Cleveland Appraisal Blog

NOVEMBER 3, 2022

Most appraisers are experiencing a significant slowdown in mortgage lending work due to rapidly increasing mortgage rates which are slowing down the housing market. I have seen a slowdown in my lending work also. Half my work is non-lending work, and that’s been a blessing. I think potential clients appreciate this.

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Business Appraisal Real Estate Agent Clients 393

Housing Wire

JUNE 11, 2021

Purchase originations require enhanced communication with clients and typically take longer to reach the finish line. And there’s one lending partner that has the solutions and resources to give LOs just that. From the onset of the purchase market’s acceleration, the appraisal process presented multiple frustrations for brokers.

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Appraisal Clients Insurance Lending 305

Cleveland Appraisal Blog

OCTOBER 29, 2021

To make this determination, the appraiser must first determine the Highest and Best Use of the land. Therefore, for each sale, we must develop a reliable opinion of the value of its land. We’ve just developed the total economic life for one of the sales. That is when the appraisal is developed correctly.

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Appraisal Development Finance Lending 365

AmeriMac

MARCH 15, 2024

Appraisal Management Companies (AMCs) play a crucial role in the real estate industry by providing independent appraisal services to lenders and other clients. While most people are familiar with the concept of an appraiser, many may not be aware of the important role that AMCs play in the appraisal process.

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Appraisal Appraisal Process Valuation Real Estate 36

Birmingham Appraisal

FEBRUARY 20, 2024

Appraiser and Agent Collaboration is a Good Thing The importance of collaboration between real estate agents and appraisers can be a touchy subject. On one hand, the real estate agent’s main goal is to advocate for their client while the appraiser must be an impartial and non-biased third party.

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Agents Appraisal Real Estate Agent Bracketing 86

Birmingham Appraisal

AUGUST 2, 2023

This ensures that the appraiser has undergone rigorous training, meets the state’s education requirements, and follows ethical guidelines in their practice. A licensed appraiser demonstrates commitment and accountability to their clients and the industry.

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Appraisal Agents Valuation Real Estate 70

Birmingham Appraisal

SEPTEMBER 15, 2022

What is a Mortgage Appraisal? A mortgage appraisal is an appraisal that is done for mortgage lending purposes. Lenders, including banks and mortgage companies, require an appraisal to justify the loan they are making. Steps in the Appraisal Process.

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Appraisal Inspection Appraisal Process Real Estate Agent 90

Raleigh Realty

FEBRUARY 19, 2022

Mortgage lenders will almost always require a home appraisal when buyers apply for a loan, as lenders want to ensure the buyer isn’t overpaying for the home. Mortgage lenders do not want to lend more money for a home than the home is worth. Department of Housing and Urban Development (HUD) or the Consumer Financial Protection Bureau.

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Appraisal Appraisal Process Real Estate Agent Renovations 148

Clear Capital

NOVEMBER 14, 2022

Delays in responding to revision requests can have a serious impact on all lending parties during the review process. In a volatile market where interest rates are constantly changing, an appraised value can sometimes trigger a renegotiation. Reduce lengthy commentary. Do careful pre-inspection research. Eliminate surprises.

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Appraisal Lending Bracketing Appraisal Process 69

Simonson Real Estate

JUNE 10, 2020

It’s the outcome we strive for following the appraisal process. As an appraiser, it means we nailed that sweet spot and produced an accurate appraisal. Thankfully, our hard work at Simonson Appraisals nearly always pays off. “No news is good news” is more than just a saying. Bottom Line. Contact him today!

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Real Estate Appraisal Clients Valuation 148

McKissock

JULY 20, 2021

The licensing laws and regulations for home inspectors do not permit them to develop opinions of property value like appraisers do. A home inspector might estimate the cost of certain repairs, but value opinions are left to the appraiser. You were hired to complete an appraisal. Why are these roles often confused?

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Inspection Appraisal Construction Clients 105

Appraisal Today

AUGUST 25, 2023

On Friday, NAR put out a notice asking appraisal members in the affected areas to alert their non-member colleagues. To read, click here My comments: Appraisers who are MLS members have this access. ” That means appraisers in affected areas should let clients know that certain assignments may be on hold for now.

