Simonson Real Estate

AUGUST 24, 2020

This allows us to continue to deliver well-reasoned and credible appraisal reports. Our adaptive, hassle-free and convenient appraisal process will provide you with the confidence to make the right business decision for your needs, no matter what the market is doing. We had a great discussion! Contact him today!

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Housing Wire

JANUARY 19, 2022

To be eligible for a desktop appraisal, according to Fannie Mae , the loan must be a purchase transaction, secured by a one-unit principal residence and have a loan-to-value ratio of no more than 90%. FHFA suggested that hybrid appraisals could also speed up the appraisal process and reduce costs.

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Appraisal Inspection Appraisal Process Property Taxes 414

Appraisal Buzz

MAY 9, 2022

The American Institute of Architects has estimated that 9% of “Custom Built” homes being constructed in the United States are of log home construction. Log Homes have an average construction cost of $450,000 per unit, which means that the Log Home Industry is a multi-billion dollar a year industry.

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Valuation Legal Construction Appraisal 396

Appraisal Buzz

JULY 5, 2021

Everything from neighborhood sales to unique weather conditions plays a role in the appraisal process. And with rapidly developing communities, paying closer attention than ever before could play a role in more timely and accurate appraisals. Specifically, construction labor is in short supply.

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Appraisal Real Estate Construction Appraisal Process 370

Appraisal Buzz

SEPTEMBER 5, 2022

Communication took on many forms, including development of written documents stating client reporting requirements, utilizing technology platforms to increase transparency throughout the appraisal process, and developing feedback to the appraiser on appraisal submissions. Complexity in Process and Properties.

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Appraisal Modernization Appraisal Process Technology 281

Appraiserblogs

OCTOBER 4, 2022

The possible exception to this are highly dense urban developments where the new construction homes are cookie cutters, and the builder sells. Many of you are aware that the GSE’s are in the process of evaluating the entire appraisal process, including the…. Related Posts: What's Happening With the New Forms?

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Appraisal Process Lending Appraisal Construction 120

Chicagoland Appraisal Blog

AUGUST 1, 2023

It provides an overview of the appraisal’s purpose, important findings and the opinion of value. The letter may also specify any limitations or assumptions made during the appraisal process. Subject Section This section identifies the physical address of the property being appraised.

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Appraisal Legal Construction Appraisal Process 148

McKissock

JANUARY 31, 2023

As part of our Question of the Month survey series, we asked members of our appraisal community, “What’s one thing you wish real estate agents knew about the appraisal process?” Thank you to the large number of appraisers who shared their input! Appraisers make adjustments based on this information.”

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Real Estate Agent Real Estate Agents Appraisal 97

Housing Wire

DECEMBER 8, 2023

Should they consider new construction? Guide them through escrow Once you’ve won the offer, help your clients through the contingencies, inspections, the appraisal process and the final walk-through. Are they in a situation where they can compete for a home if necessary? Should they buy first or sell first?

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Clients Real Estate Inspection Buyers 383

Simonson Real Estate

SEPTEMBER 16, 2021

New construction or planned renovations – Actual construction cost statements, plans, material specifications, etc. What is a Standard Turn-around Time for a Commercial Appraisal? Providing an in-depth and accurate appraisal report can take many hours to complete. Navigating the Appraisal Process – What You Need to Know.

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Appraisal Appraisal Process Real Property Real Estate 78

Housing Wire

FEBRUARY 8, 2022

Loans for second homes, investment properties, cash-out refinances, construction loans, multi-unit properties, renovation loans, condos, co-ops or manufactured homes are not eligible. Any loan application flagged as ineligible by Fannie Mae’s automated underwriting system will have to use a traditional appraisal. “If

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Appraisal Appraisal Process Valuation Renovations 363

Birmingham Appraisal

NOVEMBER 8, 2022

Because so many people have asked me, “What does a real estate appraisal include?” Appraisal Process. The appraisal process consists of the appraiser visiting the property to collect information to help them complete the report.

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Real Estate Appraisal Appraisal Process Construction 87

Appraisal Hub

FEBRUARY 15, 2024

These appraisals are more complex, considering factors such as revenue generation, operating costs, tenant contracts, and market position. Physical Inspection: A thorough inspection of the property to assess its condition, quality of construction, and any features that may affect its value.

