SCOTTSDALE, AZ, July 25 /CNW/ - Zaio Corporation (TSX-V: ZAO), announces
the delivery of digital photographs to its automated valuation products:
i-Val(TM) and realAssessment(TM). The i-Val(TM) product provides an instant
predicted market value while realAssessment(TM) provides an estimated value
based on the assessed value of a property. The newly enhanced products will
provide instant access to verified property photos, thus improving accuracy
and reliability for financial institutions and others that are increasing
their use of automated valuation products in this volatile market. Zaio
customers have stated that the continued stress in the lending and financial
markets calls for more data and more reliable value estimates.
Zaio currently has more than 23 million photos in its virtual warehouse
and is pursuing the goal of photographing every home in major cities and
metropolitan areas. Zaio Photos are available within seconds as opposed to
days from other providers. Mortgage professionals requesting automated
products will be provided with up to five photographs of comparable properties
in addition to the subject property photo, where available.
"Zaio Photography provides a key service to our clients," states Jim
Kirchmeyer, Chief Marketing Officer for Zaio. "We strive to make smart and
strategic decisions to supplement our products, and a consistent quality photo
adds great value. Zaio's Automated Valuation Products can now be used as a
tool to check property values. Zaio also offers upgrades to traditional
appraisal and valuation products that will provide further information about
the condition and location of those properties, as well as the validity of
Zaio photographs are taken to exact specifications and then aligned with
specific property information for analysis by a local appraisal expert. Zaio
stores the data in the Appraisal Knowledge Warehouse(TM), which is quickly
becoming one of the largest repositories of real estate records in the Nation.
Zaio is a technology and database company. In addition to these Automated
Valuaton products, Zaio offers a broad range of appraisal and valuation
products. The Zaio network of appraisers currently serves approximately
500 lenders with a variety of nationwide appraisal services. Zaio maintains a
secure database of 140 million properties and its affiliated appraisers are
now site verifying property data, photos and appraisals of virtually every
property in America. Zaio's network of local appraiser experts appraise entire
cities, one building at a time using a proprietary GeoScore(TM) rating system.
Zaio trades under the symbol "ZAO" with additional information available under
the symbol "ZAOFF".
For investors who would like to be added to the Zaio investor
distribution list or receive a copy of the 2007 Annual Report, please contact
Lisa Lyscio at firstname.lastname@example.org.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press release.
This press release contains forward-looking statements, including without
limitation, the statement made regarding instant access to photos, the value
of photos, the size of the Company's database and improvements in reliability
and accuracy. Such statements are subject to risk factors associated with the
real estate industry, technological development customer acceptance, and the
overall economy in both Canada and the United States. There is no assurance
that addition of photos to automated valuation products will be utilized by
Zaio's customers, or that they will realize the benefits of improved accuracy
or reliability. In making these statements, the Company has assumed that the
technological and efficiency benefits will be realized. The Company believes
that the expectations reflected in this press release are reasonable, but
actual results may be affected by a variety of variables and may be materially
different from the results or events predicted in the forward-looking
statements. Readers are therefore cautioned not to place undue reliance on
these forward-looking statements.
In evaluating forward-looking statements readers should consider the risk
factors, which could cause actual results or events to differ materially from
those, indicated by such forward-looking statements. These forward-looking
statements are made as of the date hereof, and unless otherwise required by
applicable securities laws, the Company does not intend nor does it undertake
any obligation to update or revise any forward-looking statements to reflect
subsequent information, events, results or circumstances or otherwise.
For further information:
For further information: Donald E. Kelly, Chief Communications Officer,
(202) 302-3870; Lisa Lyscio, Manager, Investor Relations, (480) 449-2606