Appraisal Buzz

JANUARY 28, 2022

According to the National Association of Realtors, home values increased by 16.9% in 2021, the highest year-over-year increase since 1999. This surge in demand is pressuring the diminishing … The post Hot Market Homes Selling at Record Speeds appeared first on DSNews.

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McKissock

MAY 13, 2022

How do you stay up-to-date on the latest appraisal news and trends? They’re also entertaining and super convenient since you can stream them during your morning commute or while you’re driving to appraisal appointments. Whether you listen in your car or at your desk, here are seven excellent appraisal podcasts to check out.

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Housing Wire

APRIL 20, 2021

In analyzing more than 7 million homes sold between 2013 and the beginning of 2021, Redfin found homes in Black neighborhoods are undervalued by an average of $46,000 compared to homes in primarily white neighborhoods, the company said. Only 44% of Black Americans own the home they live in, versus 74.5%

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Appraisal Today

MARCH 22, 2024

For instance, in the subject’s market, a mountain view could significantly impact the demand and marketability of a vacation condominium home. Appraisal Business Tips Humor for Appraisers Click here to subscribe to our FREE weekly appraiser email newsletter and get the latest appraisal news!!

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Housing Wire

JANUARY 13, 2022

The Supreme Court weighed in on a class action lawsuit against Quicken Loans , now Rocket Mortgage , regarding its appraisal practices during the financial crisis, delivering a procedural win for the mortgage lender. million stemming from allegedly tainted appraisals for 2,769 mortgage loans Quicken Loans originated from 2004 to 2009.

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Appraisal Buzz

JUNE 6, 2022

The latest news of such comes from American Land Title Association (ALTA) who found that, driven by meteoric rise in originations and home values last year, has caused title insurance premiums to increase by 35.9% The post Title Insurance Market Sees Double Digit Growth appeared first on Appraisal Buzz.

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Appraisal Buzz

NOVEMBER 29, 2021

This article was first published in the Fall 2021 Edition of Appraisal Buzz Magazine. Appraisers use three different property valuation methods: (1) Sales Comparison relates the estimated value of our subject property to similar settled, active, and pending market sales. (2) 2) Fill in the Cost Approach form. (2A)

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Appraisal Buzz

NOVEMBER 11, 2021

trillion in new loans originated in 2020 – and the perfect storm of low interest rates and high home values has kept the gold rush going in 2021. Power ’s 2021 U.S. Power Reports Higher Mortgage Origination Volume, Lower Customer Satisfaction appeared first on Appraisal Buzz. According to J.D. The post J.D.

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Appraisal Today

JUNE 23, 2023

This Is Where Appraisal Liability Risks Lie (Plus Tips on How to Avoid Them) By: McKissock Excerpts: While it’s difficult for a litigant to win a judgment against an appraiser, that doesn’t spare appraisers the inconvenience of being sued, which can be costly, time-consuming, and harmful to one’s reputation even if the suit fails.

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Empire Appraisal Group

DECEMBER 10, 2021

Has 2021 Been a $2 Trillion Year? The real estate data firm CoreLogic reports that the total value of residential real estate transactions in 2021’s second quarter topped $600 billion for the third time in the past year. In the first quarter of 2021, $750 billion was spent on 1.91 million transactions. © CoreLogic.

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Houston Properties

JULY 22, 2022

Home Value Of My House: Tips for Pricing Your Houston Home. Asking yourself, "What is the home value of my house in Houston"? Use this Houston home valuation tool from HoustonProperties.com. Value Your Home. Planning to sell your home but overwhelmed with all the steps to take?

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Appraisal Today

AUGUST 4, 2023

The End of Home Appraisals? As with all banned words, Freddie’s list will lead to the need to ban additional words over time as appraisers, expunging the word “desirable,” will find synonyms when analyzing market reaction to the views of two homes or to the cul-de-sac location of a home versus the midblock location of a comparable.

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Housing Wire

SEPTEMBER 7, 2022

They’ll require a full appraisal. As mortgage rates climb to the mid 6% range and home values continue to increase, the new conforming loan purchase limit will offer better pricing, require a smaller down payment for home purchases and easier documentation compared to a jumbo loan, Rocket said. .

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Housing Wire

AUGUST 27, 2021

Cinch Home Services surveyed over 1,000 homeowners and renters to figure out how important updates are in the homebuying process. And they discovered that a majority of homeowners think upgrading their appliances will increase their home value by almost $14,000. . Take major kitchen remodels, for example. Bottom Line.

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Housing Wire

JULY 7, 2023

The fix-and-flip market has seen a boom in recent years, with more than 407,000 homes flipped in 2022, a 14% increase from 2021 and a 58% increase from 2020, according to a recent report by real estate data firm ATTOM. ATTOM reports that one in 12 home sales last year — 8.4% — involved fix-and-flip investors.

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Housing Wire

JANUARY 7, 2022

Local real estate agents, loan officers and appraisers share what characteristics are currently defining their housing markets. That’s reflected in home prices, where the median Honolulu home sold for $975,000 in the second quarter of 2021, according to the National Association of Realtors , a climb of 20% year-over-year.

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Eppraisal

OCTOBER 19, 2021

This is due to low interest rates, historically low inventory and more than usual buyers flocking to the market, thus, homes have been selling in record time. As a result, home values have been increasing. Real estate appraisers however are acting more level-headed. It may be good news or it may be not-so-good news.

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Cleveland Appraisal Blog

OCTOBER 29, 2021

If you’re reading through an appraisal report, and you make it to the Cost Approach, which is where appraisers report either the reproduction or replacement cost of the home they are appraising, you will see a little field that says, “ Remaining Economic Life “ What does this number indicate?

