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Appraisals 101: What to Expect From the Home AppraisalProcess Wondering what to expect from your home appraisal? Now it's time for the home appraisal. Typically it is one of the last steps in the home-buying process. How Long Does an Appraisal Take? The appraisalprocess doesn't take long.
For the past six months, I’ve been blogging with the purpose of assisting loan officers to better understand the appraisalprocess. So far, we’ve covered final inspections, lending on unique homes, communication with the appraiser, reconsiderations of value, bracketing and FHA appraisals.
In this blog post, we’ll discuss the various methods for choosing comparable sales, just the way an appraiser does. The post AppraisalBlog The Realtor’s Guide to Appraisals, Part 3 How Appraisers Choose Comps appeared first on Riverfront Appraisals.
Misunderstandings about the appraisalprocess are plentiful, and some of those really do affect the way you do business. The post AppraisalBlog The Realtor’s Guide to Appraisals Part 7: Common Myths About Appraisals appeared first on Riverfront Appraisals.
Previously, we asked our real estate appraisal community, “What’s your favorite part of the appraisalprocess ?” This time, we asked appraisers, “What part of the appraisalprocess do you find the most challenging? What part of the appraisalprocess do you find the most challenging?
With that being said, the last piece of the quality puzzle starts at the... Related Posts: FHFA to Screw Up Appraisals The FHFA is looking for comments on how they can better screw up the appraisalprocess.
Their Equitable Housing Finance Plan for 2022-2024 outlines a range of pilot programs that remove barriers blacks face when buying or renting, and keeping homeowners and renters at home: Valuation Modernization aims to support an equitable appraisalprocess for Black households and communities of color Expand Appraiser.
Brush Up On Your Appraisal Knowledge Most people have a basic understanding of the appraisalprocess. If you’ve ever purchased a home or refinanced your mortgage you’ve most likely had to get your home appraised. This commitment to objectivity is important to the appraisalprocess.
Tips To Ensure a Successful Appraisal When it comes to the home appraisalprocess, providing complete and accurate information is critical for a successful appraisal. Real estate agents and loan officers play an important role in ensuring appraisers have the necessary data to deliver reliable valuations.
We’ve been exploring several frequently asked questions in this blog series, and most come to me from Realtors, lenders, or homeowners. This question is a tricky one, in that it usually comes from Realtors who don’t want their question to be made public.
This blog is dedicated to the countless homeowners who, as we’re finishing up with the appraisal inspection, ask “well, is there anything I can do to increase the value of my home?” Realtors, you’ll also benefit from this post because I’m sure you get asked that all the time as well!
11 Helpful Tips For Choosing Comps Whenever I speak to agents about the real estate market and the appraisalprocess the one topic that the discussion always leads to is about choosing comps. The post My Top 11 Tips For Realtors When Choosing Comps appeared first on Birmingham AppraisalBlog.
Welcome to the November edition of our blog series, The Loan Officer’s Guide to Appraisals. If you’ve been following our blog, you know that all year, I’ve been writing with the purpose of assisting loan officers to better understand the appraisalprocess.
Highlights of the NAR Appraisal Survey The. Related Posts: AMCs Take a Sizable Cut of the Appraisal Fee It still proves my point: Appraisal Management Companies take a sizable Cut of the appraisal fee. The Federal Housing Finance Agency has released a working paper "Are Appraisal Management Companies Value-Adding?
Appraisal Tips For Real Estate Agents As a real estate appraiser with over 30 years of experience, I have seen many changes and challenges in the appraisal profession and the real estate market. I believe that appraisers and agents have a common goal: to help their clients buy or sell a home.
Understanding Confidentiality in Real Estate Appraisal The confidentiality of an appraisal report is a cornerstone of professional appraisal practice. According to the USPAP, appraisers are required to uphold confidentiality to protect the interests of their clients and maintain the integrity of the appraisalprocess.
Foster: With COVID-19, the government-sponsored enterprises (GSEs) enacted temporary allowances for flexibilities in appraisals and inspections. In some cases, this meant that interior inspections and appraisals relied on pictures and details from the homeowner or realtors involved in the sale rather than direct viewing.
AppraisalProcess To answer this it’s important to understand the appraisalprocess. When we appraise a house, we’re figuring out how much it’s worth. appeared first on Birmingham AppraisalBlog. What is bracketing and why should Realtors do it?
Real estate agents, as trusted guides for their clients, must possess a good understanding of the factors that influence property appraisals. In this blog post, I’ll discuss key appraisal factors, and common challenges, and offer valuable insights for real estate agents to navigate the appraisalprocess effectively.
AppraisalProcess To answer this it’s important to understand the appraisalprocess. When we appraise a house, we’re figuring out how much it’s worth. The post Can New Construction Sales be Used in an Appraisal of an Older Home? appeared first on Birmingham AppraisalBlog.
If you’re unsure about the difference between each, we have a helpful blog post on home inspections vs. home appraisals. Copies of any previous appraisals – this can help the appraiser see how the value has changed over the years. List of improvements made in the last 15 years, with costs and completion dates.
As technology has evolved we have much greater access to data and appraisers are learning to adapt and use this technology. Many believe that the use of different data gathering tools and sources will help modernize the appraisalprocess. I also foresee additional time with the tool where the appraiser guides the homeowner.
