Remove Article Remove Construction Remove Reconsideration of Value
article thumbnail

How to Respond to a Reconsideration of Value Request

McKissock

To help you out, we’ve put together some practical information to strengthen your responses to a mortgage lender’s appraisal appeal, called a reconsideration of value (ROV). Be respectful and constructive in your response. Meet deadlines, if attainable. Often, an ROV has a deadline for responding to it. Ask questions.

article thumbnail

The Housing Market Has Become Like the Pymatuning Spillway

Cleveland Appraisal Blog

According to the park manager Pete Houghton, who was mentioned in an article, “Where the Ducks Walk on the Fish” , this attraction draws over 300,000 visitors a year. When an appraiser’s opinion of value is below the contract price, that’s when the carping begins. (Warning – This video is a little loud.

Insiders

Sign Up for our Newsletter

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

article thumbnail

2022 Appraisal Outlook: Appraisers Cast Optimistic Eye On Coming Year

McKissock

The unprecedented buyer demand of 2021 will likely be suppressed to some extent due to affordability concerns in some markets, and more housing inventory will most likely be available from both the existing homes and new construction segments.”. The top ones are reconsideration of values, and growing prevalence of desktop appraisals.

article thumbnail

FREE Webinar: Update on Current VA Appraisal Topics

McKissock

James and Jeff will cover current VA appraisal topics including desktop appraisals, reconsiderations of value, and the ways that the VA is monitoring appraisal quality. Don’t miss this FREE update on VA appraisal topics on Wednesday, February 22nd from 11am-12pm ET. Sign up now.

article thumbnail

Freddie Mac Appraisal Advice

Appraisal Today

If you do residential lender appraisals, read this article. For typical assignments, I see more errors in 2-4 appraisals than I do in any other kind of property type, including vacant residential land (proposed construction requiring an as is and prospective value are not “typical” in my book of definitions).

article thumbnail

Why Appraisal Workfiles Are Important

Appraisal Today

To read more, Click Here My comments: The article also discusses bias. In my free newsletter, I typically don’t include links to very adverse blog posts and articles. Regional Variability: The disparities in home sales and construction activity across different regions underscore the importance of localized market knowledge.

article thumbnail

FREE Webinar: Update on Current VA Appraisal Topics

McKissock

James and Jeff will cover current VA appraisal topics including desktop appraisals, reconsiderations of value, and the ways that the VA is monitoring appraisal quality. Invest in your professional development with one-hour, non-credit webinars presented by experts. View Pro-Series webinars.