Reed Construction Data Introduces Property Valuation Software

June 19, 2003

Norcross, Ga.-based Reed Construction Data (formerly CMD) announced the launch of its Means CostWorks Valuator software program. This new software program employs cost data from Reed Construction Data’s RSMeans product to prepare replacement cost valuations of residences for homeowner property appraisal and insurance underwriting. The new program is designed for appraisal, underwriting and insurance general management professionals.

Means CostWorks Valuator is a Windows-based program that is driven by RSMeans’ comprehensive residential component cost modeling system. The user can quickly enter specific property information and select predetermined criteria in the electronic forms, and the program calculates a property valuation in summary or detail format.

Sophisticated cost models determine quality levels for each structure greatly reducing user subjectivity. Each valuation is component-built from RSMeans extensive collection of unit and assembly cost data and priced by location for all U.S. zip codes and Canadian postal codes. Valuations are stored and managed in a familiar Windows file and folder system offering numerous output options. In addition, direct Web access allows for data updates to keep costs current.

CostWorks Valuator offers customers quick, accurate and consistent property valuations at competitive costs. All components for a valuation are assembled from the data that reflects the actual reconstruction process. These valuations are created by a sophisticated rules engine based on RSMeans proven residential cost models, and are built on the same trusted cost data that RSMeans’ customers have come to rely on over the years.

“Reed Construction Data’s RSMeans product line has earned a reputation as the leading source of construction cost information by providing comprehensive, accurate and consistent products and services to the construction industry for more than 60 years,” said Curtis Allen, president of Reed Construction Data. “With the Means CostWorks Valuator, we are extending the information that contractors, designers and building owners rely on to meet the needs of appraisers and underwriters for comprehensive, consistent and accurate residential property valuations through our tested and proven CostWorks platform.”

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