Housing Wire

MARCH 24, 2023

An appraisal gap is the difference between what a buyer agreed to pay for a home in a purchase contract and what an appraiser concludes as the fair market value of the property. The truth of it is that an appraisal coming in below the contract price can be a powerful tool for a homebuyer and save them future pain and heartache.

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Appraisal Contracts Valuation Tools 476

Appraisal Buzz

FEBRUARY 24, 2025

At its core, real estate appraising involves the due diligence necessary to form a credible opinion of the market value of a particular property. This requires a deep understanding of the appraiser’s local real estate market, as well as of the physical, legal, and economic factors that influence property values in it.

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Cleveland Appraisal Blog

MAY 27, 2021

While it may seem like many buyers don’t care about what the market value of a home is, I think that we must be careful to not make that assumption. While some may be willing to spend more than market value on a home, in many cases, there is a threshold to the amount a buyer is willing to spend on a home.

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Market Value Appraisal Buyers Contracts 418

Appraisal Buzz

AUGUST 16, 2021

Fannie Mae defines market value in part as “the most probable price that a property should bring…” Thus, probability is the very foundation of the most common definition of market value. In other words, why are appraiser estimating market value below the contract price so often?

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Market Value Buyers Appraisal Sellers 448

Housing Wire

DECEMBER 2, 2021

Zillow said Thursday that more than 50% of its remaining iBuying inventory “has sold, is under contract to sell or has reached agreement on disposition terms.”. Also, the company’s board of directors authorized the repurchase up to $750 million in shares of Zillow stock, according to a press release.

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Inventory Real Estate Agent Investors Market Value 459

Housing Wire

MARCH 1, 2023

Among Polly’s other offerings are data and analytics for banks, credit unions and mortgage lenders, which help “to automate and optimize the entire capital markets value chain, helping their secondary teams operate faster, smarter, and more profitably.”

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Real Estate Agent Technology Open Houses Loan Officers 370

Cleveland Appraisal Blog

MARCH 30, 2021

Within the past couple of weeks, I have appraised several properties for purchases, where my opinion of the market value of these homes was significantly below the contract price. When an appraiser’s opinion of value is below the contract price, that’s when the carping begins.

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Housing Market Marketing Reconsideration of Value Contracts 368

Housing Wire

AUGUST 31, 2023

and Business MAPS Management LLC as defendants, Davis alleges that the defendants inflated key profitability metrics including company sales and profits to convince individuals to purchase Keller Williams Regions and Market Centers. In the filings, which name Keller Williams , Keller, former KW president Josh Team, Business MAPS Ltd.

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Contracts Business Brokerage Training 435

Housing Wire

MAY 21, 2024

Without sales figures, it’s difficult to access comparable sales, and home buyers may find it challenging to gauge the fair market value of a property. Buyers should focus on other factors when estimating a property’s value , such as location, condition of the home, local amenities, and current market trends.

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Real Estate Agent Real Estate Inspection Valuation 488

Cleveland Appraisal Blog

AUGUST 20, 2021

If you’re not an appraiser, if you are trying to figure out the value of a home, chances are good that you use a price per square foot metric. That way of measuring the market can lead to an opinion of value that is in the ballpark of a home’s market value. However, oftentimes, it does not. .

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Appraisal Market Value Contracts Agents 418

Housing Wire

NOVEMBER 2, 2021

The prior announcement was stunning in its own right, and led to revelations that the company bought homes for well above market value, and re-listing homes for less than what they were bought for. By close of the market Tuesday, the company’s stock price had tumbled 12% during the day, trading at $87.20

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Market Value Real Estate Agent Agents Business 418

Housing Wire

JUNE 19, 2023

Adding to the issue are concerns raised by educators regarding their working conditions including pay, a lack of support, inflexibility in instruction requirements, lack of multi-year contracts and large classroom sizes according to the Florida Education Association.

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Development Market Value Contracts Construction 370

Housing Wire

JUNE 11, 2021

A qualified appraiser will compare recent sales of similar local properties, market trends and conduct a visual inspection of the home’s interior and exterior to determine the property’s fair market value. If the appraised value ends up matching or is higher than the contract price, the transaction can continue as planned.

