Automated Valuation Model Web Site Warning

An Appraisal Institute member warned consumers that an automated valuation model (AVM) Web site, Zillow.com, may be offering value assessments that are not reflective of true value.  Mark Hepner warned consumers about discrepancies between Zillow.com’s home values and those determined by a qualified appraiser.  He said the estimates often contained faulty information and/or neglect to account for home improvement.

Read more about it and other appraisal updates at Appraisal Institute.