Estimates are based upon a combination of third-party automated valuation models and in-house underwriting to establish a range for the potential resale value of a specific property. The automated valuation models use algorithms to review all of the properties sold within a specific distance of the subject property to pinpoint a potential sales price of properties with similar specifications. The valuations team takes into account the renovated condition of the home as it compares to comparable sales in similar areas/neighborhoods to determine a more subjective analysis of each property.
Since Here has acquired and renovated/upgraded (in many cases) the properties, sites such as Zillow may or may not have estimates that most accurately reflect the actual home condition. General renovation guidelines for the homes are new paint, flooring in new or good condition, updated appliances, and specific attention to the major systems, such as roofs and HVACs, where preventative maintenance or replacement is completed if necessary.