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Appraisal Real Estate Agent Agents Real Estate 77

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

The Robert Weiler Company

OCTOBER 21, 2022

The process can be daunting, especially if you’ve never engaged in an appraisal for commercial real estate before. To simplify and demystify the commercial appraisal process for you, we have addressed 17 of the most important questions asked. The data is then analyzed and used to develop opinions of value.

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Real Estate Appraisal Property Appraisal Valuation 60

AmeriMac

SEPTEMBER 1, 2021

They go through the administrative process of actually hiring and retaining an appraiser. They will also deliver the report to the lender or other client as well. The AMC will generally have “on call” appraisers that they use regularly for specific projects. AMCs as a concept were developed in the 1970s.

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Appraisal Valuation Law Lending 36

Appraisal Today

JANUARY 5, 2024

I suppose it is because most appraisals are done (now) for residential lending purposes. 2024 USPAP For Appraisers Appraisal Business Tips Humor for Appraisers Click here to subscribe to our FREE weekly appraiser email newsletter and get the latest appraisal news!! . Pick one client to start with.

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Appraisal Contracts Legal Business 76

Housing Wire

MARCH 9, 2021

The Department of Housing and Urban Development (HUD) has announced that JPMorgan Chase has come to an agreement with a Black homeowner who claimed the bank’s mortgage division – relying on a valuation done by an appraiser – valued her home at an amount lower than its actual worth because of her race.

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Reconsideration of Value Appraisal Valuation Appraisal Process 450

Walitt Solutions

JULY 28, 2019

During my presentation, I reviewed with the audience a number of appraisal scenarios that have been common practice for decades – often in spaces outside of first mortgage lending. Are these “other” inspection-and-valuation processes appropriate for lending?

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Appraisal Inspection Valuation Lending 28

Appraisal Today

SEPTEMBER 9, 2022

Maintain USPAP compliance – Confirm the ROV request came from your client, either directly or through the client’s AMC, acting as an agent for the client, or other party designated as an agent by the client. Excerpts: What does the appraiser do with the three different values that may be developed?

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Reconsideration of Value Appraisal Clients Contracts 52

Housing Wire

AUGUST 21, 2023

Year Founded Description 98 OptiFunder 4,767% 2018 Finance company helping independent mortgage lenders choose among funding options and streamline the process. 126 Transactly 3,852% 2017 Real estate transaction platform providing automation, integrations and tech-enabled services that significantly reduce process time. Source: Inc.

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Real Estate Real Estate Agent Technology Investors 363

Appraisal Today

FEBRUARY 17, 2023

What Appraisers Wish Real Estate Agents Understood McKissock Survey Question: “What’s one thing you wish real estate agents knew about the appraisal process? I have confirmed changes at THREE different AMCs: CoreLogic is laying off all W-2 ‘staff’ appraisers, and most of the staff administering those folks.

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Real Estate Agent Real Estate Appraisal Agents 52

Realvals

JUNE 18, 2023

In the first scenario, an appraisal gives you an objective perspective on the property’s value to ensure that you don’t overpay for your new home. I have had many clients that want to make an offer without a contingency, or want to make sure their offer is competitive. The appraisal gives them peace of mind in either case.

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Appraisal Property Taxes Real Estate Market Value 145

McKissock

DECEMBER 28, 2021

Nonetheless, it would be prudent for appraisers to refresh or develop their knowledge on appraising REO properties.”. Appraisers should consider learning more about desktop appraisals and the hybrid/bifurcated appraisal process and using remote inspection tools such as RemoteVal ,” she advises.

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Appraisal Reconsideration of Value Real Estate Property Appraisal 96

Clear Capital

SEPTEMBER 29, 2021

It’s also, to be clear, somewhat about revolutionizing and modernizing the appraisal process by enabling property data collection to be performed by non-appraisers. And that that paper is called, “Racial and ethnic valuation gaps in home purchase appraisals.” Jeff Allen. It’s all for the podcast.

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Sellers Agents Real Estate Buyers 69