Appraisal Buzz

DECEMBER 9, 2024

The goal is to make sure every adjustment is defensible, based on empirical evidence, and can withstand scrutiny from all stakeholders involved in the appraisal process. This is shorthand that every experienced appraiser knows and understands please dont @ me. Brents graphics are seen in Figure 8.

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McKissock

JANUARY 31, 2023

As part of our Question of the Month survey series, we asked members of our appraisal community, “What’s one thing you wish real estate agents knew about the appraisal process?” Thank you to the large number of appraisers who shared their input! ” “To answer the phone when an appraiser calls.”

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Real Estate Agent Real Estate Agents Appraisal 97

McKissock

JULY 27, 2021

Many survey respondents emphasized the importance of making sure your work is as detailed and well-supported as possible—by means of careful comparable selection and analysis, thorough documentation, and clear explanation of why the available comps do not support the contract price. How to respond to appraisal complaints and requests.

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The Robert Weiler Company

SEPTEMBER 16, 2021

And how does the real estate appraisal process work? The following article delves into the “science” of residential and commercial real estate appraisal and discusses the steps to succeed. Residential vs. Commercial Property Appraisal and Their Differing Review Process. o Federal Housing Authority (FHA).

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Genworth MI Blog

AUGUST 31, 2022

Similarly, buyers began waiving inspection contract contingencies, which give the buyer options for negotiating remedies or price with the seller if the inspection reveals major issues. If you can’t account for condition and location in your appraisal, then you won’t have a credible one.

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Appraisal Today

FEBRUARY 16, 2024

Historical Properties and Their Unique Appraisal Approaches Excerpts: Appraising historical properties involves a complex interplay of factors, making it a specialized field within real estate valuation. The appraisal should not be used for any other purpose.” Much better than AMC lender residential appraisals!”

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Birmingham Appraisal

SEPTEMBER 15, 2022

You can read more about property inspection waivers in a past article I wrote. Appraisal vs Home Inspection. As a new homeowner, you might be confused about the differences between an appraisal and a home inspection. There are numerous steps in the appraisal process and it’s important to know each step involved.

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Appraisal Today

JANUARY 19, 2024

In addition, real estate appraisals must rid itself of the language and any practices that suggest bias in the appraisal process. For the sake of simplicity, this article touches on merely three such biases: anchoring bias, selection bias, and confirmation bias. Good, understandable appraiser examples. I was wrong.

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Appraisal Today

AUGUST 2, 2024

The appraisal will also require fully supported adjustments, explanations on how you determined the adjustments, and the ADUs impact on value measured by the cost, income and sales comparison approaches. To read more, Click Here My comments: Read this detailed article if you appraise any properties with ADUs.

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Appraisal Today

SEPTEMBER 20, 2024

What’s the Difference Between Sale Price and Appraised Value?… … If a property is under contract for purchase at $450,000 and an appraiser provides a market value appraisal of $425,000 for the property, the $450,000 sale price is a fact, while the $425,000 appraised value is the appraiser’s opinion.

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Housing Wire

DECEMBER 7, 2023

You’ll want to choose a program that gives you flexibility to fit your schedule and timeline for getting licensed in MA, while preparing you to pass the state exam on your first try, and successfully launch your new career. Let’s review our findings! out of 5 stars Rating: 5 out of 5.

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McKissock

OCTOBER 15, 2021

The official 2022-2023 Online Update Course for Uniform Standards of Professional Appraisal Practice (USPAP), now available online , comes with a first-of-its-kind reference manual designed to help you quickly find answers to your USPAP-related questions.

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McKissock

JULY 28, 2022

Then Ken moved on to work vendor contracts for JP Morgan Chase, where he also oversaw the startup of a QA department to validate vendor quality and internal audits. At Union Bank, Ken oversaw appraisal operations and was tasked with improving visibility around appraiser quality and the customer experience. .

