Appraisal Today

SEPTEMBER 22, 2023

I am working on an article on Hybrid Appraisals for the November issue of Appraisal Today. To me, the big issue is who is doing the inspections. Only appraisers do the appraisals. Most of the inspection training we receive as appraisers happens in the field. Inspection training was very good.

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Appraisal Training Inspection Real Estate 86

Realtor

MAY 18, 2018

They may no longer be required to get formal property appraisals—a change that could save them hundreds of dollars and speed up the closing process. A little-known change in requirements last year from mortgage giants Fannie Mae and Freddie Mac has made these waivers for traditional, in-person appraisals available.

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Appraisal Inspection Buyers Valuation 78

Realtor

MAY 18, 2018

They may no longer be required to get formal property appraisals—a change that could save them hundreds of dollars and speed up the closing process. A little-known change in requirements last year from mortgage giants Fannie Mae and Freddie Mac has made these waivers for traditional, in-person appraisals available.

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Appraisal Inspection Buyers Valuation 78

Appraisal Today

MARCH 15, 2024

Defining rural properties – USDA and GSEs Challenges of appraising rural properties Appraising rural properties presents unique challenges due to their diverse characteristics and market dynamics. Transaction costs are added to every property transaction. Answer: No. Well written and not too long.

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The Robert Weiler Company

OCTOBER 15, 2021

Another mistake – perhaps one of the more obvious (and, consequently, most detrimental) mistakes – is contracting the commercial property for sale in your personal name. Tip #5: Hire a professional Ohio real estate appraiser to assess the Columbus, Ohio commercial property for sale before signing.

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Birmingham Appraisal

FEBRUARY 28, 2023

These mistakes can significantly impact the value of a property and even lead to an appraisal being lower than the contract price. In this blog post, I will discuss some of the most common mistakes sellers should avoid during a real estate appraisal.

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Birmingham Appraisal

JUNE 21, 2023

Real estate agents, as trusted guides for their clients, must possess a good understanding of the factors that influence property appraisals. In this blog post, I’ll discuss key appraisal factors, and common challenges, and offer valuable insights for real estate agents to navigate the appraisal process effectively.

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Birmingham Appraisal

FEBRUARY 8, 2023

Not really, and today I’m going to explain the differences between several different types of appraisals that could mean the difference between a home appraising for contract price or not. For the record, I will state that the goal of every appraisal is to estimate the market value of a home, usually for lending purposes.

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Appraisal Today

AUGUST 18, 2023

Be sure to put in a comment requesting it. == The Future of Property Appraisal: Unveiling the UAD Redesign and New URAR By: McKissock August 15, 2023 At the recent Valuation Expo conference in Las Vegas, Heather Sullivan (Aloft), Ken Defeo (Fannie Mae), and Sean Murphy (Freddie Mac) provided a peek at some of the upcoming changes.

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Appraisal Contracts Inspection Real Estate 75

Zillow

JULY 25, 2016

You've made an offer on a property, the seller has accepted, and maybe you’re about to sign a contract. Get to know the property Every house, no matter if it's a 100-year-old Victorian or a modern marvel , should have some type of inspection before it's sold. If you do, you risk forfeiting your deposit.

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Mashvisor

SEPTEMBER 30, 2021

These conditions in the contract specify when a buyer can back out without penalty. Thus property sellers… Contingencies are commonplace in real estate transactions, but they could derail a sale.

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Sellers Contracts Real Estate Buyers 62

Movoto

MAY 29, 2024

During standard home sales, earnest money comes into play around the time a home goes under contract. It shouldn’t affect the core of a home-buying budget , but the earnest money amount needs to be available for a home to proceed to the “in-contract” phase in the month leading up to closing. What is Earnest Money?

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The Robert Weiler Company

OCTOBER 21, 2022

We believe that you’ll feel better informed, more confident, and maybe even a little enthusiastic when it is time to schedule a free consultation with a commercial property appraiser. Question 1: What is a commercial real estate appraisal? Question 5: Why are commercial property appraisals important?

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Appraisal Today

NOVEMBER 17, 2023

4 Myths About Property Data Collection By McKissock Excerpts: Myth #1: PDC is the same thing as property appraisal As a professional appraiser, you know very well that what a property data collector does is not the same as what you do — even if your clients don’t always understand the difference. percent from 7.58

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Appraisal Today

JANUARY 20, 2023

Arouse the suspicion of an entire neighborhood when inspecting comparable sales. Spend hours writing volumes of supporting documentation to justify the market value of a property you already decided on when you pulled into the driveway. An excellent way to get more appraisal business! How to get a FREE Google Business Profile.

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Appraisal Contracts Sellers Business 52

The Robert Weiler Company

NOVEMBER 9, 2022

If your desired area passes our flying colors criteria, it’s time to find the commercial property you want to invest in. This may seem like a lot, but if you find an issue before you purchase the property, you can try to negotiate the price to cover the repair costs. billion of new commercial real estate construction contracts in 2021.