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Real Estate Appraisal Appraisal Process Inspection 78

McKissock

DECEMBER 10, 2021

Plus, what will it take to modernize the appraisal process? Read on for this week’s appraisal news and insights. ” Read the full forecast to learn about Redfin’s predictions regarding mortgage rates, supply and demand, new construction, home price growth, and more. Petersburg-Clearwater, Florida.

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Housing Market Appraisal Marketing Appraisal Process 79

Birmingham Appraisal

SEPTEMBER 21, 2022

You may have heard of an appraisal inspection but what is a final inspection? Keep reading to find out the “second part” of the appraisal process for certain types of appraisals. For many types of appraisals, there is only one inspection or observation as we like to call it.

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Final Inspection Inspection Construction Appraisal 81

DataMaster

JANUARY 15, 2021

Not only did the historically low interest rates contribute to the rise in home prices, but new home construction didn’t keep up. New Home Construction. As the home construction market begins to pick up speed, the influx of new homes will gradually ease the housing shortage. million units.

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East Coast Appraisal

OCTOBER 18, 2021

Thus, the cost of a house depends on both the construction and land cost. The appraisal will consider the market value of the land. This determines the use of and ease of construction on the land. Construction Cost. Construction cost considers how much you would need to build the exact house. Construction Cost.

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Property Appraisal Appraisal Architecture Construction 52

Appraisal Today

APRIL 12, 2024

Desktop appraisals okay for some Fannie Loans March 2022 Fannie Wants Desktop Appraisals Appraisal Business Tips Humor for Appraisers Click here to subscribe to our FREE weekly appraiser email newsletter and get the latest appraisal news!! baths, 14,450 sq.ft., Thanks to Tom for writing this blog post.

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Appraisal Construction Contracts Architecture 77

East Coast Appraisal

JULY 27, 2023

Cost Approach When utilizing the cost approach, appraisers begin by assessing the land value separately, as it is a separate entity from the improvements on it. Next, they evaluate the cost associated with the construction of a property with similar utility and functionality to the one being appraised.

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Valuation Real Estate Market Value Property Taxes 52

AmeriMac

APRIL 30, 2024

These appraisals provide an unbiased estimation of a property’s value, taking into account various factors such as location, condition, size, and recent sales of similar properties in the area. Understanding the commercial real estate appraisal process is crucial for anyone involved in the buying or selling of commercial properties.

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Appraisal Appraisal Process Valuation Real Estate 36

Birmingham Appraisal

SEPTEMBER 15, 2022

As you can see, there are major differences between home appraisals and home inspections and both are very important. There are numerous steps in the appraisal process and it’s important to know each step involved. Steps in the Appraisal Process. in addition to taking pictures. Conclusion.

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Appraisal Inspection Appraisal Process Real Estate Agent 93

McKissock

JULY 20, 2021

The root of many misconceptions about the appraisal inspection is the word “inspection” itself. Nevertheless, an appraiser is expected to have more knowledge about construction and systems in a dwelling than a layperson would. Relatively few appraisers take courses on inspection skills or construction.

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Inspection Appraisal Construction Clients 105

Cleveland Appraisal Blog

OCTOBER 29, 2021

To make this determination, the appraiser must first determine the Highest and Best Use of the land. They all have done their studies and have provided their analysis of what their data reflects the total economic life of a home to be based upon its quality of construction. These are just a few.

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Appraisal Development Finance Lending 365

AmeriMac

APRIL 29, 2021

While home appraisals help lenders confirm accurate sales prices, sellers can benefit from receiving the best and most precise price for their homes. Whether you’re an owner, seller or buyer, it’s critical you understand what the appraisal process is and how appraisers determine your home’s value. Construction quality.

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Appraisal Appraisal Process Inspection Sellers 36

AmeriMac

APRIL 29, 2021

While home appraisals help lenders confirm accurate sales prices, sellers can benefit from receiving the best and most precise price for their homes. Whether you’re an owner, seller or buyer, it’s critical you understand what the appraisal process is and how appraisers determine your home’s value. Construction quality.

