Have you read the Fitch decision? It paves the way for the demise of the appraiser in the real estate transaction in favor of AVMs. All the bank will need do is verify AVM data and/or fill in any critical data it may lack & to make sure the house is really there. Appraisers will be replaced by AVM fact-checkers.

The bank will charge consumers (at a nice markup) for the AVM they buy cheap. Perhaps you need to visit some appraiser forums to appreciate the decimation in that profession.

Fitch decision here:
http://tinyurl.com/m2ros

PS The analogy of a computer doing an open house was in jest–get it?

I’ve addressed your question earlier on the post discussing Zillow’s SEO strategy. Staying on topic here: do you understand my comment or do you really think that appraisers don’t leave their desks to do their job?

then will zillow remove “home appraisal” from it’s meta tags?

a = probability of success in launching a national MLS
b = $ to be made in doing so

c = probability of success in having a nationwide real-estate-related advertising site
d = $ to be made in doing so

ab > cd

I just have to call B/S on this post. To extend the analogy; have you ever seen a computer visit a house, measure its square footage or even drive by a property? Me either! To suggest that Zillow is competitive to appraisals is clearly incorrect. Don’t make me start quoting from our help pages …

In fact, the contrary is actually true; I often hear from homeowners whose Zestimate was a gental reminder to GET an appraisal — usually it is for the purpose of considering re-financing a mortgage.

Lar -

Very poetic.