Housing Wire

JANUARY 18, 2023

The quickest way to ensure a faster appraisal process is going to be to learn how to work with valuation providers as partners in the process rather than the way most appraisers feel, adversaries. There are several ways we can do that from how we allocate orders, set fee schedules, and handle reconsiderations of values.

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McKissock

NOVEMBER 16, 2021

With rapid price growth and price bidding wars in hot real estate markets, an increase in appraisal appeal requests is likely. To help you out, we’ve put together some practical information to strengthen your responses to a mortgage lender’s appraisal appeal, called a reconsideration of value (ROV).

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Appraisal Today

MAY 10, 2024

ROV (Reconsideration of Value) Changes – FHA and GSEs GSE Effective date is August 29, 2024 HUD Effective date is September 2, 2024 Editor’s note: This long section includes, In order: McKissock/Dave Bradley post with a good summary including links to HUD and GSE documents. For appraisers, Section II.D.2.

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Housing Wire

JANUARY 24, 2022

“Until recently … the appraisal industry seems to have escaped the type of regulation and scrutiny faced by other participants in the mortgage market,” the authors wrote. Appraisal complaints are most often made directly to the lender, when a borrower asks for a reconsideration of value.

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Housing Wire

JANUARY 3, 2023

I do believe there are issues in rural markets that lead to lengthy delays that are difficult for homebuyers in a normal functioning market, but what about the burden of proof? However, in several rural markets there is failure to meet this standard as appraisers may not even accept the order for weeks.

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Appraisal Buzz

FEBRUARY 7, 2022

The markets perceived no additional risk in transactions where the appraiser signing off on the valuation of the collateral being utilized for a credit decision did not physically inspect the property. Additionally, there was a healthy dose of government stimulus involved to ensure there would be no disruption in the capital markets.

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Clear Capital

OCTOBER 7, 2024

We’re excited to share some important updates regarding the Reconsideration of Value (ROV) process. Ensuring accurate valuations and timely responses to ROVs not only supports compliance but also enhances trust and transparency in the appraisal process. As appraisers, your role is critical in upholding these standards.

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Cleveland Appraisal Blog

SEPTEMBER 10, 2022

Andrea Gibbs is the Content Manager at SpringHive Web Agency , a company that offers web design services, maintenance, and Internet marketing. She specializes in content marketing, social media, and SEO. Reconsideration of Value and Appraisers – APPRAISAL TODAY. Author bio. Is the Sun Setting on High Prices?

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Appraisal Buzz

JULY 17, 2024

Meanwhile, several looming threats could potentially pull out the cushion completely, including rising “hidden” homeownership costs of insurance and property taxes in many markets, rising delinquency rates for consumer debt such as credit cards and auto loans, and falling values and rising defaults in segments of the commercial real estate market.

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McKissock

DECEMBER 28, 2021

Appraisers recently contacted by McKissock tend to agree that the profession will go generally well in 2022, with no major changes to the real estate market and no events on the horizon that could seriously upset appraisers’ business. Housing market trends for 2022. So, many markets may cool off.”. Tampa, Fla.),

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Town & Country Residential Appraisals

OCTOBER 21, 2024

It’s called a Reconsideration of Value (ROV) , and it’s a tool that can save the deal, reduce buyer stress, and make real estate agents look like heroes. It’s pretty simple: Submit the request : The buyer (through their lender) requests the appraiser to reconsider their valuation. For agents, you’re key to making this happen.

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Portland Appraisal Blog

APRIL 14, 2019

All the work getting the property ready for listing, the extensive marketing, the numerous showings, the sometimes tedious offer evaluations has paid off. Usually this is done via a document known as a “reconsideration of value” (ROV for short). What is a Reconsideration of Value? That’s not the case here.

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McKissock

JUNE 22, 2021

Job aid: Big Box Retail Valuations. Job aid: 16 Current Events That Point to a Declining or Increasing Real Estate Market Trend. In general, it is difficult to recognize a bubble market while it is in progress. In general, it is difficult to recognize a bubble market while it is in progress.

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Annarbor Appraisal

SEPTEMBER 6, 2020

The appraisal is for their benefit, but at the same time, the appraiser needs to complete a fair and supportable valuation. There should never be any bias in favor of any party, or value. When a sale is involved, the valuation may be lower than contracted price. Lenders offer a formal “Reconsideration of Value” (ROV) process.

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Appraisal Today

JULY 26, 2024

Market Conditions Analysis Market conditions analysis is the backbone of an appraisal. This analysis is the study of market area conditions and the changes in price levels over time… It’s important to note from a development perspective that market conditions must be analyzed on every appraisal assignment.

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Birmingham Appraisal

FEBRUARY 20, 2024

While agents and appraisers cannot discuss value we can talk about the property and why they may have priced it at what they did. One tool the agent uses to price the property is the Comparative Market Analysis or CMA, and by sharing this with the appraiser they can better understand what went into the agent’s pricing strategy.

