Online Automated Valuation Models

Online Automated Valuation Models, known as AVM's, or Comparable Sale Reports are basically databases online that try to match up similar properties to give you an idea of the range of sales prices that has historically been recorded. This information is limited to factual data, such as how big the house is, the number of rooms and bedrooms, age of the house, and distance surrounding the house. Some databases used historical information, taken from mostly county record data. Some databases are collecting information from appraisal reports, where a property's physical characteristics are being verified by a real human being.

Details as to the level of updates, remodeling, overall level of appeal are not typically available with raw data. This would require a "Qualitative Analysis" based on reasoning and most of the models (the way databases do the search) typically don't have the ability to make such judgments. Also, if in the marketplace where the house is located, sales prices change rapidly, then historical data may give you a false reading of current conditions. You can think about or determine if your market area is experiencing this trend, up or down. The key to any AVM or CSR is to use you OWN judgement, just like an appraiser does with raw data. At least drive by the comparables to see if they are similar or verify the data with one of the market participants (buyer, seller, broker).

However, if the house you are searching for is located in a market where sales prices do not vary a lot, then an "AVM's" or "CSR" is a good first step to get an idea what most houses similar to the one you are searching for are selling for.

It has become apparent, that for some housing, some locations have a fairly tight range of sales prices and over time do not change much. Users or readers of typical appraisal reports are searching for simple, quick and easily obtainable data to make a decision on real estate, whether it be to list a property for sale, buy a property, make a loan on a property, or a need to know or determine an estimate of value. Also, its a good practice to check on new or recent listings and pending sales in the location to determine "current" market conditions. Listings and sale pendings reflect the most recent competitive alternatives to the property your are researching.

The reliability and confidence levels of AVM's or CSR's vary a great deal. It requires the user to think and make judgments concerning the data presented in the reports or raw data presented.

In the meantime, the Appraisal Network is proud to introduce, search and find web sites which have taken the first step in this new and growing field. The companies listed below have taken the time and energy to developed online databases. Some of the data is free and some of the data will cost you a little to obtain. Some databases are incomplete in the capabilites and quality of data and some databases are very complete. Feel free to comment how the databases help you.

Company	Product	Access	Cost

Trans Union	AVM	Account	N/A

C&S Marketing	AVM	Account	N/A
C&S Marketing	CSR	Account	N/A

CSWOnline	AVM	Online	$35.00

Experian	CSR	Account	$9.95

Integrated Loan Services	AVM	Account	$35.00

HomeValueCheck	AVM	Online	$14.95

Lender Services, Inc.	AVM	N/A	N/A

McKissock Data Systems	AVM	N/A	N/A

MRAC	AVM	Account	N/A
	CSR	Account	N/A

Transamerica Intellitech	AVM	Account	N/A
Transamerica Intellitech	CSR	Account	N/A

Real Estate Almanac Inc. (REA)	AVM	Account	$30.00
	Various	Account	N/A

realTrend^TM Report	CSR	Account	$10.00

RESICOM	Analysis	Online	Free

Q-Val^TM Report	AVM	Account	$50.00

Yahoo! by Address	Analysis	Online	Free

Yahoo! by Price	Analysis	Online	Free

VeroVALUE AVM	AVM	Account	$29.95