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Appraisals – Check the Water Source!

Appraisal Today

Excerpt: We continue to see claims alleging that the rural property appraiser failed to adequately identify or report details surrounding a water source. In one claim, the appraiser correctly noted that the property was serviced by a “private water well.” Appraisers – check the water source! Hybrid appraisal survey ).

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NAR: Appraisal License Equivalency Credit for RE Agents?

Appraisal Today

NAR Urges Appraisal Foundation To Establish Equivalency Credit for Education and Experience. Excerpts: The AQB previously considered the option of allowing parallel professional non-appraisal experience. Counseling buyers, sellers, owners, and tenants on inspections and remediations, improvements, and the appraisal process.

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VA Approves Desktops and Exterior-Only Appraisals

Appraisal Today

VA Approves Desktops and Exterior-Only Appraisals. The use of a Desktop Appraisal may allow an appraiser from outside the market area, but with appropriate credentials for the jurisdiction of the property, to complete the assignment when no local VA fee panel appraiser is available.”. “The Appraisal Assignment Waterfall.

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Too many appraisers?

Appraisal Today

How can we fix the excess of appraisers? Too many appraisers? 2) We will make it harder to become an appraiser; 3) Let the lower fees discourage newcomer appraisers. In past issues of the Analogue Blog, we have considered the “five forces of friction” on the advancement of appraisal. Humor for Appraisers.

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NAR Appraisal Survey 2022

Appraisal Today

NAR Appraisal Survey 2022. Excerpts from NAR Report (link below): In May 2022, NAR Research conducted a survey of all 9,700 appraiser members and 50,000 randomly-selected non-appraiser members. The typical appraiser reports a 40-mile radius in which they conduct appraisals. While agents can “puff” we cannot!

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Value of a Pool for Homes?

Appraisal Today

After 35 years of appraising here, the value effect is none. In dramatic contrast, when I first started appraising “over the hill”, 10-15 miles away where there are many subdivisions, I noticed that in certain neighborhoods, a pool was almost mandatory. I have appraised a few homes with pools in areas with few pools.

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Superadequacy Adjustments for Appraisals

Appraisal Today

Per The Dictionary of Real Estate Appraisal, 6th Ed., Example #1: Superadequate custom fireplace Example #2: Superadequate 12-car garage To read more, Click Here My comments: Although the blog post references luxury homes, this can occur anywhere. 12 Days of Appraiser Christmas Very funny!!