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Interesting results in online AVM

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Pamela Crowley (Florida)

Thread Starter
Elite Member
Joined
Jan 13, 2002
Professional Status
Retired Appraiser
State
Florida
I just ran a 'value' on my address in homegain.com. They didn't give a value but listed the local sales and had only the highest priced ones. Skipped one that was this year at a lower price.

What a scam! I wonder who edits their info?????
 

Restrain

Elite Member
Joined
Jan 22, 2002
Professional Status
Certified General Appraiser
State
Florida
I've had these things given to me for support for a higher value instead of my appraised value. The home sales are inaccurate, have pools, etc that are not shown, have incorrect sales prices, sometimes are completely out of the neighborhood, and sometimes don't exist.

Garbage In, Garbage Out.

Roger
 

Leon Stewart

Member
Joined
Jan 15, 2002
The bad thing about these AVM's is that they have been allowed to enter the Appraisal Business as a tool to influence market values.

leon
 

Pat Butler

Senior Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
Illinois
Better yet, read a newspaper from a large city where there might be a story about a house that just burned down the day before. Run the AVM on that address----- results as expected.
 

Blue1

Elite Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
California
AVM's oughta be illegal to use as an appraisal in my opinion. However, I'm not against Realtors being able to use them.....at least SOME Realtors would have SOME kinda data source to base their listing price on 'cause they're certainly not doing any Comparative Market Analyses!

I don't know what some of these guys are :drinking: or :silly: but apparently it's quite :Fade-color shall we say "mind altering?" (Not "bashing" ALL Realtors jus the :silly: ones)
 
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