Appraisal Today

JULY 1, 2023

Lenders Not Using AMCs for Appraisals By: McKissock June 23, 2023 Excerpts: Some appraisers seek alternate ways to find work outside of appraisal management companies (AMCs). Famed Rotating Home in California On the Market for $5.3M My comments: Update from March 2023. It’ll change.“It

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Appraisal Today

JANUARY 5, 2024

Bradley, SRA, CDEI, McKissock Learning On May 5, 2023, the Appraisal Standards Board (ASB) voted to adopt changes to the Uniform Standards of Professional Appraisal Practice (USPAP), which will become effective January 1, 2024. Modern Montauk NY ‘Tree House’ Offers Sweeping Oceanfront Views for $7.5M Excerpts: 4 Bedrooms, 4.5

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Appraisal Today

SEPTEMBER 8, 2023

It’s been on and off the market since 2014, four years after a lengthy construction project there was completed. Still on the market for the same amount in 2015, the eye-popping property ranked as one of the most viewed homes on Realtor.com®. First finished homes projected to be finished in September, 2023.What What Can We Do?

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Appraisal Today

JANUARY 26, 2024

NOTE: Please scroll down to read the other topics in this long blog post on forecasts for mortgage rates, a look back at the 80s a very similar mortgage market, appraising in a changing market, unusual homes, mortgage origination stats, etc. == A Redesigned $48.5M This headline from May 1980 could be written about today’s market.

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Appraisal Today

NOVEMBER 17, 2023

NOTE: Please scroll down to read the other topics in this long blog post on Liability, Bias, reviewers with little experience, GSE modernization, unusual homes, mortgage origination stats, etc. acre lot A spectacular midcentury modern home, cantilevered 16 feet in the air, recently hit the market for $3 million in Oakland, CA.

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Appraisal Today

MAY 17, 2024

I always do market conditions adjustments (or explain why not) and for views and other factors that significantly add to value. Not for a number, but about marketability. Originally hitting the market in 2022 for $72 million, the estate has seen various price decreases since then. I use Excel and MLS data. baths, 45,000 sq.ft.,

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Appraisal Today

JULY 28, 2023

by Dave Towne Excerpts: Appraisers, on July 17, 2023, a document from Freddie Mac was circulated to numerous appraisers around the US which identified certain words and other info that can be considered to be ‘BIASED’ in appraisal reports. I wrote about the July 17 Freddie announcement in this newsletter’s June 16, 2023 issue.

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Appraisal Today

AUGUST 4, 2023

As with all banned words, Freddie’s list will lead to the need to ban additional words over time as appraisers, expunging the word “desirable,” will find synonyms when analyzing market reaction to the views of two homes or to the cul-de-sac location of a home versus the midblock location of a comparable.

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Appraisal Today

APRIL 26, 2024

However, there are six other types of real estate transactions that you need to know about so you can specify these sale types in your appraisal report as they can affect the market value of the property. Therefore, the final price may not reflect the market value of the property. What should appraisers look for in a sales contract?

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Appraisal Today

JUNE 16, 2023

Freddie Mac Announcement: “Loan Collateral Advisor: Starting June 29 New Messages Alert Users to Certain Unacceptable Appraisal Practices,” April 28, 2023) To read, click here So, if we have the technology and tools to present our conclusions in clearer, fact-based ways, let’s get ahead of the program and make the changes proactively.

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Appraisal Today

JULY 7, 2023

Everything has been fully modernized. To read more and see lots of photos, click here == Market Cycles, Airbnb?, Doom and Mental Health June 28, 2023 By Ryan Lundquist Excerpts: A meme I shared this week as I talked about the concept of a forever home. Housing markets are like my waist line.

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Appraisal Today

JANUARY 20, 2023

Spend hours writing volumes of supporting documentation to justify the market value of a property you already decided on when you pulled into the driveway. What is happening in your market? You may need to call agents to see the amount of concessions offered and make an adjustment based on its effect on market value.

