– CAPE Analytics Announces Launch of AIRE, New Real Estate Platform Aimed to Increase Accuracy of Home Valuations and Desktop Appraisals –
The groundbreaking platform will provide unprecedented property analytics for real estate properties nationwide; built for mortgage product originators, loan traders, and institutional real estate investors
Mountain View, Calif. – WEBWIRE – Thursday, May 5, 2022
Today, CAPE Analytics, the leader in AI-powered geospatial property intelligence, is pleased to announce the launch of its AI-powered real estate intelligence platform, AIRE, which will provide clients with the ability to fill critical gaps found in traditional data sources.
Amid contemporary lapses and inaccuracies found in traditional data sources automated valuation models (AVMs), standard exterior broker price opinions (BPOs), and property condition report (PCRs) 70% of property issues identified by AIRE are missed by existing human-driven solutions. As a result, real estate decision-makers have consistently been left disadvantaged during underwriting, loan and real estate trades, and mitigation of risk, among other processes.
CAPEs AIRE platform combines computer vision, aerial imagery, granular geospatial data, and proprietary data sources to extract highly accurate, critical information about properties and their surroundings, focusing on characteristics that influence property value and marketability.
Real estate stakeholders leveraging AIRE can obtain instant, automatically generated reports for properties nationwide that disclose objective and current exterior property condition metrics, automated detection of property changes that can affect property value, nearby location factors such as distance to highways and bodies of water, and even the type of view visible from each property all of which are features that are missed by existing data sets and even human-led exterior inspections.
The CAPE AIRE property intelligence platform includes many features derived from applying computer vision to geospatial imagery
Instant assessments of overall exterior property condition
30+ highly accurate property characteristics such as property size, presence of pools, solar panels, vegetation, debris, and much more
Location factors such as the propertys distance to a noisy road, railroad, or waterfront
The view from each property, including the field of view and features such as golf course or bodies of water within that view
By relying on proprietary data and AI technology, CAPE avoids some of the common issues other tech-driven appraisal tools have run into. When Zillow launched its Offers iBuyer platform, it hit a roadblock in the wake of the pandemic. Many valuation and appraisal tools, like those used by Zillow for its Offers business, have trouble assessing atypical homesor even typical homes in atypical locationswhich can be exacerbated when real estate markets become more volatile. These same issues extend to appraisers and even consumers looking to buy or sell homes as it is challenging for humans to subjectively determine the impact of various positive and negative factors on a homes value. Many issues with the valuation and appraisal process reflect a lack of data and have been impacted by human bias and subjectivity. As desktop and hybrid appraisals increasingly become the norm, the most accurate and complete data sources must be brought to bear in order to maintain accurate valuation assessments. CAPE is the first to offer such a holistic dataset with the launch of its AIRE platform.
These capabilities allow such stakeholders to increase efficiency by avoiding time-consuming research, improve decisions around bids, buys and capex needs for loan tapes, mortgage originations such as HELOCs, and property portfolios. All while avoiding issues that affect valuation accuracy and bias with unique insights not available through alternative sources.
With AIRE, were enabling our clients to access objective, structured data for property and location characteristics, condition metrics, and marketability that have a demonstrated impact on value, said Raj Dosaj, Head of Real Estate for CAPE Analytics. AIREs accurate, up-to-date data is instantly available for properties across the United States.
The announcement comes amidst a breakthrough year for the company, which, in addition to its selection as a Tech100 Real Estate Company by HousingWire, has secured numerous partnerships and greatly expanded its capabilities for stakeholders across the real estate and mortgage landscape.
For more information about AIRE, visit https://capeanalytics.com/real-estate/
About CAPE Analytics
CAPE Analytics provides instant property intelligence for buildings across the United States and Canada. CAPE Analytics enables residential and commercial property stakeholders to access valuable property attributes instantly, with the accuracy and detail that typically requires an on-site inspection, but with unparalleled immediacy and global scale. Founded in 2014, CAPE Analytics is backed by leading venture capital firms and insurers and is comprised of machine learning, data infrastructure, and property experts.
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