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How to value a property in the time of Covid-19

By April 17, 2020 No Comments
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Story by Erin Hudson

These days, Quinn Rawh drives from property to property wearing a mask and gloves and makes sure to have documentation that explains his work is deemed essential, just in case he gets pulled over.

When the appraiser, who mainly works in Queens and Nassau counties, arrives at a house, residents are often still there. They switch on all the lights and open doors so he can walk through without touching anything.

…Clear Capital is developing a digital platform to facilitate desktop appraisals by standardizing data collection from a property and feeding it to appraisers who then value the real estate without visiting it.

Kenon Chen, an executive at the firm, called Fannie and Freddie’s guidance “validation” of the company’s approach. He said demand has surged over the past few weeks, though that is likely because the company decided to make it available for free.

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