Friday, 20 May 2022 | The Latest Buzz for the Appraisal Industry

Asteroom Announces Launch of New Desktop Appraisal Solution for Appraisal Management Companies

3D tour technology reveals a new efficient and accurate way to gather data by launching a national network to collect data to complete desktop appraisals

San Francisco, CA–Asteroom Inc. today launched its new nationwide desktop appraisal data collection service to fully enable the new property valuation method called desktop appraisal endorsed and approved by Fannie Mae and Freddie Mac that started on March 19, 2022.
The first complete solution to be introduced in support of desktop appraisals, which do not require an appraiser’s physical inspection, Asteroom national desktop appraisal data collection service features the company’s proprietary 3D tour and floor plan technology to document interior and exterior visual and dimensional data for residential properties.

Appraisal management companies (AMC’s) and appraisers can receive ANSI-compliant 2D floor plans with GLA calculations and a complete 3D tour of the interior and exterior, including street view shots, within 24 hours. The unique national desktop appraisal data collection solution mobilizes Asteroom’s network of Realtors®, who have real estate knowledge and property access, to collect the data using Asteroom’s smartphone-enabled 3D tour kits.

Appraisers prefer Asteroom’s data because it includes a 3D tour that allows the appraiser to view the property remotely in its entirety for accurate and reliable appraisal results. Appraisal management companies leverage Asteroom’s photography technology and in-person coverage to manage the data collection process in just 24 to 48 hours.

In an effort to streamline the loan process with reduced appraisal times, the mortgage industry is encouraging desktop appraisals, which are likely to see increased adoption, particularly with validated, accurate values made possible through Asteroom’s all-inclusive solution.

“We are expediting the appraisal process,” comments Asteroom CEO Eric Tsai, “with many of our initial desktop assignments being completed in three days start-to-finish. The property can be visited the same day the order is placed so that data is provided to the appraiser the next day. By serving as the “onsite eyes” of the appraiser, we are able to give them confidence in their valuation while also increasing their efficiency and volume by eliminating travel and inspection time.”
To learn more about Asteroom and its national desktop appraisal data collection service offering, click here.

About Asteroom Inc.: Asteroom is a 3D tour and floor plan company based in Fremont, CA, founded in 2018, Asteroom has 15,000+ real estate agents creating 3D Tours with Asteroom across the United States. Asteroom was voted 2021 Housing Wire Tech100 Winner as one of the most innovative and impactful technology companies serving the real estate industry.

Responses

  1. This process of eliminating the inspection, travel time is great for those appraisers working in mountainous regions, or extremely large size marketing areas, however the majority of appraisers can schedule an inspection same day or prompt an inspection next day and the client has the report within 3 days of an ordered assignment. Due to low inventory with refinancing and purchases, we are discovery, we cut a great deal of our appraiser’s out of work. Was this the right way to go? The art of appraising is being there to collect unattainable knowledge of a property regardless of looking through a visual photo footage of a positioned camera. Now we have appraisers that may or may not have geographical competency, completing an assignment, due to being somewhere else. Many do not collect all market trends for the marketing area or do proper segregating of properties according to collective inventory in relation to the subject property. This will have an impact in the valuation process. Let’s flip these appraisals out, it’s the number that matters either way, quantity in lieu of quality.

  2. What would have a impact in the appraisal industry would be to allow the appraiser to utilize a third party for themselves to do appraisal inspections and or someone they trained to inspect the home. Let’s be clear this push for desktop appraisals has always been about taking another step of the process away from the appraiser. Case in point for years the appraiser had to be on the inspection then they change this requirement but not for the appraiser to use but for the AMC and or banks

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