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.

Appraisal 86

Appraisal Contracts Real Estate Mortgage 86

Appraisal Today

AUGUST 23, 2024

The new book explores all aspects of homeownership, value, and economics and details all the appraisal process steps. Each chapter includes examples illustrating common scenarios encountered in appraisal practice and presents definitions of key terms to help the reader understand the important concepts presented. percent from 6.54

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Appraisal Contracts Investors Property Appraisal 75

Appraisal Today

APRIL 12, 2024

Master-planned communities will typically have hundreds of homes, several different options for recreation, and even retail/commercial businesses located within minutes of the residences,” adds Tiffany Sears, a broker and agent with The Sears Group in Charlotte, NC. The average contract interest rate for 5/1 ARMs increased to 6.41

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Appraisal Construction Contracts Architecture 86

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. The average contract interest rate for 15-year fixed-rate mortgages decreased to 6.62

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Appraisal Training Inspection Real Estate 94

Appraisal Today

AUGUST 2, 2024

The report cited from CSS, analyzed appraisal data across 10 states in the East Coast and Midwest, finding that only around 40% of home sales included an appraisal that was within $2,500 of the final sale price. The appraisal report is shared with the lender, who is the client in this scenario. percent from 7.09 percent from 6.71

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Appraisal Valuation Law Contracts 82

Appraisal Today

JANUARY 19, 2024

Appraisers must, therefore, frame their response within the matrix of avoiding any of any and all types of biases, not merely racial biases. In addition, real estate appraisals must rid itself of the language and any practices that suggest bias in the appraisal process. percent from 6.81 percent from 6.98 percent from 6.56

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Appraisal Contracts Real Estate Architecture 81

Appraisal Today

OCTOBER 11, 2024

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. However, appraisers follow established industry practices, and these are monitored by the state agencies that license appraisers. When might we expect a decision on those?

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Appraisal Insurance Contracts Valuation 83

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. The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA decreased to 6.57

Appraisal 89

Appraisal Agents Real Estate Real Estate Agent 89

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 average contract interest rate for 5/1 ARMs increased to 6.47

Insurance 88

Insurance Appraisal Contracts Mortgage 88

Appraisal Today

JUNE 21, 2024

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. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) decreased to 7.02

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Appraisal Architecture Contracts Design 78

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 Inspection Modernization Business 77

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

Tools 71

Tools Appraisal Renovations Design 71

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

HOA 72

HOA Appraisal Real Estate Contracts 72

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.

Appraisal 82

Appraisal Business Contracts Real Estate 82

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? The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) increased to 6.39 percent from 6.18

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Real Estate Agent Real Estate Appraisal Agents 52

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

Appraisal Today

SEPTEMBER 23, 2022

House Bill 7735 “Improving Access to the VA Home Loan Act of 2022” Excerpts: “The bill will encourage important reforms to the agency’s requirements regarding when an appraisal is necessary, how appraisals are conducted, and who is eligible to conduct an appraisal. To read the House bill, click here.

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Appraisal Marketing Business Appraisal Process 52

Appraisal Today

DECEMBER 23, 2022

My comments: George continues on his long-time quest to really modernize residential appraisals, not just designing another type of online report or speeding up the appraisal process with AVMs and desktops. Appraisals are ordered after the loan application. The average contract interest rate for 5/1 ARMs decreased to 5.43

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Appraisal Contracts Mortgage Modernization 52

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?

Real Estate 60

Real Estate Appraisal Property Appraisal Valuation 60

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 64

Appraisal Today

APRIL 7, 2023

Communicating quickly with the lender is an issue with the appraisal process. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) decreased to 6.40 The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA remained unchanged at 6.33

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Appraisal Property Taxes Reconsideration of Value Contracts 52

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? percent from 6.95 percent from 6.96

Appraisal 52

Appraisal Contracts Real Estate Mortgage 52

Appraisal Today

SEPTEMBER 9, 2022

However, this author is optimistic that process changes from each of the root causes for revisions have had some level of contribution to the decline. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) increased to 5.94 percent from 5.80 percent from 5.32 percent from 5.57

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Reconsideration of Value Appraisal Clients Contracts 52

Appraisal Today

JANUARY 5, 2024

Streamline my appraisal process (10%) Plus 3 more To read more, Click Here My comments: Interesting stats! Elimination of Bias and Developing Cultural Competency – with Real World Relevance Required for California Appraisers Fulfills BREA’s new appraiser CE requirement for elimination of bias and cultural competency.

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Appraisal Contracts Business Legal 84

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 Contracts Real Estate Agent Real Estate 83

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 Training Contracts Mortgage 89

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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Appraisal Marketing Contracts Construction 85

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 Contracts Business Reconsideration of Value 61

Appraisal Today

NOVEMBER 29, 2024

The recent expansion of appraisal waiver eligibility likely does not sit well with those poised to take on leadership roles in the next Trump administration, as it underscores creep from the GSEs missions. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) decreased to 6.86

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Appraisal Business Contracts Real Estate 85

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

Appraisal 52

Appraisal Contracts Construction Valuation 52

Appraisal Today

NOVEMBER 16, 2024

The recent expansion of appraisal waiver eligibility likely does not sit well with those poised to take on leadership roles in the next Trump administration, as it underscores creep from the GSEs missions. Gen Ai is an excellent tool that can augment the appraisal process when it is navigated responsibly by the user.

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Appraisal Valuation Contracts Mortgage 87