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Determining the value of a home depends on both art and science. With the increasing availability of massive amounts of housing data and the ability to analyze that information. Analysis of millions of pieces of disparate data informs nearly every decision made involving residential real estate. Todd Teta – guest columnist March HW Magazine. Consumers, real estate agents, investors, mortgage lenders, insurance companies and other financial institutions need accurate valuations to inform th
Last Friday I had a fun discussion with Lisa Abramowicz on Bloomberg Surveillance. It's been bedlam in Appraiserville so I've been slow to post it. The New York to Florida housing migration story has been a bit one sided with optics that suggest 9 people will be left in Manhattan by the summer time despite that Manhattan contract activity beginning to surge.
As a real estate appraisal provider, it can be hard to get into the home owner’s perspective. It seems that what is important to them may not directly translate into. Read More.
If you ever get the chance to visit Pymatuning Lake in PA, which is on the boarder of Ohio and Pennsylvania, make sure to go over to the Linesville Spillway. It is an amazing site. Hundreds of Carp congregate in the spillway, battling for food. Throw a little bread in, and it’s a feeding frenzy! There are so many Carp, packed so closely together, that at times geese and ducks can walk over them like a road. .
Finance teams find Trellis to be particularly effective in conducting comprehensive due diligence on both individuals and businesses. With our court data solution, financial experts can access critical litigation insights, making it an invaluable resource for informed decision-making in the financial sector.
How about “loan conditions”? Clients only need a value in order to quantify risk. Is this scary? Editor’s Note: This post is an intersection of Modernization and Risk. There are only three uses for knowing value: 1) collateral loss, 2) investment gain, 3) equitability. Historical value may only be relevant to #3. Loss or gain […]. The post How About Loan Conditions?
I enjoy many aspects of my career as a residential real estate appraiser. I’m self employed so I have no one to blame but myself; I set my own hours; I get to see a lot of places in the region; I spend much of my time trying to find meaning in data then communicating […].
I enjoy many aspects of my career as a residential real estate appraiser. I’m self employed so I have no one to blame but myself; I set my own hours; I get to see a lot of places in the region; I spend much of my time trying to find meaning in data then communicating […].
When there’s a bidding war, cash is king. And a recent Redfin study confirmed that it’s the only sure-fire way to win that dream house in a market this crazy. Homebuyers who offer all-cash improve their chances of winning a bidding war by 290%, per Redfin’s study of clients buying homes between June 2020 and February 2021. And waiving the financing contingency is the second-most effective bidding-war strategy, Redfin officials said – improving homebuyers’ odds of wi
Digital Lockout Tagout (LOTO) forms improve visibility into job site safety procedures and help to safeguard teams working with hazardous energy Clearly communicating LOTO procedures is critical when working with machines and equipment that could expose workers to hazardous energy. For example, teams working with wiring, wind turbines, or conveyer systems could all be exposed to hazardous situations if preventative steps are not carefully taken.
Many appraisers work out of our homes, not interacting with office staff or other appraisers. Even when we’re out, we’re still doing work-related tasks like shooting pictures and doing inspections. Read More.
Like most aspects of an appraisal, things seem easy. That is, until one takes a closer look. Age is a good example. It seems logical to think that a newer home is more valuable than an older home. However, that’s not always the case. Last week, a real estate agent asked me about how appraisers adjust for age. So, I thought this would be a good topic to discuss.
Construction projects are high-stakes operations where even minor inefficiencies can lead to costly delays, safety concerns, and budget overruns. Managing risk in construction has always been a challenge, but as projects grow in complexity, traditional methods no longer cut it. Enter Digital Transformation - a game changer approach that replaces inefficiency with AI-powered analytics, real-time monitoring, and automated workflows to proactively manage risk.
Postpone appraisal modernization. We can do that later. Why? Change and improvement should, normally, come from a profession. When a profession fails to bring improvement, eventually consumers/clients press for change. That’s what seems to have happened. The two largest consumers of appraisals now have pressed for change. Fannie Mae and Freddie Mac have realized the […].
It’s easy to be mixed-up about mixed-use property for sale! The sector offers a head-spinning amalgam of residential, commercial, hotel, and retail space; however, each piece harmonizes to form an immediate community. Not to mention that mixed-use properties are especially popular in our hometown of Columbus, Ohio, spread across the urban and suburban landscape.
Home prices continued their acceleration in January according to the S&P Corelogic Case-Shiller National Home Price Index, jumping 11.2% year over year, the highest gain in nearly 15 years. The Tuesday report also revealed an 11.1% year-over-year gain in January for the 20-city price index, up from 10.2% the previous month. Overall, prices rose month over month in 19 of the 20 cities tracked, with Cleveland being the only city to see prices drop.
Whether you're shopping for a mansion overlooking the green on the 16th hole, waterfront home with breathtaking views, or a penthouse loft in the heart of downtown, the luxury home buying process is one you'll want to be sure to do your homework on. As a buyer shopping for high-end real estate, there are certain tips and strategies that are both similar and different to your typical home buying process.
Trellis is a state trial court research and analytics platform that provides Real Estate Professionals (Buyers, Foreclosure, Loan Modification, etc.) with LEADS on Pre-Foreclosures, Lis Pendes, Distressed Assets and more — to help uncover **new** opportunities and grow their business. The process is quick and easy — and all in real time. Trellis will supply you with a link to the relevant dockets, a Leads sheet and access to its UI where applicable.