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Appraisal Today

SEPTEMBER 22, 2023

NAR Member Survey on Data Collectors Excerpts: In May 2023, NAR surveyed its members pertaining to data collectors in the appraisal process. Brokers followed with 24%, and appraisal-certified professionals comprised 14% of the respondents. Only appraisers do the appraisals. There were some fee appraisers.

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Appraisal Today

SEPTEMBER 29, 2023

How to Identify a Single-Family with ADU vs. Two-Family Property By McKissock Excerpts: The presence of an additional living unit can complicate the appraisal process. It may make it difficult for you, the appraiser, to know how to classify the subject property. The recent fires in Hawaii dramatically illustrate this problem.

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Appraisal Today

OCTOBER 6, 2023

As this property data collector thing moves along, there continues to be no legitimate reason for Fannie Mae’s motivation to push this so hard other than they want the valuation process fully automated and can pay $25 for an untrained inspector to view a home. It shows a fundamental lack of understanding of what appraisers do.

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Appraisal Today

SEPTEMBER 23, 2022

My comments: This article uses AEI data, graphs, and reports from June. The upcoming October issue of the monthly Appraisal Today has an article, “Which are your best current and former AMC/lender clients? To read more about this topic, plus 2+ years of previous issues, subscribe to the paid Appraisal Today.

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McKissock

JANUARY 8, 2021

The VA has a unique set of protocols, known as the Tidewater Initiative, that a VA appraiser must follow when he or she expects the appraised value of a property is going to be lower than its contract price. This program, often known simply as “Tidewater,” initiated in—you guessed it—the Tidewater area of Virginia (i.e.,

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Appraisal Reconsideration of Value Contracts Appraisal Process 59

Walitt Solutions

MAY 24, 2020

” Let’s take a look at this issue in a bit more depth, starting with the definitions of “client” and “intended user” from the 2020-2021 edition of the Uniform Standards of Professional Appraisal Practice (USPAP): CLIENT : the party or parties (i.e., What difference does it make? For additional information.

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Appraisal Today

MARCH 15, 2024

To read more and see the photos, Click Here My comment: I included some of these homes in previous email newsletters, but thought this article fit well with daylight savings time so I am including it in my blog. It is presented as part of the GSEs “Appraisal Modernization” initiative, which aims to streamline the mortgage appraisal process.

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Appraisal Today

DECEMBER 2, 2022

Counseling buyers, sellers, owners, and tenants on inspections and remediations, improvements, and the appraisal process. Completing Evaluations in compliance with the Interagency Appraisal and Evaluation Guidelines. I have been writing these annual articles for many years. Clear communication. percent from 0.6

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Appraisal Today

JUNE 21, 2024

Business is slow now, which is a good time to try appraising unusual homes. It tells us more about the trend one month ago when the property got into contract. This is where we want to give strong respect to other similar units that are getting into contract. Very good lists of the factors. Where is the market at right now?

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McKissock

JANUARY 8, 2021

The VA has a unique set of protocols, known as the Tidewater Initiative, that a VA appraiser must follow when he or she expects the appraised value of a property is going to be lower than its contract price. This program, often known simply as “Tidewater,” initiated in—you guessed it—the Tidewater area of Virginia (i.e.,

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Appraisal Reconsideration of Value Contracts Appraisal Process 52

Appraisal Today

APRIL 7, 2023

Communicating quickly with the lender is an issue with the appraisal process. Very good tips in the article. I don’t see much written about appraisers and emails. To read more, click here My comments: Excellent article with good graphics. The average contract interest rate for 5/1 ARMs decreased to 5.61

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Appraisal Property Taxes Reconsideration of Value Contracts 52

Appraisal Today

APRIL 12, 2024

The best article I have read on MPCs. Senators Cramer, Tester Introduce Bipartisan Legislation to Improve Home Appraisal Process in Rural Areas Excerpts: “Across rural America, housing markets have a shortage of trained appraisers,” said Cramer. The average contract interest rate for 5/1 ARMs increased to 6.41

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Appraisal Today

JANUARY 20, 2023

Fee Appraisers will be gone in 5 years being relegated to measuring houses, property inspection, and basic condition reporting. The puppet masters don’t like appraisers or the appraisal process, and the AVM’s will take over and Fannie, Freddie, et al, will do to whatever lobbyists and politicians tell them to do.

