Latest news with #propertyvaluation
Times
10-07-2025
- Business
- Times
My house lost half its value because of HS2 — and I need to sell
I bought Lake House in Whitmore, Staffordshire, for £1.175 million in 2009 with my ex-husband [says Steph Wilkin, 56, a topographical surveyor]. It's absolutely gorgeous — a three-bedroom equestrian property with stables, nine acres and two great big lakes. But now, according to HS2, this wonderful grade II listed property is worth only £757,500 — just over half the amount we paid for it. There is no going back on this valuation, issued in June 2024, seven months after Rishi Sunak cancelled HS2, and nowhere to appeal to. It's such a stressful situation and I don't know where to turn next. We divorced in August 2020. The financial settlement of the divorce stated that Lake House was to be sold. I would receive 62 per cent of the proceeds, when the £300,000 mortgage had been settled. My ex-husband still lives in the house and pays the interest-only mortgage under the divorce financial order.
Associated Press
01-07-2025
- Business
- Associated Press
Veros Expands VeroSELECT Platform with Valligent's Virtual Inspection and New Evaluation Offerings
SANTA ANA, Calif.--(BUSINESS WIRE)--Jul 1, 2025-- Veros Real Estate Solutions (Veros ® ), a leading provider of real estate property valuation and risk management solutions, today announced a significant expansion of its VeroSELECT™ platform through the integration of Valligent's virtual inspection, disaster inspection, and new evaluation services. This move strengthens VeroSELECT as the premier unified platform for property valuation and risk management—offering a full ecosystem of data, analytics, and service types to drive efficiency and support confident housing finance decisions. The housing finance industry continues to demand faster workflows and stronger risk mitigation. This integration gives VeroSELECT users centralized control over their valuation processes—from AVMs and evaluations to property inspections and appraisals, including Valligent's advanced virtual tools. With one intuitive platform, users gain a holistic view of collateral risk and industry-leading operational efficiency. 'Our commitment at Veros is to continually advance what's possible in housing finance,' said Sarah Petteway-Dib, Senior Vice President, Product & Data Operations at Veros. 'Integrating Valligent's virtual inspection and valuation capabilities transforms how clients access and manage their workflows—providing more flexibility, sharper insights, and greater confidence in lending decisions.' This expansion builds on recent momentum, including the addition of Disaster Vision to the VeroSELECT API. Now, clients can quickly identify properties likely impacted by natural disasters and initiate virtual inspections with homeowners to assess potential damage, all within the same platform. The newly added Valligent offerings now available on VeroSELECT include: These services enhance VeroSELECT's broad capabilities, joining an extensive portfolio that includes the VeroVALUE ® AVM suite, Broker Price Opinions (BPOs), inspection-based solutions like VeroVALUE or other Automated Valuation Models + Inspections and VeroPHOTO™, as well as appraisal services such as ValPRAZE™. Advanced analytics, vendor management, and tools like Disaster Vision provide clients with deeper insights and scalability across the full lending lifecycle. 'This integration represents a unified vision for the future of property valuation,' said George Paquette, Chief Operating Officer at Valligent. 'By combining Veros' foundation in data and analytics with Valligent's agility in virtual solutions, we're delivering a powerful, cohesive pipeline that supports smarter decisions from origination through servicing.' VeroSELECT™ continues to exemplify Veros' commitment to empowering its clients with a robust, flexible, and transparent platform. Its key features—including superior vendor management, real time order updates, advanced platform logic, direct customer support, full scalability, complete transparency with Software Security Assurance (SSA) and audit capabilities, consistent performance, and granular user permission control—are precisely designed to give businesses superior control and insight into their entire valuation process. VeroSELECT™ is the ultimate single platform solution for comprehensive property valuation and risk management. About Veros Real Estate Solutions Founded in 2001, Veros Real Estate Solutions (Veros ® ) is a trusted leader in empowering mission-critical housing finance decisions and risk management through next-gen technology, data, and analytics. Veros is the primary architect and technology provider for the government-sponsored enterprises' Uniform Collateral Data Portal ® (UCDP ® ) and works closely with the Federal Housing Administration (FHA) to support its Electronic Appraisal Delivery (EAD) portal. Veros also streamlines the real estate lending process for U.S. Veterans through its valuation management services with the U.S. Department of Veterans Affairs (VA). Trusted and used by several large government