Birmingham Appraisal

NOVEMBER 20, 2024

Blogging provides me a creative outlet to help educate the public on the appraisal process. If you had told me in 2010 that I would still be writing my appraisal blog 14 years later I would have said you were crazy, but here I am. In a sales transaction, there is one additional piece of data and that is the contract price.

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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

Enact’s David Foster recently spoke with MortgageOrb about how the COVID-19 pandemic impacted inspections and appraisals, the changes we see today, and other appraisal factors to consider. Q: How have inspections and appraisals been impacted since the beginning of the COVID-19 pandemic?

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DataMaster

JANUARY 15, 2021

It’s clear that the lockdowns and fear over contracting the virus were the impetus for the lower mortgage rates. Without a sea change from the government and the construction industry itself, inventory will remain below needed levels. However, work will stay robust and schedules will stay full for appraisers.

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Housing Wire

NOVEMBER 30, 2021

Regardless of the size or complexity of a system or process, it is time to look at whether the impact it has on people is equitable. And the appraisal process is no exception. of the properties in Black neighborhoods receive appraisal values lower than the contract price versus 7.4% All people.

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Padove Appraisal Service

JANUARY 11, 2019

A current program to eliminate use of appraisals in mortgage lending was introduced in 2016 by the Federal National Mortgage Association (FNMA, or commonly referred to as Fannie Mae). These government sponsored entities offer liquidity to the single family market by purchasing and guaranteeing mortgage loans that are made by private lenders.

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Appraisal Today

FEBRUARY 28, 2025

The Appraisal Process: Valuing a Hobbit Hole Like Bag End The valuation process of Bag End takes some extraordinary assumptions, if we are to appraise the home as a residential property. It’s typically governed by a set of standards or ethics and often involves a commitment to ongoing learning and development.

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Appraisal Today

SEPTEMBER 6, 2024

Purchase applications increased more than 3 percent over the week and are inching closer to last year’s levels, with government purchase applications leading the increase,” said Joel Kan, MBA’s Vice President and Deputy Chief Economist. The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA decreased to 6.30

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Appraisal Today

AUGUST 25, 2023

To read more and see the charts, click here My comments: Mckissock results are from their own survey of appraisers. I have seen this type information before, but mostly from contacting companies, recruiters or government databases. The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA increased to 7.09

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Appraisal Today

OCTOBER 11, 2024

By George Dell, MAI, SRA This UAD topic is intertwined with the new integrated URAR by our GSEs (Government Sponsored Enterprises) – as both the UAD and URAR will arrive on the scene together. Heaslet is a retired Marine Corps veteran and a second-generation appraiser who began his valuation career as a trainee at his father’s office in 2007.

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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 average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) increased to 6.87

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Appraisal Today

AUGUST 23, 2024

Government agencies may request reviews for regulatory purposes, tax purposes, or right-of-way acquisitions. The new book explores all aspects of homeownership, value, and economics and details all the appraisal process steps. Appraisers are required to adjust out atypical concessions in their valuations. percent from 6.54

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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 concrete foundations had been destroyed. percent from 11.0

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Appraisal Today

MARCH 15, 2024

It is presented as part of the GSEs “Appraisal Modernization” initiative, which aims to streamline the mortgage appraisal process. These modern labels are often heralded as a cure-all for the perceived inefficiencies and biases of traditional mortgage appraisal processes. percent from 7.02 percent from 7.21

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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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Appraisal Today

JUNE 28, 2024

The void in representation by the appraisal industry over the past decade on the AVM issue, to talk about those 200 feral cats living in the house being valued, has enabled AVMs to be legitimized by the federal government. The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA increased to 6.82

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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. Question 6: What is the overall commercial real estate appraisal process?

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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. I will compare this to the recent Government shutdown. Notice how Agents is in Bold? I’ll explain shortly. The outrage of how could this happen.

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PennyMac

JUNE 28, 2022

As such, you can only draw from a pre-approved amount that is stipulated in your contract. With HELOCs, in some instances, the government allows homeowners a tax deduction for interest payments. This is especially important to look for in a contract and consider as you’re trying to decide on a lender or on applying for a HELOC.

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Housing Wire

NOVEMBER 4, 2021

A liberal think-tank, regulators, the government-sponsored enterprises, the President of the United States, even fintech firms have all called attention to appraisal bias. Marcia Fudge with leading an inter-agency task force to root out bias in appraisals. But among them, one agency is taking the lead in spearheading the issue.

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Housing Wire

JANUARY 11, 2022

President Biden tasked the Department of Housing and Urban Development with leading an interagency task force — of which FHFA is a member — to make policy recommendations to combat bias in appraisals. But even as federal regulators tackle the problem, it is still unclear how bias typically manifests in the appraisal process.

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Appraisal Today

FEBRUARY 21, 2025

percent from one week earlier Zoning in the Appraisal Process Appraisal Business Tips Humor for Appraisers Click here to subscribe to our FREE weekly appraiser email newsletter and get the latest appraisal news! Should comp dates be based on contract or sale dates? I was far away from Washington D.C.,

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Housing Wire

JUNE 14, 2022

The Federal Housing Finance Agency released voluminous plans last week developed by Fannie Mae and Freddie Mac to make the housing market more equitable, in part through changes to the appraisal process. According to Freddie Mac’s equitable housing finance plan, it could be the expansion of automated valuation models.

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Appraisal Today

AUGUST 13, 2023

PAVE Response and Marcia Fudge by Dave Towne Excerpts: Folks, the American Enterprise Institute Housing Center has been, to date, the only major voice in the wilderness I’ve seen publicly defending appraisers and the appraisal process. That’s why lenders will always need experienced field appraisers. percent from 6.93

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Appraisal Today

NOVEMBER 22, 2024

The conversation focused on the limitations of Automated Valuation Models (AVMs) and emphasized the necessity of qualified appraisers in property valuation; specifically for all purchase transactions. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) increased to 6.90

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Appraisal Today

JANUARY 17, 2025

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. Depending on when the comparable sales occurred, adjustments can be positive, negative, or zero within the same appraisal report. percent from 6.99

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Clear Capital

JANUARY 5, 2023

government made bold steps to support homeownership through the GI Bill. Before that, the government addressed these issues through housing programs started under the New Deal. The task force also proposed a set of policy changes to advance racial equity in the appraisal process. Troubling research. points for Blacks.

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Appraisal Today

MARCH 28, 2025

CDEI, MNAA Excerpts: Typically, this time starts when the comparable goes under contract, then ends on the effective date of the appraisal. If the market has measurably changed over that period, that change means the appraiser should market-adjust the comps up- or downward, as the market demands. times 42-days or $5,523.

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Appraisal Today

MARCH 7, 2025

The firm is actively seeking input from individuals who believe they have been overcharged or misled about the allocation of their appraisal fees between the AMC and the appraiser. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) decreased to 6.88

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