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What's Your Home Worth?: Several Ways To Find Out

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Francois K. Gregoire

Senior Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Florida
http://www.usatoday.com/usatonline/20021206/4680659s.htm

SOURCE: USAToday-12-06-2002

[Please note that Frank Gregoire (distinguished appraisers-forum member) is quoted in the subject article.]

:D :D :D

Julio,

Thanks for pointing this article out and posting. It's a great example of how a writer can condense a 40 minute interview into two inconsequential lines. We did not discuss Civil War burial grounds.

But my name was spelled right.
 

Blue1

Elite Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
California
That's O.K. Francois, you still came off well. :wink: BTW I've only seen 1 CMA......in 10 years!!!
 

Steve Owen

Elite Member
Joined
Jan 16, 2002
Professional Status
Certified General Appraiser
State
Missouri
Good work, Francois. Too bad they didn't get into some of the reasons prices have fallen in certain markets and/or some of the stuff about predatory lending. Still, not too bad overall.

Interesting, the article says that homeowners in Missouri (and th other six states) are at a disadvantatge. Property owners in Missouri think that they are at an advantage because they don't have to share information about their private sale with the public.
 

Fred

Elite Member
Joined
Jan 15, 2002
Professional Status
Retired Appraiser
State
Virgin Islands
I like this line:
"It [AVM] works best when the user can provide a past sale price for the property, or the value assigned in a previous refinancing. "
:lol:
Does anyone actually read this stuff? It "works best" when you give it the answer as part of the inputs.
 

Mike Simpson

Senior Member
Joined
Jan 30, 2002
How the AVM's working in your neck of the woods?

I have clients who're nothing but frustrated with the value estimates these things are spitting out. Their typically $20-$25k high even for homogenous neighborhoods. "Told ya," I tell them (how come their never low?).

Garbage in equates to garbage out. I've inspected 3 homes in the last 6 days which were nothing like the information contained within the County Records (i.e., square footage, style/design, room count, etc...).

In the right hands AVM's are a valuable tool, in the wrong hands they're a danger to our economy. The only way they'll ever be accurate is if trained, ethical appraisers input their information into their data banks, and how's that gonna happen when they want our health care, retirement $$$'s, and vacation pay for the previlege of working w/them?

Talk about Point of Diminishing Returns!

-Mike
 
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