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Appraisal Contracts Sellers Business 52

Aedis Appraisals

JUNE 13, 2017

After all, if you fail to procure an accurate appraisal, there isn’t much to stand between you and potential losses during the sale or purchase of a particular property. What Is an Appraisal and When Do I Need One? How Does the Process Work?

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Property Appraisal Appraisal Inspection Real Estate 36

Appraisal Today

JUNE 28, 2024

Kiedrowski, MNAA Reforming the appraisal review process is essential to maintaining the integrity of the real estate market and protecting consumers and homeowners Excerpts: In mortgage financing, the appraisal process is often seen as the foundation of accurate property valuation and market stability. percent from 6.94

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Valuation Appraisal Real Estate Real Estate Agent 58

Appraisal Today

MAY 17, 2024

Geographic “Data” Competency refers to an appraiser’s ability to effectively understand, interpret, and utilize geographic data in the appraisal process. In the context of real estate appraisers, it is essential for accurately valuing properties and providing credible appraisal reports. percent from 7.18

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Tools Appraisal Renovations Design 64

Appraisal Today

JULY 5, 2024

The First Leg: What Can A Residential Appraiser Offer a Prospective Supervisor? The residential appraiser already has the knowledge and practical application of the fundamental appraisal process and practical experience valuing real property. The average contract interest rate for 5/1 ARMs increased to 6.38

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HOA Appraisal Real Estate Contracts 66

Appraisal Today

FEBRUARY 17, 2023

What Appraisers Wish Real Estate Agents Understood McKissock Survey Question: “What’s one thing you wish real estate agents knew about the appraisal process? To read more, click here My comments: This article applies the scientific method to making appraisal adjustments. percent from 6.18 percent from 5.96

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Real Estate Agent Real Estate Appraisal Agents 52

Appraisal Today

DECEMBER 23, 2022

Subscribe to the monthly Appraisal Today Newsletter. Lots of details for Residential Non-Lender appraisals! To read more, plus 2+ years of previous issues, subscribe to the paid Appraisal Today. If this article helped you understand non-lender appraisals and get one more appraisal, it is worth the subscription price!

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The People's Appraisal Blog

JANUARY 30, 2019

They were installed as the “Middle Man” between appraisers and lenders to help insure Appraiser independence and manage the appraisal ordering process. Once again borrowers paid for appraisals to the Lender and the AMC failed to make those payments to appraisers. Notice how Agents is in Bold?

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The Robert Weiler Company

OCTOBER 21, 2022

The process can be daunting, especially if you’ve never engaged in an appraisal for commercial real estate before. To simplify and demystify the commercial appraisal process for you, we have addressed 17 of the most important questions asked. For the purpose of this article, we’ll mostly stick to the word “appraisal.”.

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Real Estate Appraisal Property Appraisal Valuation 60

AmeriMac

JULY 25, 2022

This is why home appraisals are advised to ensure property costing is as fair as possible. This article discusses what an appraisal requires, why it needs to be reviewed and the methods involved in arriving at both conclusions. What Is an Appraisal? Why Is Appraisal Review Important?

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Housing Wire

NOVEMBER 4, 2021

Freddie Mac recently produced a novel analysis of appraisal reports — the first public research of their data — which found that appraisals in minority neighborhoods are more likely to fall short of the contracted sales price. Fannie Mae has said it too is working on an analysis of its appraisal report data.

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Housing Wire

OCTOBER 2, 2024

Ultimately, every homebuyer prospect, every contract and every negotiation is unique, but the value you provide should be consistent for all situations and clients. Guide your buyer through escrow Once you’ve won the offer, help your clients through the contingencies, inspections, appraisal process, and final walk-through.

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