entities. About Valligent Founded in 2003, Valligent is a national real estate valuation company that utilizes innovative technology to deliver tailored solutions to support the evolving housing finance industry. Valligent combines seasoned real estate professionals, technology, and automation to deliver timely, fair, and accurate property valuations. Serving banks, credit unions, mortgage lenders, and insurance companies nationwide, Valligent integrates with leading data providers, Loan Origination Systems, on-demand cloud computing platforms, and other direct integrations. View source version on CONTACT: Media Contact Heather Zeller Vice President of Marketing [email protected] 866-458-3767 KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA INDUSTRY KEYWORD: COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY DATA ANALYTICS FINANCE CONSULTING PROFESSIONAL SERVICES REIT RESIDENTIAL BUILDING & REAL ESTATE SOURCE: Veros Real Estate Solutions Copyright Business Wire 2025. PUB: 07/01/2025 05:30 AM/DISC: 07/01/2025 05:31 AM
The Sun
26-06-2025
- Business
- The Sun
Nine in 10 estate agents reckon AI software is routinely undervaluing properties
Nine in 10 estate agents reckon AI software – known as automated valuation models (AVMs) – are routinely undervaluing properties. A poll of 250 estate agents revealed UK homeowners could potentially be losing out when selling their property as 87 per cent feel AI-powered valuation tools fail to reflect their true value. 2 2 This includes Northern, lower-income, and rural areas. But 78 per cent rely heavily on AI or automated valuation models (AVMs) when putting a price on a home – and as many as 23 per cent claim to 'always' use them. Despite this, 73 per cent admitted they don't even fully trust the tools they're using to make these calculations. And 15 per cent only adjust the final calculations by between £0 and £1,000 – which may mean some sellers are losing a lot of the potential value on their homes. A spokesperson from estate agency platform Alto, which commissioned the research, said: 'AI is encroaching more and more on so many areas of our lives, but housing valuations isn't one that usually springs to the front of people's minds. 'Agents are telling us AI is undervaluing sellers' homes – and we should be listening. 'These tools can save time and provide a starting point, but they're no substitute for local knowledge and real-world experience. 'The risk is that homes are priced based on flawed data, and sellers lose out. 'We trust agents – and we believe they should be empowered, not replaced.' Almost eight in 10 agents (77 per cent) think this technology, at least sometimes, fails to account for key factors that influence a property's true value. One area they felt was especially lacking was the algorithms' abilities to detect added value to a house, in areas such as recent renovations, unique features, or the condition of the property. Other important elements often overlooked during an evaluation were noise levels (29 per cent), crime rates (26 per cent), and economic conditions (24 per cent). Especially when considering elements homeowners have invested in themselves, these oversights can be costly – with the most ignored additions being extensions (26 per cent), loft conversions (26 per cent), and smart home technology (25 per cent). The least accurate valuations were also found to occur in properties in rapidly changing markets (27 per cent), rural locations (23 per cent), and transitional neighbourhoods (21 per cent). Agents have their own criticisms of these helpers, with the top complaints centring around their lack of accuracy on evaluations generally (23 per cent), but especially when it comes to more unique properties (32 per cent). However, they also bemoaned the lack of personal touch (21 per cent) and potential for outdated information (20 per cent), limited data sources (18 per cent), and algorithmic bias (17 per cent). Almost four in 10 (37 per cent) also believe themselves and their fellow agents are prone to overusing this technology. But two thirds continue to use the AI-driven systems for the prime reason that they save time, according to data. Estate agents in specific UK regions that are most likely to report AI under-valuations include the North East (22 per cent), East of England (22 per cent), and Yorkshire and the Humber (21 per cent). This has led to 11 per cent of agents in the North East saying, on average, they have to adjust AI-generated listing prices by £20,000 or more. This underscores the risk that sellers may unknowingly lose out when marketing their home. Alto's spokesperson added: 'This just goes to show there are inconsistencies with this technology – across the country and when it comes to specific features. 'We need to ensure that we're not losing our human touch and that people can trust in their estate agents during a time that can already be incredibly stressful. 'AI has its place, but it should be used to support professionals, not override them. 'Selling your home can be an emotional time and will only be more so if people feel they're not getting what they truly deserve.'
