Housing Wire

JUNE 9, 2021

This allows for a more objective analysis and better compliance, and often translates to a more efficient process with faster turn times, which allows buyers and sellers to transfer real property more cost effectively and with confidence. HW: What are some of the current challenges regarding property tax assessment?

Appraisal 418

Appraisal Property Taxes Valuation Technology 418

Housing Wire

APRIL 27, 2021

“However, we must not lose sight that structural biases within the broader marketplace and among all stakeholders within real estate and lending continue to play significant roles that impact the realities of the real property market.”. A 2018 study from the Brookings Institute found that in the average U.S.

Appraisal 397

Appraisal Valuation Design Real Estate 397

Housing Wire

MARCH 31, 2022

WFG National Title Insurance Company (WFG) is a wholly owned subsidiary of Williston Financial Group and a national title insurance underwriter dedicated to taking time and cost out of real estate transactions.

Real Estate 418

Real Estate Human Resources Technology Clients 418

Housing Wire

DECEMBER 7, 2023

It’s causing us in the industry — title settlement, real estate, mortgage lending, the attorneys — to rethink, can you even trust a voicemail? And then they will impersonate the property owner. And they solicit a listing to a brokerage: the real estate agent takes the listing and asks for an ID, which checks out.

Real Estate 476

Real Estate Sellers Technology Real Estate Agent 476

Appraisal Buzz

FEBRUARY 10, 2025

Since HOBRs enactment in 2013, the private lending industry has looked for a solution to this obvious unintended oversight by the California Legislature. The Little Guys exception to the more detailed requirements was limited in Civil Code 2924.15

Law 221

Law Investors Legal Real Property 221

Cleveland Appraisal Blog

AUGUST 25, 2022

When you’re about to buy your first real property outside of your primary residence, you should know whether you’re going into it with the intention of renting or if you want to flip and make an immediate profit. This means on a $250,000 property, you’ll have to have a minimum of $37,500 in cash for the banks to even consider a loan.

Investing 337

Investing Renovations Landlords Real Estate 337

Simonson Real Estate

JULY 10, 2020

An appraisal is an objective, impartial, and unbiased opinion about the value of real property prepared by a State Licensed or Certified professional appraiser. Appraisers assemble a series of facts, statistics, and other information regarding specific properties, analyze this data and develop opinions of value. Value Scenarios.

Appraisal Process 148

Appraisal Process Appraisal Market Value Tenants 148

DataMaster

JUNE 15, 2023

. — also known as short-term rentals (STRs) — to claim STR income as part of the borrower qualifications side of the lending decision. However, the GSEs did not make a parallel change to the property qualification side of the lending decision. This is creating significant friction in the lending environment.

Appraisal 148

Appraisal Tenants Investors Business 148

Appraiserblogs

MARCH 8, 2021

Advisory Opinion 16 is Fair Housing Laws: Avoiding Bias in Real Property Appraisal and Appraisal Review Development and Reporting. The Appraisal Foundation has issued an exposure draft for Advisory Opinion (AO) 16. Unlike other exposure drafts, the text of the AO opinion has been rewritten.

Law 101

Law Property Appraisal Appraisal Real Property 101

Cleveland Appraisal Blog

JANUARY 19, 2023

Some banks are willing to lend on these types of properties, while others are not. Are homes like this common in the area? Those are important questions to consider when determining how to value a home like this one. What about financing? Many times these homes are paid for in cash or are transferred to relatives in private transfers.

Appraisal 288

Appraisal Transportation Buyers Property Appraisal 288

McKissock

DECEMBER 28, 2021

It’s likely that the task force’s recommendations will be adopted by most of the major players in the residential mortgage lending arena. Over the past several years, the single largest source of business for real property appraisers has been residential mortgage lending, specifically mortgage refinances.

Appraisal 96

Appraisal Reconsideration of Value Real Estate Property Appraisal 96

Simonson Real Estate

SEPTEMBER 16, 2021

The appraiser’s role is to provide arm’s length, third-party, neutral, and impartial opinions about the value of a real property and provide assistance to those who own, manage, sell, invest in, or lend money on real estate. As appraisers’ we assemble facts, statistics, and other information on a specific property.

Appraisal 78

Appraisal Appraisal Process Real Property Real Estate 78

Simonson Real Estate

JUNE 16, 2021

The role of the appraiser is to provide objective, impartial, and unbiased opinions about the value of real property—providing assistance to those who own, manage, sell, invest in, and/or lend money on the security of real estate.

