Appraiserblogs

APRIL 9, 2024

Based on the local market appraisal fee, Valuation Connect values the “appraisal expertise” component of a hybrid appraisal at 18% of what the consumer pays for an appraisal. This firm hasn’t awarded us work in about two years, and they only hire us when they are in a jam, and we require the local market rate.

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Valuation Inspection Appraisal Real Estate 117

Cleveland Appraisal Blog

JULY 20, 2022

I recently gave a presentation and was asked if appraisal gap clauses impact the way appraisers are developing their opinion of value? In other words, do appraisal gap clauses cause appraisers to be more “conservative”? An appraisal gap clause can be written into a contract. But not always.

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Appraisal Market Value Contracts Buyers 397

Cleveland Appraisal Blog

MAY 27, 2021

Who needs an appraiser when one has cash? There is a lot of information that an appraisal can provide, which can be helpful to lenders and homeowners. However, anyone can hire an appraiser to appraise a home. Appraisals provide information that can be helpful to the lender, and the buyer, in deciding about buying a home.

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Market Value Appraisal Buyers Marketing 418

Housing Wire

MARCH 21, 2024

The CFPB earlier this month stated that closing costs — including costs of title insurance, origination fees and credit report and appraisal fees — “all too often are full of junk fees.” Borrowers are not generally aware of this cost, but the impact is clear,” said the CHLA.

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Housing Wire

NOVEMBER 15, 2023

Michigan-based United Wholesale Mortgage (UWM) wants to court more brokers by offering no-cost appraisals on 1-0 temporary rate buydowns amid fierce competition in the industry. UWM currently offers seller- or lender-paid 1-, 2- and 3-year temporary rate buydown options, according to its website.

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Appraisal Real Estate Agent Sellers Government 376

Housing Wire

MARCH 15, 2024

At this early stage, it’s unclear how such commissions would be paid since buyers could pay their agents out of their pockets or negotiate commissions as a seller concession in the closing costs. You should be finding buyers before real estate agents anyway.” Assisting homebuyers and their agents adds more to an LO’s plate.

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Appraisal Buzz

AUGUST 16, 2021

Like many busy appraisers, I can spend a lot of time in my own little world just trying to keep my head above water. Lately, though, I’ve been trying to carve out some extra time to find out about what other appraisers are saying and doing in this unusual market. Herein lies the appraisal gap.

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Housing Wire

MARCH 8, 2023

To be eligible, borrowers are required to upload all documents — including pay stubs, bank statements and a copy of a complete purchase agreement for the subject property of their mortgage loan. Properties must also be eligible for an appraisal waiver and borrowers must opt-in for automated income and asset verification.

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Appraisal Mortgage Buyers Government 355

Appraiserblogs

APRIL 16, 2024

United Wholesale Mortgage (UWM) began an aggressive campaign in September 2021 to recruit appraisers for their new Appraisal Direct system, which aimed to cut out appraisal management companies as middlemen. The post UWM Underwriters Subsidized by Appraisers appeared on Appraisers Blogs. The AMC fee was $394. …

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Housing Wire

JUNE 10, 2021

Make sure you’re aware of the fees you’ll have to pay, so you can budget accordingly. According to HomeAdvisor , the average seller pays almost $1,500 in staging costs. A concession is when the seller agrees to pay part of a buyer’s closing costs. Naturally, the price a buyer will ask a seller to pay will vary.

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Sellers Real Estate Agent Real Estate Decorating 545

Housing Wire

MAY 7, 2021

The booming real estate market has created a high demand for appraisal services. This is good news for lenders, but it puts a tremendous amount of pressure on appraisers who have to be diligent in their work, while also meeting closing dates. HousingWire: What’s the biggest pain point appraisers are currently facing?

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Housing Market Appraisal Appraisal Process Marketing 545

Housing Wire

OCTOBER 25, 2023

However, Blefari said that those are just ranges, and he cited appraisal fees being waived or points on the mortgage as reasons why commission fees could change. Ketchmark then posed an example where a seller agrees to pay their agent 3% in commissions and the seller’s agent finds a buyer who wants to pay $300,000 for his home.

