Appraisal Buzz

SEPTEMBER 20, 2021

As a southern California property appraiser, each year I attend Valuation Expo , the country’s largest trade show for real estate appraisers. Realtors and Property Appraisers? The post Recap: Valuation Expo 2021 appeared first on Appraisal Buzz. And what does this mean for the economy?

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Appraisal Hub

FEBRUARY 17, 2025

Setting the price without an appraisal is like throwing a dart with your eyes closed. An expert valuation keeps you from second-guessing, helping you price it right the first time. How to Choose the Right Appraisal Firms for Your Property? Not every appraisal company is the same.

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Housing Wire

FEBRUARY 27, 2024

Xactus provides solutions that include credit reporting, online verifications, fraud detection and property appraisal. Recently, Xactus’ valuation solution was approved to fulfill Fannie Mae’s property data collection orders.

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Tenants Valuation Clients Training 444

Housing Wire

DECEMBER 28, 2020

26, 2021 – highlights specifically the benefits and pitfalls of hybrid appraisals, updating the Uniform Appraisal Dataset (UAD) and an increased use of appraisal waivers. The comments we receive will inform how we will modernize appraisals to improve both loan quality and the origination process.”.

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Housing Wire

AUGUST 6, 2024

The guidance also requires lenders to include “a borrower-initiated ROV process meeting certain minimum requirements, including delivery of disclosures to borrowers at loan application and upon delivery of the appraisal with instructions on how to request an ROV.”

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Housing Wire

MARCH 23, 2023

Thursday, March 23 marks the one-year anniversary since the Interagency Task Force on Property Appraisal and Valuation Equity (PAVE) released its action plan to curb instances of bias in the housing appraisal process. Led by U.S. FHFA, along with HUD, [the U.S. Department of Agriculture (USDA) and the U.S.

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Appraisal Buzz

OCTOBER 28, 2024

Through the updates, FHFA and HUD are furthering the work of the Interagency Task Force on Property Appraisal and Valuation Equity (PAVE) , which aimed to evaluate the causes, extent, and consequences of appraisal bias and to establish a transformative set of recommendations to root out racial and ethnic bias in home valuations.

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Housing Wire

APRIL 6, 2023

The White House recently marked the one-year anniversary since the Interagency Task Force on Property Appraisal and Valuation Equity (PAVE) released its action plan to curb instances of bias in the housing appraisal process. housing market in the future.

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Housing Wire

DECEMBER 6, 2021

The new appraiser valued the home at $1.482 million – 49% more than Miller’s valuation. Besides the evidence drawn from the second appraisal, the Austin’s claim that Miller was biased because of the sales comparisons she used in valuing the home. In July, Fair Housing of Northern California filed a complaint with the U.S.

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Housing Wire

DECEMBER 14, 2021

The Federal Housing Finance Agency (FHFA) is the latest stakeholder to examine how racial bias may creep into property valuations. An area was ‘not especially-diverse’ ethnically, with a high percentage of white people,” another appraiser wrote.

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Appraisal Valuation Finance Training 459

Housing Wire

APRIL 21, 2021

In the 30-minute question-and-answer session with Kristy Fercho, MBA’s chair-elect and executive vice president and head of home lending at Wells Fargo , Calabria said his expectations are that by mid-summer, the FHFA would end the flexibilities on collateral valuations unless circumstances force another extension.

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Appraisal Hub

MARCH 20, 2025

These properties arent just valued on location and condition; theyre businesses in their own right. What Really Drives Commercial Property Appraisal? Rental Income: How much does the property generate annually? Market Demand: Are similar properties seeing high occupancy rates, or is the area struggling with vacancies?

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Housing Wire

JULY 11, 2024

That’s because aspiring appraisers allegedly rely heavily on identifying a friend or family member who is already a licensed appraiser to be their mentor. And, per the Bureau of Labor Statistics 2023 data, the property appraisers and assessors’ occupation was 94.7% White and 0.6%

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Housing Wire

APRIL 13, 2021

Jay Garrett, a loan officer at Supreme Lending ’s McClellan Branch in Austin, said he is seeing 10 to 40 offers on houses no matter where they are in Austin, and cash offers are winning the day because sellers don’t want to have to worry about the house appraising too low for someone who needs financing. “If

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Housing Wire

MARCH 3, 2021

Considered the quality control standards for property appraisers, USPAP was adopted in 1987 by a joint group of U.S. and Canadian appraisal organizations – the same groups that eventually created the Appraisal Foundation. Soon after, the Appraisal Foundation took control of USPAP.

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Housing Wire

NOVEMBER 17, 2022

The residential appraisal space has been rocked by increased federal scrutiny over the past two years, with several agencies studying whether appraisers let racial bias change their valuations. In late October, the Federal Housing Finance Agency released 47 million appraisal reports to the public for the first time.

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Housing Wire

JUNE 14, 2022

The Federal Housing Finance Agency released voluminous plans last week developed by Fannie Mae and Freddie Mac to make the housing market more equitable, in part through changes to the appraisal process. According to Freddie Mac’s equitable housing finance plan, it could be the expansion of automated valuation models.

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Cleveland Appraisal Blog

NOVEMBER 11, 2021

However, I believe that they’ve put too much value in their “values” Valuation is not their expertise. My appraiser compadre and fellow blogger Ryan Lundquist, at the Sacramento Appraisal Blog, wrote an excellent piece this week on the situation with Zillow. VALUATION IS NOT EASY OR SIMPLE.

