Appraisal Today

OCTOBER 7, 2022

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.

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Appraisal Today

MARCH 1, 2024

Whether you’re looking to specialize in luxury home appraisals or you’re simply reading up on the latest market trends, you may want to pay attention to areas where luxury homes are in high demand. I have been thinking for a while about including appraising luxury homes, since my subscribers like to read about them.

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Appraisal Today

APRIL 5, 2024

Why an Organized Workfile is Your Best Defense By Craig Capilla Excerpts: We all know that the Uniform Standards of Professional Appraisal Practice (USPAP) set the baseline for what must be included in a workfile. Still, all too many appraisers seek only to meet that minimum standard and little more. Newer appraisers are lucky.

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McKissock

MARCH 29, 2022

McKissock’s Unlimited Learning Members enjoy 24/7 access to a wide variety of online appraisal classes, webinars, videos, podcasts, checklists, job aids, and other resources. Plus, we’re adding to our library each month so that you get the most current and relevant information to grow your real estate appraisal career. Sign up now.

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Housing Wire

SEPTEMBER 25, 2023

The firm’s legal troubles began in late 2022 when it was sued by attorneys general in Florida , Massachusetts and Pennsylvania over its 40-year contracts. If the homeowner breaks the agreement or decides to terminate it early, they must pay the firm 6% of the appraised value of the home.

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Appraisal Buzz

MARCH 31, 2022

is launching its first mortgage futures contracts on June 13, 2022, subject to regulatory approval. The two futures contracts will be cash-settled and based on the ICE U.S. Residential Mortgage Rate Lock Index Futures appeared first on Appraisal Buzz. Intercontinental Exchange Inc. The post ICE Introduces U.S.

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Appraisal Today

APRIL 12, 2024

Desktop Appraisals: Who, When, and Why Excerpts: The ability to identify property characteristics without a personal inspection is not a new concept. Similarly, while not identical, appraisers generally use the cited sources above to identify the physical characteristics of comparable sales in their appraisals.

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Appraisal Buzz

JUNE 16, 2022

The compounding effects of elevated inflation and higher interest rates are expected to further weigh on economic growth and home sales as the year progresses, with full-year 2022 growth now forecast at a slightly reduced 1.2% The market’s expectations of the necessary Federal Reserve response to persistent broad-based. “The

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Empire Appraisal Group

NOVEMBER 3, 2022

More than a quarter of real estate professionals say they avoid having any interaction with an appraiser, falsely believing they legally can’t. Source: Can You Talk to an Appraiser? The survey of more than 600 appraisers and 2,500 residential real estate pros was conducted in May. The post Can You Talk to an Appraiser?

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Appraisal Today

MARCH 22, 2024

Appraisal Business Tips Humor for Appraisers Click here to subscribe to our FREE weekly appraiser email newsletter and get the latest appraisal news!! It’s been on and off the market since 2022, with a top asking price of $33.8 And some tips on how to keep your appraisal credentials safe.

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Appraisal Today

DECEMBER 1, 2023

Today I have some thoughts about location, comp selection, and lenders freaking out when schools are mentioned in appraisal reports. Appraisal Business Tips Humor for Appraisers Click here to subscribe to our FREE weekly appraiser email newsletter and get the latest appraisal news!! baths, 2,991 square feet, 0.34

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Appraisal Today

SEPTEMBER 15, 2023

NAR Appraiser Survey July, 2023 In July 2023, NAR Research conducted a survey of all 9,800 appraiser members and 50,000 randomly-selected residential-focused non-appraiser members. The survey results had a comparison of 2022 and 2023, which was very interesting. Fortunately, appraiser results are in the first section.