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Sellers Realtors Agents Buyers 391

Housing Wire

MARCH 24, 2023

When you google “ appraisal gap” — and I just did — a long list of search results appear. What I did see were links to lender websites almost apologetically explaining what an appraisal gap is to their customers and willing them not to panic if it happens to them. Well, a cure for appraisal gap anxiety has appeared on the scene.

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Appraisal Contracts Tools Valuation 390

Housing Wire

APRIL 8, 2021

According to industry experts, there is more to a home offer than just the price you are willing to pay. Another seller’s home may need repairs, and you put in your offer the need for a seller credit to pay for them. Second, it allows you to tailor your offer to each individual house you put an offer on.

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Inspection Sellers Buyers Tools 437

Housing Wire

AUGUST 25, 2022

With recent developments from Fannie Mae and Freddie Mac to pursue a more digital appraisal process that could both speed up the process and remove any unconscious bias from it, it is important for industry professionals across the space to stay at the top of their game. 3-5 is proud to present an appraisal-centered session this year.

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Housing Wire

SEPTEMBER 8, 2021

Appraisal management company Class Valuation , a subsidiary of investment firm Gridiron Capital , acquired Kansas City, Missouri-based Pendo Management for an undisclosed sum. A few months later, Class Valuation snatched up Texas-based appraisal management company Janus Valuation and Compliance.

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Valuation Appraisal Process Appraisal Clients 338

Housing Wire

SEPTEMBER 23, 2021

Appraisers have experienced many challenges in the last couple of years. From juggling high volume demand for appraisals in the middle of a pandemic, appraisers had to radically change their processes. Remote inspections have the power to make homeowners and appraisers more comfortable. Introducing RemoteVal.

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Housing Wire

JUNE 11, 2021

What’s the difference between a home inspection and an appraisal? Before you get overwhelmed, take comfort that critical milestones of home inspection, appraisal and closing processes are all great ways to get more acquainted with your prospective new home. An appraisal is a valuation of a property by a third party.

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Inspection Appraisal Buyers Appraisal Process 427

Housing Wire

FEBRUARY 12, 2024

Do they need to tap into their equity to pay off other debts? Do they want to pay off their mortgage faster? This borrower wants to pay off their mortgage faster. Furthermore, the average consumer is likely unaware of the variety of loan options available to them through the wholesale channel.

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Mortgage Clients Business Marketing 405

Appraisal Buzz

AUGUST 9, 2021

Local, State, and Federal policy can play a significant role in an appraiser’s business – it is important to stay informed about what is happening around us. Most appraisers have been busier than ever over the past year and may be struggling to keep up with deadlines. Policy can affect all segments of the appraisal profession.

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Housing Wire

NOVEMBER 18, 2021

While having core systems in place is important, no matter how good a lender’s process is, if there’s an issue with the appraisal, everything could be compromised. While having core systems in place is important, no matter how good a lender’s process is, if there’s an issue with the appraisal, everything could be compromised.

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Appraisal Appraisal Process Modernization Technology 382

Appraisal Buzz

DECEMBER 27, 2021

There’s too little supply and too high a demand, a predicament that’s disrupted the housing and appraisal industries. Beginning in January 2020, 7% of purchase transactions had a contract price above the appraisal value. As the appraisal gap widened, the CoreLogic Price Index rose as well, reaching 15% in May of this year.

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Appraisal Valuation Modernization Contracts 397

Appraisal Buzz

APRIL 19, 2024

FormFree has enhanced its Passport Wallet solution by adding a new user interface that makes it easier for consumers to understand their ability to pay and match with lenders. Photo: Bruce Mars The post FormFree Enhances Passport Wallet appeared The post FormFree Enhances Passport Wallet appeared first on Appraisal Buzz.

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Finance Appraisal Mortgage Marketing 195

Cleveland Appraisal Blog

NOVEMBER 3, 2022

Most appraisers are experiencing a significant slowdown in mortgage lending work due to rapidly increasing mortgage rates which are slowing down the housing market. Mortgage lending work is only one type of business where appraisals are needed. Mortgage lending work is only one type of business where appraisals are needed.

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Business Appraisal Real Estate Agent Clients 393

Housing Wire

FEBRUARY 8, 2022

Desktop appraisals arrived in March of 2020, allowing the housing market to keep humming while many stayed indoors to prevent the spread of COVID-19. Allowing appraisals without a walk-through was one of several flexibilities the Federal Housing Finance Agency allowed in light of the pandemic.

