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  • Comment Detail

  • Date: 01/15/21
    First Name: Frank
    Last Name: Caba
    Email: cabarealtyservices@gmail.com
    Organization Type: N/A
    Organization: Caba Realty Services

  • Comment

    AVM's are a joke and an insult to the banking, real estate industry and most importantly the borrower who is impacted greatly by the actions and results that those first two obtain through the usage of AVM. I continue to be astounded by the fact that institutions that people depend upon for their investment and the Federal government which insures their performance would issue funds for many thousands of dollars and try to skimp on paying an appraiser a few hundred to actually inspect the property and perform a market analysis related to that subject and the inspection. Condition and modernization of older improvements are the linchpin of value and no amount of market analysis and history can determine which of those salient aspects of a piece of real estate exhibits. Needless to say this also includes the current fad to shortcut this process in the name of the viral pandemic. It is human nature to "puff up" the features of a property and only a visual tour by an experienced appraiser can determine if the boasted upon improvements are actually present or if they were there prior to the last transfer. Fear has damaged our economy, changed our lending process and leads to my fear that we will once again experience the banking calamity of 2007.