Cleveland Appraisal Blog

SEPTEMBER 2, 2022

Have you ever read thru an appraisal report? You may have noticed that there are three approaches to value. The Sales Comparison Approach, the Cost Approach, and the Income Approach. Even if I do not include my development of the Cost Approach in my report, I have it in my work file.

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Cleveland Appraisal Blog

MAY 26, 2023

Most weeks I perform appraisals for divorce or a marriage dissolution. In recent years, on several occasions, I have been hired to appraise a property after a valuation service was provided for my client by another real estate professional. But then they had to hire me to perform an appraisal. That’s right!

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Housing Wire

MAY 9, 2023

Appraisal management software company Reggora announced this week the launch of its Appraisal Marketplace, which leverages data managed by the company in an effort to improve appraisal performance. This could lead to “lackluster” turn times, revision rates and fee escalation that the new platform is aiming to address.

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Housing Wire

SEPTEMBER 13, 2023

The Appraisal Institute , the nation’s largest professional association of real estate appraisers, has launched a new program to increase the ranks of veteran and minority appraisers. The Appraisal Institute has been criticized for a lack of diversity in its ranks and acknowledged a need to modernize.

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Housing Wire

AUGUST 22, 2023

The Mortgage Bankers Association (MBA) and the Consumer Bankers Association (CBA) sent a letter to regulators on Monday warning of the “unintended consequences” of new quality control standards for automated valuation models (AVMs). The MBA and the CBA requested an adequate implementation timeline of at least 12 months.

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Housing Wire

FEBRUARY 1, 2022

With no end in sight to the high demand for housing, the real estate industry faces a serious problem: a dwindling pool of appraisers. HousingWire recently spoke to Chris Knight, CEO and Gabriel Hern, President of Opteon , which consists of a partnered AMC and staff appraiser firm. I began my career as an appraiser in Australia.

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Housing Wire

JANUARY 17, 2024

Mortgage Matchup will continue to be a consumer-facing website focused on homebuyers and real estate agents and offer educational material around the home buying and refinancing processes, along with a database of independent mortgage brokers near them, said UWM in a news release Wednesday. Of the total, $29.7 billion and $33.5

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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) To receive this subscription directly, click here.

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Housing Wire

APRIL 20, 2023

The key to appraisal modernization is wide-spread adoption, and alongside CoreLogic, we are expanding access to modern appraisal tools with the aim of pushing the mortgage industry closer to this new standard,” Kenon Chen , Clear Capital’s executive vice president of strategy and growth, said in a statement. “We

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Housing Wire

NOVEMBER 30, 2023

Editor in Chief Sarah Wheeler sat down with Kenon Chen, executive vice president of strategy and growth at Clear Capital , to talk about appraisal modernization and how technology is just part of the solution. SW: How are appraisers adapting to some of these challenges, including new rules on valuations from the GSEs?

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Appraisal Buzz

DECEMBER 20, 2021

It quickly became apparent that the health risk would prevent professional fee appraisers from entering properties in order to inspect them for their appraisal reports. Without accurate collateral valuation, lenders could not properly underwrite new loans. The impact on the appraisal business lasted all year.

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Appraisal Buzz

APRIL 19, 2024

FormFree has enhanced its Passport Wallet solution by adding a new user interface that makes it easier for consumers to understand their ability to pay and match with lenders. Photo: Bruce Mars The post FormFree Enhances Passport Wallet appeared The post FormFree Enhances Passport Wallet appeared first on Appraisal Buzz.

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Housing Wire

APRIL 30, 2022

With advances in automation bolstering speed and accuracy in other fields, some within the industry believe that technology should reduce or eliminate the role of appraisers. Opteon, a cutting-edge appraisal provider, offers an alternative solution and a bold vision of same-day turn times. “We But is it truly the best way forward??.

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Housing Wire

MARCH 8, 2024

In return, Hometap receives an agreed-up percentage of the sale price or current appraised value. “We We do see this as a new asset class in the real estate ecosystem and we see it as complementary to traditional debt options that exist today,” Dan Burnett, head of investor product at Hometap, said in an interview with HousingWire.

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Appraisal Buzz

APRIL 2, 2024

Ryan Minard is the new senior sales engineer for Mobility Market Intelligence (MMI), offering data intelligence and market insight tools for the mortgage and real estate industries. He leads the discovery process to translate findings into product demonstrations and develop tailored solutions for clients, bolstering net-new sales endeavors.

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Housing Wire

DECEMBER 7, 2021

Fortunately, many of the tech solutions that were born out of the pandemic are here to stay, including desktop appraisals which the Federal Housing Finance Agency recently announced will become permanent. . “On With desktop appraisals now a permanent option, we should expect to see some of the traditional pressure on turn times alleviated.

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Housing Wire

APRIL 30, 2022

In February 2022, Fannie Mae and Freddie Mac added 1004 Desktop/70D Appraisal products to their Selling Guide for new purchase loans. However, for lenders to take advantage of these benefits on behalf of their customers, they need to navigate new GSE requirements, such as ensuring appraisers have access to a digital floor plan.”.

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Appraisal Buzz

JULY 14, 2021

The post Joe Ludlow: Lenders Need Knowledge and Expertise to Capitalize on the Purchase Market appeared first on Appraisal Buzz. But demand is strong and opportunity abounds. So what do lenders need.

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Housing Wire

JANUARY 25, 2022

With the recent news about desktop appraisals, appraisal technology is top of mind for many. HousingWire recently spoke with Reggora co-founder and CTO Will Denslow about the role of technology in appraisal innovation. How will this affect appraisal technology moving forward?

