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FHFA’s RFI on appraisals is a critical inflection point

Housing Wire

The FHFA’s engagement of industry stakeholders signifies a critical inflection point for appraisal transformation. For example, appraisal turn time has swelled 65% from 2018, according to recent data published by Freddie Mac. Appraisal costs have also soared 24% since 2016, according to the Freddie Mac data. Appraiser shortage.

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Remember liar loans of a decade ago? Those same people want to do away with appraisers.

Miller Samuel

My friend and appraisal colleague Ryan Lundquist and I authored a petition on change.org to point out the growing wreckless behavior that is enveloping the mortgage process. There’s a proposal from the FDIC, Federal Reserve, and Treasury Department not to require appraisals for some mortgages under $400,000.

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26 Reasons to Get an Appraisal

Realvals

In today’s dynamic market, there are many situations where you may need a real estate appraisal. An appraisal provides you with the clearest understanding of the value of your real estate. Whether you are buying, selling, or refinancing, an appraisal helps you make well-informed decisions in the process.

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10 Costs of Buying a Home You Need To Know About

Realtor

This amount can change depending on market factors. If the market is cold, a seller could be happy with less than 1%. Other governing factors like state limitations and rules can cap how much earnest money a seller can ask for. Home inspection : This is critical for home buyers. Pest inspections : Roaches are one thing.

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The Hybrid Appraisal: It’s Cheaper, but Does It Protect Homebuyers?

Realtor

Getty Images If you need a mortgage to buy a home you have your eye on, it’s standard for your lender to order an appraisal of the property. But when your lender says it’s ordering a hybrid appraisal instead of a traditional appraisal , what does that mean exactly ? The appraisal also protects you as a buyer.

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What Is A Home Appraisal?

DataMaster

What is an home appraisal? Why Didn’t My Home Appraise Higher? Appraisals can be confusing. A friend (I’ll call him Art) recently had his home appraised. When the appraisal came back, he was shocked to see that his home appraised for less than two homes nearby that had recently sold.

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A property tax reckoning is coming

Housing Wire

Most conversations surrounding the affordability crisis have focused on headline-grabbing home price increases , bidding wars , racial disparities in home appraisals and a lack of supply. Racial disparities in appraisals are far less clear than property taxes. But the federal government has fixed its might on the former.