Housing Wire

FEBRUARY 8, 2022

Loans for second homes, investment properties, cash-out refinances, construction loans, multi-unit properties, renovation loans, condos, co-ops or manufactured homes are not eligible. Any loan application flagged as ineligible by Fannie Mae’s automated underwriting system will have to use a traditional appraisal. “If

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Appraisal Buzz

JULY 15, 2024

This sounds great, but remember, the scope of work continues through the appraisal process. If the appraiser decides additional elements are necessary, it could create fields and other sections that need to be revisited. Another approach might be to guide the appraiser through an interview-style methodology.

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Appraisal Buzz

SEPTEMBER 5, 2022

Communication took on many forms, including development of written documents stating client reporting requirements, utilizing technology platforms to increase transparency throughout the appraisal process, and developing feedback to the appraiser on appraisal submissions. Complexity in Process and Properties.

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Birmingham Appraisal

MARCH 26, 2024

They wanted to know if it was okay to use a new construction sale as a comp for an older home. Appraisal Process To answer this it’s important to understand the appraisal process. When we appraise a house, we’re figuring out how much it’s worth.

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Boston Appraisal

DECEMBER 11, 2023

If you are buying or selling a property, or refinancing your home, you may encounter a real estate appraiser who will appraise your property based on its condition, features, location, and market trends and provide an appraisal valuation. The appraisal process is important for homeowners, buyers and sellers.

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Birmingham Appraisal

MARCH 26, 2024

They wanted to know if it was okay to use new construction sales in an appraisal of an older home. Appraisal Process To answer this it’s important to understand the appraisal process. When we appraise a house, we’re figuring out how much it’s worth.

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Appraisal Partners Blog

JANUARY 20, 2025

But what exactly is a residential appraisal, why is it necessary, and what factors influence the final valuation? This article will break down the complexities of the appraisal process, providing you with the essential knowledge to navigate this critical aspect of real estate transactions with confidence.

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Chicagoland Appraisal Blog

AUGUST 1, 2023

It provides an overview of the appraisal’s purpose, important findings and the opinion of value. The letter may also specify any limitations or assumptions made during the appraisal process. Subject Section This section identifies the physical address of the property being appraised.

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Cleveland Appraisal Blog

OCTOBER 29, 2021

To make this determination, the appraiser must first determine the Highest and Best Use of the land. They all have done their studies and have provided their analysis of what their data reflects the total economic life of a home to be based upon its quality of construction. These are just a few.

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Appraiserblogs

OCTOBER 4, 2022

The possible exception to this are highly dense urban developments where the new construction homes are cookie cutters, and the builder sells. Many of you are aware that the GSE’s are in the process of evaluating the entire appraisal process, including the…. Related Posts: What's Happening With the New Forms?

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DataMaster

JANUARY 15, 2021

Not only did the historically low interest rates contribute to the rise in home prices, but new home construction didn’t keep up. New Home Construction. As the home construction market begins to pick up speed, the influx of new homes will gradually ease the housing shortage. million units.

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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! Appraisers make adjustments based on this information.”

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Birmingham Appraisal

NOVEMBER 8, 2022

Because so many people have asked me, “What does a real estate appraisal include?” Appraisal Process. The appraisal process consists of the appraiser visiting the property to collect information to help them complete the report.

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Cleveland Appraisal Blog

SEPTEMBER 2, 2022

I also had good data for the construction cost (replacement cost). And the property being appraised had not been built yet. If a lender pushes back, my advice to appraisers is to not cave to the pressure of the lender. I had very few even remotely comparable sales to choose from for comparison. None were great.

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Simonson Real Estate

SEPTEMBER 16, 2021

New construction or planned renovations – Actual construction cost statements, plans, material specifications, etc. What is a Standard Turn-around Time for a Commercial Appraisal? Providing an in-depth and accurate appraisal report can take many hours to complete. Navigating the Appraisal Process – What You Need to Know.

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McKissock

DECEMBER 10, 2021

Plus, what will it take to modernize the appraisal process? Read on for this week’s appraisal news and insights. ” Read the full forecast to learn about Redfin’s predictions regarding mortgage rates, supply and demand, new construction, home price growth, and more. Petersburg-Clearwater, Florida.

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Birmingham Appraisal

SEPTEMBER 21, 2022

You may have heard of an appraisal inspection but what is a final inspection? Keep reading to find out the “second part” of the appraisal process for certain types of appraisals. For many types of appraisals, there is only one inspection or observation as we like to call it.

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DW Slater Company

FEBRUARY 24, 2022

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 appraisal process. Ineligible Transactions.

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Cleveland Appraisal Blog

MARCH 4, 2021

We also develop the effective ages of comparable sales to derive a range of effective ages, which can help to further support our estimate of the effective age of the property we are appraising. When we do adjust for physical age, there are several ways of supporting this type of adjustment.

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McKissock

JULY 20, 2021

The root of many misconceptions about the appraisal inspection is the word “inspection” itself. Nevertheless, an appraiser is expected to have more knowledge about construction and systems in a dwelling than a layperson would. Relatively few appraisers take courses on inspection skills or construction.

