CAPE Analytics’ New AIRE Real Estate Platform Fills Critical Gaps in Property Valuation Intelligence
CAPE Analytics, the pioneer of geospatial property analytics, is excited to announce CAPE AIRE, an AI-powered intelligence platform for the real estate market. AIRE uses computer vision, aerial imagery, and novel data sources to extract highly accurate, critical information about property conditions and their surroundings, with a focus on characteristics that influence property value and marketability. The CAPE AIRE platform fills critical gaps found in traditional data sources in use by the industry today.
Existing human-driven, visual inspections like exterior broker-price opinions (BPOs) and property condition reports (PCRs) miss 70% of property issues identified by the AIRE platform. Through its unique insights, including state of the art computer vision and geospatial data, AIRE provides more accurate property valuations, helps improve decisions around bids, buys, and capital expenditure (CapEx) needs for loan tapes and property portfolios, and increases efficiency by avoiding time-consuming research.
Inside CAPE AIRE
HELOC originators and investors, non-agency investors, single-family rental investors, and loan traders can all take advantage of AIRE’s valuable insights. AIRE makes the following nationwide property information instantly available via an auto-generated report or API:
- Objective and current exterior property condition assessments
- The type of view visible from each property
- Distance to noisy roads, train tracks, and bodies of water
- Property features that are often missed by existing data sets and exterior inspections including swimming pools, solar panels, and accessory structures
- Regular, automated detection of property changes that can affect property value
AIRE insights are accessible via API, generated PDF report, or batch processing. The CAPE team is continually adding additional insights and features to the platform that can be integrated into industry workflows and desktop appraisals, and has a number of additional enhancements slated for 2022.
CAPE AIRE delivers current, accurate, and instantly available information for properties in the United States. This objective, structured data is refreshed far more frequently than other sources of property information and does not require deciphering, interpretation, or keyword searches. AIRE-powered insights can be folded into property and loan origination, bid, diligence, and management workflows. Additionally, AIRE contains comprehensive property condition assessments and location attributes that have been excluded from existing AVMs but have demonstrated impact on value.
Use Cases Across The Industry
AIRE for mortgage and HELOC originators
- Identify challenging properties at the top of the sales funnel to optimize underwriting workflows and quickly assign the most appropriate valuation approach
- Replace or supplement PCRs to establish property condition alongside an AVM with CAPE’s holistic property intelligence
- Reduce outlier risk for originated deals and end investors by flagging properties with hidden property condition and/or location issues
AIRE for seasoned loan trading
- Bid on loan tapes with dramatically enhanced knowledge of property attributes including important characteristics that impact future loan performance such as property condition
- Identify hidden risks typically missed by BPOs during due diligence to support repricing and kick out conversations
- Monitor collateral throughout the life of the loan to more accurately forecast credit performance and support proper loss mitigation efforts
AIRE for single-family rental investment
- Power more accurate estimates of the rehab costs necessary to bring a property to the rental market, such as replacing roofs and clearing yard debris
- Identify issues with properties that drive-by inspections miss, better understand the condition of an entire neighborhood, and determine whether to enter a new market
- Power your asset management teams to be able to identify which properties need to be visited for more targeted property maintenance programs
- Optimize asset disposition by identifying which properties are consistent underperformers in order to trim down a portfolio