Though the condition of real estate-owned (REO) properties plays a huge role in their value,
CoreLogic's Matt Cannon writes that often this property information is only available through real-estate agent comments.
Non-traditional data sources such as Realtor comments can contain important information on property characteristic factors that affect property valuation.
By turning raw text into quantitative information using a document-term matrix, its possible to establish a more accurate property value.
Transforming Realtor comments into meaningful numeric analysis can provide opportunities to improve the accuracy of valuation estimates and better account for property condition.