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GSEs further expand AVMs, desktop and hybrid appraisals

Housing Wire

Desktop appraisals and hybrid appraisals, where an independent third-party inspects the property, both “reduce costs to the borrower and reduce potential risk of bias by creating greater separation between the appraiser and borrower,” wrote Fannie Mae. Non-traditional appraisals to the rescue.

Appraisal 292
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Increasing Diversity in Appraisal Profession.

Appraisal Buzz

The Urban Institute recently released a blog post entitled – Increasing Diversity in the Appraisal Profession Combined with Short-Term Solutions Can Help Address Valuation Bias for Homeowners of Color. In the past, financial institutions were a viable training ground. Most independent fee appraisers work on very small margins.

Appraisal 370
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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. Creating new content, whether in the form of text, photos, videos or computer code, is referred to as generative AI. Which real estate functions can AI outperform humans I asked GPT-4 about real estate valuation.

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New Construction Homes Rise to All-Time High, The Housing Market Has Doubled in the Last Decade, and More Appraisal News

McKissock

Incenter Appraisal Management and McKissock Learning partner to host several desktop valuation training webinars. “ For reference, the market hit the $10 trillion mark in 1994, the $20 trillion mark in 2004, and $30 trillion in July 2017.” Class Valuation continues its acquisition spree. Read the full story.

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To Desktop or Not to Desktop, That is The Question

DW Slater Company

Here is a good reference from FNMA & Freddie Mac: URAR Hybrid and Desktop Appraisal Forms. INvision Capture – This tool from Class Valuation provides a floor plan and sketch to ANSI standards. Homeview Inspection Tool- This tool from Valuelink provides an inspection tool to view a property and take photos.

Tools 149
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The Automated Appraisal: Tips for a Changing Appraisal Environment

Genworth MI Blog

When you hear automated appraisal, that refers to a computer doing the valuation without an appraiser. In addition to the automated appraisal, we’re starting to see moves toward a hybrid appraisal process called bifurcation , meaning that a computer and a person complete the valuation. What does that mean?

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The Automated Appraisal: Tips for a Changing Appraisal Environment

Genworth MI Blog

When you hear automated appraisal, that refers to a computer doing the valuation without an appraiser. In addition to the automated appraisal, we’re starting to see moves toward a hybrid appraisal process called bifurcation , meaning that a computer and a person complete the valuation. What does that mean?