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Revive launches AI-powered listing tool for real estate agents

Housing Wire

This AI-driven tool uses computer vision technology to evaluate the current condition of a property and provide a detailed assessment of its current market value and potential value post-renovation. Future ARV (after-remodeled value): The projected market value post-renovations.

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Do Appraisal Gap Clauses Impact Appraisals?

Cleveland Appraisal Blog

I recently gave a presentation and was asked if appraisal gap clauses impact the way appraisers are developing their opinion of value? It states that the buyer will still purchase the home at the contract price, even if the appraised value is lower than the contract price by a certain amount. But not always.

Appraisal 397
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What to do when your buyer wants to make a lowball property offer

Housing Wire

By definition, a lowball offer is an offer that is significantly below market value. Asking price and market value are not always the same thing. Determine if the listing is priced correctly Determine the actual market value of the subject property. If so, it may be time for a strategy change.

Buyers 407
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9 tips for homebuyers in non-disclosure states

Housing Wire

For many, buying a home is a complex process, and navigating the real estate market’s rules and regulations can be tricky, especially in states where property sale prices remain a secret. Without sales figures, it’s difficult to access comparable sales, and home buyers may find it challenging to gauge the fair market value of a property.

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Unanswered Questions – Part 1

Appraisal Buzz

Fannie Mae defines market value in part as “the most probable price that a property should bring…” Thus, probability is the very foundation of the most common definition of market value. In other words, why are appraiser estimating market value below the contract price so often? Markets hate uncertainty.

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A Seller’s Market: What Does It Mean for Appraisers?

Appraisal Buzz

Pressure to Appraise at Buying Cost When buyers enter bidding wars, the market value might not align with the property’s cost. Pay attention to patterns — average increases over the years present reliable measures of a home’s worth on the closing date. Ignore disagreements about the home’s value while doing your appraisal.

Appraisal 370
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Ocwen improves overall reverse mortgage performance despite volume contraction

Housing Wire

The company’s origination segment also returned to profitability, O’Neill said, despite challenges presented by persistently high mortgage rates and a contraction in reverse mortgage volume. We also continue to dynamically manage our owned MSR portfolio to capitalize on differing views of market values amongst top market participants.

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