Appraisal 78

Appraisal Real Estate Appraisal Process Real Property 78

The Robert Weiler Company

SEPTEMBER 30, 2020

As per the above list, there are several motives for a commercial real estate appraisal review; however, what does a real-world scenario look like? Two of the best examples occur when there is lending involved or litigation pursued. Grant Applications. A commercial appraisal review can be as significant as the appraisal itself.

Real Estate 137

Real Estate Appraisal Valuation Property Appraisal 137

DataMaster

MARCH 17, 2021

This Opinion addresses Fair Housing Laws: Avoiding Bias in Real Property Appraisal and Appraisal Review Development Reporting. With two weeks to go until the deadline for comment submissions, we urge all appraisers to make their voice heard. Advisory Opinion 16. Advisory Opinion 16 made its debut in USPAP’s 1997 edition.

Appraisal 141

Appraisal Inspection Property Appraisal Law 141

The Robert Weiler Company

JANUARY 2, 2021

The contract is essentially a seller-financed lending agreement for the purchase of a property, which requires the buyer to pay monthly installments until a balloon payment is due. Otherwise, you risk defaulting on your loan and losing your car to the bank or lending institution that financed the vehicle.

Contracts 143

Contracts Tenants Legal Sellers 143

Town & Country Residential Appraisals

MARCH 27, 2023

Moving it would mean it wasn't attached to a permanent foundation and therefore, is viewed more as personal property and not real property. Additionally, the manufactured home must be a one-unit dwelling that is legally classified as real property and cannot include an accessory dwelling unit.

Finance 56

Finance Real Property Legal Buyers 56

McKissock

NOVEMBER 15, 2022

From accusations of bias or discrimination to failure to disclose significant real property appraisal assistance, it can be really alarming if a licensing board reaches out and notifies you of a complaint. Failure to analyze the sales history of the subject property. Failure to analyze the current pending purchase agreement.

Appraisal 80

Appraisal Property Appraisal Real Property Insurance 80

DataMaster

JUNE 15, 2023

. — also known as short-term rentals (STRs) — to claim STR income as part of the borrower qualifications side of the lending decision. However, the GSEs did not make a parallel change to the property qualification side of the lending decision. This is creating significant friction in the lending environment.

Appraisal 78

Appraisal Tenants Investors Business 78

McKissock

OCTOBER 5, 2021

The Foundation is pleased to once again partner with McKissock to develop online versions of the real property 2022-2023 7-Hour National USPAP Update Course. This is the 12th year that McKissock Learning has been the exclusive provider of The Appraisal Foundation’s national online USPAP update course.

Appraisal 78

Appraisal Tools Development Real Property 78

Appraisal Partners Blog

JANUARY 31, 2024

In the ever-changing re­alm of real property, knowing the e­xact worth of your property plays a significant role. However, the appraisal of residential property involves several detailed steps and considerations. In the­ same way, it shields buyers from paying more than the property’s actual value.

Appraisal 78

Appraisal Property Appraisal Market Value Real Estate 78

Simonson Real Estate

DECEMBER 6, 2022

Having worked with many different lending institutions completing new construction and planned renovation assignments, think of this article as a “best practices” reference to be shared with new lenders, credit analyst team members and borrowers navigating the commercial appraisal process for the first time.

Appraisal Process 78

Appraisal Process Real Estate Appraisal Renovations 78

DataMaster

MARCH 17, 2021

This Opinion addresses Fair Housing Laws: Avoiding Bias in Real Property Appraisal and Appraisal Review Development Reporting. With two weeks to go until the deadline for comment submissions, we urge all appraisers to make their voice heard. Advisory Opinion 16 Advisory Opinion 16 made its debut in USPAP’s 1997 edition.

Appraisal 78

Appraisal Inspection Property Appraisal Law 78

DataMaster

MARCH 17, 2021

This Opinion addresses Fair Housing Laws: Avoiding Bias in Real Property Appraisal and Appraisal Review Development Reporting. With two weeks to go until the deadline for comment submissions, we urge all appraisers to make their voice heard. Advisory Opinion 16. Advisory Opinion 16 made its debut in USPAP’s 1997 edition.

Appraisal 78

Appraisal Inspection Property Appraisal Law 78

Empire Appraisal Group

JULY 28, 2022

Other government lending institutions (Freddie Mac, FHA, VA, and Rural Housing) indicate that they’ll accept the ANSI standard, but it’s unclear if they’ll accept Fannie Mae’s protocol when there are portions of the property that are used as living space but aren’t classified as living space under ANSI.

