Appraisal Buzz

MAY 12, 2022

The Q1 2022 U.S. of mortgaged residential properties in the United States were considered equity-rich in the first quarter, meaning that the combined estimated amount of loan balances secured by those properties was no more than 50% of their homes estimated market values.

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Mortgage Market Value Appraisal Marketing 150

Lamacchia Realty

MARCH 17, 2023

WHAT IS THE DIFFERENCE BETWEEN ASSESSED VALUE AND MARKET VALUE? Two terms that often come up when buying or selling property are assessed value and market value. While these terms may seem similar, they actually represent two different values that can affect the pricing of a property.

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Appraisal Buzz

JULY 18, 2022

Unless you’re living under a rock, you have heard that interest rates have been rapidly increasing since Q1 of 2022. It consistently climbed to 3.76% as of March 3, 2022, and as of the date I’m writing this, it is 5.81%. I was in the market for about a month and placed an offer of $270,000 on a $285,000 listing. 1] [link]. [2]

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Appraisal Hub

NOVEMBER 23, 2022

The Toronto housing market is slowing down, showing a 6% decline in October 2022 compared to the same period last year. Now might be the best time to sell your home and avoid further falls in the market. But to ensure that your property is sold for fair market value, you’ll need the guidance of a reliable appraisal company.

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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 Contracts Architecture Housing Market 52

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?” A few sample appraiser comments: “I am capable of determining the adjustments without any software.

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DW Slater Company

JANUARY 29, 2022

Ready or not 2022 is here! This year was extraordinary with home price appreciation double digits in all our North Texas markets. New construction has boomed in our area as the number of new home builds was up 77% in 2021 and this is not expected to slow down in 2022. Here is a historic look at our markets from 10 years ago.

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Appraisal Buzz

AUGUST 4, 2022

ATTOM has released its Q2 2022 U.S. were considered equity-rich in Q2, meaning that the combined estimated amount of loan balances secured by those properties was no more than 50% of their estimated market values. The post Share of Seriously Underwater Mortgages Slips Below 3% appeared first on Appraisal Buzz.

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Mortgage Market Value Appraisal Marketing 195

Cleveland Appraisal Blog

OCTOBER 12, 2022

When appraising a property, I usually look to see if there is any information on Zillow about the property I am appraising. Because sometimes as appraisers, we miss comparable sales. In most cases, my clients looked at sales on Zillow and were of the opinion that my opinion of their property’s market value was too high.

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Simonson Real Estate

DECEMBER 6, 2022

In 2022, Simonson Appraisals completed a steady stream of financing assignments with planned new construction or significant proposed renovations. Below are are several key points from my presentation titled Navigating the Appraisal Process that’s been presented several times to the U.S. What property should be appraised?

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Appraisal Process Real Estate Appraisal Renovations 78

DataMaster

JUNE 15, 2023

Note: This blog post about short-term rentals was originally posted on Class Valuation’s site on May 11, 2022. What do short-term rentals mean for appraisers? Lenders and clients will be looking for an appraisal to secure a loan on the STR. This is often considered a Debt Service Coverage Ratio (DSCR) Loan.

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Appraisal Tenants Investors Business 148

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 Construction Contracts Architecture 78

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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Cleveland Appraisal Blog

JANUARY 5, 2023

I’ve noticed recently that when I call real estate agents to confirm information about properties I am using in my appraisal, almost every agent answers their phone and if they don’t, even if I don’t leave a message, they call me back. In June of 2022, the list-to-sales price ratio was 103%. I appreciate you!

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Housing Market Marketing Appraisal Inventory 369

Birmingham Appraisal

MARCH 26, 2024

A Different Market I think we can all agree that the real estate market we are currently in, as of the writing of this post, is not the same one we were in from 2020 to 2022. The market dynamics have changed namely interest rates. Appraisal Process To answer this it’s important to understand the appraisal process.

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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.”

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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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Birmingham Appraisal

MARCH 21, 2023

A Look at How Market Trends are used in the Real Estate Appraisal Process The real estate market is constantly changing, and market trends play a crucial role in helping an appraiser determine property values. A real estate appraisal is a process of determining the market value of a property.

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Appraisal Buzz

MAY 12, 2022

ATTOM released its Q1 of 2022 U.S. were considered equity-rich in the first quarter, meaning that the combined estimated amount of loan balances secured by those properties was no more than 50 percent of their homes estimated market values. Mortgages Considered Equity-Rich appeared first on Appraisal Buzz.

