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This article was originally published in the Fall 2021 Appraisal Buzz Magazine here. Our profession has been abuzz the last year or two with regards to the GSEs being mandated to modernize the appraisal profession. Why are appraisers essentially being excluded from the conversation about modernizing the profession? Technology.
This article is featured in the 2024 edition of the Appraisal Buzz Magazine. Read all these articles and more in the latest edition HERE. Lets support the next generation of appraisers by stepping up as mentors or supervisors. The residential appraisal profession is at a transformational moment.
Here it is: another article about appraisal modernization. The FHFA RFI responses to appraisal modernization are a treasure trove of insight into ideas and options for modernization from a wide variety of respondents. The changes will impact just about everything and everyone in the collateral valuation space.
The second appraiser could also have been incompetent, resulting in an over valuation of the couple’s property. The property valuation industry has a system for dealing with situations where a home’s appraised value is in dispute; it’s called the review process. Let’s unpack this situation…. But, what else played a role? Perception.
The shortage of appraisers within the industry has been well publicized recently and no doubt plenty of you reading this article have experienced the impact of this shortage first hand. With the acquisition, Class Valuation is looking to deliver a completely digitized appraisal process. Closing Thoughts.
This article is featured in the 2024 edition of the Appraisal Buzz Magazine. Read all these articles and more in the latest edition HERE. In this article, Ill tell you why. Some other features in our magazine include funny Buzztoon comics, industry trends, as well as crazy stories from appraisers and readers like you!
As industries grapple with the challenges of transparency, accuracy, and trustworthiness in valuation processes, blockchain emerges as a beacon of hope. This article delves deep into how blockchain is set to revolutionize appraisals, offering a fresh perspective to technology professionals keen on staying ahead of the curve.
This week’s HW+ member spotlight features John Brenan, vice president of Valuation Policy and chief appraiser at Clear Capital. At Clear Capital, Brenan oversees the quality of the company’s appraisal and valuation products and implements changes to continually evolve the program. .
This article is featured in the 2024 edition of the Appraisal Buzz Magazine. Read all these articles and more in the latest edition HERE. The SCA grid includes units of comparison that are imposed upon the analyst. Multivariable regression (MVR) is another valuation model that gets a lot of attention.
This article is featured in the 2024 edition of the Appraisal Buzz Magazine. Read all these articles and more in the latest edition HERE. Applying each of these tests properly is essential to the valuation process. Order doesnt matter for the first two tests, but its essential for the last two.
This article was first published in the Fall 2021 Edition of Appraisal Buzz Magazine. Appraisers use three different property valuation methods: (1) Sales Comparison relates the estimated value of our subject property to similar settled, active, and pending market sales. (2) To receive this subscription directly, click here.
Both of these issues accelerate the importance of appraisal modernization. What is appraisal modernization? Your HW+ Membership includes: Unlimited access to HW+ articles and analysis. There are two significant issues in our industry right now — appraisal bias and origination volume. This content is exclusively for HW+ members.
If you find yourself in this situation, this article will provide you with a guide that may be helpful to you. I hope you enjoy her article! Flooring updates and modern landscaping can upgrade the home’s aesthetics, increasing its overall value. Many homeowners have decided not to sell their homes but to renovate them instead.
Visit Tidio Property valuation and market analysis AI-supported property valuation and market analysis tools give real estate agents a decisive edge in quickly and accurately determining property values and understanding market trends. Here are some of our favorite AI tools for real estate property valuation and market analysis: 11.
Our cover article is an incredibly insightful conversation on racial bias in the appraisal industry. We have articles to help appraisers, AMCs, and lenders grow in every aspect of their business. Make sure you take a look at our schedule for Valuation Expo – we’ve included a code for $100 off of any Valuation Expo Pass!
In this article, we delve into the historical context of underwriting policies and their influence on the appraisal. Related Posts: Is the GSE's "Appraisal Modernization" Really Just… Mass Appraisal tend to exhibit a regressive nature. appeared on Appraisers Blogs.
This article is featured in the 2024 edition of the Appraisal Buzz Magazine. Read all these articles and more in the latest edition HERE. The good news for valuation professionals is they have lots of experience spotting data points that don’t jibe with what they know. Another way to say this is that they have common sense.
SEO capabilities are solid, and the platform is mainly known for its sleek and modern design options. The platform now boasts a wide variety of website templates and features to satisfy agents at any level of their career.
Worse, because we are not yet leveraging the power of big data in our industry, for reasons we will discuss in this article, most of the technology deployed on the front end is not being well adopted and utilized and its effects on the back-office have been negligible. Collateral Valuation. Here are two concrete examples: 1.
Real Estate valuation can be a complex exercise in problem solving. While that number may seem high to some, in the context of lending and property complexities, that is a 54% improvement in performance cited earlier in this article. Appraisal Modernization. Appraisal modernization is at the forefront of discussions today.
This article defends the need for a time adjustment (when the market supports one). This monograph assumes the 2024 ed. of USPAP (bibliograph citation by reference). The Appraisal Institute published Time Adjustment Research Contains Multiple Flaws on December 13, 2024 (see here by reference). 2025 Timothy C.
This is a continuation of the April 15, 2024 article “ From Forms to Reports: A Look at the UAD Overhaul ” I am named after my father, who passed away in 2000. That’s how I first got involved in valuation technology. We know we are part of the valuation future as envisioned by the GSEs.
