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Bank of America. Like most AVMs, Bank of America’s home valuation tool needs only a street address to come up with an estimate. It displays basic details of the home, such as the property type ...
“The estimator will use the information entered to show an estimate of what your property tax bill in the fall may look like at the 4% ‘legal residence’ and 6% ‘non-legal residence or ...
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Appraisers, investment professionals and lending institutions use AVM technology in their analysis of residential property. An AVM is a residential valuation report that can be obtained in a matter of milliseconds. It is a technology-driven report. The product of an automated valuation technology comes from the analysis of public record data ...
It also includes analysis by geography, type of buyer, type of dwelling, property status (whether the property is a new build or not), and funding status (cash or mortgage). Several guidance documents[2] are published alongside the release explaining its methodology and the difference between the different sources of official house price ...
The accuracy of home value estimator tools has become such a topic of debate, in fact, that a group of Chicago homeowners once sued Zillow over their allegedly inaccurate estimates.
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