Comp Data In Appraisal Reports Mostly Accurate: Corelogic

[Mike Kennedy]

Comp Data in Appraisal Reports Mostly Accurate: CoreLogic
Data in the MLS accurately matched public-record data 91 percent of the time, according to a CoreLogic study on the accuracy of comparable property data used in appraisal reports. The March 23 study showed that 6 percent of the time, data showed property price discrepancies of less than 0.25 percent. > FULL STORY

that s/b matched often-erroneous public record data

 

[J Grant]

y different from my experience...matches up about 50% of the time...sounds like CL wants to justify automated reports since the data from MLS is so trustworthy...who can see their studies to review them independently?

 

[Terrel L. Shields]

Data in the MLS accurately matched public-record data 91 percent of the time

Neither are verified in field though. That is to say we can probably conclude 91% of listings use the assessor's SF measurements

 

[J Grant]

it matches public records including garage and porches in living area , so in that sense they are "right" lol

 

[Thomas Holding]

That statistic might hold water for new construction, but I can tell you from personal experience in working as both a fee appraiser and a tax appraiser that since the majority of property owners never review their tax data (at least in the counties I've worked in) it is impossible to verify that claim. In North Carolina, general guidelines are for properties to be visited about once every eight years unless there is some type of construction permit that would require a visit. I would never entirely rely on assessors data unless you had nothing else to go on.

 

[Terrel L. Shields]

9 times out of 10 no one is coming around that blind corner you are cutting.