Instant House Appraisal.com, a company that provides online home valuations for consumers, on Tuesday reported it received a letter from the Arizona Board of Appraisal ordering the company to stop performing appraisals on Arizona properties until it can retain a licensed appraiser in the state.

The company responded by replacing the InstantHouseAppraisal.com Web site with a new name and URL, InstantHomeValuations.com.

“We regret using the word ‘appraisal’ in our name and causing the Arizona Board of Appraisal to be concerned that Instant House Appraisal.com is providing unlicensed appraisal services,” said Stephen Schramke, founder of Instant House Appraisal.com. “We were confident that our Web site provided a clear and adequate explanation of the distinctions between automated valuation model reports and professional licensed real estate appraisal services.”

Instant Home Valuations.com provides consumers with access to the same automated valuation technology and reports used by banks and mortgage companies to approve mortgages and home loans. Consumers and real estate professionals alike use the company’s self-service online home valuations.

Since the site’s launch in March of this year, Instant Home Valuations.com has provided more 40,000 reports to consumers and has 1,900 real estate agents and mortgage brokers registered as report sponsors, according to the company. The service is available in 42 states and more than 600 counties nationwide.

***

Send tips or a Letter to the Editor to jessica@inman.com or call (510) 658-9252, ext. 133.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Real estate news and analysis that gives you the inside track. Subscribe to Inman Select for 50% off.SUBSCRIBE NOW×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription