Appraisal Buzz

JUNE 20, 2022

Real property appraisers have had quite a bit dumped on them in the past couple of years. The uncertainty, turmoil, and government interest in oversight and intervention caused by allegations of racial and ethnic bias in real property appraisal is cause for concern.

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Appraisal Property Appraisal Modernization Real Property 417

Housing Wire

NOVEMBER 2, 2022

These are clients with great income, credit scores and who are very creditworthy,” Bob Walters, CEO of Rocket Mortgage, said in a statement. Once the home arrives on site and is placed on a permanent foundation, it becomes a real property and is able to be financed through a mortgage.

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Mortgage Finance Real Property Buyers 418

Appraisal Buzz

OCTOBER 11, 2021

In truth, human appraisers fill two vitally important roles today, (1) we collect information and (2) we analyze it so it can be presented to our clients. We should embrace that, even if most of the efficiency gains go to our clients while our jobs get more difficult, at least in the short term. We’ll have to do the same thing.

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Appraisal Advertising Clients Investors 397

Housing Wire

MAY 10, 2024

In selling property they own, or in which they have any interest, Realtors shall reveal their ownership or interest in writing to the purchaser or the purchaser’s representative.” In addition to these two proposed changes, NAR’s delegate body will also consider a new standard of practice the trade groups board voted to include.

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Realtors Finance Agents Legal 396

Appraisal Buzz

MARCH 25, 2024

It is the work of a therapist and their client to carefully untie those knots. Of course, this applies to the work of real estate appraisal as well. Striving to look through the microscope of empirical thought, we must not forget that our subject is more than real property, it is real people.

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Sellers Appraisal Real Estate Buyers 379

Housing Wire

APRIL 26, 2021

Under the agreement, the California Association of Realtors gained “access to a comprehensive suite of tools allowing them to create, manage, negotiate, and close offers on real property, all at no additional cost and integrated with their MLS platforms,” read the March release.

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Agents Brokerage Real Estate Agent Realtors 397

Housing Wire

MARCH 11, 2024

State Title Associations and State Bar Associations provide vital continuing education for title and real property professionals, ensuring compliance with state-specific regulations and mandates.

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Training Insurance Development Client Relationships 435

Housing Wire

JULY 16, 2024

Montana automatically declares these as real property once they are permanently affixed, but the government requires the de-titling paperwork. This can be complicated when ownership changes, especially if the previous owner is deceased.” “The real estate community is now seeing more younger agents as the older ones retire.

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Mortgage Easement Home Value Business 434

GoForrmz

DECEMBER 5, 2024

Thankfully, technology will continue to play a pivotal role in not only advancing access and tools but also streamlining real estate processes and improving customer experiences. Tools leveraging AI provide data-driven insights, helping agents and property managers forecast property values, rental demand, and market fluctuations.

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Real Estate Property Management Tools Clients 78

Housing Wire

JUNE 9, 2021

This allows for a more objective analysis and better compliance, and often translates to a more efficient process with faster turn times, which allows buyers and sellers to transfer real property more cost effectively and with confidence. HW: What are some of the current challenges regarding property tax assessment?

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Appraisal Property Taxes Valuation Technology 418

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. Summary, What Does it Mean? I do several reviews every month and most normally fail to meet minimum standards.

Valuation 360

Valuation Appraisal Contracts Legal 360

Cleveland Appraisal Blog

FEBRUARY 16, 2024

The mate on the opposing side accused me of appraising the property at a value that favored my client. They felt my opinion of the market value of the marital property was too high based off of Zillow sales that they found. I recently appraised a home for a divorce. Of course, they didn’t accept my explanation. That’s okay.

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Appraisal Market Value Real Estate Clients 405

Housing Wire

DECEMBER 7, 2023

It’s causing us in the industry — title settlement, real estate, mortgage lending, the attorneys — to rethink, can you even trust a voicemail? So you have a client that appears to have left a voicemail: ‘Hey, I’m traveling. And then they will impersonate the property owner. And it goes all the way through closing.

Real Estate 476

Real Estate Sellers Technology Real Estate Agent 476

McKissock

SEPTEMBER 20, 2021

Real estate risk management is an important concern for agents. Real estate agents are commonly sued for breaching their duty to act in the best interests of their client. Keep reading to learn how to improve real estate risk management, and avoid getting into trouble with the law, by putting your clients’ interests first.

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Real Estate Clients Real Estate Agent Realtors 58

Cleveland Appraisal Blog

APRIL 11, 2023

With the massive amount of technology available to anyone who can access the internet, you might wonder why bother getting a real property appraisal? Slap a few sales in a report, and make a few guesstimate adjustments to come up with their opinion of a property’s value? Isn’t that all that appraisers do? Don’t you?

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Appraisal Market Value Legal Property Appraisal 353

Simonson Real Estate

JULY 10, 2020

An appraisal is an objective, impartial, and unbiased opinion about the value of real property prepared by a State Licensed or Certified professional appraiser. The estimate of the market value of real property in its current physical condition, use, and zoning as of the appraisal date. Value Scenarios. Bottom Line.

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Appraisal Process Appraisal Market Value Tenants 148

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

Cleveland Appraisal Blog

MAY 26, 2023

In recent years, on several occasions, I have been hired to appraise a property after a valuation service was provided for my client by another real estate professional. They had hired the former real estate professional to value their property for the purpose of a divorce. Have a great weekend!

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Appraisal Real Estate Agent Real Estate Valuation 301

Cleveland Appraisal Blog

SEPTEMBER 2, 2022

Standards Rule 1-5 in the Uniform Standards of Professional Appraisal Practice (USPAP) states that when appraising a real property, an appraiser must : (a) reconcile the quality and quantity of data available and analyzed within the approaches used; and. (b) Let me give you a real-world example. Lenders are not value experts.

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Appraisal Development Valuation Market Value 337

Simonson Real Estate

JUNE 22, 2020

With a wide range of commercial appraisal experience and real estate consulting, Mitchell Simonson’s 16 years of experience, knowledge, and ‘boots on the ground’ attitude are invaluable assets that have helped countless clients make smart business decisions. With more than 675 employees in over 70 locations, clients across the U.S.

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Valuation Real Estate Appraisal Retail 146

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. Lenders and clients will be looking for an appraisal to secure a loan on the STR. What do short-term rentals mean for appraisers?

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Appraisal Tenants Investors Business 148

The Robert Weiler Company

SEPTEMBER 30, 2020

As shocking as it may be, commercial real estate appraisal reviews are required for the following reasons: The conclusion of the original CRE appraisal is in contention. The obligation to the client isn’t met. It isn’t clear who owns the appraised property. City or federally owned property is being evaluated.

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Real Estate Appraisal Valuation Property Appraisal 137

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. Clients and intended users.

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Appraisal Appraisal Process Clients Development 92

McKissock

MARCH 17, 2023

Steps to become a supervisory appraiser Step 1: Meet the requirements Make sure you meet the minimum supervisory appraiser requirements outlined in The Appraisal Foundation’s Real Property Appraiser Qualification Criteria as well as any additional state requirements that may apply.

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Appraisal Training Property Appraisal Real Property 97

Cleveland Appraisal Blog

APRIL 21, 2022

The homeowners of one property stated that their neighbors are a nuisance. My clients said that one of their neighbors has people coming and going until late in the evening, most evenings. Is that the case? Can that be the case? Let’s talk about it. They also complained about there being noisy.

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Market Value Appraisal Agents Real Estate Agent 350

Cleveland Appraisal Blog

JANUARY 19, 2023

AN EXAMPLE Earlier in the year, I appraised a property that was originally built for buyers that do not require electricity. This property is located in an area where it is common for some buyers to require a home not to be electrified. Since the current owners purchased the home several years ago, they added electricity.