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Housing Wire

JULY 6, 2022

In the case of Fannie Mae, via an acknowledgement agreement, it has granted PFSI “the right to certain amounts based on sale proceeds, if the MSRs are sold by Fannie Mae, or appraised market value, if the MSRs are retained by Fannie Mae,” the KBRA bond-rating report states.

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Investing Finance Mortgage Valuation 397

McKissock

DECEMBER 14, 2021

The standard residential appraisal report form’s definition of Market Value states in part: “ Implicit in this definition is the consummation of a sale as of a specified date and passing of title from seller to buyer under conditions whereby: buyer and seller are typically motivated…”. .”

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Market Value Marketing Property Appraisal Appraisal 80

Walitt Solutions

MAY 24, 2024

My market value conclusion came in below the purchase contract price. 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. The client wants me to change my report to show the new amended contract price!

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Contracts Appraisal Clients Market Value 74

Cleveland Appraisal Blog

OCTOBER 14, 2021

On many of my appraisals at that time, my opinion of value would not support the contract price. Perhaps they were drinking the Kool-Aid that some are drinking today, that market value is whatever the purchase price is. Don’t drink the Kool-Aid that any contract price is reflective of market value.

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Inventory Market Value Appraisal Contracts 243

JMV Lending

APRIL 18, 2024

We had an appraisal come in $40,000 under contract a few weeks ago and both the buyers and sellers were furious solely because they did not understand appraisal guidelines. The post Appraised Value Can’t Exceed Highest Comps; Appraised Value Market Value; WHY WE NEED AGENTS!

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Market Value Appraisal Agents Marketing 78

Housing Wire

JULY 13, 2022

June was a rough month for jumbo-mortgage securitizations, with only two private-label offerings brought to market valued at roughly $821 million. The Rocket prime jumbo deal was backed by mortgages valued at $337.9 Morgan jumbo offerings and current market rates. Morgan Chase via the Rocket Mortgage Trust and J.P.

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Mortgage Market Value Contracts Marketing 418

Cleveland Appraisal Blog

AUGUST 20, 2021

If you’re not an appraiser, if you are trying to figure out the value of a home, chances are good that you use a price per square foot metric. That way of measuring the market can lead to an opinion of value that is in the ballpark of a home’s market value. However, oftentimes, it does not. .

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Appraisal Market Value Contracts Agents 270

McKissock

AUGUST 13, 2021

Why must an appraiser be given a copy of the sales contract? Secondly, the appraiser is likely familiar with the local real estate contract forms, customary terms, and conditions of real estate transactions in the area, and might be able to identify irregularities and comment on them. When should we analyze the contract?

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Contracts Appraisal Market Value Real Estate 64

Cleveland Appraisal Blog

SEPTEMBER 30, 2022

This first section of the report discusses some of the positive and negative aspects of a neighborhood that may impact market value. Is there anything about the improvements that would positively or negatively impact its market value? Appraisers look at homes that have sold, that are listed, and those under contract.

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Appraisal Market Value Development Clients 351

Cleveland Appraisal Blog

MAY 26, 2023

The Sales Comparison Approach uses competing homes to develop an opinion of the market value of the property being appraised. The Income Approach uses potential income to develop an opinion of the market value of a property, when applicable. All three are market-based approaches.

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Appraisal Real Estate Agent Real Estate Valuation 309

Appraisal Buzz

MAY 24, 2021

Challenges often arise in how professionals figure out the overall value of multifamily homes. Because appraisals are contingencies in 43% of contracts , you must find ways to accurately evaluate these properties. Essentially, you calculate each unit’s fair market rent based on other rentals located in the neighborhood.

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Appraisal Tenants Buyers Landlords 397

Realtor

OCTOBER 29, 2020

Appraisal contingency: With this contingency, a third party hired by your mortgage lender evaluates the fair market value of the home. You have a specified time period, as stated in the sales contract, during which you have to obtain a loan that will cover the mortgage. A copy of your contract with the seller.

