How to provide an AVM

[ROBERT JONES]

Does anyone know how I can provide an AVM to a customer. Is there a service, is it software I can purchase? I want to investigate the attempt to create a multi-state AMC-like Appraisal Company to head off the HVCC scare for the lenders.

 

[Jungle Boy]

I'm able to give a partial answer.

Using REALIST, I'm able to choose what I think could be the most comparable sales. I can pick and choose living area, site size, year built, location, subdivision. Then the program gives 2 "values", based on the square footage, and also based on the assessed values.

Of course, this only takes into consideration the most recent closed sales prices, and does not take into account market conditions.

Assumptions are made on condition, appeal, upgrades, etc.

I never used this to base value opinion on, but it can be helpful in other ways.

This could be considered an AVM, but I'm not sure.

 

[Lee Lansford]

Does anyone know how I can provide an AVM to a customer. Is there a service, is it software I can purchase? I want to investigate the attempt to create a multi-state AMC-like Appraisal Company to head off the HVCC scare for the lenders.

Who are you markting to with your desire to provide an AVM service?

If you are looking to serve a large-scale lender, they already have access to AVMs.

If you want to serve the general public, I believe that there are enough websites that provide an AVM for their use.

Again, who are you marketing to?

 

[The Warrior Monk]

See AO-18:

http://commerce.appraisalfoundation.org/html/USPAP2008/AOs/ao_18_.htm

 

[bcoester]

You can get reseller account with different AVM providers. I know Realquest and Corelogic have them. The AVM is run through there server and there infomation. You intergrate the login and sign up with there information via your website. I was in the process of getting signed up but havent had the time to get someone to intergrate to the website. You get a fee split. But if you have alot of people coming to your website you can bring in a few thousand a month.


Brian C Coester
Coester Appraisal Group
www.coesterappraisals.com

 

[ROBERT JONES]

Lee, I am thinking BIG! I know that the big boys like Wells Fargo etc have access to the AVM products - but I don't want to get blanked for not being able to provide such a service. My father always said - "Every customer he has used to be someone else's before him". So why not me and Chase buddying up! I am only investigating, day dreaming a little maybe, just trying to think of a way to increase business.

 

[Ray Miller]

Sorry to bust your bubble, but Chase all ready has thiers.

Just put you together a bunch of real estate agents, pay them 15 pelts for giving you BPO's then resell then for $19.95 each.

Did mailing of post cards to brokers in a nine county aear for my up coming auction this week in and 15% of the cards were returned, "unable to forward".

 

[Workbox]

Call Zaio, they will be glad to help you. Great group of Folks, the best in the Broth, they all willing to help you.

 

[moh malekpour]

Lee, I am thinking BIG! I know that the big boys like Wells Fargo etc have access to the AVM products - but I don't want to get blanked for not being able to provide such a service. My father always said - "Every customer he has used to be someone else's before him". So why not me and Chase buddying up! I am only investigating, day dreaming a little maybe, just trying to think of a way to increase business.

Robert,
You are 20 years late to think big about AVM. It came to market long time ago. Many lenders, including Fannie Mae, Freddie Mac, Wells Fargo, Countrywide and Washington Mutual made very risky decisions last few yours to utilize computer generated appraisals (known as AVMs) instead of licensed real estate appraisers. They are paying for their stupidity now.

 

[Bama Bayou]

I started my involvement in AVM's in 1990. I got out when the talk of "tweaking the model" because of "low values" started. They are not going away, but I can assure you it is a long learning curve with these animals.