Mary Cummins, Real Estate Appraiser, Animal Advocates, Los Angeles, California - Pages

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Friday, November 15, 2024

AVMs Are Not Accurate in Los Angeles County Because Not All Building Square Footage is Public by Mary Cummins Real Estate Appraiser


I was in a webinar last week with Jeff Prang the Los Angeles Property Assessor. https://mary--cummins.blogspot.com/2024/11/assessor-jeff-prang-speaks-at-appraisal.html I'm so happy that someone asked the following question. 

7. Why aren't guest houses, pool houses in the assessor records?

Jeff Prang: "They are but they're not public or online. You have to go to the office to see them. You can look at the pictometry view in the assessor site to see the outline of buildings. We have records for patios, balconies, guest houses, pool houses."

My comment: In my experience they generally only show the first building on a property. Generally second units or homes that are added later are  not in the records. I do see them sometimes by MLS sources that include size of all buildings on the site but not always. This is so important especially for 2-4 units, two homes on a lot or SFR with ADU/guest house. Many have assumed the buildings weren't permitted or legal for this reason. This means AVMs are extremely inaccurate for these properties with one building in front and say extra units, ADU, guest house in rear. You may only see 1/3 or 1/4 of the true size. An AVM would assume that only the front home exists and value it based on that size alone. 

This is of course just one reason why AVMs are inaccurate. I've written a couple of articles about the problems with AVMs in this blog. Main issue is they don't know condition, whether it exists or not, true size, number legal permitted beds/baths, upgrades, amenities, lot type, specific location in a neighborhood, view... These factors can make an AVM vary from true market value by 100%. I've seen Zillow AVM values when the property burned down years ago. I've also seen Zillow values for an old home which was demolished and replaced with a new larger home or units. Public records don't get updated until a while after new construction and Certificate of Occupancy permit. Building and Safety has to send the permits to the county assessor who then adds it to the database. 

Mary Cummins of Cummins Real Estate is a certified residential licensed appraiser in Los Angeles, California. Mary Cummins is licensed by the California Bureau of Real Estate appraisers and has over 35 years of experience.


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