Automated Valuation Models

Traditional fee appraisers have welcomed the computer technology of databases, spreadsheets, and word processing. Even further, they have welcomed appraisal software which has reduced the clerical element of writing appraisal reports. However, the basic methods they follow in estimating value have not changed much in some time. In contrast, over the same period, assessors have quietly yet radically changed their valuation technology through application of computer aided mass assessment (CAMA) techniques. These techniques have improved the accuracy of mass appraisals while reducing their cost. As the price of computer power and automated data collection spirals downwards, could the application of CAMA techniques supplant traditional appraisal in other settings?1

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