Cleveland Appraisal Blog

JULY 20, 2022

I recently gave a presentation and was asked if appraisal gap clauses impact the way appraisers are developing their opinion of value? It states that the buyer will still purchase the home at the contract price, even if the appraised value is lower than the contract price by a certain amount. But not always.

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Housing Wire

OCTOBER 11, 2023

The alarming data underscores why housing professionals need to understand the financial impact of climate change on the real estate industry, George Gallagher, senior leader and principal of ESG, climate risk, natural hazard and spatial solutions at CoreLogic told attendees during a session at HousingWire Annual on Wednesday.

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Appraisal Buzz

MAY 31, 2022

This series of articles explores the role of appraisal review processes in the risk system in the format of mortgage lending for 1-4 family real estate. The first includes development and use of processes to ensure regulatory and policy requirements are being upheld by the business unit originating mortgage products.

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Appraisal Buzz

DECEMBER 9, 2024

Understanding these nuances is crucial for ensuring that time adjustments accurately reflect changing market conditions. To illustrate, Fannie Mae provides an example where the overall market value trend for a 12-month period increased by 7%. Specifically, it can show: 1. An example can be seen in Figure 7.

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Housing Wire

AUGUST 13, 2024

Imagine that the local government where you live is invoking eminent domain rights concerning your dear home to build a road or park or let a private developer do as they will (Kelo v. To make matters worse, there has been no offer to pay you for your home’s fair market and sales value. New London in 2005).

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Housing Wire

NOVEMBER 23, 2021

The Neighborhood Homes Investment Act (Neighborhood Homes) would begin addressing these challenges by developing or renovating 125,000 affordable homes in economically distressed communities. Over time, this approach will help stabilize real estate markets previously dominated by distressed sales.

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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. All three are market-based approaches.

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Housing Wire

OCTOBER 24, 2024

The Mortgage Bankers Association (MBA) on Thursday released a new white paper , which argues that Section 8 of the Real Estate Settlement Procedures Act (RESPA) is in need of reform and modernization to better reflect “today’s highly-regulated mortgage market.” It was originally overseen by the U.S.

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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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Cleveland Appraisal Blog

APRIL 21, 2022

Could being located next to a property that is an eye-sore cause a loss in market value to your home? Part of our work as appraisers is to consider whether situations like this are influencing the market value of the home we are appraising. Of course, that’s not the same as market value.

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Appraisal Buzz

OCTOBER 3, 2022

I started thinking about this when I saw the news coming from the National Association of Realtors about how far the current real estate market is out of balance. I can see why loan officers, real estate agents, or buyers might push back on appraisers’ conclusions. Appraising real estate in a fast-changing market.

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Housing Wire

OCTOBER 17, 2023

Walking that thin line is becoming increasingly important as more distressed sales are pushed up-funnel into the pre-foreclosure marketplace — a trend that began developing about 10 years ago and has accelerated in earnest over the last two years. Those dangers can be found in recent headlines from the New York Times and ProPublica.

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Housing Wire

OCTOBER 10, 2023

A Comparative Market Analysis (CMA) is a detailed report that helps real estate agents evaluate and determine the market value of a property. A CMA report includes information on similar, comparable properties in the area, including recent sales, active listings and current market trends.

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Cleveland Appraisal Blog

NOVEMBER 11, 2021

Zestimate…Ten Properties ” and finally, “ iBuyers…The Pawn Shops of Real Estate “ Obviously, this topic is of interest to me, seeing is that value is my profession. My opinion of value – $345,000. There are several reasons. Zillow’s Zestimates can be accurate. Zillow’s Zestimate – $267,500.

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Housing Wire

SEPTEMBER 6, 2024

The four firms in question all had joint ventures (JVs) or affiliated business arrangements (ABAs) in which real estate agents, who were also business referral sources, were investors. or divest real estate agents from their ownership interests. or divest real estate agents from their ownership interests.

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Housing Wire

JUNE 19, 2023

At Pinellas County Schools , a team of developers has been selected to convert the former junior high school into a development of roughly 225 apartments in total. The building at the heart of the Pinellas County development deal served as a vocational high school in the 1930s, and later served as an adult education center.

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Housing Wire

MAY 26, 2023

The threat posed by wire fraud has commanded quite a bit of attention from the real estate ecosystem. But as the housing industry has gotten better at tackling it, fraudsters have been hard at work developing more creative scams. Then, posing as the property owner, the scammer contacts a real estate agent to list the property.

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Cleveland Appraisal Blog

APRIL 11, 2023

The research and analysis that a well-trained professional appraiser can provide you with will include important information above and beyond their opinion of the market value of the property they are appraising. That can have a big impact on market value. Not professional appraisers. this guy summed it up nicely!

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Appraisal Buzz

FEBRUARY 17, 2025

Lets revisit the basics: In an H&BU analysis, real estate appraisers determine the most probable use of a property by applying four tests: whether the use is legally permissible , physically possible , financially feasible , and maximally productive. The result of this test is the most probable use of the real estate.