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Housing Wire

AUGUST 28, 2023

These organizations were intended to function as a mortgage industry firewall in the aftermath of the 2008 financial crisis, acting as middlemen between lenders and appraisers and overseeing the logistics of property appraisal processes. AMCs have a tendency to select appraisers who are willing to work for relatively low fees.

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Housing Wire

AUGUST 31, 2023

For example, Class Valuation , one of the nation’s largest AMCs, provides its data collectors with imagery technology that creates a digital twin of the property. This ensures that, even if revisions to the property data collected are needed, no one will have to return to the property for additional data.

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Housing Wire

FEBRUARY 24, 2023

I hear these phrases quite often when it comes to product and software development, but I think they apply very well to solving complex problems like transforming the property appraisal process to work better for every stakeholder. The use of absolute words can sometimes be discouraging to finding iterative solutions.

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Cleveland Appraisal Blog

MAY 26, 2023

Most weeks I perform appraisals for divorce or a marriage dissolution. 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. But then they had to hire me to perform an appraisal. Have a great weekend!

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The Robert Weiler Company

APRIL 20, 2021

Have you watched shows such as Shark Tank or The Profit and wondered how Kevin O’Leary or Marcus Lemonis calculate business valuation? That’s why we surveyed our business valuation experts, captured the 12 most frequently asked questions, and provided answers that can offer the guidance you need. So, how are businesses valued?

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Valuation Business Buyers Market Value 147

D Fritz Appraisals

JANUARY 29, 2025

While assessments and appraisals both provide property valuations, their purpose, methods and impact on homeowners differ vastly. As property values soar and housing accessibility becomes more challenging, understanding the role of these valuations in shaping real estate decisions is more critical than ever.

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Appraisal Valuation Property Taxes Inspection 78

McKissock

MARCH 24, 2022

On March 23, 2022, the Interagency Task Force on Property Appraisal and Valuation Equity (PAVE) released a report entitled “Action Plan to Advance Property Appraisal and Valuation Equity.” Pages 5 and 6 of the report set forth 21 recommendations, termed “Agency Actions to Advance Valuation Equity.”

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Appraisal Buzz

JUNE 20, 2022

Real property appraisers have had quite a bit dumped on them in the past couple of years. The uncertainty, turmoil, and government interest in oversight and intervention caused by allegations of racial and ethnic bias in real property appraisal is cause for concern.

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Housing Wire

JULY 2, 2024

When asked about appraisal satisfaction, 70% of respondents reported being very satisfied with their property appraisal, 23% reported being somewhat satisfied, and 6% were not at all satisfied,” the agencies stated.

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Appraisal Today

SEPTEMBER 27, 2024

By considering the unique aspects of water frontage, local regulations, environmental factors, and property-specific amenities, you can provide credible and comprehensive valuations that reflect the worth of these highly sought-after properties. Staying informed and adaptable will be key to navigating this dynamic environment.

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Housing Wire

MARCH 11, 2021

According to the FHFA, the extended flexibilities include: Alternative appraisals on purchase and rate term refinance loans; Alternative methods for documenting income and verifying employment before loan closing; and Expanding the use of power of attorney to assist with loan closings.

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Lending Appraisal Inspection Property Appraisal 501

Housing Wire

JANUARY 10, 2023

Property Appraisal. I would be remiss not to choose appraisal as the first area that desperately needs action. Automated valuation and underwriting models can and should create efficiency without increasing bias. Let’s explore three areas that exemplify the need for action-oriented behavior.

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Appraisal Buzz

JANUARY 24, 2022

I hold an SRA and AI-RRS, I am an AQB Certified USPAP Instructor, and I also provide valuation, education, and compliance services to various types of clients. In these hybrid cases, the appraiser loses control of the inspection, and has to choose to provide a valuation on something they did not see or inspect.

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Housing Wire

SEPTEMBER 17, 2022

It would also permit lenders to electronically submit, track and manage single-family property appraisals. The FHA at the time said the module would allow the agency to expand its data collection and analysis capabilities. But in February, the agency pushed back the mandatory date to March 14, 2023. No new date has been announced.

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Appraisal Property Appraisal Development Insurance 418

D Fritz Appraisals

JANUARY 5, 2024

Beyond the conveniences of a house, these community features should also be considered when assessing a property’s value. As one of Victoria’s longest-standing appraisal firms, D. Fritz Appraisals Inc. can provide detailed valuations highlighting the community amenities to look for when buying or selling a property.

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Property Appraisal Appraisal HOA Real Estate 115

Realvals

FEBRUARY 10, 2025

The appraiser then weighs all factors to arrive at the appraised value. This figure represents the property’s fair market value. The methodology of this valuation approach is based on the principle of substitution. Role of the Appraiser Appraisers play an important role in real estate transactions.

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Appraisal Hub

SEPTEMBER 24, 2020

If this is your first time selling or leasing a property, there are many appraisal services in Toronto that can help you. Here are commonly used valuation methods to give you an idea of what a property appraiser might use: Value per Unit – This method generally applies to apartment buildings rather than single-unit properties.

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Appraisal Hub

JULY 26, 2024

This is called property valuation. Whether buying, selling, or refinancing a property, a meticulous and professional appraisal is essential to ensure fair market value. What Is Property Valuation? When appraisers visit a house, they find out how much the owner wants to sell for.

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Housing Wire

JANUARY 14, 2022

Finally, we also see a possibility for the introduction of an even broader set of alternative appraisal products that incorporate new technology and processes to further address issues with turn times, racial bias and supply constraints. The topic of racial bias in real estate, and in appraisal, has been a hot one. Racial bias.

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