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How agents are winning bidding wars in America’s most competitive markets

Housing Wire

In the ultra-competitive Westchester market, the odds were stacked against Heather Harrison and her client. and I counseled my client to bid accordingly, waive his mortgage contingency, then we bid $1.45 Prospective buyers need to be armed with as much data as possible about the market they’re targeting.

Agents 501
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VA hikes appraisal fees, turn-times in select markets

Housing Wire

The Department of Veterans Affairs will raise appraisal fees and lengthen allowable turnaround times in select markets across the country in response to high demand for appraisals. The VA said it had taken note of increased market demand in a “seller’s market,” in a notice explaining the increases. “As

Appraisal 482
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The Illogical Reality of Mortgage Appraisal Reviews 

Appraiserblogs

Reforming the appraisal review process is essential to maintaining the integrity of the real estate market and protecting consumers and homeowners. In mortgage financing, the appraisal process is often seen as the foundation of accurate property valuation and market stability.

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From Forms to Reports: A Look at the UAD Overhaul

Appraisal Buzz

By now, most appraisers are aware that Fannie Mae and Freddie Mac (GSEs) have embarked on a complete overhaul of the Uniform Appraisal Dataset (UAD). These codes, or language, make sense to appraisers but confuse uninitiated readers of our reports. Most appraisers have diversity in their business channels.

Appraisal 397
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CFPB, FHFA release updated mortgage originations survey data

Housing Wire

On a quarterly basis since 2014, the FHFA and the CFPB have sent surveys to borrowers who recently obtained mortgage financing. The purpose is to gather feedback on a series of ideas about the market, including consumer experiences of the mortgage process, future expectations and perceptions of the wider market.

Mortgage 431
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Don’t miss the Vanguard Forum at HW Annual Oct. 4

Housing Wire

“The Vanguard Forum convenes at one of the most consequential moments in the history of the modern housing market,” said Clayton Collins, CEO of HW Media. “As This forum brings together the most impactful leaders in housing, all committed to moving the housing market forward,” said Collins.

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Challenging a mortgage appraisal

Annarbor Appraisal

The appraisal does not choose sales based on price, but on similarity to the subject property (with being proximate and recent important as well). Caveat is that sometimes an older sale that is highly similar will be the best indicator, if the adjustments for changing market conditions are analyzed and made.