About

Since 1997. Not a straight line.

Thousands of appraisals. Thousands of broker price opinions. Appraiser, Realtor, analytic appraiser in the county assessor's Agricultural department. This work exists because people making the biggest financial decisions of their lives deserve better information — and an honest conversation about what they are facing.

Todd Hurst — appraiser, Realtor, and data analyst behind The HMI Project
The Path

Started behind a drum kit

The path to developing a market analysis methodology did not start in real estate. It started with music — private lessons, years of practice, and professional gigs by 17. A drum kit teaches you something no classroom does: you build a library of ideas through repetition, develop the facility to execute them, and then apply the right one in the moment the music calls for it.

That pattern carried forward. December 1997 — appraisal trainee at Blagg Appraisal Company, typing reports on DOS, gluing photos onto paper, sticking adhesive arrows on printed maps. Over the years that followed: a real estate license in 2008, BPO work during the market collapse, REO listings, bank-owned sales, seasons of rebuilding. Not a highlight reel. Market crashes, foreclosure, bankruptcy, divorce, starting over more than once. Every one of those experiences shaped the perspective behind this platform.

Three Chairs

Three chairs. One perspective.

Appraiser determining value. Agent helping people buy and sell. Analytic appraiser in the assessor's Agricultural department, working within the system that affects what you pay every year. That combination is rare, and it produced a perspective that could not have come from any single chair alone.

Most people assume market price, market value, and assessed value are the same. They are not always. And those gaps — where people overpay, undersell, or do not understand the notice they just received in the mail — are exactly where better information makes the difference. Three overlapping ethical standards guide the work: the REALTOR® Code of Ethics, USPAP and the obligation to preserve the public trust, and the assessor’s duty to be fair and equitable. They all point the same direction.

The Evolution

From crawling to running

Everyone starts the same way. Crawl, stand, walk, run. Real estate was no different — DOS reports and adhesive arrows, then digital tools, then data platforms. For a long time, walking was enough. But the choice to use better tools, to combine them with experience going back to 1997, and to ask harder questions about how markets actually behave — that is what changed.

Traditional appraisals and BPOs focus on selecting specific comparables to tell a story. The methodology behind this work is fundamentally different — it uses statistical analysis and visual tools like scatterplots and regression modeling to discover what a market is actually doing and present data that shows the truth to everyone involved, rather than hitting a number. If a report format calls for comparables, they illustrate what the analysis has already revealed. R programming, statistical clustering, and AI are the current tools. The commitment to discovering what the market is telling us has been the constant.

Guiding Principles

What this methodology is built on

Legacy over wealth

Be remembered for making a difference in people's lives, not for accumulating wealth. This methodology is built to help people make better financial decisions. The business model flows from that purpose, not the other way around.

Intellectual honesty

All valuations are educated guesses based on historical patterns. This methodology presents data and acknowledges uncertainty rather than manufacturing false precision. If the analysis has limitations, you will know about them.

Respect over reach

People who feel respected arrive ready to engage. People who feel targeted at a vulnerable moment never forget it. This work shows up with information when others show up with an agenda. That is a non-negotiable standard, not a marketing guideline.

See the methodology

Experience going back to 1997 shaped a framework. Statistical tools made it scalable. See how the three tiers work together.

Explore the Methodology