Appraisal 78

Appraisal Agents Valuation Realtors 78

Empire Appraisal Group

AUGUST 12, 2021

The agencies involved in residential lending—Fannie Mae, Freddie Mac, the Department of Veterans Affairs, and the Federal Housing Administration—have slightly varying definitions of gross living area, but all agree on these facts: Gross living area is the finished, above-grade residential area. St Petersburg, Fla.,

Sellers 78

Sellers Appraisal Development Construction 78

McKissock

FEBRUARY 23, 2021

This course focuses on the common elements between divorce and estate appraisals, with primary emphasis on how they are different from standard mortgage lending appraisals. It covers form differences, USPAP issues, and assignment conditions. “This is a great class for anyone doing non-lender work!

Appraisal 52

Appraisal Inspection Development Design 52

McKissock

JULY 24, 2020

This is a good first step because you would be surprised at the number of complaints that are filed with appraisal regulatory agencies where the complaint is filed against a lending institution, for example, and the appraisal regulatory agency doesn’t have jurisdiction. It has been updated slightly. Written by Dan Bradley.

Appraisal 53

Appraisal Law Government Real Estate Agent 53

Appraisal Today

JULY 12, 2024

At the center lies this crucial inquiry: Are only essential requirements included in the Real Property Appraiser Qualification Criteria? The 1007 was not designed for appraising single-family properties that are used as STRs. In response, the AQB has recognized that this request is just one aspect of a broader inquiry.

Appraisal 71

Appraisal Design Contracts Business 71

Appraisal Today

SEPTEMBER 20, 2024

percent from one week earlier Appraised Value Vs. Sale Price Excerpts: Property sellers often ask professionals who are performing appraisals for mortgage lending, “Why is an appraisal even needed? With over 16,000 members, AI is the largest real property professional association. It happened once with Cindi Chance.

Appraisal 77

Appraisal Business Contracts Real Estate 77

Appraisal Today

SEPTEMBER 1, 2023

If the appraisal is for lending purposes, be sure to find out if it is “lendable” before spending much time on it. As a side note, after much ado — the real property Standard 1 has only one word change in five years.) The one below with a jail is a good example! Down the page is a $1 listing.

Appraisal 82

Appraisal Contracts Mortgage Real Estate 82

Housing Wire

APRIL 27, 2022

Although the lesser of the two government-sponsored enterprises by size, Freddie Mac was alone in committing to purchasing manufactured homes not titled as real property, or chattel loans, a key item affordable housing advocates had sought. Freddie Mac also recently preempted its larger counterpart on targeted lending programs.

Finance 397

Finance Real Property Government Mortgage 397

Appraisal Today

NOVEMBER 20, 2022

FNMA indicates that their 2022 lending volume is down 47% from 2021 and is expected to drop by another 50% in 2023. From accusations of bias or discrimination to failure to disclose significant real property appraisal assistance, it can be really alarming if a licensing board reaches out and notifies you of a complaint.

Appraisal 52

Appraisal Real Estate Agent Real Estate Contracts 52

Housing Wire

MAY 25, 2022

Instead, they have opted to finance manufactured homes that more closely resemble site-built homes, are titled as real property and cost much more. Freddie Mac has sought to educate borrowers on options to convert chattel financing to real property. Could the same logic be applied to chattel loans?

Finance 448

Finance Supply Chain Tenants Real Estate 448

Housing Wire

NOVEMBER 30, 2023

Real Estate Law: Covers Real Estate Law and Legal areas Impacting real estate professionals Examine the law of agency as applied to real estate brokers and sales personnel, law of fixtures, estates, mortgages and liens, OH license laws of Ohio, zoning & more.

Real Estate 448

Real Estate Real Estate Agent Law Inspection 448

Appraiserblogs

JUNE 22, 2021

In the past year, the appraisal industry has been under attack from various academics who claim “racial bias” on the part of real property appraisers providing appraisal services to lenders who provide home mortgages.

Real Estate 177

Real Estate Appraisal Valuation Training 177

Appraisal Today

SEPTEMBER 9, 2022

Standards Rule 1-5 in the Uniform Standards of Professional Appraisal Practice (USPAP) states that when appraising a real property, an appraiser must: (a) reconcile the quality and quantity of data available and analyzed within the approaches used; and. (b) Is there room for more improvement?

Reconsideration of Value 52

Reconsideration of Value Appraisal Clients Contracts 52