Cleveland, OH (PRWEB) April 21, 2006
UappraiseIT.com launched a new and unique web interface for consumers and professionals to order “real” appraisals, back in January of 2006. As a home is the largest investment that a consumer will make in their life, UappraiseIT felt that consumer education and the use of certified independent appraisers and valuation products, made sense considering the current downturn in regional markets. Backed by a nationwide network of more than 10,000 independent certified appraisers, covering every county in the country, homeowners and professionals alike now have the ability to find, utilize and pay for an independent appraisal, 24 hours a day with just the click of a button in order to determine the supported value of their home.
Recently, there have been a number of companies that are conveying to the general public that an AVM solution or a full blown inspection are virtually all that exists in regards to finding the value of your home. We encourage homeowners to be informed and have tried to effectively note the difference between valuable USPAP compliant products and $19.99 specials within our blog (http://www.uappraiseit.com/homevalues/2006/04/04/Whats+The+Difference.aspx).
The Question: What is the number one concern of homeowners?
Answer: If their home has appreciated, depreciated, or remained the same in value.
We are not owned by a bank nor do we own or operate any number of other financial services that benefit from the value of the home. It is important that consumers realize what they are purchasing as opposed to just accepting what a company is providing. Companies like Electronic Appraiser offer an AVM:
AVM stands for Automated Valuation Model, a computer generated report. Using computer mathematical equations based on public records or other like data sources, the report is compiled without human hands. It takes into consideration past market trends, factual neighborhood analysis, tax assessments and other factors to determine the most logical value of a home. There is no involvement of an appraiser or person during this process and each company that offers it, uses their own set of calculations to achieve the final report.
With technology evolving it is arguable to state the validity of any of these reports. Each AVM provider states the obvious boasts: most coverage, accuracy, consistency, quality, etc. Everyone in the market claims that his or her product is cheaper, faster, and improved.
The recent addition of eAppraiseIT to the list of Electronic Appraiser products although capable of delivering values in the form of a 1004 may be overpriced and not explained clearly enough to the consumer as they make their choice between a $29.99 product of collected public information or a product priced at “$375” which is on average higher than what UappraiseIt.com is offering and what the consumer especially in the cost sensitive market of FSBO should be paying. The collective group has also omitted the offering of exterior only inspections and hybrid AVM products called AVMAAs (AVM assisted appraisals). Both of these products may add value to a consumer experience and should not be omitted.
Feel free to reference our “What’s the difference” article which further explains some of the key differences in valuations.