Corelogic Takes The Zillow Approach

Appraiserville – FTC and Corelogic characterize the appraisal industry not as it actually is.

Apparently, we learned that big data can tell you what the best color of paint is for maximum value of your bathroom – even if you believe that, it cannot tell you that the house was occupied by 200 cats.

I was taken aback by the self-serving press release from Corelogic that basically said appraisals are questionable and automated valuations are better. That makes sense coming from a data firm with their own AVMs. The article lists a series of data that question the credibility of comp selection and adjustments with the “…these patterns aren’t sufficient to make conclusions at the loan level; more research is needed. However, he says, “They do reveal aspects of underlying inconsistency in the appraisal development, for which more sophisticated data analytics techniques are likely better suited…” Read more »

Jonathan Miller

Jonathan Miller

President & CEO at Miller Samuel Inc.
Jonathan Miller is President and CEO of Miller Samuel Inc., a real estate appraisal and consulting firm he co-founded in 1986. He is a state-certified real estate appraiser in New York and Connecticut, performing court testimony as an expert witness in various local, state and federal courts.
Jonathan Miller
Jonathan Miller

Jonathan Miller

Jonathan Miller is President and CEO of Miller Samuel Inc., a real estate appraisal and consulting firm he co-founded in 1986. He is a state-certified real estate appraiser in New York and Connecticut, performing court testimony as an expert witness in various local, state and federal courts.

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