This is the final article in Ernie Durbin’s three-part series on the new UAD. The first article on April 15, 2024, was “ From Forms to Reports: A Look at the UAD Overhaul. ” The second article on July 15, 2024, was “ The New UAD: Don’t Borrow Trouble. How will lenders order appraisals without standard form numbers?
The kitchen is also one of the areas that is commonly in need of modernization, from outdated appliances to antiquated cabinet styles. That being said, we look at certain items on our inspections that play into the final valuation depending on the home.”.
I think you’re going to enjoy her article. I have more articles I am working on for future posts. In the meantime, enjoy Penny’s great article! I’ll be back in two weeks with a new blog that is more focused on real estate valuation. Here are some links to other articles I’ve enjoyed recently!
In the article, “How accurate is Punxsutawney Phil?”, According to an article in ctpost.com , “Most of the year, male and female groundhogs are solitary and antagonistic against each other. So, why offer a valuation service that provides values that should not be relied upon? I know it’s just for fun. .
From digital data collection to sophisticated analytical software, technology is reshaping how appraisals are conducted, impacting both the speed and accuracy of valuations. Its important to understand how technology is impacting the industry, and to see how its creating a more efficient and accurate valuation process.
On March 23, 2022, the Interagency Task Force on Property Appraisal and Valuation Equity (PAVE) released a report entitled “Action Plan to Advance Property Appraisal and Valuation Equity.” Pages 5 and 6 of the report set forth 21 recommendations, termed “Agency Actions to Advance Valuation Equity.” Stay tuned.
This article is featured in the 2023 edition of the Appraisal Buzz Magazine. Read all these articles and more in the latest edition HERE. Some other features we have in our magazine include funny Buzztoon comics, as well as crazy stories from appraisers and readers like you!
The NAA is made up of fantastic appraisers from across the country who are working hard to keep their fellow appraisers up to date on what’s happening. Click here to visit their website.
Along with its full array of real estate agent tools (IDX websites, property valuation tool and more), RealGeeks truly are the “real” ones helping you optimize your real estate workflows. Its focus on automation, efficiency, and ROI tracking makes it a powerful tool for modern real estate agents.
This article explores different strategic integrations of AI while showcasing customized AI agents that can streamline operations and help appraisers gain a competitive edge. But are you truly ready to harness this transformative power, or will you be left behind as the industry evolves?
In this article, East Coast Appraisal Service uncovers the key factors influencing estate appraisal values in Westchester County. Market trends and economic conditions can greatly influence property valuations and estate appraisal services. Why Location Matters Location is crucial in determining real estate value.
Perhaps the title of this article makes you think of the comic series from the 1942-1949 named the “ Crack Detective “ Well, probably not. I have shared it at the end of this article. I’m working on a new article that will be out in a couple of weeks. . Modernized Bias – and Opinion? STRUCTURAL.
In a recent discussion within the comments section of an article titled ‘The Censorship of Appraisers,’ appraiser Spencer Paul shared a concerning statement from an underwriter about an adjustment made by Fannie Mae’s Collateral Underwriter tool. Related Posts: The One-Mile Rule: Prudent Policy or Modern Day Redlining?
In this article What is circle prospecting? It makes me nuts when I see a real estate agent offering “free home valuation” as if that is something special. Using technology Modern circle prospecting often involves the use of technology. The home valuation offer “Hello, I’m [Your Name] with [Real Estate Company].
Appraisal Modernization- Many in the industry are trying to move the appraisal industry to modernize with the use of technology and data gathering services. Many believe that the use of different data gathering tools and sources will help modernize the appraisal process. Why would the GSEs want this product?
Most important and relevant to appraisers was the first topic, titled “Valuationmodernization,” which is an update to the Selling Guide that allows more options for valuation, including alternatives to traditional appraisals. For example, it is widely expected that the U.S. Foreclosure numbers are trending upward.
Plus, what will it take to modernize the appraisal process? The article notes that big cities, like New York and Los Angeles, may lag smaller ones, like Boise and Salt Lake City, in 2022. Opinion: The path to modernizing the appraisal process. Realtor.com forecasts a mixed bag of opportunities for homebuyers in the coming year.
Most important and relevant to appraisers was the first topic, titled “Valuationmodernization,” which is an update to the Selling Guide that allows more options for valuation, including alternatives to traditional appraisals. For example, it is widely expected that the U.S. Foreclosure numbers are trending upward.
Industry Insider Insight on Risk and Modernization. Bill Rayburn gave a rousing and lively explanation of exactly what quality means in valuation at a recent meeting. Fannie New Appraisal Form Modernization. I f this article helped you understand Estate/Trust appraisals, it is worth the subscription price!
Mixed-use developments, which integrate residential, commercial, and sometimes industrial components within a single project, represent a modern approach to urban planning. Challenges in Appraising Mixed-Use Developments Complex Valuation Models : Mixed-use properties require appraisers to be adept in multiple valuation methods.
So, while the cabinets may be in good shape, many homeowners will eventually replace the countertops, sink and appliances with a more modern look and improved functionality. Here are some links to other articles I’ve enjoyed recently! Of course, a ten-year old kitchen is going to have some wear and tear from use.
Fannie Mae only accepts the sales comparison approach as its primary valuation tool. To read more, Click Here My comments: When I saw the article topic I thought it would be boring. This article explains when and why. Valuation Profession Fact Sheet Effective 08/01/2023 Men 67.9% Race/Ethnic White 77%% Hispanic/Latina 5.5%
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