AVMs, Price-Per-Square-Foot, & Appraisal Modernization…
As an appraiser, I’m not a big fan of automated valuation models (AVMs) in general. But, there is one property type where they really drop the ball. When pricing homes with basements or lower levels, the (AVMs) price-per-square-foot formulas are just inadequate....FDIC Slaps Appraisers & Consumers
The Federal Deposit Insurance Corp., the Office of the Comptroller of the Currency, and the Board of Governors of the Federal Reserve are proposing to eliminate the appraisal requirement on certain home sales of $400,000 and below, increasing the appraisal threshold...The Great Real Estate Consumer Rip-Off
The Great Real Estate Consumer Rip-Off Consumers are being cheated by real estate agents every day and no one is trying to stop them. Homes are priced by over anxious brokers who simply want to make a sale. How do they get a listing? They tell the homeowner their...MLS Breakdown?
MLS Breakdowns! Happening in an MLS system near you… Does the MLS advertise price-per-square-foot? Whether it’s the MLS, Zillow, or one of a hundred other automated real estate sites, price-per-square-foot is the most used method for calculating real...
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