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Appraisal Today

FEBRUARY 9, 2024

How do appraisers consider appliances? also clarifies when appliances are required to be operational by stating, “Appliances that are to remain and that contribute to the market value opinion must be operational,” and, “The Appraiser must note all appliances that remain and contribute to the Market Value.” FHA Handbook 4000.1

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Appraisal Today

SEPTEMBER 8, 2023

Problems When Appraising Airbnb & VRBO Properties by Richard Hagar, SRA Excerpts: Residential appraisers are being asked to appraise these properties, along with their elevated income, as “typical” residential properties. He is one of my go-to appraisers for these types of issues. He is an excellent teacher.

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Appraisal Today

AUGUST 18, 2023

7 Must-Have Apps for Appraisers By: McKissock Excerpts: 1. Dragon is very well-liked among appraisal professionals, making it number one on our list of must-have apps for appraisers. Genius Scan This app gets a lot of love from appraisers. Dragon has been around a long time and is popular with commercial appraisers.

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Housing Wire

FEBRUARY 3, 2023

The loan program can’t be extended, relocked or renegotiated until after the lender receives a fully executed sales contract and is only eligible for up to 30 days of extension. billion in volume in 2022, down 56% from the previous year’s production of $78.13 Guaranteed Rate originated $34.38 Guaranteed Rate originated $34.38

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Appraisal Today

JANUARY 12, 2024

FHFA Report: Underutilization of Appraisal Time Adjustments Published: 1/8/2024 Excerpts: Fannie Mae, Freddie Mac, and Federal Housing Administration appraisal guidelines require such adjustments whenever market conditions have been changing. They are one of the easiest adjustments to make. My market is very volatile.

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Appraisal Buzz

AUGUST 29, 2022

Home prices continued to rise by over 20% between the spring of 2021 and the spring of 2022. However, as of early 2022, the nation had a deficit of 3.8 Appraisals. Potential deals fall through since home offers have been higher than appraisal values. This was due to an all-time housing shortage. Employment.

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Appraisal Today

SEPTEMBER 22, 2023

NAR Member Survey on Data Collectors Excerpts: In May 2023, NAR surveyed its members pertaining to data collectors in the appraisal process. Brokers followed with 24%, and appraisal-certified professionals comprised 14% of the respondents. I am working on an article on Hybrid Appraisals for the November issue of Appraisal Today.

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Appraisal Today

AUGUST 13, 2023

ChatGPT: Valuable Tool or a Replacement for Real Estate Appraisers? I have not had time to use it, but have been reading and watching demos about how it can be used for appraisers for awhile. Appraisers there regularly value homes with small vineyards, sometimes leased to wine makers. Isn’t that Just PAVEY!

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McKissock

OCTOBER 15, 2021

The official 2022-2023 Online Update Course for Uniform Standards of Professional Appraisal Practice (USPAP), now available online , comes with a first-of-its-kind reference manual designed to help you quickly find answers to your USPAP-related questions. The following outlines some of the reference manual features. Organization.

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Appraisal Today

SEPTEMBER 1, 2023

Appraising Odd Properties: What’s the Weirdest Property You’ve Appraised Recently? McKissock Survey Excerpts: As a professional appraiser, you’ll likely encounter some strange properties from time to time. If the appraisal is for lending purposes, be sure to find out if it is “lendable” before spending much time on it.

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Appraisal Today

DECEMBER 15, 2023

The UAD and Appraisers – Past, Present, and Future Appraisal Business Tips Humor for Appraisers Click here to subscribe to our FREE weekly appraiser email newsletter and get the latest appraisal news!! Lenders and fee appraisers have done this for decades. Few new appraisers.

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Appraisal Today

OCTOBER 6, 2023

2024 USPAP Source: Appraisal Foundation The 2024 Uniform Standards of Professional Appraisal Practice is now available for purchase in physical and digital formats. When USPAP started, it was very exciting as appraisers had to decide what needed to be changed or added. This covers all Definitions, Rules, and Standards.

