Cleveland Appraisal Blog

SEPTEMBER 2, 2022

Have you ever read thru an appraisal report? The Sales Comparison approach, as the name implies, compares the property being appraised to other properties that a potential buyer might consider as a substitute for buying the property being appraised. When completing an appraisal, there may be four values.

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Appraisal Development Valuation Market Value 337

Appraisal Buzz

AUGUST 1, 2022

As a minimum basis, a real property appraisal report written for the government sponsored entities (GSEs) and agencies are what USPAP (Uniform Standards of Professional Appraisal Practice) refers to as Appraisal Reports. Standard 2 is the specific standard that addresses the reporting of appraisals.

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Valuation Contracts Appraisal Legal 360

Appraisal Buzz

OCTOBER 3, 2024

“, the paper estimates that the title insurance industry’s work to maintain accurate and reliable property records mitigates $600 to $900 billion in risk exposure to home buyers, lenders and other participants in real estate transactions. The post Risk Exposure in the Title Insurance Space appeared first on Appraisal Buzz.

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Insurance Real Estate Valuation Real Property 384

Cleveland Appraisal Blog

NOVEMBER 11, 2021

My appraiser compadre and fellow blogger Ryan Lundquist, at the Sacramento Appraisal Blog, wrote an excellent piece this week on the situation with Zillow. I regularly work for investors who hire me to appraise a home they are interested in buying. I appraised these four properties within the last month… PROPERTY 1.

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Valuation Market Value Appraisal Real Estate 364

Appraisal Buzz

JUNE 11, 2024

Department of Housing & Urban Development (HUD) and U.S. Additional initiatives that Freddie Mac noted included the financing of more than 46,000 manufactured homes titled as real property from 2018-2023, providing more than $6.7 The post GSEs Seek Input on Duty to Serve Plans appeared first on Appraisal Buzz.

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Finance Real Property Design Lending 390

Simonson Real Estate

JULY 10, 2020

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. What is an Appraisal ? Defining the Appraisal Scope of Work.

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Appraisal Process Appraisal Market Value Tenants 148

Appraisal Buzz

OCTOBER 5, 2021

The official 2022-2023 Online Update Course for Uniform Standards of Professional Appraisal Practice (USPAP) is now available online. This is the 12th year that McKissock Learning has been the exclusive provider of The Appraisal Foundation’s national online USPAP update course.

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Housing Wire

JULY 16, 2024

That leads to some challenges in the reverse mortgage space, because many of the properties that borrowers may seek out loans for are very different. Getting comparables or appraisals for these properties can be a challenge. Here, appraisers are adept at pulling out similar values, but it can be tough.

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DataMaster

JUNE 15, 2023

The purchase of real property for the purpose of investment is not new. Or, a home may be purchased for its income potential, with the purpose of renting the property to a tenant. What do short-term rentals mean for appraisers? Lenders and clients will be looking for an appraisal to secure a loan on the STR.

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Appraisal Tenants Investors Business 148

Cleveland Appraisal Blog

APRIL 21, 2022

Part of our work as appraisers is to consider whether situations like this are influencing the market value of the home we are appraising. Market value, therefore, considers the entire pool of potential buyers of homes that are similar to, and that compete with the property being appraised. CRAZY NEIGHBORS. Probably not.

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Market Value Appraisal Agents Real Estate Agent 350

The Robert Weiler Company

SEPTEMBER 30, 2020

Unlike a commercial real estate appraisal review, most of the answers from “Facebook experts” are not fact-based; the responses on your social media post will range from beliefs to convictions to opinions. Fortunately, we do not conduct commercial real estate appraisals on social media! Grant Applications.

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Real Estate Appraisal Valuation Property Appraisal 137

Appraisal Buzz

SEPTEMBER 26, 2024

FHFA has carefully reviewed the feedback from stakeholders in developing this re-proposal, which will better ensure the regulated entities’ safety and soundness so they continue to serve as a reliable and stable source of liquidity for the U.S. Thompson, director of the FHFA, in a statement. housing finance system.”

