Property Valuation
What is an 'automated valuation model' (AVM) in Delaware?
AA computer program that automatically lists properties on the MLS
BA software program that uses public records, comparable sales, and algorithms to estimate property value✓ Correct
CA system for automatically scheduling appraisals
DAn automated tool for calculating mortgage payments
Explanation
An AVM (like Zillow's Zestimate) is a computer model that estimates property value using algorithms applied to public records, recent sales, and market data. AVMs are often used for preliminary valuations but are not substitutes for formal appraisals.
Related Delaware Property Valuation Questions
- What is an 'as stabilized' value in Delaware commercial real estate appraisal?
- What is a 'subject property' in a Delaware appraisal?
- Gross rent multiplier (GRM) is calculated as:
- The income capitalization approach to value is most appropriate for:
- Paired sales analysis is used in appraisal to:
- In an appraisal, what does reconciliation mean?
- Functional obsolescence in an appraisal refers to:
- The cost approach to value is most reliable when:
Practice More Delaware Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Delaware Quiz →