Automated valuation model (AVM): an analytical process that produces real estate valuation estimates. An AVM combines sales history, comparable real estate data, any available proprietary appraisal information and certain economic factors to determine market conditions and their impact on home values. Appraisers and lending institutions use AVMs to calculate probable selling value of residential real estate. A valuation estimate produced by an AVM is not the same as an appraisal report prepared by a licensed professional appraiser.
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