I was just faxed an AVM report on an appraisal that I completed last week. The subject is a ranch /w full basement. The basement has recently been finished, and the house has been rehabbed. My value: 112K (also under contract for 112K). The AVM found $72,000 and the underwriter is giving ALL weight to the AVM! Amazing! The AVM gave 10 sales – two are foreclosures, and none of them have a basement. The AVM does not consider basements, or condition. Finally, we have comments supplied by the AMV stating that my comps were “apparently separated by neighborhood boundaries.” Sure, I had to go further away to find sales with basements – these are called COMPS! The AVM can’t do one fundamental thing in the appraisal process – separate sales from comps. This is a bunch of garbage. Of course, I couldn’t care less, if it cut my value down to $0 for all I care. I’m amazed that the AVM is given more weight than my appraisal! The AVM’s confidence score was stated to be “Very high.” Or was that referring to the underwriter, or AVM operator?