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Appraisal Buzz

DECEMBER 27, 2021

There’s too little supply and too high a demand, a predicament that’s disrupted the housing and appraisal industries. Beginning in January 2020, 7% of purchase transactions had a contract price above the appraisal value. As the appraisal gap widened, the CoreLogic Price Index rose as well, reaching 15% in May of this year.

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Housing Wire

FEBRUARY 4, 2022

The appraisal space has seen its share of challenges and changes in the past two years. Facing the difficult combination of record-breaking volume and a shortage of appraisers, many mortgage and appraisal professionals have turned to appraisal technology solutions.

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Housing Wire

JANUARY 25, 2023

Real estate valuation technology company Clear Capital has conducted a new round of layoffs as part of a company restructuring plan. We’ve been very involved in appraisal modernization [and] investment over the past five years,” Kenon Chen, EVP of corporate strategy at Clear Capital, said. “We’re

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Appraisal Buzz

APRIL 30, 2024

Adapting to Industry Shifts with a New Approach to Collaboration The recent class action settlement proposal by the National Association of Realtors (NAR) is potentially changing how buyer’s real estate agent fees are negotiated. Although it’s a tough scene, it is also ripe with opportunity for the savvy MLO.

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Housing Wire

JULY 12, 2023

United Wholesale Mortgage (UWM) on Wednesday announced two new home-affordability mortgage products designed to help underserved borrowers become homeowners. UWM, America’s top mortgage lender, is offering Special Purpose Credit Programs (SPCP) for Fannie Mae ‘s HomeReady and Freddie Mac ’s BorrowSmart Geo-Target programs.

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Housing Wire

OCTOBER 29, 2021

JPMorgan Chase recently donated $3 million to the Appraiser Diversity Initiative , putting its financial support behind a growing movement to bring more diversity to the residential appraisal field. JPMorgan Chase is taking a comprehensive approach to narrow the racial wealth gap in the U.S., Become a member today.

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Housing Wire

AUGUST 5, 2022

With tech solutions and automation dominating more and more of the mortgage experience, the appraisal process can feel a bit dated, often causing significant slowdowns. HousingWire: Why should lenders consider appraisal modernization and how can it benefit borrowers?

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Housing Wire

AUGUST 31, 2022

Gloudeman’s career in mortgages and financial services will help “modernize compliance strategies for the quickly evolving mortgage landscape” as traditional approaches are falling behind, said Perry Steiner, chairman and CEO of Xactus said. Ross Gloudeman, general counsel and chief compliance officer of Xactus.

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Housing Wire

FEBRUARY 8, 2022

Desktop appraisals arrived in March of 2020, allowing the housing market to keep humming while many stayed indoors to prevent the spread of COVID-19. Allowing appraisals without a walk-through was one of several flexibilities the Federal Housing Finance Agency allowed in light of the pandemic.

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Appraisal Buzz

OCTOBER 11, 2021

Tell someone that you’re a professional fee appraiser and most folks won’t have any idea what that really means. In truth, human appraisers fill two vitally important roles today, (1) we collect information and (2) we analyze it so it can be presented to our clients. Ours is not the only industry where we see this. Think of oral care.

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Birmingham Appraisal

MARCH 26, 2024

This decline in the number of houses sold in some areas has made it difficult to do appraisals because of the lack of comps. They wanted to know if it was okay to use a new construction sale as a comp for an older home. Appraisal Process To answer this it’s important to understand the appraisal process.

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Housing Wire

OCTOBER 1, 2022

If discrimination is committed by appraisers – as the news headlines would suggest – fellow appraisers and real estate agents say they rarely witness or experience it. Another issue with appraiser competency could be appraisers’ apparent lack of familiarity with valuation tools.

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Housing Wire

MARCH 17, 2023

Future development projects will follow this collaborative approach with our clients and strategic partners. Future development projects will follow this collaborative approach with our clients and strategic partners. The company had plans to develop automated appraisals as well as title insurance processes.

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Appraisal Hub

JANUARY 19, 2024

As a subject expert in commercial real estate appraisals, I’ll guide you through the three primary approaches to determining property value. These methods are essential tools used by professional appraisal firms, like the renowned Appraisal Hub Inc. in Toronto, to provide accurate and reliable appraisal services.

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Appraisal Buzz

OCTOBER 18, 2021

This article was originally published in the Fall 2021 Appraisal Buzz Magazine here. Our profession has been abuzz the last year or two with regards to the GSEs being mandated to modernize the appraisal profession. Why are appraisers essentially being excluded from the conversation about modernizing the profession?

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Appraisal Buzz

DECEMBER 6, 2021

The shortage of appraisers within the industry has been well publicized recently and no doubt plenty of you reading this article have experienced the impact of this shortage first hand. According to the Appraiser Institute , more than 10,000 appraisers have left the industry since 2013. AMCs Driving Tech Innovation .

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Birmingham Appraisal

MARCH 26, 2024

This decline in the number of houses sold in some areas has made it difficult to do appraisals because of the lack of comps. They wanted to know if it was okay to use new construction sales in an appraisal of an older home. Appraisal Process To answer this it’s important to understand the appraisal process.

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Housing Wire

NOVEMBER 18, 2021

While having core systems in place is important, no matter how good a lender’s process is, if there’s an issue with the appraisal, everything could be compromised. While having core systems in place is important, no matter how good a lender’s process is, if there’s an issue with the appraisal, everything could be compromised.

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