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Tradition Group, Inc. has entered into partnership with Zaio, (Zone Appraisal & Imaging Operations) Inc., the industry leader in the site-verified database of photos, valuations and property information of virtually every residential property in the top 250 cities, using a proprietary "GeoScore™" property rating system. Lenders, Mortgage Bankers, and Wall Street financial firms specializing in mortgage backed securities, will now have instant access to USPAP compliant "drive by" appraisal reports for loan generation and portfolio valuation purposes.
Each city is divided into zones containing approximately 10,000 homes. Tradition Group has purchased the rights to 3 zones in that encompass most of the City ofPort St Lucie, Florida.
Soon, the process of qualitatively analyzing and field verifying each property within these zones will begin. This "GeoScoring" process will take approximately 6 - 8 weeks. The appraiser site verification is the key to the validity of the data as this confirmed information now becomes the basis for all future value applications within the local markets.
When"GeoScoring" has been completed, database access will be made available through the zaio website portal on a per use fee basis.
Why ZAIO is different: Appraisal Knowledge Warehouse (tm)
Zaio partners with elite local appraisers, such as Tradition Group, to combine digital residential property photographs with a comprehensive analysis of the value and selling appeal of every residential property in a particular city and contain information such as relevant comparable property sales figures, assessment data, and analysis of local market issues and trends, along with an exterior inspection and signature of a local professional appraiser. Zaio stores completed appraisals in what is becoming the largest repository (AKW - Appraisal Knowledge Warehouse ™) of official real estate appraisals by licensed appraisers in the world.
Zaio's proprietary solution allows Tradition Group to update the value estimate of each property in their zones, in real time, daily, weekly or monthly, as may be needed by the client. No other company has ever taken the time to put "feet on the streets" to verify the property data.....until now.
Target Market Segments
Banks, mortgage companies, credit unions, S & L's, consumer finance & home equity lenders, loan securitization, portfolio, secondary market, county tax assessors, real estate data providers, real estate agents, MLS boards, consumers, investors, and for-sale-by-owners.
Solutions for 7 big issues:
1. Value Fraud - homes are appraised prior to the order sent by the lender thus eliminating a "target" value.
2. Lender Pressures (Actual or perceived) - exterior values are determined prior to the order, in an accurate market analysis.
3. Quicker appraisal turn times - an exterior report is prepared for delivery the minute the order is placed. All data has been analyzed and prepared for the report ahead of time reducing time constraints and pressures that often cause mistakes and errors. No longer do you have to wait a week. Interior appraisals are just as fast, forms for the exterior appraisal are populated automatically. The only time constraint is actually setting and agreeing on an appointment time.
4. Error elimination - the ZAIO database has all of the information for a typical exterior 2055 appraisal report stored and ready to populate the form, which upon your order, delivered within seconds. This includes national, regional, local, and property analysis with site characteristics.
5. Better market analysis - complimentary neighborhoods are analyzed and segmented for comparison. Recent sales from these markets are further broken down and adjusted based on the entire market and computer balanced providing accurate results.
6. Inaccurate parcel records - so many times, county records are inaccurate or not up to date. ZAIO Appraisers are always on the street comparing records against exterior visual characteristics of the improvements and land.
7. Clear picture of the subject property. - ZAIO's photographers are also always on the streets updating photographs on a continuous cycle and when changes to properties are made.
ZAIO Advantages
- Preorganized data - we will already photograph, appraise, and select comparable sales before you order.
- Efficient Production - the exterior appraisal is already compelte - just order
- Wireless Dispatched - Even full interior appraisals are as easy as - Load it ... Edit it... Send it.....
- Zone Experts - intense market knowledge, less drive time, fast-efficient.
Our plan for late summer is:
- Photograph all of St. Lucie and Martin County.
- Segment the markets into neighborhoods.
- Compare and analyze data comparing against the public records and other data.
- Analyze/Inspect and collect data characteristics of each home from a street/exterior view by a state certified appraiser.
- Collect Lat/Long Coords of each house for accurate GIS/addressing.
Allowing you instant, accurate results... later this year! Check out our Blog for updates on our progress.
ZAIO Employment
We are looking for hard working trainee appraisers willing to go the extra mile in the help to get this data organized. For more information, please visit the slide show and review the presentation by ZAIO.
About ZAIO
Zaio Corp. and its USA Subsidiary Zaio Inc. is the North American leader in developing and maintaining a site-verified database of photos, valuations and property information of virtually every residential property for entire cities, using a proprietary "GeoScore™" property rating system. Zaio and its network of premiere, local appraiser experts photograph and appraise entire cities, one building at a time from the street. Zaio is a public corporation that trades under the symbol "ZAO" on the TSX-V Exchange in Canada. Zaio was awarded "Venture-50" status by the stock exchange ranking it among the top 10 technology firms out of 2,000 public companies based on return on investment, revenues, market cap and trading volume. Additional information is available for US investors under the symbol "ZAOFF".
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