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Thursday, January 25, 2007

What is AVM? (Automated Valuation Model)

AVM is short for "Automated Valuation Model". Appraisers, Wall Street and Lending Institutions all use AVM technology in their analysis of residential property. An AVM is a residential Valuation Report that can be obtained in a matter of seconds. It is a technology driven report. The product of an automated valuation technology analysis, public record data, and computer decision logic combined to provide a logical calculated estimate of a probable selling price of a residential property.

An AVM generally uses a combination of two types of evaluation, the running of a hedonic model and a repeat sales index. The results of each are weighed, analyzed and then reported as a final estimate of value based on a requested reasoning date.

Each AVM includes:

> A highly accurate market value estimate for residential property nationwide.

> The Tax assessor’s indication of value, where appropriate.

> Subject property information and sales history.

> Comparable Sales analysis of like properties.

Electronic Appraiser uses this same AVM technology to deliver a Complete Property Valuation over the Internet; it is highly accurate, and easy to use via any standard web browser.

Electronic Appraiser has the tools you need to determine property values. Now you can see the same home values, property data, sales comparables, and supporting real estate sales data that Lenders use to make risk decisions for mortgages, home equity loans, and credit lines.

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What is AVM? (Automated Valuation Model) ~ - Instant Accurate Home Valuations - Blog