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Mortgage Market Value Appraisal Marketing 150

Appraisal Today

NOVEMBER 25, 2022

More Crazy Appraisal Stories! Excerpt: Restraining Orders & Appraisals – Never a Great Mix. The majority of my appraisal work is on divorces and estates, both of which have their fair share of crazy stories. I was appraising a home for a divorce several years ago. Many thanks to Appraisal Buzz for the image above.

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Appraisal Market Value Contracts Finance 52

Appraisal Buzz

SEPTEMBER 26, 2022

This article was originally published in the latest edition of the Fall 2022 Appraisal Buzz Magazine! Once upon a time, there was a rich nation which valued many things. They all liked value. We have rules, we have standards, and we all know the exact definition of value. Let’s pretend market value is market value.

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Market Value Sellers Buyers Finance 321

Housing Wire

AUGUST 4, 2022

The multichannel lender cut its workforce across centralized operations and branches, eliminating processors, underwriters, appraisers and the support team, in several rounds in the second and third quarters of 2022, former employees told HousingWire. . Between March 2021 and March 2022, the company cut 598 jobs onshore and offshore.

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Finance Retail Business Mortgage 386

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 Contracts Real Estate Mortgage 78

Cleveland Appraisal Blog

JANUARY 19, 2023

The Appraisal of Real Estate, fifteenth edition on page 352, states that “…the relationship between land and improvements and the relationship between a property and its environment must be in balance for a property to achieve its optimum market value. What do these things indicate? That is not always a simple task.

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Appraisal Buyers Transportation Real Estate 284

Cleveland Appraisal Blog

JANUARY 13, 2022

If you’re an appraiser, like I am, the nature of our work can at times cause us to become skeptical. But, it happens enough that it can create a little skepticism in the minds of an appraiser. In this article, I am going to focus on the dangers that skepticism can have on an appraiser’s thinking. ADJUSTMENTS.

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DataMaster

JUNE 15, 2023

Note: This blog post about short-term rentals was originally posted on Class Valuation’s site on May 11, 2022. What do short-term rentals mean for appraisers? Lenders and clients will be looking for an appraisal to secure a loan on the STR. This is often considered a Debt Service Coverage Ratio (DSCR) Loan.

Appraisal 78

Appraisal Tenants Investors Business 78

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. There were no “better comps” to be used.

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Cleveland Appraisal Blog

JULY 6, 2022

In one Facebook group the other day, (yes, I’m back on Facebook ) one member mentioned they feel that a person who scans a property to provide an appraiser with a floor plan should be licensed. WHAT IS AN APPRAISAL INSPECTION? I think it’s important to understand what an appraisal inspection is. What do you think?

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Inspection Appraisal Technology Clients 369

Housing Wire

JULY 6, 2022

PennyMac Mortgage Investment Trust, a real estate investment trust (REIT), recently issued $305 million in Fannie Mae MSR-backed notes to “qualified institutional buyers” via an offering dubbed Series 2022-FT1, PFSI’s SEC filing shows. The post Pennymac launches two MSR-backed private offerings appeared first on HousingWire.

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Investing Finance Mortgage Market Value 339

Cleveland Appraisal Blog

DECEMBER 10, 2022

This week, Betty White shares some things that can decrease property value. As a certified residential appraiser, I can tell you that while some of the things noted in this report can decrease value, they may not, so take these points with a grain of salt. Betty is not an appraiser. 3 Unappealing home exterior.

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Appraisal Buyers Renovations Investing 298

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. Blame the market, not that the home was overpriced. The appraiser’s word is final, the agent needs to get it done.

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Appraisal Real Estate Agent Contracts Agents 52

Appraisal Today

SEPTEMBER 9, 2022

Appraisers are still required to comply with USPAP when responding to an ROV request, including the confidential nature of assignment results. My comments : ROVs are a PITA for many appraisers. Greg Stephens is a very experienced appraiser and reviewer. Reconsideration of Appraised Value. Appraisal Business Tips

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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

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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DW Slater Company

DECEMBER 23, 2021

Appraiser’s Corner. Check out this month’s information just for real estate appraisers. Next month’s webinar is with Timothy Anderson, discussing Highest and Best Use and Market Value. Appraiser ELearning Free Monthly Webinar. This will go into affect on April 1, 2022. Tarrant County.

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Real Estate Appraisal Market Value Mortgage 152

Dart Appraisal

JULY 26, 2022

DART APPRAISAL SUPPORTING. In 2017, Freddie Mac introduced Loan Product Advisor® (LPA SM ) automated collateral evaluation (ACE), an appraisal alternative, to save eligible borrowers time and money in the home-buying or refinance process. That’s where Dart Appraisal is here to help.

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