Remove Definition Remove Modernization Remove Valuation
article thumbnail

Race and the Property Valuation Industry

Appraisal Buzz

The second appraiser could also have been incompetent, resulting in an over valuation of the couple’s property. The property valuation industry has a system for dealing with situations where a home’s appraised value is in dispute; it’s called the review process. Let’s unpack this situation…. My Journey.

Valuation 370
article thumbnail

CRN – Gross Living Area Measuring Standards Announcement

Appraisal Buzz

Joan Trice, Founder and President of the CRN states, “gross living area (GLA) is one of the most important inputs in a valuation report. As the appraisal process is undergoing major shifts towards modernization and new levels of automation, this void was ripe for a solution. Jurisdictional considerations to the definition.

Valuation 370
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Is it time to replace professional baseball umpires with technology?

Appraisal Buzz

Advances in technology, particularly AI, machine learning, and high-definition cameras, have enabled unprecedented accuracy. These issues, which could be subjective when left to human discretion, can be resolved more definitively, consistently and accurately through technology.

article thumbnail

The appraisal gap is complicating deals across the country

Housing Wire

It had a large, fenced-in yard, modern appliances in an updated kitchen, a “man cave” for her husband, beamed ceilings, a massive master suite and was located in a good school district. How hybrid title and valuations help increase lending efficiency. It was definitely a rush job! The home checked off every box on Linda’s list.

Appraisal 540
article thumbnail

The appraisal industry’s hidden hand

Housing Wire

But they did not become key players in the home valuation industry until the recent housing bubble.”. The outcome was a settlement, the Home Valuation Code of Conduct, or, as appraisers swiftly dubbed it, havoc. That’s at least what the AMC trade group, the Real Estate Valuation Advocacy Association , contends.

Appraisal 435
article thumbnail

The Supply Chain Reaction – Interview with Greg Stephens

Appraisal Buzz

I have also been actively involved with the Collateral Risk Network for over a decade and am a recipient of the Valuation Visionary Award. Greg: The best way to answer that question is to first look at the definition of supply chain – as a noun, it is the sequence of processes involved in the production and distribution of a commodity.

article thumbnail

Sales Comparison Approach is Racist

Appraiserblogs

Race is NEVER considered during a valuation Last week in a congressional hearing on the future…. Racial Bias: Redlining in the Modern Era.are they behind this modern day redlining? The broad definition of an algorithm according to Merriam Webster’s Dictionary is “a…. Is Race Baked into Big Data?