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Transportation Real Estate Supply Chain Investing 78

Appraisal Today

JUNE 17, 2022

Excerpt: We continue to see claims alleging that the rural property appraiser failed to adequately identify or report details surrounding a water source. In one claim, the appraiser correctly noted that the property was serviced by a “private water well.” No inspections or appraisals? All cash and investors.

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Appraisal Contracts Real Estate Mortgage 52

AmeriMac

JANUARY 3, 2022

Note that this is an entirely separate process from something like a home inspection. The easy way to think of it is that an appraisal is entirely focused on determining the true value of a home. A home inspection, on the other hand, is all about the functional quality of the home. What Is an Appraisal Contingency?

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Appraisal Buyers Sellers Contracts 36

AmeriMac

JANUARY 3, 2022

Note that this is an entirely separate process from something like a home inspection. The easy way to think of it is that an appraisal is entirely focused on determining the true value of a home. A home inspection, on the other hand, is all about the functional quality of the home. What Is an Appraisal Contingency?

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Appraisal Buyers Sellers Contracts 36

Appraisal Today

OCTOBER 11, 2024

Some negative outcomes may include: Limitation of investigative property inspection, work scope, anomalies, and interaction with the lender client when unique situations arise. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) increased to 6.36 percent from 6.14

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Appraisal Insurance Contracts Valuation 74

Appraisal Today

DECEMBER 2, 2022

Excerpts: The AQB previously considered the option of allowing parallel professional non-appraisal experience. Counseling buyers, sellers, owners, and tenants on inspections and remediations, improvements, and the appraisal process. Completing Evaluations in compliance with the Interagency Appraisal and Evaluation Guidelines.

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The People's Appraisal Blog

MAY 3, 2018

In this example of client pressure, a subject property appraised for $180k; the contract was for $225k. In another example, a subject appraised for $370k, the contract was for $385k, the list price was $400k (this is important). Five comparables were provided on the subject street including one across the street.

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Appraisal Contracts Clients Renovations 36

PennyMac

JUNE 28, 2022

From taxes, to inspection fees, to mortgage fees, you’ll need to make sure each party is paid to fully purchase your home. This fee will cover the attorney preparing and reviewing agreements and contracts. The agency will use the data from the inspection to plan for flooding emergencies. Lead-Based Paint Inspection.

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Property Taxes Insurance Sellers Inspection 36

Appraisal Today

APRIL 14, 2023

5 Resources to Help You Avoid Appraisal Errors and Violations As busy real estate appraiser, both your time and your professional reputation are extremely valuable. While most common appraisal errors are minor and won’t result in disciplinary action, even small mistakes take time to correct and therefore slow down your process.

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Appraisal Today

NOVEMBER 20, 2022

Failures to personally inspect and photograph comparables. So, it’s pretty safe to state that the “appraiser shortage” of yesteryear is over, and reviewers now have more time on their hands. Excerpts: Disciplinary complaints against appraisers are becoming more and more common. What’s happening now. To read more, click here.

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Appraisal Real Estate Agent Real Estate Contracts 52

Appraisal Today

APRIL 28, 2023

First: How do appraisers value any amenity of a property? Appraisal 101 would suggest the matched pairs analysis. So our first task is to find a property with solar panels that’s similar to the subject. You can always do desktops and inspections for low fees and fast turn times, of course. percent from 0.5

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Appraisal Real Estate Business Contracts 52

Housing Wire

NOVEMBER 30, 2021

The movement to embrace appraisal modernization techniques also holds the promise of removing the potential for racial bias, better supporting efforts to remove valuation gaps that persist in minority neighborhoods. of the properties in Black neighborhoods receive appraisal values lower than the contract price versus 7.4%

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Appraisal Process Modernization Appraisal Valuation 432

Appraisal Hub

FEBRUARY 15, 2024

Commercial Appraisals, on the other hand, delve into properties used for business purposes, including office buildings, retail shops, industrial sites, farm, and apartment complexes with five or more units. For commercial properties, this also involves analyzing the business environment and potential for income generation.

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Real Estate Appraisal Inspection Appraisal Process 78

Housing Wire

JUNE 14, 2022

The Federal Housing Finance Agency released voluminous plans last week developed by Fannie Mae and Freddie Mac to make the housing market more equitable, in part through changes to the appraisal process. Non-traditional appraisals to the rescue. Both GSEs argue that these approaches advance equity.

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Appraisal Valuation Inspection Law 292

Clear Capital

JANUARY 5, 2023

. “The appraiser profession needs greater diversity, allowing those involved in the process to reflect the diverse communities they serve.” Appraisers are trained to provide an objective, unbiased analysis, but they also must rely upon data and methodologies that have been impacted by the systemic racism of redlining.

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Appraisal Modernization Valuation Appraisal Process 61

Appraisal Today

NOVEMBER 29, 2024

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) decreased to 6.86 The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $766,550) decreased to 6.97 the winding down of PAVE seems almost inevitable. percent from 6.90

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