Automated valuation systems like those from Zillow or Cyberhomes are very objective. They take data and render an non emotional decision. Most people can understand that home owners certainly have a tough time doing the same but what about bankers? Bankers are supposed to be cold, unemotional calculating machines, and , for the most part they are – except when it comes to their money.
Check out the valuation of this foreclosed home compared to what the bank has set as the minimum bid.
Minimum bid not based on reality
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