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Avm Usage To Reach 17% By 2008

Discussion in 'General Appraisal Discussion' started by Pamela Crowley (Florida), Dec 3, 2003.

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  1. Pamela Crowley (Florida)

    Pamela Crowley (Florida) Elite Member

    3
    Jan 13, 2002
    Professional Status:
    Retired Appraiser
    State:
    Florida
    AVM Usage to Reach 17% by 2008
    TowerGroup report looks at AVM technology spending
    December 7, 2003

    http://mortgagedaily.com/AvmUsageTower120303.asp


    MortgageDaily.com is a free subscription.
     
  2. Mike Garrett RAA

    Mike Garrett RAA Elite Member

    37
    Jan 14, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Colorado
    Well you can see who's side the Appraisal Institute is on!
     
  3. Paul DelleDonne

    Paul DelleDonne Sophomore Member

    0
    Jan 17, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Delaware
    Mostly, I am for a variety of appraisal products. I tend to be more of a forward thinking person, but I cannot see the advantage of using the AVM without the experience of the local "Certified Appraiser." I say sell the technology to the nations Certified Appraisers and let's move forward.
     
  4. Farm Gal

    Farm Gal Elite Member

    0
    Jan 14, 2002
    Professional Status:
    Licensed Appraiser
    State:
    Nebraska
    They have....
    but they kept the profit off the deal

    for $50 you can tell them the value is right (perform an appraisal).

    You get all the liability if'n somethin went wrong or they think somethin went wrong...but you got the biznisss

    Sing along with me:
    "I Owe my soul to the company store"
     
  5. Non Sequitur

    Non Sequitur Elite Member
    Supporting Member

    261
    Feb 14, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Louisiana
    Man o' man, maybe Mr. Taylor should come up with another designation for the AVM's he likes or just let them buy an SRA. That's it! Endorsed by the Appraisal Institute - ValueIT, SRA. Meeting all of your residential needs, whatever that "number" may be.
     
  6. Paul DelleDonne

    Paul DelleDonne Sophomore Member

    0
    Jan 17, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Delaware
    Lee Ann,

    I'm sorry but I don't have the program that runs the AVM. If I were to choose, but I don't, I could be placed on the Amco or some other megalapropertyvaluation corporation approved appraiser list and work the $50 fee. What I'm saying is simply, sell the program that runs the AVM (I don't know why I capitalize AVM) to the State Certified Appraisers so that A: The playing field is leveled out and B: The client has the benefit of the knowledge of the neighborhood professional.
     
  7. Brenda Friesen

    Brenda Friesen Sophomore Member

    0
    Jun 8, 2002
    I have "performed" AVM's. Perameters can be manipulated, therefore results are not "pure". The Info in the public records may be wrong or mislabeled - further tainting the results. Use of AVM's can only add to appraiser's REO work in the future. The greed of some the lenders, LOs, and AVM developers are driving forces for use and misuse of this so-called "TOOL". Above post is correct, when stating that a local licensed/certified appraiser should be the operator of the AVM program. You must know the area/market.
    THE AVM is no substitute for the eyes, ears, nose, and knowledge of the appraiser.

    AGAIN - AVM'S MEAN MORE REO WORK FOR THE APPRAISERS
    AVM'S MEAN MORE LOSSES FOR THE HOMEOWNERS
    AVM'S MEAN MORE LOSSES FOR THE LENDING INSTITUTIONS.

    The lenders profer that there is less than 1% default -
    Well 1% of one trillion dollars is $10,000,000,000. TEN BILLION DOLLARS -down the drain.
    Oh well!!!
     
  8. Doug in NC

    Doug in NC Senior Member

    4
    Jan 17, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    North Carolina
    Yeah Gary, all of the appraisers signing off on values at $50 a pop should be really happy with more work coming down their pipeline. If they can do 30 a week, that's $1,500 a week!!! ... At least until enough competition starts doing them, then an appraiser might get only $20 per AVM appraisal. The appraiser can still make decent money if he/she can do say 50 a week. Right? :beer:
     
  9. SmilingDog

    SmilingDog Member

    0
    Apr 22, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    I wonder if that estimate os proportionate to population growth in the U.S. and amount of loans increasing. If it is it would be the same percentage that we have now. Plus I can;t wait for the foreclosures on loans based on these AVM's. Means more review work, more reliance on real "eyes and brains" and more money for me...for us... and don't forget better investment opportunities to buy foreclosre property.

    Isn't America great? :eyecrazy:
     
  10. Terry Russell

    Terry Russell Senior Member

    0
    Feb 24, 2002
    Professional Status:
    Appraiser Trainee
    State:
    Montana
    If an AVM can be used to close a transfer in mutuality, seems that it can also be used to close it under duress.

    Will the criteria for accuracy be any different. I would say not.

    Eh?
     
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