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3 Things An Appraisal Should Tell You That You May Not Know

Cleveland Appraisal Blog

Slap a few sales in a report, and make a few guesstimate adjustments to come up with their opinion of a property’s value? The research and analysis that a well-trained professional appraiser can provide you with will include important information above and beyond their opinion of the market value of the property they are appraising.

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Fannie Mae: Appraisals are no longer the default option

Housing Wire

As such, we are transitioning to a range of options to establish a property’s market value, with the option matching the risk of the collateral and the loan transaction,” Fannie Mae states in its release. “We are on a journey of continuous improvement to make the home valuation process more efficient and accurate.

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Who Needs Appraiser’s When One Has Cash?

Cleveland Appraisal Blog

While it may seem like many buyers don’t care about what the market value of a home is, I think that we must be careful to not make that assumption. There is a lot of information that an appraisal can provide, which can be helpful to lenders and homeowners. MARKET TRENDS. I hope you enjoyed that musical interlude!

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The Difference Between Pricing a Property and Appraising It

Cleveland Appraisal Blog

(Assuming they made adjustments) Did you consider any relevant market trends or economic factors when determining the property’s value? Can you provide any additional information or documentation to support your appraisal? There are three approaches to value that an appraiser will consider. Both require a skill.

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Savvy real estate agents look beyond ChatGPT

Housing Wire

It is trained on text data and learns to identify patterns from that data to generate human-like text responses. It will instantly share new information with all connected AI systems, continually expanding its database and understand it in ways humans could not process. ChatGPT uses neural networks to learn from experience.

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28,000 Reasons to Have Your Home Measured Before You List It

Cleveland Appraisal Blog

That way of measuring the market can lead to an opinion of value that is in the ballpark of a home’s market value. If someone wants to use this method for pricing a home, there is one piece of information that is incredibly important to get right. Information in public records is usually free.

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Are Home Buyers Regretting Their Purchase?

Cleveland Appraisal Blog

They are trained to catch things that most people might miss. HOME VALUES AND OVER-PAYING. Some buyers are paying over market value for their homes. It’s one thing to pay more than market value for a home because of being in a bidding war. No one knows what the market will do tomorrow.

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