Cleveland Appraisal Blog

NOVEMBER 11, 2021

I have written several articles demonstrating the inaccuracy of AVMs like Zillow’s Zestimates. One big one is their Zestimate’s inaccuracy at predicting market value, and more specifically, they were relying on their own Zestimates to make important decisions like buying & selling homes. They are excellent at marketing.

Market Value 364

Market Value Valuation Appraisal Real Estate 364

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. Here is the Link to the Bulletin. In other words, the physical structures tied to the land.

Appraisal 79

Appraisal Contracts Mortgage Clients 79

McKissock

JUNE 13, 2021

That’s why we’ve teamed up with RISMedia , the leading provider of the most relevant and up-to-date information related to the residential real estate market. Here’s a brief overview of what you will find in this month’s edition. Read the full article here. Read the full article here. Read the full article here.

Real Estate 52

Real Estate Agents Inventory Realtors 52

Appraisal Today

JULY 21, 2023

That’s what we always hear. This likely has to do with the cost of building a pool, cost of maintaining a pool, and even larger parcels at higher ranges – not to mention buyers at higher price points expecting a pool more often. NOTE: Does your market look similar? What are buyers willing to pay? And, it’s true.

Appraisal 88

Appraisal Real Estate Contracts Business 88

Appraisal Today

JUNE 10, 2022

Easy — we do what we have always done, each time. Recall the five forces of friction: practices, standards, education, regulation, and client expectation. Habitual practice of “comparing comps” over “measuring markets” will prevail (in the absence of change in the other “frictions”). How can we fix the excess of appraisers?

Appraisal 52

Appraisal Contracts Business Mortgage 52

Appraisal Today

JUNE 9, 2023

Reliability of data You need to consider: What is this data telling me? Reliability of data You need to consider: What is this data telling me? Going from park to park only to find all the courts taken up was not uncommon. Quality refers to the quality of items, materials, and construction. How reliable is that data?

Appraisal 52

Appraisal Advertising Real Estate Contracts 52

Appraisal Today

SEPTEMBER 23, 2022

Excerpts: Commentary from a (Ryan) appraisal: Here is a bit of commentary in one of my recent appraisal reports. This is only part of what I say because I’m a man who needs a few paragraphs. Now let’s keep watching to see what happens to size. Will we see smaller homes more often as first-time buyers flood the market?

Appraisal 52

Appraisal Marketing Business Contracts 52

Appraisal Today

FEBRUARY 3, 2023

What was once quirky and unique is now shiny and corporate—with prices to match. Bringing More People Into a Dying Profession? By Dave Towne, Jan. 23, 2023 My comment: This only applies to residential lending appraisals, of course. My non-lender appraisals have changed very little with few, if any new “requirements”.

Appraisal 40

Appraisal Contracts Business Mortgage 40

Will Springer Realtor

JANUARY 9, 2024

This positive shift is expected to bolster consumer confidence and help alleviate cost pressures in numerous aspects of the economy. This represents about 75M homeowner households, according to a Harvard housing report, out of a total of 85M households nationwide. Treasurys and mortgage-backed securities.

Mortgage 36

Mortgage Real Estate Law Lending 36

Appraisal Today

APRIL 14, 2023

For many different reasons, properties can come on the market in less-than-par condition. At some point it’s no longer “normal market value minus cost to cure equals as-is value.” Appraising Fixer Uppers Excerpts: We’re all familiar with the term “fixer-upper.” Even if you have comps, there is often a very wide range of conditions.

Appraisal 52

Appraisal Bracketing Contracts Valuation 52

Housing Wire

DECEMBER 20, 2021

Even in the extreme conditions of COVID-19, my general premise on housing economics predicted that the two variables with the most influence — demographics and mortgage rates — would hold up the housing market. This is very similar to what I have done in the past, paying my respects to the downtrend in bond yields since 1981.

Housing Market 540

Housing Market Inventory Mortgage Marketing 540

PennyMac

JANUARY 16, 2022

So, you’ve finally found your dream vacation house. Couple this with the improved job market and an upswing in home values, and you have a tidal wave of homeowners willing to invest in fixer-upper dwellings. You may want to consider which vacation home markets are hot, and which are trending down. Buying a vacation home?

Investing 36

Investing Property Taxes Real Estate Renovations 36

Will Springer Realtor

MAY 9, 2023

Almost since the start of the pandemic, homeowners have been spending more time enjoying their low-financed houses and condos. The $180B kitchen and bath market is leading the home-improvement charge and, despite economic headwinds for many households, industry experts see no end in this modernization movement.

Real Estate 36

Real Estate Modernization Construction Supply Chain 36

Will Springer Realtor

MAY 12, 2021

Home prices are overheating, mortgage rates are inching up from the start of the year and the supply of homes is in an unseasonable valley – far from its Mt. This segment of America, born from about 1980 to 1998 and the largest living adult generation in U.S. Rainier-esque peak of a decade past! million individuals annually.

Real Estate 36

Real Estate Inventory Buyers Construction 36

Appraisal Today

JANUARY 26, 2024

New USPAP Q&As January 16, 2024, the Appraisal Standards Board released new Questions and Answers covering important topics in the profession today including: Demographics Does demographic information relating to race (such as Census data) constitute “information relating to” a protected characteristic? baths, 16,225 sq.ft.,

Contracts 84

Contracts Appraisal Mortgage Inspection 84

Appraisal Today

SEPTEMBER 1, 2023

McKissock Survey Excerpts: As a professional appraiser, you’ll likely encounter some strange properties from time to time. To gain insight into these types of assignments, we asked our appraisal community, “What’s the weirdest property you’ve appraised recently?” It was a house on three lots. It was only 3 bedroom, but had 3.1

Appraisal 78

Appraisal Contracts Mortgage Real Estate 78

Appraisal Today

SEPTEMBER 17, 2022

Appraisers: What should you have in your car? Bug spray: To protect yourself from mosquito bites, ticks, etc. NOTE: Please scroll down to read the other topics in this long blog post on AMCs, appraisal business, real estate market, unusual homes, mortgage origination stats, etc. =. Ice pick: To check for termites or wood rot.

Appraisal 52

Appraisal Construction Contracts Insurance 52

Appraisal Today

JULY 15, 2022

Excerpt: What can appraisers learn when it comes to short-term and long-term rentals? What role does an appraiser take when sorting between the two? What can appraisers learn when it comes to short-term and long-term rentals? What role does an appraiser take when sorting between the two? By Julie Friess, SRA, AI-RRS, MA.

Appraisal 59

Appraisal Inspection Contracts Business 59