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So far in our series, we’ve looked at final inspections, lending on unique homes, communication with the appraiser, and reconsiderations of value. The post The Loan Officer’s Guide to Appraisals Part 5: What is bracketing and why do we do it? So if this is […]. appeared first on Riverfront Appraisals.
Let our experienced certified Virginia appraisal experts be the premier source of home appraisal knowledge for your market. Premier Home Appraisals is hosting an information-packed interactive training session for the Winchester/Shenandoah Valley market that brings the nuts and bolts of residential property appraisal right to your fingertips.
So far, we’ve covered final inspections, lending on unique homes, communication with the appraiser, reconsiderations of value, bracketing and FHA appraisals. For the past six months, I’ve been blogging with the purpose of assisting loan officers to better understand the appraisal process. And, you’ll definitely […].
Let our experienced certified Virginia appraisal experts be the premier source of home appraisal knowledge for your market. All things appraisal property inspection. Bracketing requirements and consideration. Are you a real estate professional or mortgage lender looking to learn more about the home appraisal process?
So far in our series, we’ve looked at final inspections, lending on unique homes, communication with the appraiser, reconsiderations of value and bracketing. […]. This post is part six of a 12-part series we’re calling The Loan Officer’s Guide to Appraisals. We’re halfway there! appeared first on Riverfront Appraisals.
One tool the agent uses to price the property is the Comparative Market Analysis or CMA, and by sharing this with the appraiser they can better understand what went into the agent’s pricing strategy. Like an appraisal, it is important that the CMA reflects the latest and most accurate market data.
The housing market around the Greater Boston area is enduring a market climate never seen before as a result of the COVID-19 pandemic. In this ultra-competitive market, buyers need to do all they can to make the strongest offer when the right house becomes available. Consider Waiving Inspection.
Due to rising rates and home prices that have continued to influence consumer spending, 2023 saw the lowest inventory in recorded history, and in 2024, sellers are still hesitant to enter the market. However, in a market where prices are increasing, you should not have any problem getting the value of what you paid.
Due to emerging shifts in the mortgage loan market, there is a heightened sense of urgency to review the conventional loan appraisal guidelines. . By bracketing the salient features of the house in the appraisal report, appraisers sometimes overlook the proximity and location factors. Location, location, location. 1 is location, No.
In a volatile market where interest rates are constantly changing, an appraised value can sometimes trigger a renegotiation. Do careful pre-inspection research. Take your time doing your pre-inspection homework! Delays in responding to revision requests can have a serious impact on all lending parties during the review process.
With everything from securing a loan to dealing with the home inspection, a home buyer has a lot to handle. During due diligence, you'll need to hire someone to do a property inspection and appraisal. Homes that are priced at $25,000 or less have six months to sit on the market. Also, ask about issues like lead paint.
2022 started with low inventory and high competition as predicted , but by April rates began their ascent and the market began its shift. Since then, as rates and inflation have continued to influence consumer sentiment and spending, inventory has remained low as sellers hesitate to dive into the market. Real estate is a long game.
For many different reasons, properties can come on the market in less-than-par condition. At some point it’s no longer “normal market value minus cost to cure equals as-is value.” Appraisers sought to bracket the subject using three comparable sales. I am never asked sign one of these agreements in my non-lender work.
The conventional pathway to selling your home is hiring a listing agent who represents you in the transaction and manages the marketing that requires a real estate license—namely, listing your property on the MLS. High-quality photographs—and lots of them—lead to higher offer prices, more offers, and less time on the market.
Houston Housing Market Forecast: Current Data & 2021 Predictions. Concerned about a housing market crash? SUMMARY: Coming off a record year, the Houston real estate market started 2021 in a seller’s market. KEY RESOURCES: Study Of How Previous Pandemics Affected The Real Estate Market. Need To Sell?
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