automated valuation model

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Automated Valuation Model

A computer model that estimates the value of a piece of real estate. While it is not as detailed as a full appraisal of the property, the automated valuation model is used as a substitute in some situations, such as the extension of a second mortgage or the assessment of property taxes. It is not used in considering a primary mortgage, which requires an appraisal.

automated valuation model (AVM)

Originally a computerized method of estimating large numbers of property values in an efficient,if not entirely accurate,manner;frequently used by tax appraisers to periodically reappraise properties for purposes of real estate taxes. A disgruntled property owner may appeal the valuation and present evidence the computer made a mistake in that particular instance. Today, AVM artificial intelligence has progressed to the level of respectability that lenders use it to appraise property for mortgage loan purposes and the IRS uses it to evaluate a taxpayer's assets.

References in periodicals archive ?
AVM accounts for 5, 10, 20, and 30% of CA in the amount.
AVMs are abnormal blood vessel conduits between the arterial and venous systems due to the absence of an intervening capillary bed.
One of these tools, LPS' Distressed Asset Review, combines the accuracy and consistency of an AVM with property condition information.
If AVM technology is not already one of your appraisal tools, it will inevitably become one.
Expertise required by AVM testers--Clarify what expertise is required for performing tests.
What appraisers should be thinking about is how they can come up with a way to resell AVM technology to credit unions and community banks, small financial firms that are not going to go to big tech companies to get that service, says Appraisal Institute associate member William King, president of William King & Associates, a Federal Way, Wash.
In the latest white paper from SoundBite Communications, Automated Voice Messaging Versus Predictive Dialers, the argument is made that AVM is now the most effective contact tool for the collection manager.
AVM will discover venture companies with proprietary technologies and help them grow by utilizing Astellas' experience in and network of its biotechnology business.
After delivery of the embolic material, the liquid quickly transforms into a solid polymer cast, thereby sealing off the vessels in the AVM from blood flow and reducing the risk of rupture.
The AVM registry has enrolled 622 patients, including 328 with unruptured lesions, said Christian Stapf, M.
An Arteriovenous Malformation is often referred to as an AVM.
As a result, AVM has been confirmed in birds from nine different southern reservoirs, including three in Arkansas, one in Texas, one in Georgia, one in North Carolina, and three in South Carolina.