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Appraisal Appraisal Process Inspection Sellers 36

AmeriMac

APRIL 29, 2021

While home appraisals help lenders confirm accurate sales prices, sellers can benefit from receiving the best and most precise price for their homes. Whether you’re an owner, seller or buyer, it’s critical you understand what the appraisal process is and how appraisers determine your home’s value. Construction quality.

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Appraisal Appraisal Process Inspection Sellers 36

DW Slater Company

FEBRUARY 24, 2022

As technology has evolved we have much greater access to data and appraisers are learning to adapt and use this technology. Many believe that the use of different data gathering tools and sources will help modernize the appraisal process. Ineligible Transactions.

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Tools Inspection Appraisal Technology 149

Birmingham Appraisal

MARCH 21, 2023

A Look at How Market Trends are used in the Real Estate Appraisal Process The real estate market is constantly changing, and market trends play a crucial role in helping an appraiser determine property values. If you have any questions about the appraisal process feel free to contact me and as always thanks for reading.

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Real Estate Appraisal Marketing Market Value 86

Clear Capital

MARCH 4, 2022

The mortgage industry is on its way to modernizing the appraisal process. In early February, Fannie Mae and Freddie Mac, the government-sponsored entities (GSEs), incorporated desktop appraisals into their Selling Guides beginning in March 2022. What are some of the benefits of desktop appraisals?

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Valuation Appraisal Inspection Appraisal Process 69

McKissock

MARCH 22, 2022

Special energy-saving items must be recognized in the appraisal process and noted on the appraisal report form. For example, when completing the appraisal report (Form 1004), special energy-efficient items are to be addressed in the Improvements section in the Additional features field. .”

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Appraisal Design Appraisal Process Market Value 90

Chicagoland Appraisal Blog

MAY 13, 2021

Some appraisers work separately and have their own private businesses while others may work for a bank or an appraisal firm that employs many appraisers. . What Is the Home Appraisal Process? To begin the process of having your home appraised, you’ll need to select an appraiser and schedule their inspection.

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Appraisal Renovations Home Value Real Estate 88

Clear Capital

AUGUST 30, 2021

Through ClearLabs, Clear Capital launched a nationwide Modern Appraisal solution that leverages mobile technology and non-appraisers in the property data collection process, as well as OwnerInsight , a free, consumer-friendly mobile tool that enables safe social distancing in the appraisal process. Media Contact.

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Valuation Tools Real Estate Technology 74

AmeriMac

APRIL 30, 2023

After their assessments, they produce an appraisal report that contains details about the home’s construction, description of its interior and exterior and recent comparable sales, and other pertinent neighborhood information.

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Appraisal Valuation Appraisal Process Renovations 36

Realtor

MARCH 7, 2023

While there is a lot of flexibility in the type of home that may be accepted for a USDA home loan—including condos , townhouses , and new construction —not all homes will qualify. The USDA home loan appraisal process To prove that a home meets the USDA’s criteria, all homes financed by USDA loans must undergo an appraisal.

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Inspection Appraisal Market Value Finance 111

Cleveland Appraisal Blog

SEPTEMBER 2, 2022

I also had good data for the construction cost (replacement cost). And the property being appraised had not been built yet. If a lender pushes back, my advice to appraisers is to not cave to the pressure of the lender. I had very few even remotely comparable sales to choose from for comparison. None were great.

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Development Appraisal Market Value Valuation 337

McKissock

FEBRUARY 25, 2022

Approach to the appraisal process. Appraisal specializations. ” Related reading: 20 Ideas to Get Your Name Out There as an Appraiser. “I have a background in construction and have been a business owner in the construction industry.” ” “Became an appraiser at age 58.

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Real Estate Appraisal Easement Inspection 78

D Fritz Appraisals

OCTOBER 11, 2022

Financial institutes or mortgage lenders will require an appraisal to ensure the home is worth the amount of money being requested in the loan or mortgage. Home appraisals are not just for when someone is buying or selling a home for themselves however, they are also important for: New construction loans. Estate settlements.

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Appraisal Inspection Property Taxes Easement 105