ReFax uses artificial intelligence and automated valuation models (AVMs) to analyze real estate data. The outputs are estimates — not appraisals, not guarantees, and not professional advice.
What AI Does on ReFax™
ReFax employs AI and machine learning in the following ways:
Automated Valuation Models (AVMs): We use comparable sales analysis, assessment ratios, and statistical modeling to estimate property values. These models compare a subject property against recent sales in the same geographic area.
Fred & Ethel Validation: Every AVM estimate is independently validated by our Fred (appraisal) and Ethel (audit) systems. Fred rebuilds the valuation using tight comparable criteria. Ethel verifies data integrity across multiple sources. Properties receive a confidence grade (A through F).
Data Extraction: AI is used to extract structured property data from public records, government filings, and publicly available listing data.
Market Analysis: AI generates market summaries, trend analysis, and property descriptions based on data in our database.
What AI Does NOT Do
AI does not perform licensed appraisals. Our estimates are not substitutes for appraisals conducted by licensed, certified appraisers.
AI does not physically inspect properties. Condition, renovations, environmental hazards, and structural issues are not accounted for.
AI does not provide legal, tax, or financial advice.
AI does not make representations about a property's suitability for any purpose.
Confidence Grades
Every validated property receives a Fred & Ethel confidence grade:
Grade A: High confidence. Fred's independent estimate agrees with the AVM within 15%. Five or more tight comparable sales. Data verified by Ethel with no conflicts.
Grade B: Moderate confidence. Agreement within 30%, or fewer comps available. Minor data gaps possible.
Grade C: Low confidence. Fred disagrees with the AVM, or comparable sales have wide price dispersion. Manual review recommended.
Grade F: Insufficient data. Not enough comparable sales to produce a reliable estimate. Property is displayed as "GREY" (insufficient data).
Data Sources
All property data presented on ReFax™ is derived from publicly available sources, including but not limited to:
Public MLS (Multiple Listing Service) data published by brokerages
County tax assessor records and government assessment databases
State and municipal open data portals
Recorded deed transfers and public transaction records
Government registries (NPPES, SEC EDGAR, USAspending)
ReFax does not access private, restricted, or non-public databases. We do not scrape data from sources that prohibit automated access.
Limitations
AVMs work best for properties with many recent comparable sales nearby. Rural properties, unique estates, and specialized commercial properties may have lower accuracy.
Our models do not account for property condition, interior features, recent renovations, environmental issues, or zoning changes.
Market conditions can change rapidly. Estimates reflect data as of the last processing date and may not reflect current market conditions.
AI-generated text may occasionally produce incorrect or misleading statements despite our validation systems.
Your Responsibility
By using ReFax™, you acknowledge that:
ReFax estimates are for informational purposes only.
You will not rely solely on ReFax™ data for purchase, sale, lending, or investment decisions.
You will consult licensed professionals (appraisers, attorneys, financial advisors) before making property decisions.
Monadnock Cyber, LLC is not liable for decisions made based on ReFax™ data.
Contact
Questions about our AI practices or data sources? Contact us at [email protected] or (603) 930-2222.