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The goal is to make sure every adjustment is defensible, based on empirical evidence, and can withstand scrutiny from all stakeholders involved in the appraisalprocess. This information is crucial when appraisers need to determine whether a local market is appreciating, stabilizing, or depreciating.
Premier Home Appraisals is hosting an information-packed interactive training session for the Winchester/Shenandoah Valley market that brings the nuts and bolts of residential property appraisal right to your fingertips. Bracketing requirements and consideration. Updated versus remodeled… determining condition.
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.
How Agents Can Use The Law of Diminishing Return When Pricing a Listing As a realestateappraiser with over 30 years of experience, I have witnessed firsthand the critical role that accurate pricing plays in the success of realestate transactions.
So far in our series, we’ve looked at final inspections, lending on unique homes, communication with the appraiser, and reconsiderations of value. The post The Loan Officer’s Guide to Appraisals Part 5: What is bracketing and why do we do it? appeared first on Riverfront Appraisals. So if this is […].
Price like a RealEstateAppraiser! Are you a realestate professional or mortgage lender looking to learn more about the home appraisalprocess? Let our experienced certified Virginia appraisal experts be the premier source of home appraisal knowledge for your market. We can help!
11 Helpful Tips For Choosing Comps Whenever I speak to agents about the realestate market and the appraisalprocess the one topic that the discussion always leads to is about choosing comps. Using sales that are inferior, similar, and superior to the subject in some aspect constitutes bracketing.
Appraiser and Agent Collaboration is a Good Thing The importance of collaboration between realestate agents and appraisers can be a touchy subject. On one hand, the realestate agent’s main goal is to advocate for their client while the appraiser must be an impartial and non-biased third party.
This post is part six 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, reconsiderations of value and bracketing. […]. appeared first on Riverfront Appraisals.
A Different Market I think we can all agree that the realestate market we are currently in, as of the writing of this post, is not the same one we were in from 2020 to 2022. AppraisalProcess To answer this it’s important to understand the appraisalprocess. Is it a sale or is it a comparable?
Realestate professionals use a mix of data analysis, market knowledge, and professional judgment to determine a property’s value or list price. However, in the quest for accuracy and reliability, one common mistake that realestate professionals need to avoid is the undue influence of outlier sales in pricing strategies.
A Different Market I think we can all agree that the realestate market we are currently in, as of the writing of this post, is not the same one we were in from 2020 to 2022. AppraisalProcess To answer this it’s important to understand the appraisalprocess.
In addition to adopting best practices, Ken Folven, Senior Director, Appraisal Quality Assurance at Clear Capital, says appraisers play a critical role in maintaining public trust in the realestate lending and home-buying process. . Elevate the appraisalprocess with Clear Capital.
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.
As an appraisal quality leader and former field appraiser, I know firsthand that working in the realestateappraisal industry can be a wild ride. Due to emerging shifts in the mortgage loan market, there is a heightened sense of urgency to review the conventional loan appraisal guidelines. .
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