How are appraisals different from an automated value estimates (AVM’s)?
Key differences are:
- Mass-marketed AVM reports do not comply any state valuation laws, rules, or ethical requirements.
- They make no expert judgment about any aspect of the data they collect, its accuracy, or even its relevance to your particular home and market.
- These products often lack basic information on home features and do not take into account potentially important factors such as differences in location, views, physical appearance, condition, quality, or basement finishing.