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DW Slater Company

SEPTEMBER 29, 2021

AUGUST 2021 Denton County $410,000 | +22.4% AUGUST 2021 Denton County 6 | -60.0% AUGUST 2021 Denton County 103.0% | +4.3% AUGUST 2021 Denton County 1,558 | -14.7% AUGUST 2021 Denton County 1.0 | -41.2% Appraiser Corner. What Should Appraisers Wear? What is Critical Appraisal Theory?

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Appraisal Today

MAY 19, 2023

Chat GPT For Fannie Form Appraisal Reports By Dustin Harris Excerpts: The world of real estate appraisal is constantly evolving (much to our dismay sometimes), and as professionals in this field, it is crucial to stay ahead of the curve by embracing innovative tools and technologies. The answer is, Yes! Nothing wrong with that.

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Appraisal Today

JUNE 10, 2022

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. Purchase vs. refi appraisals.

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Cleveland Appraisal Blog

APRIL 29, 2021

Welcome to Emily Miller , who wrote this piece for the Cleveland Appraisal Blog. Tips for Increasing Your Home’s Value Without Spending a Fortune. Buying a property is not just about creating a home, it is making a long-term investment. What Home Appraisers Look For. I have one more this week.

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Appraisal Today

FEBRUARY 24, 2023

What Level Appraiser Are You? What is the mark of an appraiser who is at the top of his or her “game”? For example, are you competent to prepare an entire appraisal from start to finish? But what if the appraisal form was completely blank with no boilerplate text? A Level 1 appraiser checks boxes.

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Housing Wire

FEBRUARY 27, 2023

Per the report, Black homeowners saw their home values increase by 42.5% for overall home values and 37.8% for white-owned home values. On the other hand, the values of Hispanic and Asian-owned homes increased by 38.3% home is now the smallest it’s been in more than two decades.

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Cleveland Appraisal Blog

OCTOBER 14, 2021

Speaking of things rising, home prices, as well as the prices of most other things, are rising rapidly. Recently, some of my well-intentioned clients have asked if it is possible to appraise a home, based upon a “normal market”. On many of my appraisals at that time, my opinion of value would not support the contract price.

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D Fritz Appraisals

DECEMBER 16, 2022

In early January each year, every home in British Columbia receives its property tax assessment notice through the mail from BC Assessment. Some property owners may be surprised and possibly even concerned with their home property assessment amount. Between 2021 and 2022, house prices in BC rose by an average of 23.3%

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Boston Appraisal

JANUARY 18, 2023

The Rise in Interest Rates and How It Affects Buyers and Sellers When the COVID-19 pandemic began in early 2020, the Federal Reserve was quick to act by substantially reducing interest rates, which resulted in many new buyers entering the market to purchase a home at low rates. This is no longer the case.

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Robinson Appraisal Group

NOVEMBER 25, 2022

This move allowed lenders to offer rock-bottom interest rates, tumbling to the mid-2% range by the summer of 2021. The low rates coupled with the available housing supply being low caused even further price increases in home values. appeared first on The Robinson Appraisal Group, LLC.

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Listing Spark

MARCH 15, 2022

Here are a few tips on how to avoid hurting your home appraisal: What is a home appraisal? Home appraisals are a method by which an appraiser reviews a home and compares them to homes in a specific neighborhood to determine their fair market price. What hurts a home appraisal?

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Housing Wire

NOVEMBER 1, 2023

The senior data scientist at appraisal tech startup True Footage previously worked at REX , a mostly defunct discount brokerage that charged seller fees as low as 2.5% Through statistical controls and the exclusion of properties without commission data, within the top or bottom 5% of home values, without a completed structure, etc.,

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Appraisal Today

FEBRUARY 23, 2024

I find myself scouring 2021 onward especially. The truth is there are portions of 2021 and 2022 where prices are exactly the same as today too, so if I use an older comp, I don’t always need to adjust for the way the market has changed. I appraise a lot of 2-4 units and regularly go to other neighborhoods for comps. Not for me!

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Empire Appraisal Group

NOVEMBER 23, 2022

One year earlier in 3Q 2021, Opendoor reported a loss of $57 million. In one example cited, Opendoor paid $779,000 for a Denver home on April 20 and, six months later, sold it for $625,000 – $154,000 less, minus any costs to get the home ready for market but also not including any fees paid by the seller.

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Eppraisal

JUNE 8, 2021

According to Realtor.com's April 2021 Monthly Housing Market Trends Report, the national inventory of active listings declined by 53% over last year. The report also indicates that homes are selling at historical speed, with the time on the market for a typical listing dropping down to a low of 43%. Home values have risen.

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Eppraisal

APRIL 20, 2021

Due in part to the inventory of available homes for sale being historically low, it was low at the end of 2019 and continues to drop. According to a homebuyinginstitute.com article, in February of 2021, there were fewer home for sale than in February 2020. With limited inventory, home values are on the rise.

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Empire Appraisal Group

JUNE 16, 2022

In 2021, the inbound number was 210. Census Bureau data and moveBuddha proprietary data, as well as Zillow’s Home Value Index and Florida Housing Data. In 2021, that number surged to 210 inbound residents for every 100 who left, meaning more than twice as many people moved into the state than left it. By Kelly Hayes.

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Eppraisal

MAY 12, 2021

NAR statistics cite that across the country the average number of offers on an existing home is between two and six. According to Zillow.com the average home value will rise as high as 13.5% by mid-2021 and end up 10.5% Buyers are even using escalation clauses with their offers to purchase a home.

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Eppraisal

SEPTEMBER 22, 2021

According to an article on Bankrate.com, written by Jeff Ostrowski, "Mortgage rates plumbed to new depths in January 2021, setting all-time lows south of 3 percent." Even though home values and sales prices are rising, appraisers are keeping a tighter reign on appraisals. in March of 2021.

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