HONOLULU, March 4, 2011 /PRNewswire/ -- Collateral Analytics (CA), a residential real estate valuation and analytics firm, announced today the release of its nationwide home price forecast package. The new product has a base set of forecasts for approximately 380 Core Based Statistical Areas (CBSAs) and 9,500 ZIP codes. In addition, the user can interactively enter his own assumptions for each local economy and see how they affect the predicted future paths of both CBSA and ZIP level home prices.
In real estate, everything is local, and any given ZIP code may behave very differently than the County or CBSA it lies in. Now the mortgage finance industry can make sound financial risk decisions at the property level by understanding current and historical price appreciation within the subject's zip code.
More than 25 years of market and economic data went into development of the forecasts, with the base models being updated monthly. The CA home price indexes are the most extensive and current in the industry because they do not depend on methodologies such as repeat sales which are limited in application to broader geographic areas based on their construction.
"CA has been working extensively in this area for many years and has found that the primary drivers of home prices are local employment growth and affordability," said Michael Sklarz, President of Collateral Analytics. "The forecasts can be used during every step of the lending or property valuation process from origination, underwriting and quality control to servicing, portfolio review and default management."
The forecasts are available through a Web based analytic platform, batch delivery format, or as an additional feature in the HomePriceTrends.com website. All can accommodate user specific economic inputs for stress testing. To learn more about Collateral Analytics' products, please visit www.collateralanalytics.com.
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About Collateral Analytics:
Collateral Analytics develops real estate analytic products and tools to support financial institutions, institutional and retail investors as well as property capital market activities. By combining the most comprehensive and timely data with the brightest minds in the industry, Collateral Analytics has developed a suite of AVMs, home price indexes and forecasts and analytic products that are more accurate, more useful and more insightful than any competing products in the market.
SOURCE Pro Teck Valuation Services