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LaMancha Sims's profile image
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LaMancha Sims
  • Lender
  • from Atlanta, GA
  • Member since May 3, 2019

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LaMancha Sims
  • Lender
  • from Atlanta, GA
  • Member since May 3, 2019
LaMancha Sims
  • Lender
  • Atlanta, GA
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Mortgage Brokers & Lenders

Are Appraisals a Thing of the Past

LaMancha Sims
  • Lender
  • Atlanta, GA
Posted

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? 

  • LaMancha Sims
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Alex Bekeza
#3 Real Estate Deal Analysis & Advice Contributor
  • Lender
  • Los Angeles, CA
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Alex Bekeza
#3 Real Estate Deal Analysis & Advice Contributor
  • Lender
  • Los Angeles, CA
Replied

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.

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