AVM meaning in Business ?

Answer:

What is Automated Valuation Model mean?

Automated Valuation Model (AVM) is the name given to a service that can provide real estate property valuations using mathematical modelling combined with a database. Most AVMs calculate a property’s value at a specific point in time by analyzing values of comparable properties. Some also take into account current asking prices, previous surveyor valuations, historical house price movements and user inputs (e.g. number of bedrooms, property improvements, etc.).

Appraisers, investment professionals and lending institutions use AVM technology in their analysis of residential property. An AVM is a residential valuation report that can be obtained in a matter of milliseconds. It is a technology-driven report. The product of an automated valuation technology comes from the analysis of public record data and computer decision logic combined to provide a calculated estimate of a probable value of a residential property. An AVM uses a combination of two or more types of evaluation, - but most commonly, a hedonic model and a repeat transaction index. The result of each model is given a Confidence Score and then weighted by that score, analyzed and then reported as a final estimate of value based on a specified date.

An AVM typically includes:

An indicative market value (capital value or rental value) for a single residential property.Information on the subject property and recent history of like properties.Comparable sales analysis of like properties.Current like properties being actively marketed.

In the late 1990s, in the US, this technology was used primarily by institutional investors to determine risk when purchasing collateralized mortgage loans. AVMs gained traction in the UK in the early 2000's with the emergence of UKValuation and Hometrack.

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