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Appraisal Today

AUGUST 9, 2024

Market Value and Appraised Value: Exploring Various Appraisal Values By Jo Traut Excerpts: You’ve probably been asked about the difference between “market value and appraised value” by clients seeking a mortgage. We don’t provide an appraised value of a property.

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Birmingham Appraisal

MARCH 26, 2025

List a home too high, and it sits on the market, developing a stigma that can lead to lowball offers. To get it right, many agents rely on a Comparative Market Analysis (CMA), but appraisers take this process a step further by applying specific guidelines when selecting comps (appraisal comparable).

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Appraisal Today

NOVEMBER 4, 2022

Reconsideration of value and Appraisers. Excerpts: As residential property prices plateau or decline in various markets and as borrowers have financial problems with fewer financing options, there are more legal claims being filed by borrowers against appraisers and lenders in relation to appraisals for loans made in recent years.

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Birmingham Appraisal

SEPTEMBER 15, 2022

Banks are typically absolved from discrepancies between the amount they lend and the true market value of the home meaning that they will not be held responsible to the buyer. There is always the possibility that the appraisal value is less than the contract price. Appraisal vs Home Inspection.

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Appraisal Today

APRIL 5, 2024

Lanham, 20/20 Valuations, and loanDepot.com, U.S. They alleged that the appraiser had taken into account their race in his valuation of their home in violation of the federal Fair Housing Act and other laws prohibiting discrimination. District Court, Maryland. Connolly and Mott and for loanDepot.com filed a settlement with the court.

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Appraisal Today

APRIL 7, 2023

NOTE: Please scroll down to read the other topics in this long blog post on ROVs, non-lender appraisals, appraisal business, unusual homes, mortgage origination stats, etc. == Amazing Guitar-Shaped House in Georgia Currently off market. Was listed for $748,000 in 8/22. Needs lots of work 4 bed 3 bath 2,818 square feet, 2 acre lot.

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Appraisal Today

JULY 12, 2024

It’s not just about acquiring designations but staying informed about market dynamics, industry changes and emerging trends. I had never taken a class in economics, marketing, data analysis, financial analysis, etc. Specifically, the 1007 calls for the “Indicated Monthly Market Rent.”

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Housing Wire

MARCH 9, 2021

The Department of Housing and Urban Development (HUD) has announced that JPMorgan Chase has come to an agreement with a Black homeowner who claimed the bank’s mortgage division – relying on a valuation done by an appraiser – valued her home at an amount lower than its actual worth because of her race.

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Appraisal Today

FEBRUARY 23, 2024

I also have some market recap visuals to unpack what’s been happening in 2024 so far. The truth is there are portions of 2021 and 2022 where prices are exactly the same as today too, so if I use an older comp, I don’t always need to adjust for the way the market has changed. Market conditions is the easiest adjustment to make.

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Housing Wire

AUGUST 29, 2022

We wanted the lender and broker community to know we were never taking advantage of the market. A lot of our initial growth in the last few years came from markets where many AMCs prefer not to work. SW: Did you already have deep connections in those rural markets or did you have to go out and find those people?

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Appraisal Buzz

JANUARY 17, 2025

With steadfast leadership, HUD and the Biden-Harris Administration were able to make a real difference, even as we faced considerable headwinds in the housing market. During our time at HUD, weve ensured thousands more families can afford rent thanks to the record number of housing vouchers we fundedthe most in 20 years.

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Housing Wire

JUNE 2, 2023

On the heels of a Thursday announcement by six federal agencies unveiling a proposed rule that would implement quality control standards that govern the use of automated valuation models (AVMs), Vice President Kamala Harris weighed in. In addition, the proposed rule expressly includes a nondiscrimination quality control standard.”

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Appraisal Buzz

JANUARY 13, 2025

While the basic approach involves the valuation of properties using comparable sales, the proper use of statistical tools, such as a correlation matrix, can significantly enhance the quality and objectivity of the appraisal process. In other words, they must objectively have the same highest and best use as the subject property.

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Appraisal Today

MARCH 21, 2025

The Hidden Risks of Appraisal Waivers: What Homebuyers and Homeowners Need to Know Palm Desert California Home With Its Own Shark Tank Hits the Market for $59 Million Relocation Appraisals: The Power of Market Analysis NFHA (National Fair Housing Alliance) Rescinds Multiple Appraisal Related Policies Funding Dries Up.

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Appraisal Today

MARCH 14, 2025

The March 2025 issue of Appraisal Today has a very comprehensive article for appraisers: Can you use the assessors assessment values for site valuation, by Tim Andersen, MAI. What happens to the housing market during a recession? Anything else you are watching in the market right now? But other times they dont.

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Housing Wire

DECEMBER 23, 2024

The foremost was using comparable home sales (comps) from a predominantly black neighborhood outside of the recommended radius to inform the homes valuation, rather than from the largely white neighborhood of the residence allegedly because the homeowner who requested the appraisal was black herself.

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