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

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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Housing Wire

APRIL 13, 2021

Rapidly accelerating home prices come with a variety of challenges for lenders and real estate agents, including one of the biggest pain points right now — the appraisal gap. Garrett said aside from cash buyers, he also has clients who have money to offset any appraisal gap. In fact, Austin has just about 1.2

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Appraisal Today

MAY 17, 2024

What Tools Do You Use to Support Your Appraisal Adjustments? By McKissock As part of our monthly survey series, we asked our community of real estate appraisers, “What tool(s) do you use to support your appraisal adjustments?” I have never used any of the appraisal software listed above.

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Housing Wire

NOVEMBER 30, 2023

Your path to real estate licensure begins with 120 hours of classes in an approved Ohio real estate license education program. From completing your required coursework to taking the licensing exam, keep reading to learn how to become a real estate agent in Ohio. Ready to find a real estate brokerage?

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Hank Miller Team

DECEMBER 14, 2022

The typical real estate agent doesn't dabble, they will do whatever necessary to secure their commission. 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.

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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

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. Survey respondents Sales agents accounted for the largest proportion, with 45% of participants holding this license. Only appraisers do the appraisals. Read the full report.

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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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Empire Appraisal Group

FEBRUARY 29, 2024

Lusky, DigitalVision, Getty Images Source: [link] FSBO Sellers Regret Not Having an Agent By Melissa Dittmann Tracey Survey: Sellers who go-it alone are twice as likely to be unsatisfied with the experience – and more likely to say their earlier opinion, “agents are overpaid,” was wrong.

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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

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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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

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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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 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. At that time, the real estate market was still being wildly affected by the COVID pandemic. The post is long.

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Hank Miller Team

JULY 7, 2022

The great Atlanta real estate market adjustment of 2022 is upon us. As everything shifts, the main players are whispering around the water cooler.will low appraisals be a problem now? No More Appraisal Gimmies The real estate market coming out of Covid from about fall of 2020 through spring of 2022 was an anomaly.

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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

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

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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Raleigh Realty

JULY 31, 2022

This is one of the steps that happen after you go under contract and sometimes can happen prior to. At the end of this inspection period repairs, financial concessions, or other negotiations may occur before entering the final phase of the contract. What is the cost of a home inspection?

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Appraisal Today

JULY 8, 2022

as a Model for Appraisals. appraiser roster is a coveted position for most residential appraisers. appraiser) says the V.A. pays higher appraisal fees. doesn’t use Appraisal Management Companies (AMCs). does not use AMCs allows them to pay more directly to the appraiser, according to Rocha.

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Appraisal Today

JUNE 17, 2022

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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Appraisal Today

JULY 1, 2022

Excerpts: Appraisers, this article was prompted by my ‘coming in contact with several appraisal reports where different regional appraisers report the physical location of the subject property “in” a particular City associated with the postal ZIP Code for that City. Appraisal Business Tips . Humor for Appraisers.

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Appraisal Today

JANUARY 27, 2023

Appraisal Changes By Dan Bradley Excerpts: On January 18, 2023, HUD issued an announcement regarding revisions made to Handbook 4000.1. The most significant of these revisions was the elimination of the requirement to include the 1004MC form as an attachment to the appraisal report. How much do appraisers contribute?

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Appraisal Today

NOVEMBER 20, 2022

Sins of the Past Are Back to Haunt Appraisers. Fannie Mae Takes A Closer Look at Appraisals. Excerpts: In the recent past, when appraisers were swamped. Even with the Collateral Underwriter program review, appraisers were overwhelmed. Tier 1 appraisers have little to fear but tier 2 and 3 appraisers….

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Housing Wire

FEBRUARY 7, 2023

The Federal Reserve (Fed) actions that resulted in millions of borrowers receiving mortgage rates below 4% gave way to Fed actions that… triggered mortgage rates to rise above 7% in the fall of 2022. The fees are typically lower than in new loans, and no appraisal is needed. Tozer suggested “a fee of 1.3%

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Appraisal Today

JULY 22, 2022

Fannie’s New ANSI FAQS July 2022. When common practice in the local market differs from the ANSI standard, can the appraiser modify the subject’s GLA to conform to local custom? Will appraiser adherence to the ANSI standard cause confusion when the subject GLA differs from other sources such as MLS or public record?

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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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Appraisal Today

OCTOBER 14, 2022

Appraisal Risk, Reviews, and Revisions. Excerpts: This is part three of a three part series on appraisal review – Read parts one and two. I am often posed with the following question “How do you know when you are looking at a “good” appraisal?” Appraisers and AMCs spend less time and have fewer hassles. By Ken Dicks.

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Appraisal Today

APRIL 28, 2023

Appraising Solar Panels By Mark Buhler Excerpts: You drive up to the property. First: How do appraisers value any amenity of a property? Appraisal 101 would suggest the matched pairs analysis. Excerpts from text: No two real estate appraisal assignments are alike. What to do? Those are certainly options.

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Appraisal Today

MARCH 31, 2023

Fannie Mae: Appraisals are no longer the default option: Value Acceptance replaces Appraisal Waiver Fannie Mae updated its Selling Guide on March 1 to include more options for property valuations, saying that they are “moving away from implying that an appraisal is a default requirement.” Fannie sells their loans to investors.

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Appraisal Today

SEPTEMBER 2, 2022

How to Handle Appraisal Pressure and Stay Ethical? Excerpts: There’s no simple and easy way to deal with appraisal pressure. A major source of frustration for appraisers is the realization that clients do not have to follow USPAP. The ethical and performance requirements of USPAP apply only to appraisers, not to clients.

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Housing Wire

DECEMBER 1, 2022

” Fannie Mae also had a gloomy outlook for the housing market next year , citing lower home sales and mortgage origination activity compared to 2022 amid elevated mortgage rates. Philadelphia – Homebuilders reported that contract signings for new homes plunged after declining slightly in the prior period. million in 2023 from 5.67

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Appraisal Today

JANUARY 20, 2023

Top Ten Reasons Why It Is Great to be an Appraiser! Appraisal Business Tips Click here to subscribe to our FREE weekly appraiser email newsletter and get the latest appraisal news!! To read more, click here My comments: It has been a while since appraisers made negative concession adjustments.

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Appraisal Today

AUGUST 19, 2022

What to Do When Your Appraisal Is Under Review. The number one mistake is that the appraiser did not include the lender’s specific report requirements,” Nakashima confirms. My comments : Worth reading if you do lender appraisals. Some good tips for reviewing your non-lender appraisals. Review appraiser liability.

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Appraisal Today

SEPTEMBER 23, 2022

Sellers Chasing the ball down the road in real estate. Excerpts: Commentary from a (Ryan) appraisal: Here is a bit of commentary in one of my recent appraisal reports. I remember the easy days of market condition adjustments 1% per month up or down, for example, to apply to all detached home appraisals.

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