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Cleveland Appraisal Blog

JUNE 30, 2023

I welcome back guest blogger June Duncan who wrote this article for the Cleveland Appraisal Blog. Here are some tips to help you transition to a new city and begin a new chapter in your life, shared below by Cleveland Appraisal Blog. To ensure suitability, research neighborhoods, read reviews, and consult locals or real estate agents.

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McKissock

AUGUST 6, 2021

To become a licensed appraiser , most states require you to start out as an appraisal trainee and obtain a certain number of hours of experience before you can appraise real property on your own. Many states have different titles for trainees, such as apprentice appraiser or registered appraiser.

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Appraisal Real Property Property Appraisal Training 101

McKissock

MARCH 17, 2023

As an experienced appraiser, there are many reasons you may decide to take on a trainee. property inspections), or prepare for retirement. Whatever the reason, supervisors play an essential role in the training and development of future appraisers. In this post, we outline how to become a supervisory appraiser.

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McKissock

JANUARY 4, 2022

You know there are good reasons to upgrade your appraisal license —including making more money —but you might be unsure of how to go about it. Depending on your state and the license level you wish to attain, the exact steps for how to upgrade your appraisal license will vary slightly. Real estate appraiser qualification criteria.

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Appraisal Valuation Real Estate Agent Development 93

McKissock

DECEMBER 28, 2021

Appraisers recently contacted by McKissock tend to agree that the profession will go generally well in 2022, with no major changes to the real estate market and no events on the horizon that could seriously upset appraisers’ business. Desktop appraisals, with information provided by third-party hirelings, may increase.

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Eppraisal

FEBRUARY 7, 2023

Owning raw land has real potential along with its share of pitfalls. Whether you decide to hold it and sell when real property values climb or -- alternatively -- develop the lot to convey at a higher price, you are subject to forces of market, timing and competition.

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Development Sellers Legal Home Value 69

McKissock

AUGUST 21, 2020

In any real estate appraisal assignment, you must use one of the two written report options outlined in USPAP: Appraisal Report or Restricted Appraisal Report. A diligent appraiser can utilize the Restricted Appraisal Report option when it makes good sense for the assignment and client. Which is appropriate?

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McKissock

NOVEMBER 19, 2021

There are many opportunities for new real estate appraisers entering the profession today. The Bureau of Labor Statistics projects that job growth for appraisers between 2019–2029 will be 3%, which is on pace for all occupations. What’s it like to be an appraiser? Preparing written reports of the property value.

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Property Appraisal Appraisal Real Estate Real Property 82

McKissock

SEPTEMBER 14, 2021

There are an estimated 75,100 licensed appraisers in the U.S., People decide to launch a real estate appraisal career because they’re following in a family member’s footsteps or they’re intent on building a career in a field they love, as well as one that pays well and has a flexible schedule. according to the U.S.

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Real Estate Appraisal Inspection Real Property 92

Simonson Real Estate

SEPTEMBER 16, 2021

So, you are getting ready to request an appraisal on a potential commercial property deal but have a few questions before you decide on what appraisal company to use. We’ve compiled the top six most frequently asked questions about our industry and appraisal reports so that you can navigate the appraisal world with ease.

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Appraisal Appraisal Process Real Property Real Estate 78

McKissock

MAY 14, 2023

Report writing is an essential step in the appraisal process. Want a quick breakdown of everything that belongs in a narrative appraisal report? for mortgage financing purposes or tax assessment appeal purposes) Identification/brief description of the property appraised Real property interest appraised (e.g.,

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Appraisal Appraisal Process Property Appraisal Real Property 87

MN Real Estate Services

FEBRUARY 4, 2017

When Emotions Are Raw, and Trust Is Low, You Need a Real Estate Appraisal That Could Stand Up In Court If It Had To. Your client is going through divorce and there is real property involved. You contact Minnesota Real Estate Appraisal Services LLC in Minnesota and get them to do an Appraisal that both parties can trust.

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Real Estate Appraisal Real Property Valuation 78

Appraiserblogs

MARCH 8, 2021

The Appraisal Foundation has issued an exposure draft for Advisory Opinion (AO) 16. Advisory Opinion 16 is Fair Housing Laws: Avoiding Bias in Real Property Appraisal and Appraisal Review Development and Reporting. The Appraisal Foundation acknowledges “the Advisory Opinion was extensively rewritten”.