Navigating Complex Properties: In cases of unique or complex properties, agents and appraisers collaborate to ensure accurate valuations. If you have any additional comments about how appraisers and agents can work better together please leave a comment below and as always thanks for reading.
Benefits of Sharing the CMA with the Appraiser During the appraisalprocess, the appraiser will conduct their own market research to locate the most recent and similar comparables to the property they are appraising. I discussed this process in a previous blog post which you can read HERE.
If you’re new to our blog, let me first say ‘Welcome!’ This blog is part four of a 12-part series we’re calling The Loan Officer’s Guide to Appraisals. The post The Loan Officer’s Guide to Appraisals Part 4: Tips for a Successful Reconsideration of Value appeared first on Riverfront Appraisals.
We made it to the end of a year-long series called the Loan Officer’s Guide to Appraisals! If you’ve read each post, or listened to each accompanying podcast over at The Appraisal Cast, thank you! If you’ve just come upon this blog for the first time, thank you as well for […].
How Agents Can Use The Law of Diminishing Return When Pricing a Listing As a real estate appraiser with over 30 years of experience, I have witnessed firsthand the critical role that accurate pricing plays in the success of real estate transactions. Related posts: What is bracketing and why should Realtors do it?
Right now on our AppraisalBlog, we’re all about helping Loan Officers. This post is part six of a 12-part series we’re calling The Loan Officer’s Guide to Appraisals. We’re halfway there!
This post is part two of a 12-part series we recently launched called The Loan Officer’s Guide to Appraisals. In case you missed part one, go back and read all about the Final Inspection process here. In this blog post, we’re going to give you an appraiser’s perspective on unique homes, and […].
Right now on our AppraisalBlog, we’re all about helping Loan Officers. This post is part five of a 12-part series we’re calling The Loan Officer’s Guide to Appraisals. So far in our series, we’ve looked at final inspections, lending on unique homes, communication with the appraiser, and reconsiderations of value.
On the other hand, the value that is reflected in most appraisals is a value that reflects what the majority of other market participants are willing to pay. In this blog post, I’ll dive deep into what outlier sales are, why they should not be used in pricing other properties, and the potential consequences of relying on them.
A couple of days ago I was sitting down to start writing a blog post on how to streamline the initial appraisalprocess, specifically gathering information on the subject property prior to doing the inspection. And since it’s fairly often that a property is on a lock-box, you may not even meet the Realtor.
A couple of days ago I was sitting down to start writing a blog post on how to streamline the initial appraisalprocess, specifically gathering information on the subject property prior to doing the inspection. And since it’s fairly often that a property is on a lock-box, you may not even meet the Realtor.
But first, it’s important to understand what is a land appraisal, how it is appraised, the real estate appraisalprocess, and what to expect. What is a Land Appraisal? Land appraisal is a process of assessing the land value and then developing an opinion of value.
As always, if you have any questions about what I am discussing here or about the appraisalprocess in general feel free to contact me. Mistakes Real Estate Agents Need to Steer Clear Of 1) Not providing an information packet to the appraiser – An information packet is the easiest thing to share with the appraiser.
I was like this is what I prefer to be doing because when you do work on the private side, you’re able to communicate more with the end-customer, oftentimes a homeowner versus on the mortgage side, due to the bureaucracy of the appraisalprocess, you can only communicate with them to a certain degree.
Appraisal Business Tips Humor for Appraisers Click here to subscribe to our FREE weekly appraiser email newsletter and get the latest appraisal news!! We spoke to leadership at NAR and RPR® and, within 24 hours, had a solution to provision temporary RPR® access to the appraiser,” Sprague says.
In a July 9, 2015, Concept Paper – Alternate Track to the Experience Requirements in the Real Property Appraiser Qualification Criteria, the AQB asked: “Are there practical alternatives for some (or all) of the appraisal experience requirements to include non-appraisal experience?”. They provide CMAs, etc., Clear communication.
If agents utilize the same methods appraisers use in their appraisals there should not be a vast difference between the two values and the likelihood of a deal falling through will be minimized. I’ve listed below the top search criteria I look at when searching for comps during the appraisalprocess.
Appraisal Business Tips Humor for Appraisers Click here to subscribe to our FREE weekly appraiser email newsletter and get the latest appraisal news!! Appraisers must, therefore, frame their response within the matrix of avoiding any of any and all types of biases, not merely racial biases. baths, 5,550 sq.ft.,
As technology has evolved we have much greater access to data and appraisers are learning to adapt and use this technology. Many believe that the use of different data gathering tools and sources will help modernize the appraisalprocess. I also foresee additional time with the tool where the appraiser guides the homeowner.
The appraisalprocess is an essential part of real estate transactions. The appraisal value can make or break the deal, whether buying or selling a property. But what happens when the appraised value comes in lower than expected? This is where rebuttal appraisal comes in. Contact us at AmeriMac today!
What Appraisers Wish Real Estate Agents Understood McKissock Survey Question: “What’s one thing you wish real estate agents knew about the appraisalprocess? To read more of this long blog post with many topics, click Read More Below!! Read on blog www.appraisaltoday.com/blog Posted by noon Friday.
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