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Supporting Market Conditions Adjustments: A Comprehensive Guide for Appraisers

Appraisal Buzz

To effectively support market condition adjustments in line with recent Fannie Mae guidelines, appraisers can use a variety of market analysis techniques. These methods provide a solid foundation for demonstrating how changing market conditions affect property values over time.

Appraisal 358
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The state of the homebuilding market

Housing Wire

This article is part of our 2022 – 2023 Housing Market Update series. After the series wraps, join us on February 6 for the HW+ Virtual 2023 Housing Market Update. With continued supply chain disruption, cost increases and fear of inflation , the market has felt tenuous at best. Homebuilding Contract Values.

Marketing 493
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Do Appraisal Gap Clauses Impact Appraisals?

Cleveland Appraisal Blog

An appraisal gap clause can be written into a contract. It states that the buyer will still purchase the home at the contract price, even if the appraised value is lower than the contract price by a certain amount. In this hot market, it’s not surprising that this type of clause is being written into some contracts.

Appraisal 402
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How are appraisers handling concessions?

Sacramento Appraisal Blog

Could a seller credit damage the chance of appraising at the purchase contract? These questions weren’t asked a year ago, but welcome to the 2023 housing market. UPCOMING (PUBLIC) SPEAKING GIGS: 1/18/23 WCR Market Update in Cameron Park (register here) 1/19/23 Big market update at SAR on […].

Appraisal 411
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FHFA analysis finds racial disparity in appraisers’ use of time adjustments

Housing Wire

Fannie Mae, Freddie Mac, and FHA appraisal guidelines require such adjustments whenever market conditions change. In addition, market information about comparable sales data can be sparse, outdated or costly. According to the FHFA blog post, home purchases can be complicated by an appraisal below the buyer’s contract price offer.

Appraisal 487
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The Housing Market Has Become Like the Pymatuning Spillway

Cleveland Appraisal Blog

This fish phenomenon reminds me of the housing market today. As soon as homes hit the market, they often sell in days, with numerous offers that usually bid the list price up. People who are willing to spend tens of thousands more than the market will really support, seem to be speculating that things will continue as they are.

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Buyers have a bit more power in today’s housing market

Sacramento Appraisal Blog

The truth is the market is still ultra-competitive, but there is a slightly better chance buyers can get into contract these days and maybe not pay as much above the asking price (maybe). Are buyers finally gaining more power?

Buyers 459