123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Home-and-Garden >> View Article

Computer Value Estimates Vs Professional Home Appraisal

Profile Picture
By Author: Steve Leavitt
Total Articles: 3
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

Computer home value estimate programs known as AVMs (Automated Valuation Models) can be a useful tool to quickly check the value of your home. But are they accurate? Technology has become more advanced and a computer can access the selling price of homes nearby and the square footage with an algorithm that determines the value of your home based on price per square foot in the area. But can a computer do a better job of estimating the value of your home than a real estate appraiser?

Likely not.

That’s because computers do not have the ability to take into account the specific nuances of a home including quality, condition, updating, and living area - especially if the home has additions. There is no human interaction with the computer valuation and it cannot generate an educated estimate without seeing the home.

Additionally, while computers can look at patterns of data, they are relatively poor judges of just which data is most important in the sale of real estate. In order to truly see a pattern, you need to have years of home appraisal experience ...
... within the local area and have some knowledge of predictable trends that occur throughout time.

Computers take into account one zip code and average out the price per square foot for the entire zip code. But they have no way of knowing the condition of the home. Your home might be a new build in a brand new neighborhood with all the finest finishes, while another home 10 miles away in the same zip code is 12 years old and is the worst looking home in the neighborhood. A computer will estimate they are the same price per square foot, while a professional home appraiser likely will not.

In addition to these nuances, if you were to have an AVM done on your home by several different companies, the results could vary by 20% or more. If you have more than one home appraisal completed by qualified appraisers, it is likely that the results would be very similar.

I recommend betting on the home appraiser rather than a computer simulation.

Total Views: 228Word Count: 348See All articles From Author

Add Comment

Home and Garden Articles

1. Sustainable Sanctuary: Eco-conscious Interior Design Trends In Mallorca
Author: Samantha Knight

2. Your Ultimate Guide To Finding Quality Online Plumbing Parts
Author: Beyond Plumbing Supplies

3. Growing Mediums For Cannabis Cultivation: Soil, Hydroponics, And Aeroponics
Author: doris zhang

4. Ultima Search Rodent Control: How They Work And Why You Need Them
Author: Ultima Search

5. Ensuring Home Integrity: The Critical Role Of Gutter Repair And Maintenance
Author: Gutter Empire Vancouver

6. Mastering Gutter Maintenance | Protecting Your Home In 2024
Author: Gutter Empire LLC

7. Fly Ash Bricks In Madurai
Author: seoexecutive

8. Real Estate & Plots In Madurai
Author: seoexecutive

9. Apartment Buildings In Madurai
Author: seoexecutive

10. The Benefits Of Greenhouse - Creating Your Own Oasis For Year-round Gardening
Author: Sis Zhang

11. 5 Spring Tips For A Better Lawn This Year, Prescription For A Lush Lawn From Lawn Doctor
Author: Steven Dubin

12. 5 Common Cleaning Mistakes You Might Be Making
Author: Gerald KN

13. Peasley Moving & Storage
Author: Peasley Moving & Storage

14. Professionella Rörinstallationer I Norrtälje: Lösningar För En Bekväm Och Effektiv Vardag
Author: rormokare i nykvarn

15. Rörmokare I Solna: Professionella Vvs-tjänster För Ditt Hem
Author: rormokare i nykvarn

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: