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Kirchmeyer Outlines How AVM Technology is Changing the Appraisal Industry at the American Guild of Appraisers 4th Annual Conference
BUFFALO, N.Y. - Oct. 20, 2004 - Automated, real-time property valuations are changing the landscape of the appraisal industry, according to James A. Kirchmeyer, president of Real Info, Inc., a national real estate valuation company. Kirchmeyer's remarks were part of his presentation as a featured speaker and panelist at the American Guild of Appraisers (AGA) 4th Annual Eastern Regional Conference, held on Oct. 14 in Atlantic City.
Kirchmeyer outlined the benefits of automated valuation models (AVMs), which provide an electronically generated valuation of residential properties. He explained how AVMs could be integrated into the appraisal process as part of the "total valuation solution" appraisers could offer. He emphasized that as the industry integrates access to public records and cascading AVM technology into their lending strategy, borrowers benefit from faster loan decisions and lower fees.
"The fact is there are many different valuation tools. Anything from the tax assessment value to a traditional written appraisal report can become the tool to accurately predict the market value," said Kirchmeyer. "The real problem facing lenders today is determining what tool to use and when to use it."
The AGA is an international union of 240,000 professional appraisers. Over 300 members attended the conference, which serves as an educational forum to discuss industry trends. Henry Harrison, editor of Real Estate Valuation Magazine, was the keynote speaker for the event.
Real Info, Inc., headquartered in Buffalo, N.Y., provides automated property valuations to home equity lenders, credit unions, and real estate professionals. The automated valuation model (AVM) services allow clients to streamline the appraisal process with cost-effective, accurate, and time-saving solutions. Real Info uses its proprietary Internet delivery technology to provide searchable real estate data on over 85 million parcels across the United States through its realAccess(tm) subscription service. Real Info is a partner company of Kirchmeyer & Associates, a full-service, traditional appraisal company.
For more information, visit www.real-info.com or call (716) 558-2800.
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