I was recently asked by a newbie in real estate appraisal how much I think a new real estate appraiser should charge. Many new appraisers and trainees want to get. Read More.
As a child, many of my best friends had darker skin than mine. Fortunately, I grew up in a family whose view is that all people are equal, and that differences in race, skin color and background, are what make humans so beautiful. Sadly, there are some that do not share that view. . As a teenager, my friends would describe to me experiences they had in retail stores, in which they were watched uncomfortably closely by store clerks.
Is there bias in the American Dream? Do we need a “loan conditions” adjustment? Read Part 2 here. Loan conditions have nothing to do with ‘financing’ adjustments as we know them! One is local. The other is global. So how might loan conditions affect “market value”? Financing conditions are often related to motivation in sale […]. The post The American Dream and Bias in Loans?
Is the appraisal industry doomed? For years we’ve been told “The end is near” for the appraisal industry. We know this isn’t true! We can’t help but wonder why naysayers continue to shout this headline! Appraisal Buzz hosted DataMaster appraisers Jared Preisler, SRA, and Keven Ewell recently to address this threatened “impending doom.” Join Jared and Keven and hear their thoughts and experiences with the appraisal industry.
Although many homeowners and renters continue to feel the economic pressure of the pandemic , they’re growing more confident that they can pay their rent or mortgage, according to the latest consumer confidence survey by Freddie Mac. The survey respondents, of which two-thirds are homeowners and one-third are renters, found that more than half of respondents in 2020 expressed concern about making payments, with a high of 71% reported in November.
With spring around the corner and signs of improvement for the pandemic, a feeling of rebirth is in the air across Ohio. But for up-and-coming neighborhoods with a special purpose property or unique properties for sale, the soon-to-be bloom time might as well be called boom time. Something “special” is taking place in neighborhoods throughout the Columbus region.
I recently broke my scapula taking my 11-year-old dirt biking. I should have brought another adult, but it was his and my bonding time. To set the scene: We were. Read More.
What Does Contingent Mean in Real Estate? When searching for a home for sale, you may have encountered a variety of different sales statuses online including contingent real estate listings. Beyond just “for sale” and “closed,” you may have also seen other common sales statuses such as “pending” or “contingent.” These phrases indicate where in the sales process the home is in.
Legacy appraisal practice “the valuation process” is well established. Therein lies the problem. It is not designed to use modern methods toward objective, unbiased results. First, lets distinguish the different kinds of bias. We need to separate personal bias from analytic bias. Personal bias can be intentional, or unintentional (unconscious). Analytic bias itself can come […].
Whenever the market heats up like this, particularly in the springtime, appraisals invariably come in low. This is simply because there are often no closed comparable sales (comps) that even come close to supporting current contract prices, especially when there are bidding wars. REMINDER: Appraisers can only use comps that close prior to the appraiser’s […].
Mortgage applications recovered slightly from last week , increasing 0.5% for the week ending Feb. 26, 2021 according to the latest report from the Mortgage Bankers Association. A giant dip in applications was reported following the devastating winter storms in Texas the week of Feb. 8, but a week of normalized weather brought numbers back up, according to Joel Kan, MBA’s associate vice president of economic and industry forecasting.
When it comes to property management – and property management companies – a great debate rages on. In some sense, it’s a debate that is as old as the commercial real estate industry itself; a profession that got its unofficial start in the 19th century. (Consider that it was only a few short decades after Founding Father, elder statesman, and successful businessman Benjamin Franklin passed into history.
Many of us throw ourselves into our work because we love it. We love it so much we forget to take regular breaks, but it’s such an important thing to. Read More.
Buying a Home As a Government Employee Are you a government employee preparing to buy a home? The process of buying a new home may sound intimidating. With the right resources, you can ensure a successful investment and one in which you may save tens of thousands of dollars thanks to being a government employee. Let's dive into all of the home buying resources you have when working for the government Our real estate company is based in the state capital of North Carolina, Raleigh.
Appraisers have adjustments for “market conditions” and “sale conditions.” Why not “loan conditions?” There are similarities and differences. This is Part II in this series. Read Part I here Loan Conditions. Market conditions, for any particular market, price levels – trend together. So, appraisers apply ‘time’ adjustments to compensate for this change in ‘market conditions.’ […].
This infographic (below) from The Appraisal Institute has been around for a couple of years now, but I came across it again recently and I think it’s still worth a look, especially if you’re new to the appraisal process. (NOTE: The infographic refers to federal legislation in the US, and some of those laws may […].
The average mortgage rate for a 30-year fixed loan rose 5 basis points last week to 3.02%, marking the first time since July that the industry has seen rates break above 3%, according to Freddie Mac ’s Primary Mortgage Market Survey. Since reaching a low point in January, mortgage rates have risen by more than 30 basis points as the economy works to recover, and according to Sam Khater, Freddie Mac’s chief economist, the impact on purchase demand has been noticeable.
Could we all be living in an episode of The Jetsons someday? Mixed-use development in 2021 may not resemble Orbit City, but commercial builders, architects, and real estate investors are undoubtedly re-engineering the proximity of your personal and professional orbit. Flying cars would be awesome; however, we hope there isn’t a need for tall structures to rise above the smog!
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