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.