Real estate blog entries tagged with avm by Charlotte Home Loans

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Home : Blogs : Charlotte Home Loans - Your Charlotte Mortgage Lender : Mortgage in Charlotte NC : Tag "avm"

avm: AVMs, ZILLOW, and REALITY - 06/13/08 08:59 AM

AVM: Automated Valuation Model. A system by which public data is interpretted to come up with an estimation of a property's value. Many lenders rely heavily upon AVMs. IN the past, some lenders used ONLY AVMs in their lending decisions, a practice that has left many of them facing major defaults and losses. Today, AVMs are more typically used by lenders to validate the value of an appriasal. If the appraised value and an AVM value are dramatically different, the lender will require a review of the apraisal, or a second appraisal. To ensure the validity of the AVM, lenders actually … (6 comments)

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