Entrepreneur
25-06-2025
- Business
- Entrepreneur
50% of Dubai's Property Buyers Use Bayut's TruEstimate™ Before Sealing A Deal
Since its launch, over 300,000 reports have been generated, with 80% focused on ready secondary units, underscoring the tool's relevance in this segment. You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media. UAE-based real estate search engine platform Bayut's artificial intelligence (AI)-powered property valuation tool, TruEstimate™ was used in 50% of all ready property transactions in Dubai in May 2025. Launched in June 2024, TruEstimate™ was developed to equip both property seekers and real estate professionals with data-driven price benchmarks, addressing the long-standing market challenge of subjectivity in property valuations. Image source: Bayut Over the past year, adoption has surged, particularly in the ready secondary segment, where pricing transparency plays a critical role in negotiations and purchase confidence. In July 2024, only 6% of ready secondary transactions were preceded by a TruEstimate™ report. By May 2025, that figure had grown to 50%; meaning one in every two deals was backed by TruEstimate™ pricing before closing. Since launch, over 300,000 reports have been generated, with 80% focused on ready secondary units, underscoring the tool's relevance in this segment Image source: Bayut "We introduced TruEstimate™ to bring confidence and consistency to real estate pricing," said Haider Ali Khan, CEO of Bayut & dubizzle and Head of Dubizzle Group MENA. "The fact that every second ready transaction is now supported by our technology is a testament to the market's trust in Bayut's data capabilities and our commitment to elevating the property journey for all stakeholders." Looking ahead, Bayut aims to continue to expand TruEstimate™'s coverage across additional geographies and property categories, in collaboration with agents, developers, and government partners, furthering its mission to build the most transparent and efficient property marketplace in the UAE.
Associated Press
23-06-2025
- Business
- Associated Press
Dallas Property Owners Saw a Modest Residential Increase, while Commercial Grew Exponentially
O'Connor discusses how Dallas County property owners saw a modest residential increase, while commercial grew exponentially. DALLAS, TX, UNITED STATES, June 23, 2025 / / -- The Dallas Central Appraisal District has issued its proposed property valuations for the 2025 tax assessment cycle. In 2024, 36% of houses were overvalued. In 2025 the number of houses overvalued decreased by 28%, which provides relief to some homeowners. The average value of residential homes increased by 5.6%, whereas commercial real estate experienced a more notable rise of around 15.1%. These changes reflect the combined impact of both newly built properties and those already in existence. Residential Tax Assessment Increased in 2025 by 5.6% in Dallas County Residential properties exceeding $1.5 million experienced the highest growth, rising by 11.8% and reaching a projected market value of $69 billion in 2025. Notable appreciation was also seen in homes priced from $1 million to $1.5 million, which grew by 9.2%, while properties valued between $750,000 and $1 million saw a 6.2% increase. Homes valued less than $250k increased only by 1.2% In 2024, the total value of all properties—regardless of size—rose from $241 billion to $278 billion, marking a 15% increase. By contrast, 2025 saw a more modest overall growth of 5.6%, with values climbing from $274 billion to $290 billion. Larger properties over 8,000 square feet, which are generally higher in value, experienced a 10.4% increase—down from the 20.9% surge seen in 2024. Among single-family homes in Dallas County, the smallest value gains were recorded in properties under 2,000 square feet, which rose by just 2.8%. In the 2025 property tax reappraisals by the Dallas Central Appraisal District (CAD), homes constructed in 2021 or later saw the steepest increase in assessed value, rising by 29.6%. In contrast, for 2024, the highest assessments were recorded for properties without a listed construction year, categorized as 'others.' By 2025, this category saw a more moderate increase of 9.3%. The smallest growth was observed among homes built between 1981 and 2000, which experienced a modest 3.9% rise in assessed value. In 2024, Dallas CAD overvalued 52% of Dallas County homes. Fortunately, for homeowners this number went down to 28% and 9,361 houses were overvalued. Reports show that 72% or 23,770 houses were valued at market value or below. Commercial Property in Dallas County Significantly Increased by 15.1% Dallas County's commercial property assessments have experienced a substantial increase in all assessed value categories and value ranges during the 2025 tax year. The most significant growth was observed in commercial accounts valued at over $5 million, with a rate of 15.3%. Conversely, property priced below $500K experienced the lowest growth rate of 10.5%. Property valued between $1 million and $ 5 million saw a notable growth of 14.8%. It appears that the commercial property values of property owners in Dallas County have experienced substantial increases in 2025. Warehouses experienced the most significant increase in property values, rising by 21.2% from $7.834 billion to $9.493 billion. Conversely, the value of office buildings experienced the smallest increase of 10.6% in value. The commercial properties that were established in 2021 and subsequent years experienced the greatest recorded increase in value, with a gain of 68.8%, as opposed to 22.6% in 2024. The lowest growth was seen in commercial property built between 2001 and 2020 with 10.2%. Other property recorded with high increases includes those built before 1960 (19.8%) and built between 1961 to 1980 (15.1%). Gap Between Dallas CAD Valuations and Wall Street Market Outlook A notable discrepancy