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Boston Appraisal

MARCH 18, 2024

In legal disputes, the accurate valuation of real estate can be pivotal, making real estate appraisers key expert witnesses. Appraisers provide valuations for shared properties, such as the marital home and other real estate investments, ensuring a fair distribution.

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Appraisal Buzz

JULY 23, 2021

Every real estate appraiser is familiar with the terms “marketing time” and “exposure time,” but it’s not always clear why and how these are developed in everyday assignments when developing an opinion of market value.

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Cleveland Appraisal Blog

SEPTEMBER 3, 2021

In most parts of the country, real estate appraiser’s main source of data is the multiple listing service. MLS) We use it to find homes that are comparable to the ones we are valuing, to determine what buyers are paying for similar homes. Agents rely on a CMA to develop an opinion of the price a home should be listed for.

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Cleveland Appraisal Blog

SEPTEMBER 30, 2022

When flipping thru one of these books, the viewer’s mind fills in the gaps between pictures so that an animated story and picture develops. Have you ever read a real estate appraisal report? Each section should contribute a little to the overall story of the value of the home being appraised. APPRAISAL REPORTS.

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Miller Samuel

NOVEMBER 30, 2018

As we say in the petition , this change can impact several groups in particular: consumers, the taxpayers, the housing market and appraisers. One group not explicitly mentioned in the petition but impacted down the road are real estate agents and brokers. from an out of market area) and will also mortgage fraud supercharged.

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The Robert Weiler Company

JULY 7, 2020

A little over two years ago, our hometown paper, The Columbus Dispatch, published an article about an emerging trend: the rapid growth in demand for industrial real estate in Central Ohio. With about 2 million square feet of industrial real estate in just two facilities, Amazon was king. Already, according to U.S.-Israeli

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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. My advice to agents and sellers is to really analyze the properties that they are using to develop their asking price. Does this seem healthy to you?

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Simonson Real Estate

JULY 10, 2020

While commercial appraisals are a central part of evaluating real estate, the appraisal process itself can be frustrating and confusing – primarily since each assessment depends on the scope and nature of the specific property. Value Scenarios. What is Market Value As Is and When is it Used? Note that U.S.

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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. However, there are other methods for estimating land value. Depreciation!

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Housing Wire

MAY 6, 2021

The hike has also added nearly $13,000 to the market value of an average new multifamily home, which translates into households paying $119 a month more to rent a new apartment, the NAHB said. Rising prices can be traced back to the onset of the COVID-19 pandemic in the U.S.

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Cleveland Appraisal Blog

JUNE 25, 2021

What is the primary reason a newly built home has a higher market value than the same home that is older? Simply stated, it is loss in value. For instance, remodeling a kitchen or bathroom typically improves a home’s market value, which in turn, reduces a home’s loss in value.

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Boston Appraisal

FEBRUARY 17, 2025

Imagine living in a neighborhood where everything you needworkplaces, schools, grocery stores, parks, and even your favorite coffee shopis just a short walk or bike ride away. This concept, known as the 15-minute city, is reshaping urban planning worldwide. The goal is simple: build communities where convenience and connection come first.

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Housing Wire

FEBRUARY 10, 2025

When I first started in real estate, I was eager for advice. Running open houses (among other strategies) has helped me build a sustainable career in real estate at Your Property People. Task 4: Market your open house Now that youre an expert on the home, its time to start marketing your open house.

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Appraisal Buzz

AUGUST 26, 2024

Stick with me: I’ll explain a strategy to develop market-based adjustments throughout the grid. Consider this example: If the remaining economic life is extracted from the market at 42 years, and economic life is 60 years, 42/60 = 70% of cost is market value.

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Birmingham Appraisal

MARCH 21, 2023

A Look at How Market Trends are used in the Real Estate Appraisal Process The real estate market is constantly changing, and market trends play a crucial role in helping an appraiser determine property values. A real estate appraisal is a process of determining the market value of a property.

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Cleveland Appraisal Blog

JUNE 18, 2022

But once these qualities are developed, many appraisers find eminent domain work to be interesting, challenging but worthwhile, and financially rewarding. Becoming an expert appraisal witness in an eminent domain case starts with developing a comprehensive understanding of how value is determined in this special proceeding.

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Boston Appraisal

SEPTEMBER 22, 2020

The backbone of any real estate appraisal is the highest and best use analysis. The goal of the real estate appraiser is to identify the use of the property that will be the absolutely most profitable use within legal, physical and financial boundaries. This is where a real estate appraiser can help.

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Simonson Real Estate

DECEMBER 6, 2022

Our goal is helping our clients make sound investment decisions and solve real estate problems to achieve their financial and business goals. Understanding the perspectives of the appraiser and bank appraisal review department helps lenders communicate with the borrower at the onset of the real estate financing process.

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