Lynn Kennedy, a contributing consultant at AV Metrics, provides us the Market Summary for Los Angeles County featured in Mobility Magazine, July 2019. http://www.nxtbook.com/ygsreprints/WERC/mobility_072019/index.php#/30 Learn more about Mobility Magazine, the magazine of the Worldwide ERC, dedicated to professionals involved in talent mobility. www.worldwideerc.orgRelated Terms:Term: Market Read more
As always, changes are coming to the valuation industry. These changes have been germinating in government and industry for a long time, but they’ve made progress in the last year, and I believe that they’re likely to emerge sometime this year. I expect that we may see more regulatory changes… Read more
After determining that a transaction or property is suitable for valuation by an Automated Valuation Model (AVM), the first decision one must make is “Which AVM to use?” There are many options – over 20 commercially available AVMs – significantly more than just a few years ago. While cost and… Read more
For more than 12 years we’ve been testing AVMs and watching them improve over time. More model builders have developed better techniques, and with the falling cost of processing and storage, and with the improving availability of data, AVMs just continue to get better and better. We aren’t the only… Read more
AVMetics’ ongoing independent AVM testing continues in 2019 according to the attached schedule. Please use the link below to download a pdf with the entire 2019 testing schedule. 2019 AVM Validation Testing DatesRelated Terms:Term: MarketTerm: De Minimis ThresholdTerm: Highest and Best UseTerm: ValuationTerm: AppraisalTerm: Real EstateTerm: AccuracyTerm: EfficiencyTerm: ConditionTerm: HomogeneousTerm:… Read more
Recently the OCC, FDIC and the Federal Reserve proposed raising the de minimis threshold for residential properties below which appraisals are not required to complete a home loan. Currently, most homes transacting at $250K and above require an appraisal, but Federal regulators propose to raise that level to $400K. A… Read more