exists between the findings of Green Street Real Estate, a Wall Street firm, and the 2025 commercial property tax reassessment by Dallas CAD. While Dallas CAD reported a 15.1% increase in commercial property values, Green Street's analysis showed a sharp decline of 21.0%. Dallas County Apartment Property Increase The combined property tax evaluations for apartment complexes in Dallas County had an increase of 16.1% in 2025, slightly lower than the 23.1% in 2024. The most notable rise was seen in apartment complexes categorized as 'others,' seeing a 172.8% appreciation in value from $21 million to $57 million in the past year. The highest appreciation in value with a year-built category was seen buildings constructed in 2021 and later with 68.4%. In 2025, the property tax assessments for various sub-types of apartment complexes in Dallas County increased. The multi-family apartment accounts experienced the most substantial growth, increasing from $868k to $1.113 million, a 28.2% increase. Apartment gardens also saw a high increase of 20.2% and had a 2025 notice market value of $1.760 million. Dallas County Office Buildings Percentage Increase by Year Built The Dallas CAD appears to have made the most significant increase for office property with a year built assigned. The year range of offices constructed in 2021 and later showed a tremendous increase of 69.2%. The office buildings built between 2001 and 2020 also saw a notable increase, with a rise of 8.7%. This 'others' category stayed consistent at $612,530 in market value and had no increase. The average growth of assessed value for all categories of construction years has been around 10.6%. For office building in Dallas County, there are only two sub-types. Out of the two, regular office buildings had the greatest increase of 10.9%, growing in market value from $31 billion to $34 billion. Medical offices saw a growth of 8.9% with a notice market value in 2025 of $3.950 billion. Dallas CAD Retail Tax Assessments Up by 14% Statistically, the property tax assessments for retail buildings in Dallas County have increased in all construction year categories. The retail buildings that were constructed in 2021 and later experienced the greatest level of assessment growth, with a 45.5% increase in value from $187 million to $273 million. Property built before 1960 also saw a high increase of 25%. This year, the assessed value of retail properties constructed between 1961 and 1980 increased by 10.0%, the lowest rate of growth in this section of the analysis. In 2025, the property tax assessments for retail property categories in Dallas County increased. The retail center experienced the lowest amount of assessed value, with a relatively low 11.1% growth rate in 2025 assessments. The retail properties in mall centers have experienced the most significant increase, with a 32% increase. Dallas CAD Warehouse Tax Assessments Up About 14% Between 2024 and 2025, property tax assessments for warehouse owners in Dallas County rose by an average of 21.2%. Warehouses built before 1960 experienced particularly strong appreciation, with their value climbing from $707 million to $938 million—a 32.7% increase. Similarly, warehouse properties without a recorded construction date saw a comparable market value jump of 31.4%. The Dallas Central Appraisal District reported a 21.2% overall rise in market values for two categories of warehouse properties. Both warehouse sub-types increased at very similar rates. Mini warehouses increased by 21.5% and regular warehouses increased by 21.2%. Tracking the Gap: Dallas Metro Home Value Growth vs. County Assessments In 2025, the Dallas Central Appraisal District (CAD) bumped up single-family home values by 5.6% — a noticeable slowdown from the 15.2% spike seen in 2024. Meanwhile, real-world market trends painted a much tamer picture. According to the MetroTex Association of Realtors, Dallas Metro home prices crept up by just 0.3%, even lower than the 1.9% rise recorded the previous year. The numbers suggest a growing divide between official assessments and actual market movement. A Fresh Look: 2025 Dallas CAD Property Tax Revaluation Summary In 2025, the Dallas Central Appraisal District (CAD) rolled out its latest property tax revaluations. Property values are on the rise across the board, but commercial real estate is leading the charge. Residential properties saw a modest 5.6% uptick, while commercial properties jumped a striking 15.1% in overall market value. When comparing the CAD figures to actual market trends, there's a noticeable gap. Dallas home prices only inched up by 0.3% between January 2024 and January 2025, casting some doubt on the accuracy of the CAD's 5.6% hike for homes. However, only 28% of properties are considered overvalued, with the majority—78%—falling at or below market value. About O'Connor: O'Connor is one of the largest property tax consulting firms, representing 185,000 clients in 49 states and Canada, handling about 295,000 protests in 2024, with residential property tax reduction services in Texas, Illinois, Georgia, and New York. O'Connor's possesses the resources and market expertise in the areas of property tax, cost segregation, commercial and residential real estate appraisals. The firm was founded in 1974 and employs a team of 1,000 worldwide. O'Connor's core focus is enriching the lives of property owners through cost effective tax reduction. Property owners interested in assistance appealing their assessment can enroll in O'Connor's Property Tax Protection Program ™. There is no upfront fee, or any fee unless we reduce your property taxes, and easy online enrollment only takes 2 to 3 minutes. Patrick O'Connor, President O'Connor + + +1 713-375-4128 email us here Visit us on social media: LinkedIn Facebook YouTube X Legal Disclaimer: EIN Presswire provides this news content 'as is' without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