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Appraisal Today

AUGUST 18, 2023

I have lots of practical tips and marketing advice. If you are a paid subscriber and did not get the August 2023 issue emailed on Tuesday, August 2, please email info@appraisaltoday.com , and we will send it to you!! August 16, 2023) — Mortgage applications decreased 0.8 Or hit the reply button. million price tag.

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Appraisal Today

NOVEMBER 10, 2023

addition in 2011 expanded its footprint and modernized its features also adding a 4-car garage. To better understand this effect, in the first quarter of 2023 we asked homeowners via our National Housing Survey® if they planned to stay longer in their current homes than originally intended and, if so, why. per month, $24.75

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Appraisal Today

APRIL 19, 2024

NOTE: Please scroll down to read the other topics in this long blog post on non-lender appraisals, forms to reports modernization, AMCs, earthquake risk, unusual homes, mortgage origination stats, etc. == == Rare Coastal Contemporary Manchester, MA, for $9M Excerpts: 5 bedroom, 4.5 Very easy marketing – letters or post cards.

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Appraisal Today

APRIL 5, 2024

Upon arrival, you’re greeted by a lavish motor court leading to timeless modern architecture. February 2024 marked a dynamic period in the housing market, presenting opportunities and challenges for real estate appraisers. Appraisers should consider the potential impact, especially in markets with significant new construction.

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Listing Spark

AUGUST 23, 2023

In Dallas, the median home price in Q1 of 2023 was $372,400; the Austin market saw median house prices reach $467,900 at the same time. Many homeowners are starting to consider selling their homes as For Sale by Owner (FSBO), and the market is changing along with this trend. Some buyers’ agents may not prefer FSBOs.

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Appraisal Today

FEBRUARY 9, 2024

also clarifies when appliances are required to be operational by stating, “Appliances that are to remain and that contribute to the market value opinion must be operational,” and, “The Appraiser must note all appliances that remain and contribute to the Market Value.” Acre lot, built in 2023 as a spec home. FHA Handbook 4000.1

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Appraisal Today

OCTOBER 13, 2023

If you say the market is stable, perhaps you add a sentence or two to expound on that. And in 1992, this daring design was purchased and transformed into a single-family home, which recently hit the market for $25 million. It’s quite amazing how the midcentury modern style has endured, persisted, and reemerged.

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Appraisal Today

MAY 26, 2023

NOTE: Please scroll down to read the other topics in this long blog post on appraisal “modernization”, bias hearing, bad appraiser, USPAP, unusual homes, mortgage origination stats, etc. == Appraiser pleads guilty in $1.3B Some appraisers feel that lenders should not provide them with the purchase and sale contract.

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Appraisal Today

OCTOBER 27, 2023

I’m always looking for something new ;> If you are a paid subscriber and did not get the October 2023 issue emailed on Monday, October 2, please email info@appraisaltoday.com , and we will send it to you!! Gavin Newsom has signed into law Assembly Bill 1033 on October 11, 2023. AMCs require no marketing to get on the list.

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Appraisal Today

NOVEMBER 24, 2023

The most recent E&O issue is July 2023, available to paid subscribers. Click here for more info If you are a paid subscriber and did not get the November 2023 issue emailed on Wednesday, November 1, please email info@appraisaltoday.com , and we will send it to you!! November 22, 2023) — Mortgage applications increased 3.0

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Appraisal Today

FEBRUARY 16, 2024

This article provides an insight into the appraisal process of historical properties, emphasizing the role of market data, potential buyers, specialized databases, appraisal methods, and the significant impact of preservation restrictions. You need to know the market. in October 2023. Worth reading. A good summary. ” 5.

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Appraisal Today

SEPTEMBER 29, 2023

Today, they are becoming popular to get extra rentals in markets low on housing. And many appraisers who only know how to do mortgage lending assignments are reluctant to market themselves outside that confined space. Some types of non-lender appraisals have little competition, and marketing can be done quickly.

