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Zaio Corp. (ZAO:TSXV)
LAST C$3.04 CADCHANGE TODAY 0.00 0.00%VOLUME 0.0ZAO On Other ExchangesAs of October 18, 2007 All times are local (Market data by Reuters is delayed by at least 15 minutes).
SnapshotNewsChartsFinancialsEarningsPeopleTransactions OPEN-- PREVIOUS CLOSEC$3.04
DAY HIGH-- DAY LOW--
52 WEEK HIGH05/14/07 - C$5.60 52 WEEK LOW10/31/06 - C$0.60
MARKET CAP127.6M AVERAGE VOLUME 3 mo22.7K
DILUTED EPS TTM-- SHARES OUTSTANDING42.0M
ZAO Does Not Pay Dividends P/E TTMNM
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Historical Quote | Advanced ChartZAO Details
Zaio Corporation engages in the development and maintenance of site-verified database of photos, valuations, and property information of various properties using a proprietary GeoScore property rating system in the United States. It offers GeoPic, a photographic database that includes approximately 75 million property photos. These residential photographs are combined with an analysis of the value and selling appeal of various residential properties in a particular city and contain information, such as property sales figures, assessment data, an analysis of local market issues and trends, and an exterior inspection and signature of a local professional appraiser. Its GeoScore database is acc...

Detailed Description...
www.zaio.comTop Compensated Officers
Mr. Thomas J. Inserra
Chief Executive Officer, President and Direct...
Total Annual Compensation: $218.5K Mr. Rodney Mitton
Chief Financial Officer, Vice President of Fi...
Total Annual Compensation: $100.0K

Executives, Board Directors

Compensation as of Fiscal Year 2006.Key developments
Zaio Eyes Buys
08/21/2007
On July 16, 2007, Zaio Corp's subsidiary Zaio Inc. closed a previously announced transaction to acquire the assets of Kirchmeyer & Associates and Real Info Inc. This acquisition will allow Zaio Corp to substantially increase its rate of photography and accelerate its current 5 year plan. At the same time, management of Zaio is continually exploring opportunities to align with other strategic partners in the valuation industry and will consider further acquisitions that allow it to penetrate its various markets sooner.

Zaio Corp. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2007
08/20/2007
Zaio Corp. reported earnings results for the second quarter and six months ended June 30, 2007. For the quarter, revenue increased to CAD 1.7 million ($1.5 million) compared to CAD 25,000 ($22,000) in the second quarter of 2006. The net loss for the three months ended June 30, 2007 was CAD 2.8 million or $0.076 per share compared to a net loss of CAD 172,000 or $0.006 per share for the same period in 2006. For the first six months, total revenue increased to CAD 1.8 million ($1.6 million) compared to CAD 62,000 ($54,000) for the first six months of 2006. Net loss for the first six months of 2007 was CAD 3.8 million compared to CAD 377,000 ($331,000) for same period in the prior year.

Zaio Corp., Q2 2007 Earnings/Operating Results Call, Aug-20-2007
08/15/2007
Zaio Corp., Q2 2007 Earnings/Operating Results Call, Aug-20-2007

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DANGER OF ZAIO Corporation

Zone Appraisal & Imaging Operations
they're building a better AVM



This company has its head office in Calgary, Canada. Their intent is to come up with a more accurate automated valuation database that includes photographs of the exterior of each residential property in the U.S. They want appraisers themselves to provide these pictures, along with a written description of the home(s) and neighborhoods they're in; so that ZAIO can gain leverage with lenders by telling them an actual experienced and licensed appraiser provided this information.

The reason? This Canadian company wants to be on the forefront of providing Lenders with data they can use to do more Automated Valuations Modules (AVM).
Any appraiser who provides data that will be used by these Automated Valuations is cutting their own throats, and the throats of their fellow appraisers. They are virtually guaranteeing that they themselves will probably see their appraisal workload cut in half (or more) in the future.


Automated Valuations started out several a years ago with data collected from County Assessor and local Assessor records. For a few years, Lenders went "wild" using these. They were thrilled that companies selling this data to them only charged them $20-$30 and no live Appraiser was needed. This meant that Loan Officers could make the loan based on nobody ever seeing the exterior of the property. Well, as they soon found out many of the loans made based on these Automated Valuations turned out to be rotten loans for several reasons.

Appraisers know that a home across the street from oceans and lakes are sometimes worth hundreds of thousands of dollars less than the waterfront home on the same street. Homes surrounded by "crack homes" and "eye sore" homes, or in run down neighborhoods are not comparable to homes in good neighborhoods. Appraisers can see this, but Automated Valuations can not.

County data, and Assessor data was never really that up to date data. Much of this is 10 or more years behind. If anyone relies solely on this data to any sort of valuation, versus a live appraiser seeing the subject property and all comparables, they are living in "fantasy land" -- if they think they will come up with any value that represents the true market value. County data and Assessor data may takes years to reflect that new two story, 800 square foot addition in the rear or side of a property. Forget the inground pools or new kitchens put in last year.

On October 14th, 2006 the CEO of ZAIO, Thomas J. Inserra posted at our Appraisal Talk Message Board the following; "Our written contracts that we sign with appraisers REQUIRE us to pay appraisers in cases when we sell valuation products to lenders. Thus, the contract is specifically designed to prevent ANY DATA or ANY valuation product from ever being sold UNLESS the appraiser is paid. That means we are purposely trying to keep the appraiser as the most important part of the valuation process." As you can see, ZAIO's game plan seems to be to both sell analyzed appraiser data and software to lenders.

At first they will pay appraiser's "chump money" for their data so that lender's can automatically populate 2055 driveby forms. So soon appraiser's will see much less 2055 "driveby" work, as lender's will be doing them automatically, complete with analyzed (versus raw) appraiser data. Then they will move into other appraisal types.

Read More on this subject here:

http://appraisercentral.com/AVM.htm

The BIG AVM Lie
Automated Valuation Models (AVMs)

George Hatch wrote:Okay, I don't want to run afoul of the code of conduct here so I'd like to know where lie my boundaries.

1 - Do I still need to keep the lyrics of "Kumbaya" at my fingertips or is it okay to be straight up with someone when they're whining?

2 - If some suit comes on here trying to blow their corporate line past us like we're idiots is it okay to tell them that we don't appreciate being lied to or do I have to cede them enough room to carry on?

2a - Is it okay to use the term "AVM Buzz" or do I have to revert to the proper name?

3 - Does Edd still need a translator?
Say what?

4 - Am I gonna get dinged by a certain duck for using the word "alot", or can I just loose my way on ocasion without worrying about the gramar/spelling police?


Enquiring minds want to know.

Daffy wrote:This board finally has credibility to make up for TC's presense.

George Hatch wrote:4 - Am I gonna get dinged by a certain duck for using the word "alot", or can I just loose my way on ocasion without worrying about the gramar/spelling police?

Was that a trap?

Jim Plante wrote:Verrett's in the middle of that? I thought he knew better.

Jim Plante wrote:Verrett's in the middle of that? I thought he knew better.

Jim Plante wrote:Well, I think he's got his own opinions, and unless you agree with him (which you are free to do), he doesn't want to waste time with you.