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For 2018, Robotic Costa Mesa Real Estate Appraisals Gain Traction!
Some predictions for New Year 2018 may be controversial, but one trend is beyond question: almost every sector of everyday life in Costa Mesa will continue to be transformed—either incrementally or massively—by automation of one sort or another.
Hordes of self-driving cars and trucks aren’t likely to take over Costa Mesa streets this year, nor will Robocops start patrolling our neighborhoods. But one area that’s being affected more quickly than expected comes in the realm of Costa Mesa real estate appraisals.
Needless to say, since Costa Mesa appraisals establish the collateral value of any piece of real estate, that’s a change that could affect both Costa Mesa home buyers and sellers. Our human expert appraisers won’t soon to be out of a job, but when it comes right down to it, the semi-governmental duo of Freddie Mac and Fannie Mae are now beginning to tilt toward accepting a robot’s word for it. As The Washington Post headlined, “Fannie and Freddie say appraisals are not always necessary.”
Without getting too far into the technical ins and outs of home appraisals, Fannie and Freddie have been rolling out versions of ACE (Automated Collateral Evaluation) models for transactions that qualify for certain mortgages. They say it ... more

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