Interesting results in online AVM

[Pamela Crowley (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]

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]

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]

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.

 

[Pamela Crowley (Florida)]

And BOA wants those desk top 'appraisals' signed by an appraiser????

 

[Blue1]

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 or :silly: but apparently it's quite :Fade-color shall we say "mind altering?" (Not "bashing" ALL Realtors jus the :silly: ones)