San Jose, California (May 24, 2010) — Zone Data Systems, LLC (ZDS) with 233 member Appraisal Companies in 25 states that operate in 32 of the top 40 MSA's in the country and employ over 500 appraisers, announced today it is partnering with Bradford Technologies to provide their clients with the new Collateral Valuation Report (CVR™), a statistically supported appraisal, as part of its ongoing efforts to use best-of-breed valuation products.
The CVR™ is an innovative, USPAP-compliant appraisal product that incorporates regression analysis performed by the appraiser to support the value conclusion. The valuation report and software were developed by Bradford Technologies, Inc. headquartered in Silicon Valley, as part of their suite of AppraisalWorld Services for appraisers.
Leo Savoie, SRA, Chairman of the Board of ZDS noted that "the CVR product compliments our efforts to re-engineer the appraisal process. We will be working with Bradford Technologies to create a superior valuation product that takes advantage of their technology and our dynamic, appraiser-based valuation database." Peter Pensotti, Operations Manager at ZDS noted "the CompCruncher application is an extremely powerful tool that allows the appraiser to analyze and interpret data like never before. Using CompCruncher, Zone Appraisers will be able to leverage our "GeoScoreTM" system and deliver a winning combination for users of valuation products.""We are thrilled to be working with the ZDS Partners", noted Jeff Bradford, CEO of Bradford Technologies. "Their desire to break out of the status quo and develop advances in appraising methodology parallels the work we are doing. I believe coupling the refined zone data with our analytical technology will produce exceptionally reliable valuation products." ZDS appraisers will undergo a strict training program that includes a statistics component with exam, and hands-on training in their local markets. "CVR certified appraisers are the local experts in their markets, with more experience, education and knowledge of local market conditions" noted Sylvia Kainz, AppraisalWorld COO."This is the perfect marriage of technology, appraisal expertise and data" Bradford noted. "A local appraiser empowered with these tools can effectively and efficiently meet client needs, all at a lower cost".
About ZDSZone Data Systems 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. ZDS and its network of premiere, local appraiser experts, photograph and appraise entire cities, one building at a time from the street.
About AppraisalWorldAppraisalWorld is an innovative, appraiser-centric technology company that leverages data and analytics to create turnkey solutions for appraisers, AMCs and lenders. From the company's innovative, patent-pending national appraiser directory that locates and ranks appraisers by their level of work experience in the subject property neighborhood, to the company’s Collateral Valuation Report, AppraisalWorld leads the industry in providing powerful tools to empower appraisers. The company's strategic partnerships with industry-leading companies such as Microsoft®, Marshall & Swift™, Fidelity Data Services, Flood Insights™, and Veros, coupled with its exceptional analytics tool-set and appraisal identity authentication, ensure that clients are powerfully positioned to meet the needs of the market in a challenging economic environment.