Home Evaluator; (HEV)                                                                                             FAQ MENU

Why and How? The Home Evaluator is a great indicator of Market changes for individual homes.

Benefits Realtors can now demonstrate the previous market history and a homes price changes to better show trends to enable the home seller . buyer to make a more informed decision.

 This Evaluation Algorithm is based on the most accurate Home Price Index HPIp (Paired Sales analysis) for 17 cites and 114 sub areas.* The values from current to 2005 are based on using the most accurate paired sales methodology and prior to 2005 are combinations of several general HPI's and are less accurate. 

How Accurate are these results: Currently the initial Evaluator results for the Top 50% and Lower 50% market areas are deemed to be accurate 33% of the time within a 3.7% margin.  This is great help to the Real Estate Industry as only 18.3% of all the residential MLS listings in the lower mainland in the last 12 months (July 2012-2013) were listed at a price to sell and sold and within 3.7% of list price. The  63.5% that did not sell were priced over ~15% too high. keyword: EvaluatorEvaluator
Note: the Average HPIp is an average of the the Top 50% and Lower 50% HPIp's and are therefore less accurate.  Please use the Top or Lower Market Evaluator for most calculations

 

To Calculate Your Home Value for a Comparative Market Analysis CMA,  find your; City, Home type, and Market Range.
Input your previous purchase details: date and price.

Final adjustments to increase accuracy: The VMR Evaluator value is based on the subject home being in the same relative condition as purchased .
To complete the Evaluation one needs to factor in Depreciation / Renovation adjustments, Home Display, Land Us and 
Neighbourhood changes: see details

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