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#53338 - 02/02/06 07:22 AM S1 and their AVM
Ben34105 Offline
Ubiquitous Mod
Major Contributor

Registered: 02/25/05
Posts: 2232
Loc: Florida
What is AVM? Whenever I get a clarification request from S1 it's always because the sq ft is different from AVM. Their AVM likes to use the total area instead of living area. I send them tax records and they always accept the work, I'm just wondering what AVM is.

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#53339 - 02/02/06 07:30 AM Re: S1 and their AVM
REO Seller Offline
Member

Registered: 01/24/06
Posts: 323
Loc: So Calif.
It stands for "Automated Vauluation Model". I believe it is a formula that when you input the data it searchs other similar data and applies the formula. I think!

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#53340 - 02/02/06 09:59 AM Re: S1 and their AVM
ggwwttre Offline
Veteran Member

Registered: 06/15/04
Posts: 1187
Loc: Watsonville, CA, USA
Hmmm I saw a note on one of mine that the AVM thought it should have a different price. I don't know what the AVM is but in this instance it had it's head in a dark place.

A little bit of automated QA is a good thing... tell me if I left a field blank, a sold date before the list date, stuff like that... but I asked the Source One rep one time if the guy who wrote that web page was so smart why doesn't he do the BPO himself??? (Yeah, I know, dumb to bitch at the hand that feeds ya, it was a long day) The rep just chuckled and said she understood. We monkeyed with my numbers enough that I could still live with the result and the computer would take it.

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#53341 - 02/02/06 10:06 AM Re: S1 and their AVM
Ben34105 Offline
Ubiquitous Mod
Major Contributor

Registered: 02/25/05
Posts: 2232
Loc: Florida
I've pretty much given up on their support staff. A few weeks ago I was completing a BPO for them and the auto save came up. I clicked to save it and an error happened. I tried to log back on their website and it said website not found, so I called them. They told me to update my status online. I explained I couldn't sign on to their website and they told me again to update my status online. Guess I was missing something that day.

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#53342 - 02/02/06 02:26 PM Re: S1 and their AVM
Dennis Teasdale Offline
Member

Registered: 12/11/04
Posts: 231
Loc: Midland Texas
I tend to question the validity of an "automated valuation" system. The only thing constant about real estate market dynamics from initial development through the seasons to deterioration and then renovation and rebirth, is constant change. Maybe I just don't know that much about it.
_________________________
Dennis Teasdale
RealtorŪ, GRI
Broker

Dennis Teasdale Realtors
www.DennisTeasdale.com

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