Remove Appraisal Process Remove Market Value Remove Valuation
article thumbnail

Fannie Mae: Appraisals are no longer the default option

Housing Wire

Fannie Mae updated its Selling Guide on Wednesday to include more options for property valuations, saying that they are “moving away from implying that an appraisal is a default requirement.” Those options include value acceptance (formerly appraisal waivers), value acceptance plus property data and hybrid appraisals. “We

Appraisal 482
article thumbnail

Navigating the Appraisal Process – What You Need to Know

Simonson Real Estate

While commercial appraisals are a central part of evaluating real estate, the appraisal process itself can be frustrating and confusing – primarily since each assessment depends on the scope and nature of the specific property. Value Scenarios. What is Market Value As Is and When is it Used?

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

The Importance of Correlation Matrices in Residential Real Estate Appraisals: Five Key Reasons for Use

Appraisal Buzz

This wide variety of data sources typically includes the relevant MLS, County records, other appraisers, reputable real estate brokers, and so forth. Understanding how these variables relate to one another, as well as to the subject, is critical for the appraisal process.

article thumbnail

Appraisers raise alarm on AMC revenue-sharing models

Housing Wire

These organizations were intended to function as a mortgage industry firewall in the aftermath of the 2008 financial crisis, acting as middlemen between lenders and appraisers and overseeing the logistics of property appraisal processes. AMCs have a tendency to select appraisers who are willing to work for relatively low fees.

Appraisal 362
article thumbnail

Unwrapping what to expect in your home inspection, appraisal and closing

Housing Wire

An appraisal is a valuation of a property by a third party. The buyer typically covers the cost of the appraisal. A qualified appraiser will compare recent sales of similar local properties, market trends and conduct a visual inspection of the home’s interior and exterior to determine the property’s fair market value.

article thumbnail

Opinion: The pros and cons of VA modernization bill

Housing Wire

When it comes to offering an opinion of ‘good or bad’ on HR 7735 — the VA modernization bill — and its ultimate ability to create a better appraisal process for veteran and active duty borrowers, it’s simply too early to tell with too little information being shared on exactly what changes we should expect. A fundamental change.

article thumbnail

FHFA’s RFI on appraisals is a critical inflection point

Housing Wire

Navigating appraisal challenges in today’s housing market. HousingWire recently spoke with PCV Murcor Founder, President and CEO Keith Murray, and COO Cindy Nasser on how the appraisal process can be streamlined in today’s tight housing market. Presented by: PCV Murcor.

Appraisal 313