article thumbnail

What AVMs can and can’t do in the appraisal process

Housing Wire

Further, Fannie notes, “Leveraging the wealth of big data, the power of advanced analytics, and the speed of technology, appraisers can perform desktop appraisals without physically inspecting the property.” AVMs do not account for upgrades or renovations. ” Amazing, right? What about AVMs?

article thumbnail

Real estate appraisals: What agents should know

Housing Wire

A home inspection hasn’t yielded any problems, so nothing is standing in the way of closing, right? One of the final hurdles to clear is the appraisal , and it has the power to leave a deal dead in the water. Appraisals protect both parties by preventing them from making a deal that’s not financially sound.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

How to Communicate Effectively with a Real Estate Appraiser in the Appraisal Process

Boston Appraisal

If you are buying or selling a property, or refinancing your home, you may encounter a real estate appraiser who will appraise your property based on its condition, features, location, and market trends and provide an appraisal valuation. The appraisal process is important for homeowners, buyers and sellers.

article thumbnail

Desktop appraisal option to start in March

Housing Wire

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%. Lenders leapt at the opportunity to conduct appraisals remotely, especially in the northeastern part of the country.

Appraisal 414
article thumbnail

The Appraiser’s Perspective: Insights and Tips for Real Estate Agents

Appraisal Hub

In this blog, I aim to provide valuable insights and tips from an appraiser’s perspective, empowering real estate agents to navigate the appraisal process with confidence. Understanding the Role of Appraisers: First and foremost, it’s crucial for real estate agents to understand the role of appraisers.

article thumbnail

The Home Appraisal Process: How It Can Impact Your Mortgage Payment

Realtor

-Oxford-/iStock The home appraisal process is just a formality when buying real estate, right? If you’ve applied for a mortgage, your home-to-be still has to undergo a comprehensive appraisal of its worth—and an unfavorable home appraisal can kill a real estate deal. Appraisers must remain independent.

article thumbnail

The Home Appraisal Process: How It Can Impact Your Mortgage Payment

Realtor

-Oxford-/iStock The home appraisal process is just a formality when buying real estate, right? If you’ve applied for a mortgage, your home-to-be still has to undergo a comprehensive appraisal of its worth—and an unfavorable home appraisal can kill a real estate deal. Appraisers must remain independent.