AVM360 Newsletter

Appraisal News for Real Estate Professionals had an earlier post about the "4th Approach To Value" and the upcoming AVM360 Newsletter. Today they've announced that the AVM360 newsletter is here and looking for subscribers. The following is from their email announcement:

Vicky Cassens Zillioux Launches AVM360 News

We are starting a new concept in the AVM industry. No, it’s not a new AVM . Aren’t you glad? It’s up-to-date information to keep everyone ahead of the curve as to what products are out there, what the industry is saying about them, and where they are going next. Our goal is for AVM360 to become THE portal for gathering information and asking questions from others out there who are working with these products in some way or another. The AVM industry continues to be controversial and, despite all the dire predictions and wishes of disaster, the automated valuation products are here to stay. How do the lenders feel about these products? The trend is moving towards AVMs being used in the first mortgage market. The large lenders are pushing at the secondary market for acceptance. How is that going? How are AVM assisted appraisals being received? Some secondary market players think they are great – adds the subjectivity that is missing from the AVM. How do the regulators feel? Some would prefer the unbiased opinion of the AVM and are concerned that putting the appraiser back in the mix only decreases the objectivity. Which opinion is the correct one? Or are they both right? AVM products seem to come in many different styles and sizes with a variety of accessories that can be added for increased information and broader market view for risk analysis. Rather than just indicating a value, the market expectation for AVMs today is that they give additional insight of some kind – market information, fraud identification, or even photos of the rooftops in a neighborhood. Everyone is competing for the latest new ideas to differentiate their products from the pack. The struggle to avoid commoditization is increasing and as a result, some very interesting products are being developed. At AVM360 you will be able to read about and discuss these products with industry experts as well as others who are interested in the latest AVM trends. At one time, the AVM products produced only a value and perhaps a confidence score of some type with some additional sales thrown in to help the client get a snapshot view of properties being sold in the area. And if a lender wanted to get a bit more complicated, a cascade product was developed to allow the client to run several AVMs in case the preferred product was not able to supply a value for one reason or another. Now the variety of choices for AVM products has expanded to perhaps 20 valuation products, most having a variety of choices for additional amenities. The market has become more complicated and confusing. It’s hard to keep track of the products that are out there – AVM360 is designed to help the industry keep its finger on the pulse of this fast moving pace. We will be interviewing venders about their latest technology. And we will be interviewing their clients as to how they like these products and what they would like to see in addition. Great information for both the vendors and the clients! Have you heard the debate over “appraiser assisted AVMs” vs. “AVM assisted appraisers”? What is out there regarding this hybrid approach, who is using them, and who is accepting them on the secondary market? What is the deal with the insured/warranted AVM products? Is there a difference between insured and warranted? How are these products being received in the market? What AVMs are available to appraisers? Are lenders interested in receiving these products directly from the appraisal community? Are you aware that AVMs are becoming very popular in other countries as well as the US? These are all questions that we are going to answer both in our newsletter and on the AVM360 Forum where the discussions and questions can be very specific. We will highlight new products coming on to the market, give an update and review of what existing products are doing. We are interested in hearing what topics you would like us to research or address in the newsletter that will be published every 2 weeks. For those of you who are inflamed by this topic or simply uninterested we are maintaining a separate email list. You may unsubscribe from AVM360 and keep grooving along with the valuable information you receive through Appraisal Buzz. Just follow the links at the bottom of the newsletter for subscribe and unsubscribe information. And let us hear from you. Contact us with any questions or comments at vicky@appraisalbuzz.com. Vicky Cassens Zillioux Editor Appraisal , Real Estate, Appraiser , Technology