Zillow has proven that automated systems don’t work well, even

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Mar 5, 2019
2:56:08pm

Sandstone Cougar All-American

Zillow has proven that automated systems don’t work well, even

for non cookie cutter homes. Good appraisers still have value.

This message has been modified

Originally posted on Mar 5, 2019 at 2:56:08pm

Message modified by Sandstone Cougar on Mar 5, 2019 at 2:56:49pm

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Sandstone Cougar

Bio page: Sandstone Cougar
Joined: Jan 20, 2012
Last login: Jun 21, 2024
Total posts: 14,981 (153 FO)

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Messages

Author

Time

Real estate appraisals ordered by a lender are worthless.

JAGA97

3/5/19 1:11pm

If the value is at considered at least that amount, they'll just go with the purchase price. If the value is considered

Pimpin4Paradise

3/5/19 1:14pm

And that is why they are a waste. A sales database could give that amount of

JAGA97

3/5/19 1:28pm

Salt Lake County assesses based on a sales database. I can assure you.....

StarMan

3/5/19 1:55pm

Appraisals ordered by a lender aren't for the consumer.

IdahoCoug

3/5/19 1:15pm

Relatively small expense in the overall transaction (you're likely paying lender

StarMan

3/5/19 1:18pm

They are not trying to determine fair market value. They

johnnybyu

3/5/19 1:18pm

RE: Real estate appraisals ordered by a lender are worthless.

ICBlue

3/5/19 1:28pm

Appraisers are in a tough spot when it comes to home loans...

3/5/19 1:56pm

You’ll be happier once that property tax appraisal comes in at that higher value

cougfanz

3/5/19 2:06pm

I disagree whole heartedly. For one, what is the value of any good?

kimdaddy35

3/5/19 2:07pm

It actually sounds like we agree for the most part. I don't see the need for

JAGA97

3/5/19 2:38pm

I'm not in the game anymore, but a few years ago

IdahoCoug

3/5/19 2:50pm

I get why we need appraisals; I just don't think we need appraisers

3/5/19 2:24pm

RE: I get why we need appraisals; I just don't think we need appraisers

ICBlue

3/5/19 2:49pm

Zillow has proven that automated systems don’t work well, even

Sandstone Cougar

3/5/19 2:56pm

zillow's fundamental "flaw" is that it is a product for individual consumers

3/5/19 3:06pm

A lot of lenders already do this for the “easy” stuff, especially

Sandstone Cougar

3/5/19 3:10pm

exactly. it started out as a pilot program at some larger banks

3/5/19 3:13pm

Bill Simmons called it the Milton Berle principle.

Sandstone Cougar

3/5/19 2:54pm

The appraiser of the home I sold a year ago stole 9k

Florwood

3/5/19 3:11pm

Same.

3/5/19 3:12pm

How? When the appraisal came in too low, why didn't you just cancel the

IdahoCoug

3/5/19 3:15pm

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