estimates from CityBldr. The company's automated valuation model (AVM) estimates a property's full value by factoring in potential uses of the property that are typically overlooked by other AVMs, CityBldr says. The goal is to help everyday homeowners understand "how to extract the most value out of properties suitable for development," the company said in a press release. CityBldr's website says its estimates can be "up to 89 percent more than leading market valuations."   "By evaluating all factors related to the best and highest use of properties, we’ve engineered a more holistic valuation method," said CityBldr CEO Bryan Copley in a statement. "In many cases this new value will result in a substantially higher sale price for the property owner.” The AVM capitalizes on growing demand from developers for propertie...