Arizona Appraisal Blog For Lenders!

October 2nd, 2007 7:54 PM
The popularity of quick online AVM's (Automated Valuation Model) indicate a need for education as well as a need for appraisal-driven products.  The problems inherent in cheap, easy solutions will become increasingly apparent as indiscriminate reliance on AVMs causes lenders to lose money.  Developements like the New Century debacale-in which the country's largest subprime lender went bankrupt earlier this year, causing the loss of 3,500 jobs  - and the use of AVMs in declining markets will create opportunities and show the importance of appraisers (live people/appraisers doing valuations). 
Comments from Valuation Magazine By: C Nicolay.

Posted by Mark LaPore, Certified on October 2nd, 2007 7:54 PMPost a Comment (5)

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