Real estate valuations and data solutions company Clear Capital announced the launch of its data solutions business, PropertyNova, on Thursday.
In addition, the company announced its first products under PropertyNova: Tax Assessment Data and Recorder Deed Data, a Data as a Service (DaaS) solution that is built to integrate large-scale public records data into the platforms used across industries such as mortgage, real estate, finance and insurance.
The new business line aims to address the gaps in the property data market, sourcing public records to provide “a single version of truth,” according to Kenon Chen, EVP of strategy and growth for Clear Capital.
The PropertyNova offerings are to include ClearAVM and HDI bulk files, alongside Tax Assessment and Recorder Deed Data. Bulk AVM delivers insights from over 120 million properties and 60 million high-confidence ClearAVMs, while Bulk HDI uses real-time data from multiple sources to reveal factors impacting property values.
“Our mission is to build confidence in real estate decisions, and we realize that that starts with a confident understanding of the property itself. And the industry has struggled with having to reconcile between multiple data sources that don’t always agree with each other,” Chen said in an interview with HousingWire. “We see PropertyNova as a way to solve the pain that goes into trying to understand what is actually happening at a property at a given time, and bringing together multiple data sets into decision-ready data.”
Chen added that the first products under PropertyNova — tax assessment data and recorded deed data — are sourced from public records, and that this dataset will soon be followed by access to mortgage data, also from public records.
“Then we’ll have a number of upcoming announcements from our roadmap to bring other data sources, and all of this is going to be linked by a single Clear Capital ID that joins the data sets together, makes it easy for companies to start using it right away across multiple data sources,” he added. “Clients will be able to access it in bulk, meaning getting daily, weekly deliveries based on the schedule that they want to ingest it. We’ll be offering national-level subscriptions, because we cover over 99% of U.S. residential properties, and then we’ll also have APIs available for our analytics products.”
He continued, “Eventually, what we’re going to be offering is expanded access to data sets, enabling analysis of an entire property’s life cycle and incorporating AI-derived insights to make that analysis more accurate.”
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