Our Distressed Property Score was originally called COVID Distressed Properties and is a Sophisticated big data intelligence product that utilizes three proprietary algorithms to predict the probability of a property being distressed on various levels. The algorithms consider hundreds of data points on every property and its residence, including the severity of disease within the county, the likelihood of a resident contracting the disease, and the financial impact potential.

 

The severity algorithm takes into account data from reputable sources such as the CDC and Johns Hopkins. The probability of contraction algorithm considers demographic and geographic inputs, such as the number of people per unit, proximity of unit to unit, and type of occupation. The financial impact algorithm takes into account geographic, demographic, financial, and property factors.

 

The resulting single score provided by the algorithms is a reliable indicator of the likelihood of a property becoming distressed in different ways. The product was initially developed during the pandemic with a heavier focus on the severity of disease within the county. However, as the pandemic dissipated, the product’s focus shifted to financial distressed indicators, combined with demographic components. This evolution has led to the product now being more accurately called Distressed Property, as it goes beyond just COVID-related factors.

 

The probability score generated by Distressed Properties continues to evolve and improve as part of the REfresh Engine, a comprehensive real estate artificial intelligence platform. This platform provides up-to-date and accurate data on properties, prediction scores, insights into the residence history for contacts and near real time notifications as change occurs. With the Distressed Property score included as part of this platform, users have access to a powerful tool that can help them make informed decisions about real estate and potential investments.

 

 

Additional details on each proprietary algorithm

• • Severity of disease within the county: This algorithm takes into account data from reputable sources such as the Centers for Disease Control and Prevention (CDC) and Johns Hopkins University to assess the severity of the COVID-19 outbreak in a given county. The algorithm considers factors such as the number of confirmed cases, the number of deaths, and the rate of transmission in the area. The severity score generated by this algorithm helps to indicate the level of risk a property may face from the pandemic.

 

• • Likelihood of resident contracting disease: This algorithm considers several demographic and geographic inputs to assess the probability of a resident contracting COVID-19. These inputs may include factors such as the number of people per unit, proximity of unit to unit, and type of occupation. Other factors such as age, income, and health status may also be taken into account. The algorithm generates a score that helps to indicate the level of risk a resident may face from the pandemic.

 

• • Financial impact potential: This algorithm takes into account several geographic, demographic, financial, and property factors to assess the financial impact of the pandemic on a property. These factors may include the average income in the area, the percentage of residents who have lost their jobs due to the pandemic, the number of mortgage delinquencies, and the percentage of distressed properties in the area. The algorithm generates a score that helps to indicate the level of financial risk a property may face due to the pandemic.

 

Together, these three algorithms generate a single score that provides an overall indication of the probability of a property becoming distressed on various levels. By considering less COVID-19-related factors now and more traditional financial indicators, the Distressed Property Score provides valuable insights into the current state and health of the real estate market.

 

Overall, Distressed Property is a valuable tool for anyone interested in the real estate industry. Whether you are a property investor, agent, or simply want to stay informed on the state of the market, this product provides valuable insights and data that can help you make informed decisions. Get started today with REfresh Engine’s 14 day free trial where you will get your contacts 1) Enriched  2) Scored for being Distressed & Likely Sellers    3) monitored for changes 24/7    4) Engage with our big data infused ChatGPT engineered prompts.

Get started today with REfresh Engine’s 14 day free trial where you will get your contacts 1) Enriched  2) Scored for being Distressed & Likely Sellers    3) monitored for changes 24/7    4) Engage with our big data infused ChatGPT engineered prompts.