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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. Cost of construction and materials.

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Appraisal Today

DECEMBER 6, 2024

Mortgage Rates: The Drama Continues Appraisers, take note: With buyers hesitant to lock in loans at these rates, the volume of purchase-related appraisals may remain subdued for now. That said, be prepared for a potential rise in refinance appraisals as rates inch downward. Existing Home Sales: A Flicker of Life 3.

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Birmingham Appraisal

SEPTEMBER 15, 2022

As you can see, there are major differences between home appraisals and home inspections and both are very important. There are numerous steps in the appraisal process and it’s important to know each step involved. Steps in the Appraisal Process. in addition to taking pictures. Conclusion.

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Appraisal Hub

FEBRUARY 15, 2024

These appraisals are more complex, considering factors such as revenue generation, operating costs, tenant contracts, and market position. Physical Inspection: A thorough inspection of the property to assess its condition, quality of construction, and any features that may affect its value.

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The Robert Weiler Company

MAY 14, 2021

The following guide walks readers through all the definitional terms involved in the estate planning and real estate appraisal process (also referred to as an appraisal for estate planning purposes) and how best to prepare when, eventually, we will all boldly leave this Earth. Information Necessary To Perform the DOD Appraisal.

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East Coast Appraisal

OCTOBER 18, 2021

Thus, the cost of a house depends on both the construction and land cost. The appraisal will consider the market value of the land. This determines the use of and ease of construction on the land. Construction Cost. Construction cost considers how much you would need to build the exact house. Construction Cost.

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McKissock

MARCH 22, 2022

Special energy-saving items must be recognized in the appraisal process and noted on the appraisal report form. For example, when completing the appraisal report (Form 1004), special energy-efficient items are to be addressed in the Improvements section in the Additional features field. .”

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Chicagoland Appraisal Blog

MAY 13, 2021

Some appraisers work separately and have their own private businesses while others may work for a bank or an appraisal firm that employs many appraisers. . What Is the Home Appraisal Process? To begin the process of having your home appraised, you’ll need to select an appraiser and schedule their inspection.

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Appraisal Today

APRIL 12, 2024

Desktop appraisals okay for some Fannie Loans March 2022 Fannie Wants Desktop Appraisals Appraisal Business Tips Humor for Appraisers Click here to subscribe to our FREE weekly appraiser email newsletter and get the latest appraisal news!! baths, 14,450 sq.ft., Thanks to Tom for writing this blog post.

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D Fritz Appraisals

OCTOBER 11, 2022

Financial institutes or mortgage lenders will require an appraisal to ensure the home is worth the amount of money being requested in the loan or mortgage. Home appraisals are not just for when someone is buying or selling a home for themselves however, they are also important for: New construction loans. Estate settlements.

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Birmingham Appraisal

MARCH 21, 2023

A Look at How Market Trends are used in the Real Estate Appraisal Process The real estate market is constantly changing, and market trends play a crucial role in helping an appraiser determine property values. If you have any questions about the appraisal process feel free to contact me and as always thanks for reading.

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D Fritz Appraisals

OCTOBER 22, 2019

Fritz Appraisals is one of Victoria’s longest standing appraisal firms, with more than 40 years of experience in all aspects of the real estate industry in Victoria, BC. Likewise, use things like online reviews to help you decide on which company will be best at meeting your home appraisal needs. Word of Mouth Recommendations.

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Clear Capital

AUGUST 30, 2021

Through ClearLabs, Clear Capital launched a nationwide Modern Appraisal solution that leverages mobile technology and non-appraisers in the property data collection process, as well as OwnerInsight , a free, consumer-friendly mobile tool that enables safe social distancing in the appraisal process. Media Contact.

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Realtor

MARCH 7, 2023

While there is a lot of flexibility in the type of home that may be accepted for a USDA home loan—including condos , townhouses , and new construction —not all homes will qualify. The USDA home loan appraisal process To prove that a home meets the USDA’s criteria, all homes financed by USDA loans must undergo an appraisal.

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Clear Capital

MARCH 4, 2022

The mortgage industry is on its way to modernizing the appraisal process. In early February, Fannie Mae and Freddie Mac, the government-sponsored entities (GSEs), incorporated desktop appraisals into their Selling Guides beginning in March 2022. What are some of the benefits of desktop appraisals?

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McKissock

OCTOBER 23, 2020

Others will simply rely on a previous appraisal and call the appraiser to testify about it. Here are twelve types of expert witness assignments for appraisers. Deficiency judgment action could also create a need for an appraiser to testify. Construction faults. Appraiser negligence. Condemnation.

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McKissock

FEBRUARY 25, 2022

Approach to the appraisal process. Appraisal specializations. ” Related reading: 20 Ideas to Get Your Name Out There as an Appraiser. “I have a background in construction and have been a business owner in the construction industry.” ” “Became an appraiser at age 58.

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