How accurate is a report?
What each number means, when we refuse to give one, and how we test ourselves.
Three kinds of figures
- Declared on the permit. The value the applicant wrote on a building permit. Often below the final cost: it can leave out design, site work, fees and change orders.
- Public record. An awarded bid or published price from an agency, with its date and link.
- Modeled. Calculated from stated assumptions. The method is printed beside the figure.
Our rules
- Every figure shows its source, date, place and link.
- Different kinds of figures are never added into one number without saying how.
- A range is published only with at least 20 records, 10 separate bids and records from the last 24 months.
- Below that, the report says "Not enough records" instead of guessing.
- A report states what it cannot tell you: it is not an appraisal, a quote or a rebuild guarantee.
Tested against real outcomes
We price past bids using only records dated before them, then compare with what was actually awarded.
No accuracy test has been published yet.
Found an error?
Write to files@factumreport.com with the report ID and the line. A correction is issued as a new file with a new date; the old version stays checkable at Verify.