MortgageDaily – bAppraisers Claim AVM Overvalues Properties/b
The Appraisal Institute announced the results of a new study outlined in its quarterly newsletter.
The researchers examined how Zillow’s AVM estimates, or "Zestimates," compare to actual sales prices.
The study found that 40 percent of home in the sample were overvalued by Zillow by more than 10 percent when compared to actual sales prices.
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