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Appraisal Transportation Buyers Property Appraisal 283

Simonson Real Estate

SEPTEMBER 25, 2020

With a wide range of commercial appraisal experience and real estate consulting, Mitchell Simonson’s 16 years of experience, knowledge, and ‘boots on the ground’ attitude are invaluable assets that have helped countless clients make smart business decisions. With more than 675 employees in over 70 locations, clients across the U.S.

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Valuation Appraisal Marketing Real Estate 130

Housing Wire

DECEMBER 8, 2023

Topics include: Real estate license law, agency, contracts, real property, ownership, taxes, water law, land development and zoning, deeds and title transfer, escrow and settlement, fair housing, leases & more AZ Contract Writing Course: 6 hrs of required instruction.

Real Estate 433

Real Estate Contracts Law Real Estate Agent 433

McKissock

MAY 14, 2023

for mortgage financing purposes or tax assessment appeal purposes) Identification/brief description of the property appraised Real property interest appraised (e.g., fee simple, leased fee, etc.) population, news articles, economic data, internet searches, etc.)

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Appraisal Appraisal Process Property Appraisal Real Property 87

McKissock

MAY 18, 2021

While the appraiser has broad flexibility in the level of detail and manner of disclosing the scope of work in the appraisal report, there must be sufficient information contained in the report for the client and other intended users that rely on the assignment results to understand the scope of work performed.

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Appraisal Inspection Clients Real Property 63

Lamacchia Realty

DECEMBER 18, 2023

By definition, a real estate agent is a sales professional licensed by their state to assist clients in buying, selling, or leasing properties. A REALTOR® is a real estate agent who is also a member of the National Association of REALTORS®, otherwise known as NAR. Your real estate journey deserves nothing less.

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Realtors Agents Real Estate Agent Real Estate 74

Real Quantum

NOVEMBER 24, 2020

It’s important that they are always challenged to learn a new skill, scope of work, property type, or technology. They do this through client relationships and should be rewarded for it. Have good moral character; Be a Certified General Real Property Appraiser (or meet equivalency).

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Appraisal Client Relationships Design Property Appraisal 64

Walitt Solutions

MAY 24, 2024

One of those common scenarios goes like this: I completed an appraisal and transmitted the appraisal report to the client for a purchase appraisal. Now, a few weeks later, the parties have signed an addendum to the contract to match my value conclusion; the client has sent me that addendum. Is there a new effective date?

Contracts 74

Contracts Appraisal Clients Market Value 74

Housing Wire

OCTOBER 9, 2023

The tools and technology to succeed Brokerage tools, cutting-edge technology, market assistance, and industry insights are key to succeeding as an Illinois real estate agent, so look for a brokerage that provides the resources and agent services you need to maximize reach for your clients.

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Real Estate Agent Real Estate Agents Brokerage 448

McKissock

JULY 29, 2020

These two terms are often used interchangeably by appraisers and clients, but under the GSEs’ new definitions, they are different types of assignments. A Hybrid appraisal is defined as, “An appraisal assignment consisting of a desktop appraisal for which the scope of work includes reviewing a recent interior/exterior property data report.”.

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Modernization Appraisal Property Appraisal Clients 60

Walitt Solutions

MAY 17, 2024

Considering that USPAP does not require an inspection of the subject property (although one is often performed, such as due client scope requirements), we have to ask: Where is the term “personal inspection” even used in USPAP? The appraiser has now accepted a new appraisal assignment B on March 10 for Client B.

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Inspection Appraisal Clients Appraisal Process 57

McKissock

DECEMBER 28, 2021

Over the past several years, the single largest source of business for real property appraisers has been residential mortgage lending, specifically mortgage refinances. Older appraisers, he says, often get calls to handle complex properties that might lie outside the expertise of a less experienced competitor. “We

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Appraisal Reconsideration of Value Real Estate Property Appraisal 96