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Buyers Inspection Contracts Real Estate Agent 208

Housing Wire

JUNE 2, 2022

million in crypto-loan value across 35 homes that have a total market value of some $44 million. Redwood Trust also is an investor in Point , a non-blockchain-based fractional home-equity lender that provides homeowners with cash upfront in exchange for a contract providing Point with a slice of the homeowner’s equity.

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Technology Investing Investors Mortgage 418

GoForrmz

JANUARY 16, 2025

Stay competitive in 2025 with essential digital tools for construction businesses The construction industry is projected to reach a global market value of $14.4 Electronic signature tools allow construction businesses to speed up the signing process for contracts and other critical documents while maintaining legal compliance.

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Tools Construction Business Project Management 78

Cleveland Appraisal Blog

JUNE 17, 2022

When developing an opinion of the market value of a property, what appraisers are really measuring is how much depreciation a property has suffered from, and more specifically how much depreciation the improvements on the land have depreciated. USPAP and the Contract – Tim Andersen, The Appraiser’s Advocate Podcast.

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Appraisal Development Market Value Tenants 286

George Dell

AUGUST 25, 2021

Freddie Mac Chief Appraiser Scott Reuter recently noted pervasive market analysis deficiencies in appraisal opinions. Specifically, discrepancies from actual contract prices. The post Can You Measure Market Velocity? is the title of a 1975 journal article by Richard Ratcliff, MAI.

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Marketing Contracts Appraisal Market Value 195

McKissock

MARCH 2, 2021

Here are five excellent resources offered by McKissock Learning—including a Pro-Series webinar on Wednesday, March 17, 2021, “ The Market Value Doesn’t Support the Contract Price, Now What? ”. Webinar: The Market Value Doesn’t Support the Contract Price, Now What? Sign up now.

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Appraisal Contracts Market Value Clients 103

Listing Spark

JANUARY 5, 2025

A realistic price can attract potential buyers, while an overpriced home can sit on the market for months. Here are some tips to help you calculate your homes worth: Research comparable homes : Look at recent sales of similar homes in your neighborhood to determine a fair market value.

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Sellers HOA Real Estate Agent Contracts 69

Town & Country Residential Appraisals

MAY 8, 2023

According to Standards Rule 1-5 in the Uniform Standards of Professional Appraisal Practice (USPAP), we are required to analyze any contracts for sale. That's why it's important for the appraiser to receive a copy of the sales contract. By viewing the contract, the appraiser may be able to identify irregularities and comment on them.

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Contracts Appraisal Real Estate Property Appraisal 54

Eyes on Housing

JUNE 12, 2023

1 Financial Accounts of the United States shows for a third consecutive quarter the value of households’ real estate assets contracted. The combination of economic uncertainty and declining home prices has played a role over the past year in decreasing the value of households’ real estate assets.

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Real Estate Contracts Market Value Marketing 193

Realtor

MAY 17, 2023

While it’s certainly true that you can let go of the anxiety of needing to show your home at any moment, you still need to cooperate with your buyer, the buyer’s agent, and the commitments made in the contract. Once the contract has been signed, a seller can’t renegotiate the price higher.

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Sellers Inspection Contracts Property Taxes 142

Cleveland Appraisal Blog

MARCH 25, 2023

– Birmingham Appraisal Blog Tim O’Brien’s Journey in the Appraisal Industry: Following the Yellow Brick Road – PahRooZings: Appraisers On Purpose Podcast Appraiser Adjustment Tools – APPRAISAL TODAY Devalue Market Value?

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Supply Chain Appraisal Renovations Market Value 289

Simonson Real Estate

JULY 10, 2020

The understanding here is the tenants could vacate and a more reliable value is provided by the fee simple analysis based on market rents. When a property has longer-term leases in place, even at market rates and terms, the interest appraised is typically leased fee. Value Scenarios. Prospective Values.

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Appraisal Process Appraisal Market Value Tenants 148

Appraisal Buzz

DECEMBER 9, 2024

Market Condition Adjustments Illustration Fannie Mae guidelines emphasize that adjustments made to comparable sales are based on market changes between the contract date of the comparable sales and the effective date of the appraisal. This is shorthand that every experienced appraiser knows and understands please dont @ me.

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Appraisal Marketing Valuation Tools 358