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Law Property Appraisal Appraisal Real Property 109

McKissock

DECEMBER 2, 2022

There are many reasons people choose to launch a career in real estate appraisal—including the potential to earn a high income, opportunity to work flexible hours, and low start-up costs compared to other small businesses, to name a few. Are you interested in starting an appraisal career? Take your classes online.

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Appraisal Training Real Property Design 85

DataMaster

JUNE 15, 2023

The purchase of real property for the purpose of investment is not new. Or, a home may be purchased for its income potential, with the purpose of renting the property to a tenant. What do short-term rentals mean for appraisers? Lenders and clients will be looking for an appraisal to secure a loan on the STR.

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Appraisal Tenants Investors Business 78

Walitt Solutions

MAY 24, 2024

Along with many of you, I am a member of multiple online appraiser discussion groups. One of those common scenarios goes like this: I completed an appraisal and transmitted the appraisal report to the client for a purchase appraisal. My market value conclusion came in below the purchase contract price.

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Contracts Appraisal Clients Market Value 74

Simonson Real Estate

DECEMBER 6, 2022

In 2022, Simonson Appraisals completed a steady stream of financing assignments with planned new construction or significant proposed renovations. Below are are several key points from my presentation titled Navigating the Appraisal Process that’s been presented several times to the U.S. Defining the Appraisal Scope of Work.

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DataMaster

MARCH 17, 2021

Real estate transactions should be bias-free. As most appraisers know, the Appraisal Foundation issued an exposure draft of a complete revision of Advisory Opinion 16 on March 1st. With two weeks to go until the deadline for comment submissions, we urge all appraisers to make their voice heard. Advisory Opinion 16.

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Appraisal Inspection Property Appraisal Law 141

Appraisal Today

JULY 12, 2024

Valuing Appraiser Professionalism: A Blueprint for Survival By Jo Traut, McKissock Learning Excerpts: Having spent nearly three decades in the field of real estate appraisal, I’ve witnessed firsthand the evolution of our profession, particularly with respect to technological advancements.

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Appraisal Today

SEPTEMBER 20, 2024

percent from one week earlier Appraised Value Vs. Sale Price Converted $500K Minnesota Bank With Historic Vaults and Bulletproof Glass How AI Tech is Reshaping Appraisal Success From Panic to Profit: One Appraiser’s Story of Survival and Growth Cindy Chance Terminated (Appraisal Institute CEO) Mortgage applications increased 14.2

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Empire Appraisal Group

JULY 1, 2021

5 Appraisal Topics Every Agent Should Know. Source: 5 Appraisal Topics Every Agent Should Know | Realtor Magazine. Appraisers are an integral part of the real estate sales process. Interacting With an Appraiser at a Property. Don’t tell the appraiser your client needs a certain value, for example.

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Empire Appraisal Group

JULY 28, 2022

ANSI Square Footage Standards: What Agents and Appraisers Should Know. Source: ANSI Square Footage Standards: What Agents and Appraisers Should Know | Realtor Magazine. Key takeaways: As of April 1, Fannie Mae began requiring the ANSI home measurement standard for appraisals of single-family homes. by Craig Morley.

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Appraisal Agents Valuation Realtors 78

McKissock

DECEMBER 31, 2021

Appraisal industry insiders tend to agree that 2022 will generally be a good year for appraisers. As real property appraisers look ahead to the new year, we wanted to know where they plan to focus their efforts and what they will strive to achieve. 4 Retirement Resources for Appraisers (Free for Members).

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Appraisal Design Property Appraisal Real Property 64

McKissock

AUGUST 13, 2021

Why must an appraiser be given a copy of the sales contract? First and foremost, Standards Rule 1-5 in the Uniform Standards of Professional Appraisal Practice (USPAP) states that we are to: “analyze all agreements of sale.” That’s the real reason why—because USPAP says so. When should we analyze the contract?

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Contracts Appraisal Market Value Real Estate 64

Boston Appraisal

JUNE 24, 2019

Property owners are often surprised when the time comes to estimate the fair market value of their green building. Many appraisers believe that these green features, although expensive, add little value to the property, while potential buyers find these features appealing and valuable.

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