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.
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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.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
Owners, on the other hand, know the improvements they've made to the house, and they know what the interior looks like -- key details that AVMs are missing.
All patients who underwent selective uterine artery angiography, imaging showed a well-visualized AVM with tortuous expansion of the blood vessels and early filling veins [Figure 1]c and [Figure 1]d.
She had her delivery by caesarean and subsequently diagnosed with a typical AVM at T2-T6 on spinal angiography.
The long inlet artery (>6 cm) was observed in approximately 92% of patients in which the AVM presented by hemorrhage, and in 21% of patients in which the AVM was not presented by hemorrhage (Utest-189; p<0.01).
Brain arteriovenous malformations (AVMs) are abnormal, congenital connections between arteries and veins leading to arteriovenous shunting without intervening capillary network of vessels [1].
An examination of different cutting-edge AVM approaches constitutes the next section of the book, as topics such as utilizing fuzzy logic in an integrated multiple regression hedonic price model are examined.
In this review we cover the classification and endovascular management of arteriovenous malformations (AVMs).
The right-to-left shunting of blood secondary to a pulmonary AVM can result in systemic hypoxemia, paradoxical embolism, stroke, cerebral abscess, or pulmonary hemorrhage.
In the present case, the patient was female, and the AVM was observed in the right kidney, as in previous reports.
where U is the total number of colonies of the sample without treatment; T is the total number of colonies after treatment with plasma; M is the number of colonies of the mutant strains that produce less AVM B1a than the original strain; and P is the number of colonies of mutants that produce more AVM B1a than the original strain.
In his comprehensive presentation entitled 'Cutting Edge Capabilities at Affordable Cost' AVM Malik highlighted the products offered by the PAC including the JF-17 Thunder fighter jet and maintenance facilities particularly for Mirage fighter jets.