What does AIRD mean in DATABASES
AIRD stands for Appraisal Institute Residential Database. It is a comprehensive database of residential property data maintained by the Appraisal Institute, a leading professional organization for real estate appraisers in the United States.
AIRD meaning in Databases in Computing
AIRD mostly used in an acronym Databases in Category Computing that means Appraisal Institute Residential Database
Shorthand: AIRD,
Full Form: Appraisal Institute Residential Database
For more information of "Appraisal Institute Residential Database", see the section below.
What is AIRD?
AIRD contains information on over 120 million residential properties nationwide, including:
- Property characteristics: Number of bedrooms, bathrooms, square footage, lot size, etc.
- Sales history: Dates and prices of recent sales
- Assessment data: Property tax assessments and other valuation information
- Neighborhood data: Demographics, crime rates, school quality, and other factors that can affect property values
Uses of AIRD
AIRD is used by real estate appraisers, lenders, investors, and other professionals for a variety of purposes, including:
- Appraisals: AIRD provides comparable sales data and other information that appraisers use to estimate the value of residential properties.
- Loan underwriting: Lenders use AIRD to assess the risk of lending money on a particular property.
- Investment analysis: Investors use AIRD to identify potential investment opportunities and track the performance of their investments.
- Property tax assessment: Assessors use AIRD to determine the fair market value of properties for tax purposes.
Benefits of AIRD
AIRD offers several benefits, including:
- Accuracy: The data in AIRD is verified and updated regularly, ensuring its accuracy and reliability.
- Comprehensiveness: AIRD covers a vast majority of residential properties in the United States, making it a valuable resource for professionals who need comprehensive property data.
- Convenience: AIRD is available online, making it easy for users to access the information they need anytime, anywhere.
Essential Questions and Answers on Appraisal Institute Residential Database in "COMPUTING»DB"
What is the Appraisal Institute Residential Database (AIRD)?
AIRD is a comprehensive database of residential property appraisal data maintained by the Appraisal Institute. It contains detailed information on over 100 million residential properties in the United States. AIRD is used by appraisers, lenders, and other real estate professionals to value properties and assess risk.
What information is included in AIRD?
AIRD includes a wide range of information on residential properties, including property characteristics (e.g., square footage, number of bedrooms), location data, sales history, and appraisal data. It also includes information on comparable properties and market trends. AIRD is updated regularly with new data, ensuring that it remains an accurate and up-to-date source of information.
How is AIRD used by appraisers?
Appraisers use AIRD to research comparable properties and gather data on market trends. This information helps them to develop accurate and defensible appraisals. AIRD can also be used to identify potential risks associated with a property, such as environmental hazards or legal issues.
How is AIRD used by lenders?
Lenders use AIRD to assess the risk associated with a mortgage application. They use the data in AIRD to compare the property being appraised to similar properties in the area. This helps them to determine whether the loan amount is appropriate and whether the borrower is likely to be able to repay the loan.
How is AIRD used by other real estate professionals?
AIRD is also used by other real estate professionals, such as real estate agents and investors. Real estate agents use AIRD to compare properties and identify potential selling points. Investors use AIRD to research potential investments and identify undervalued properties.
Final Words: AIRD is a valuable resource for real estate professionals and others who need comprehensive residential property data. Its accuracy, comprehensiveness, and convenience make it an essential tool for anyone involved in the real estate industry.
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