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Appraisal Appraisal Process Valuation Renovations 363

Housing Wire

FEBRUARY 15, 2024

Amid mounting affordability pressure on homebuyers, DPAs have become a saving grace for many borrowers who don’t have the savings or other resources to pay a lump-sum down payment. They made good money, but with student loans and car payments, they didn’t have the money for the down payment and closing costs,” Saller said.

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Mortgage Buyers Loan Officers Sellers 442

Housing Wire

FEBRUARY 28, 2023

An Amazon stock will be valued during a home appraisal, and the rate and term can be locked within the Better platform. It allows that employee to not have to pay an excise tax or capital gains tax, and can still benefit from the stock value growing over time.” “The status quo is broken,” Garg said.

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Finance Mortgage Real Estate Marketing 366

Appraisal Buzz

JANUARY 14, 2022

Homeowners spent an average of five years in their first home, with millennials spending four, and paying higher prices for their first home. The post On Average, Millennials Are Paying More for Starter Homes appeared first on theMReport.com.

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Appraisal Buzz

FEBRUARY 17, 2022

The post Where Do Homeowners Pay the Most for Insurance? The post Where Do Homeowners Pay the Most for Insurance? appeared first on Appraisal Buzz. A new report reveals Americans spend an average of $2,148 for a homeowners policy of $500,000. appeared first on DSNews.

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Insurance Appraisal 195

Housing Wire

FEBRUARY 18, 2022

This week’s HW+ member spotlight features John Brenan, vice president of Valuation Policy and chief appraiser at Clear Capital. Brenan has more than four decades of experience in the appraisal industry, previously serving in leadership roles at The Appraisal Foundation and the State of California Bureau of Real Estate Appraisers.

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Realtor

NOVEMBER 7, 2023

Knowing what you’re paying for when you’re buying a home—like these 10 costs of buying a home—can ease that check-writing pain. The amount you need to pay varies by location, lender, and loan type. Expect to pay $300 to $500 for a home inspection, although cost varies by location. Those assurances come with a price.

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Inspection Insurance Sellers Buyers 196

The Appraiser Coach

JULY 11, 2023

I’m not paying them to do those things; I’m paying them to contribute to my business and participate in an effective and efficient work environment. In our new world of remote learning, I think you should strongly consider finding ways to track your employee’s activity is you’re paying them by the hour.

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Business Appraisal Inspection Advertising 195

Cleveland Appraisal Blog

JUNE 25, 2021

What do they indicate and how do appraiser’s measure depreciation? Functional depreciation results when buyers pay less for a home, in comparison to other similar homes, because some aspect of it is less functional than other generally similar homes. Therefore, people may pay less for the home with only one bathroom.

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Market Value Appraisal Marketing Buyers 244

Housing Wire

FEBRUARY 9, 2021

When you go to buy a home , your mortgage lender will almost always order a home appraisal. Scenario 1: Your home appraises at your full offer price. Many times, the home appraisal goes off without a hitch. Many times, the home appraisal goes off without a hitch. Scenario 2: Your home appraisal comes in low.

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Appraisal Real Estate Agent Sellers Real Estate 454

Cleveland Appraisal Blog

AUGUST 6, 2021

I’ve appraised many thousands of homes over the years. By the way, appraisers are looking for things readily observable. For this reason, a buyer should not rely on an appraiser’s inspection to catch things that might not be obvious. HOME VALUES AND OVER-PAYING. Did they regret their decision? Is this wise?

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Buyers Property Taxes Inspection Market Value 243

Appraisal Buzz

JULY 5, 2021

The appraisal industry — just like so many others — has taken all kinds of twists and turns over the past year. Whether you’re an appraiser or another industry professional who frequently works with appraisers, the changing nature of the industry is likely enough to make you feel a bit overwhelmed.

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Appraisal Real Estate Construction Appraisal Process 370

Cleveland Appraisal Blog

JULY 28, 2022

Visit the Cleveland Appraisal Blog for expert advice and assistance. Pay a visit to your new hometown. Since you’re moving so far away, it couldn’t hurt to pay a visit to a new hometown just to get a feel for where you’re moving to. Here are some tips you can use to make the transition easier.

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