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Appraisal Today

JANUARY 27, 2023

Appraisal Changes By Dan Bradley Excerpts: On January 18, 2023, HUD issued an announcement regarding revisions made to Handbook 4000.1. The changes outlined in the Handbook may be implemented immediately but must be implemented for FHA cases assigned on or after April 18, 2023. FHA Handbook 4000.1 How much do appraisers contribute?

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Appraisal Today

DECEMBER 23, 2022

The market conditions are atypical. In this case, unique market conditions increase the complexity of the appraisal. There is no market for the house; no sales are occurring for some reason (e.g., If you’re going to go for an unusual look, make it easy to undo before putting your home on the market. Mile Racetrack.

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Appraisal Today

MAY 19, 2023

I have been reading about using Chat GPT for appraisal marketing and narrative reports, but this is the first I have read about form reports. The Most Expensive Home in South Carolina’s History Hits the Market for $22M Located in Simpsonville, SC, the 16,000-square-foot home sits on a sprawling 54 acres designed for the horse lover.

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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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Appraisal Today

APRIL 21, 2023

The most successful real estate professionals generate leads from their personal and professional networks, ensuring a full sales pipeline without spending a fortune on marketing. The Market Composite Index, a measure of mortgage loan application volume, decreased 8.8 Here’s how to get referrals for your appraisal business.

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Appraisal Today

SEPTEMBER 1, 2023

. = Tiny Price and Hilarious Description Trigger Dozens of Offers on Michigan Home Pending Sale Excerpts: The $1 list price is a real attention grabber, but the comically candid description of “the world’s cheapest home”—on the market in Pontiac, MI—steals the show. August 30, 2023) — Mortgage applications increased 2.3 percent from 7.27

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Will Springer Realtor

OCTOBER 11, 2022

Seriously though, there must be a ceiling to rising rates that have all but extinguished a robust housing market. I’m not going to answer that – my crystal ball is broken – but if some economists had their way, it would be a definite possibility for 2023. in 2023 for single-family homes. from today’s U.S. figure of 8.3%.

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Appraisal Today

FEBRUARY 24, 2023

Some local markets and some appraisers are still fairly active. The variance between local markets and individual appraisers is stark. In the early 1990s, my market crashed. The January 2023 issue of Appraisal Today had “Book Review – Identifying Residential Architectural Styles by Marc Nadeau.” Budget cuts. Retraction.

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Listing Spark

JANUARY 22, 2024

In the first quarter of 2023 alone, real estate investors flipped 72,960 homes. In the real estate investment market overall, activity remains high and profitable—even reaching measurably above pre-pandemic levels. For both new and experienced real estate investors, this bodes well for the 2024 market.

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Appraisal Today

NOVEMBER 20, 2022

Failure to make appropriate time/market adjustments (positive or negative). FNMA indicates that their 2022 lending volume is down 47% from 2021 and is expected to drop by another 50% in 2023. What to Expect in 2023 from the Mortgage Industry – MBA Annual Recap. Using only a single approach to value. Incorrect land values.

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Listing Spark

SEPTEMBER 27, 2023

Every industry is undergoing market pressure—and market opportunity—from automation and more comprehensive software solutions. Then, we’ll look at the most crucial types of property investment software you’ll need to have so you can continue to thrive as the markets shift.

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Will Springer Realtor

MAY 13, 2024

In March 2023, we had an undersupply of 1.7M Baby Boomers still have a significant impact on various aspects of society, including the housing market, healthcare and the economy. home sales in 2023, the highest level since 2014. We are now experiencing historic shortages. But for how long? fewer Boomer households in the U.S.,

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Appraisal Today

MAY 5, 2023

NOTE: Please scroll down to read the other topics in this long blog post on Appraisal Institute President, non-lender appraisals, Changing state appraisal laws, Fannie modernization, unusual homes, mortgage origination stats, etc. Marketing is very easy with fast results. Good opportunity for residential appraisers. CDT on May 5.

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