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Appraisal Today

JULY 1, 2023

Lenders Not Using AMCs for Appraisals By: McKissock June 23, 2023 Excerpts: Some appraisers seek alternate ways to find work outside of appraisal management companies (AMCs). Below are helpful tips on how to find financial institutions and banks that engage appraisers directly on fee panels. More Crazy Appraiser Stories!

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Appraisal Buzz

SEPTEMBER 27, 2022

In another new sign of the times, roughly 64,000 home-purchase agreements fell through in August 2022 according to Redfin, a number equal to 15.2% of all homes that went under contract that month. The post Sunbelt Reports Record Purchase Backouts appeared first on Appraisal Buzz. To put it another way, that number is up 12.1%

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Appraisal Today

OCTOBER 13, 2023

How to Level Up as an Appraiser By Conrad Meertins Jr. 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? For example, you understand that you do not need a form to produce an appraisal. Are your legs shaking?

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Appraisal Today

DECEMBER 2, 2022

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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Appraisal Today

JULY 7, 2023

Appraiser Countersues Black Plaintiffs Who Alleged Discrimination by Isaac Peck, Publisher WorkingRE There are now a number of lawsuits facing appraisers where the primary allegation is racial discrimination. Filed in August 2022 in the U.S. Of course, some appraisers could be biased. Tate-Austin v. Shane Lanham et al.

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Cleveland Appraisal Blog

NOVEMBER 14, 2022

Cleveland Appraisal Blog shares some tips. To ensure that all parties are in agreement, you should compose contracts for all contractors and clients you do business with. You might write and revise these contracts in Word, but once they’re done, you should use a Word-to-PDF converter. Obtain the right qualifications.

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Appraisal Today

DECEMBER 8, 2023

OK to average adjusted comps on appraisal? Basic Appraisal, but not all appraisers know about this, especially if they “appraise to fit the form” aka form fillers. Worth reading, plus the appraiser comments. Click here = Appraisers vs. Lenders. One of the best I have read. What Can We Do?

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Appraisal Today

OCTOBER 20, 2023

Fannie Mae Filed a Complaint Against Me October 18, 2023 Excerpts: In June of 2021, I completed an appraisal for a conventional purchase. The appraisal was ordered by an AMC on behalf of a lender. The AMC stated that the lender indicated the appraisal received a high risk score by Fannie Mae. The post is long.

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Appraisal Today

OCTOBER 27, 2023

Strange Encounters in Property Appraisal By: McKissock Excerpts: Property appraisal is not typically thought of as a “dangerous” profession per se. Recently we asked our appraisal community, “What’s the weirdest property you’ve appraised recently?” I worked for an assessor’s office for 5 years in my first appraisal job.

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Cleveland Appraisal Blog

MAY 18, 2023

In April, we are at the same level of total active listings that we have seen in 2021 & 2022. I just appraised a home in Parma with forty-three offers in four days. And I found sales that supported the contract price that had sold within the past month. But when appraising properties, I am seeing many homes sell much faster.

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DataMaster

JANUARY 15, 2021

Appraising in 2021. We wonder, will appraisers stay as busy as ever? We wonder, will appraisers stay as busy as ever? Will appraising in 2021 be better or worse than in 2020? With all of this selling going on, appraising in 2021 will stay strong! It’s a seller’s market! How will it fare?

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Housing Wire

JULY 3, 2023

billion in Q1 2022 (which was roughly in line with industry peers). from the fourth quarter of 2022’s $2.04 PrimeLending, led by president and CEO Steve Thompson, ranked as the 34th largest mortgage lender in the first quarter of 2023, with an estimated origination volume of $1.73 billion, a 54% decline from $3.76

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Hank Miller Team

DECEMBER 14, 2022

Someone certain to be on the radar of all is the appraiser; sometimes an ally, sometimes an enemy. Home Sellers & Appraisers When an owner decides to list, their first move to solicit a real estate agent. Some agents recommend an appraisal prior to listing, they don’t want to deliver “bad news” so they let the appraiser do it.

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