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Online (Desktop) Appraisal
Desktop Report
Exterior-Only (Street View) Appraisal
Exterior-Only Report
Home Appraiser in Madison and Milwaukee
Home Value Process
Online/Desktop Appraisal
Given the advancement of online platforms and technology, ValCore Appraisal now offers the ability to conduct a "desktop" real estate appraisal, otherwise known as an "online appraisal." When completing an online/desktop appraisal, we provide the same level of back-end research and analysis, and data/number crunching as a standard appraisal. The major difference between a desktop appraisal and the "standard" appraisal, is that in a desktop appraisal, the property appraiser does not conduct a physical walk-through of the property.
No Appraiser Walk-Through
The biggest difference between a standard appraisal and a desktop appraisal is that in a desktop/online appraisal, a physical walk-through/inspection of the real estate is not conducted by the real estate appraiser. In some cases, a physical property inspection is recommended; however, in cases where adequate market data and pictures of the property are available, a physical property walk-through/inspection may not be necessary. In either case, we do provide customers the ability to provide interior and exterior photographs of the subject property.
Data Collection & Verification
We still collect and verify data subject property data and comparable sales data. We also ask and verify details about the subject property with the property owner (or a trusted contact), such as interior condition, recent upgrades or renovations, property history, etc.
Differences Between an Appraisal, AMV, and CMA
What is the Difference Between an Appraisal, AMV, and a CMA?
A real estate appraisal is an opinion of value generated by a licensed real estate appraiser. This estimate is based on a thorough analysis of market data, comparable sales, property condition and other factors that influence the value of a property. Additionally, a real estate appraisal has to abide by reporting standards (USPAP) and is also signed by a real estate appraiser,
AVM
An automatic valuation model (AVM) is a mathematical model that compiles recent sales and uses algorithms, to estimate the value of a property. AVMs are often faster and less expensive than a traditional appraisal, but their accuracy can vary and they may not take into account all the factors that a professional appraiser would consider.
BPO
A Broker Price Opinion (BPO) is an estimate of value provided by a licensed real estate agent or broker. BPOs are generally used for less informal purposes and generally contain less analysis and are more concise than a real estate appraisal.
CMA
A Comprehensive Market Analysis (CMA) is a document containing an aggregate of sales, and is typically generated by real estate agents or brokers, directly from the MLS, in order to assist clients in determining the price of a property for sale or purchase.
Real Estate Appraisals are More Reliable
Real estate appraisals that are completed by a licensed real estate appraiser are generally more accurate and reliable than what is generated by an Automated Valuation Model (AVM) software, a Broker Price Opinion (BPO) and a Comprehensive Market Analysis (CMA) conducted by real estate agents.
The reason why appraisals are more accurate is because a trained real estate appraiser researches the particular property and verifies the findings with all publicly-available data and with the property owner, to deliver an accurate assessment (and valuation) of the property. Additionally, licensed appraisers go through years of education and training to become experts in valuation, and oftentimes can assess a property in better ways than automated model can.
AVMs and BPOs may have Errors in Reporting
As mentioned above, AVMs, BPOs, and CMAs generally do not research or verify the the subject property and the comparables utilized in the analysis. Some ways that a real estate appraiser verifies information regarding the comparables utilized is by calling the real estate agent(s) involved (if applicable), verifying information with the property assessor, as well as reading the MLS description, MLS documents uploaded, and looking over the MLS photographs provided in the listing.
Some information real estate appraisers verify include the following: total size of the property, the size of any finished basement area (if any), any recent improvements/additions, applicable zoning ordinance(s), the number of bedrooms and bathrooms, and any other factors that may contribute to value (such as a den, fireplace, garage, etc.). In the case where a physical inspection by the appraiser is conducted, the appraiser verifies the building's size, which is sometimes different than what is listed in the MLS and public records (due to a recent update/renovation/addition), or inaccuracy in reporting and/or measuring.