I am not doing the 3.6 FORM deal

[J Grant]

d

Dude - that was a lifetime ago WRT valuation technology. I remember back in the day doing an analysis of AVM's and their accuracy. We compared AVM values to some 5,000 home sales across the US - the accuracy rate then (circa 2010 +/-) was around 80%. I'd hazard now that most of them are better than 95%. The key for the folks trying to figure out how to lean on AVM's even more in their risk management roles is trying to figure out how they can determine which homes the AVM's are gonna be wrong on. And to your point - it's the albatross homes.

To use your home as an example, why would you need an appraisal if you're in a homogeneous market? (and, of course, you have a good idea of property condition - which you get with the PDC)

You never did say whether you think Zillow (or Redfin) is accurate for your place?

Why is it a benchmark of "accuracy" for an AVM compared to the SALE PRICE?

Appraisers are opining market value, not sale price. It is a closed loop to use AVMs based on sale prices and then judge them by how close their result is to the sale price !

 

[djd09]

the common lap dog sits nicely and waits for instructions...

 

[Zoe]

the common lap dog sits nicely and waits for instructions...

Who is your daddy? Who is your master? Are you my employee?

 

[djd09]

gse appraisers are quasi employees...

 

[Zoe]

Independent Contractor vs. Employee: Updated IRS Rules

Learn the IRS definition of employee vs. independent contractor and how the new 2025 rules impact classification, payroll taxes and employer compliance.

www.cbh.com

What Is the Difference Between an Independent Contractor vs. an Employee?​

One key difference is that an employee has their wages reported on a W-2 form annually with employment taxes paid under a prescribed schedule and reported quarterly on Form 941, while an independent contractor receives a Form 1099-NEC from the entity to whom services are rendered with no tax withholding.
There are also a few other ways an employee differs from a contracted worker:

[td]Employee[/td]
[td]Contractor[/td]

[td]

Employer has control over what work is completed and how​

[/td]
[td]

Client oversees the completion of the service but only has control over the outcome of the work ​

[/td]​

[td]

Hired by another person, business or entity​

[/td]
[td]

Self-employed​

[/td]​

[td]

Paid a salary or wage​

[/td]
[td]

Paid based on the service completed​

[/td]​

[td]

Income is reported using a W-2 form​

[/td]
[td]

Receives a Form 1099-NEC from clients​

[/td]​

 

[djd09]

it is worse then that...not only are they the appraisers employer...they are also their competition

 

[Zoe]

it is worse then that...not only are they the appraisers employer...they are also their competition

It sure fits IRS definition for employer with GSE and appraiser for employee.

 

[djd09]

It sure fits IRS definition for employer with GSE and appraiser for employee.

absolutely...but just no benefits...and no looking at CU

 

[Zoe]

absolutely...but just no benefits...and no looking at CU

But I am for appraisal independence and Customary and Reasonable fees as long as my fees are included in Customary and reasonable fees.

Don't get me going boy. You know how bad I was on my girlfriend Ms. Trice.

I was beyond a thorn in her side.

 

[djd09]

yeah appraiser independence...no person shall attempt to influence the reporting or development except for fannie