2021 Contracts Reconsideration of Value 
Cleveland Appraisal Blog
MARCH 30, 2021
Within the past couple of weeks, I have appraised several properties for purchases, where my opinion of the market value of these homes was significantly below the contract price. When an appraiser’s opinion of value is below the contract price, that’s when the carping begins. But they didn’t.
Appraisal Today
MAY 10, 2024
ROV (Reconsideration of Value) Changes – FHA and GSEs GSE Effective date is August 29, 2024 HUD Effective date is September 2, 2024 Editor’s note: This long section includes, In order: McKissock/Dave Bradley post with a good summary including links to HUD and GSE documents. George Dell – his usual very interesting comments.
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Appraiserblogs
DECEMBER 21, 2021
White Paper: Requests for Reconsiderations The paper states that…. Reconsideration of Value Requests Open invitation for spurious reconsideration requests. ANSI Measuring Standard Required in 2022 On December 15, 2021, Fannie Mae announced that it will be adopting ANSI Measuring Standard in 2022. No thank you.
Appraisal Today
AUGUST 9, 2024
That year, according to CSS data, 42% of homes were appraised above the sale price compared with 42% in 2021, 46% in 2022 and 50% in 2023. Among the 10 states analyzed, Kentucky had the highest percentage of orders (73%) that appraised over the sale price for the first half of 2024 with an average over-appraised value of 10%.
Appraisal Today
APRIL 5, 2024
More significantly, loanDepot.com agreed to an extensive revamping of: (a) its reconsideration of value practices; (b) fair housing/non-discrimination training requirements; (c) statistical tracking of appraisal outcomes; and (d) training and contractual requirements for AMCs and appraisers. from its series’ peak in March 2021.
Appraisal Today
FEBRUARY 23, 2024
I find myself scouring 2021 onward especially. The truth is there are portions of 2021 and 2022 where prices are exactly the same as today too, so if I use an older comp, I don’t always need to adjust for the way the market has changed. This will save time, especially when consumers request a Reconsideration of Value.
Appraisal Today
MAY 24, 2024
Built in 2008, the luxury estate last traded hands in 2021 for $6,250,000. Finally, the vendor’s use of the photos is limited by contract, with stiff penalties for violation. I’m always looking for something new = ROV, Part 2 By George Dell, SRA, MAI, ASA, CRE Excerpts: ROV (Reconsideration of Value) is now in the boat.
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