Are Appraisals a Thing of the Past

[LaMancha Sims]

If AI can pull comps in 10 seconds. Why are appraisals still taking 2-3 weeks and $600+? Are Appraisals Being Done by Humans Soon to Be a Thing of the Past? 

[Alex Bekeza]

AVMs are cool for certain things (HELOC or fix and flip) but as a BRRRR investor I would HATE to have an AI based valuation after doing a full rehab for my DSCR loans. The AVMs never fully capture recent major value add details. That being said, I think AI already does a large part of these reports so it would be great to see the costs come down a bit and turn times pick up.