Are they really stealing our sketchs?

[Brad Ellis]

Mark,

and to Larry's last post-

Ellis: For the most part, no. Of all the AVMs available out in the market, the only two that have admitted actually “mining” data are Fannie Mae and Freddie Mac. The Fannie Mae AVM is used only internally and its output is not publicly available; that is to say, no one can actually buy one from them. Conversely, Freddie Mac’s product, Home Value Explorer, is sold publicly.

Since that article I had the opportunity to speak with the Fannie AVM developer who told me directly that they do not mine appraisals to produce their AVM.

I have stated that in this form more than once. Perhaps you missed it.

As to Larry's post that everything I say will be recited (sometimes incorrectly) that seems to be the truth.

So, it sure looks like I ought to take his advice and stop posting.

Bye.

Brad

 

[CANative]

So, it sure looks like I ought to take his advice and stop posting.

You've said that before.:laugh: Fortunately you reversed your decision.

 

[Lawrence R.]

Brad,

I am not your adversary, per se, here.

I am just suggesting that you have a database of opinion on most everything discussed here(ad nauseam, it seems) by this point in time. As many other forumites do, just start referencing your previous posts to avoid the nuance differences that get thrown in your face.

I for one, don't want you to quit posting. I think this forum needs you here. there are few people of your ilk posting here.

I just find it impossible to believe that any company sitting atop all that data would simply file it away and do nothing with it. I don't care if you have got it in writing from every single AVM that was ever created that there is not one shred of data excerpted from an appraisal file in thier database....I just will not believe it.

I don't know where all the cries that it is unethical, or illegal come from--I don't think they have much of a leg to stand on. Now, I know there are several copyright suits that have been won/settled, but they usually were dealing with proprietary information.

But please tell me why oh why you would pay to have someone retrieve information from what you know to be an unreliable source when in most cases you have verified information already in your possession.

It would be like me paying someone to find out where you live, and I have a copy of your driver's license on file.

Personally, I don't give a crap, they can do what they want with my data.

AVMs, even with perfect data, are unreliable at best.

 

[DTB]

So, how do I KNOW- for a fact- that FNC does not use your data to produce an AVM? That one is very simple. They have NO AVM- period. And as I have told you many times before, I happen to know that they are legally barred from producing one (right now) due to a contractual obligation.

How do I happen to know this? Because I have spent literally hundreds of hours over the years with employees and principals of this firm and have had many many discussions with them about it. If they had an AVM from this data, trust me on this- I'd be buying it already.


Since that article I had the opportunity to speak with the Fannie AVM developer who told me directly that they do not mine appraisals to produce their AVM.


So the FNC mined data is not available to you in an AVM, but boy if it was you'd be first in line to buy it.

Fannie who was mining data and using it to produce an AVM, has now stopped. Why?

It just gets curioser and curiouser...

 

[sammiboii]

Good thing, Al Queda wants full floor plans. Beware vendors asking for or encouraging interior wall locations.

Monsieur Rex,

Youse a funny man with your Al Qaeda comments.

Sam

 

[Bama Bayou]

Like Brad said, mined appraisal data can be useful for many things, but building an AVM around it just is not one of them.

One of the biggest obstacles to having a marketable AVM is "hit rate". As anyone here who has used Zillow or other internet AVMs knows full well that just because you ask for a value for a given address it does not mean you will get one.

If you mined the physical data from every appraisal ever produced you would still not get the hit rate that using assessor data would.

The assessor has the physical data for just about every property in their jurisdiction. Using mined appraisal data for an AVM is not practical and just is not good business, that is why no one uses it for that purpose.

It would be like filling up a swimming pool using a shot glass when a hose pipe is right next to you.