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Opinion: The path to modernizing the appraisal process

Housing Wire

Regardless of the size or complexity of a system or process, it is time to look at whether the impact it has on people is equitable. And the appraisal process is no exception. of the properties in Black neighborhoods receive appraisal values lower than the contract price versus 7.4% All people.

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CubiCasa’s free SaaS technology has helped create more than 1 million floor plans to date

Housing Wire

Users can complete a schematic 2D floor plan using just a smartphone, with no training or cost required. This helps eliminate human error, creates digital consistency in the output, and democratizes the creation of accurate property data critical to real estate listings and the appraisal process on a home loan.

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The hybrid appraisal is here. Who benefits?

Housing Wire

Luke Tomaszewski, an appraiser doing home inspections in the aftermath of the housing bust, was traveling as much as an hour across Chicago just to snap exterior photos of bank-owned properties. At $50 to $100 per inspection, according to ProxyPics, it’s certainly less expensive than sending an appraiser.

Appraisal 405
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How data and technology can combat appraisal bias

Housing Wire

We often hear the statistic that the average appraiser is a 57-year-old white male. To break into appraising, you need to essentially apprentice with an existing appraiser, and for them to spend that much time training you often requires them to already have a close relationship with you. Johnson said.

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GSEs further expand AVMs, desktop and hybrid appraisals

Housing Wire

The Federal Housing Finance Agency released voluminous plans last week developed by Fannie Mae and Freddie Mac to make the housing market more equitable, in part through changes to the appraisal process. Non-traditional appraisals to the rescue. Fair housing, are you kidding me?”.

Appraisal 297
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FHFA’s RFI on appraisals is a critical inflection point

Housing Wire

A 2017 study conducted by the National Association of Realtors found that “lack of training, downward trends in compensation, and increasing regulation,” were driving both existing and would-be appraisers away from the industry. Navigating appraisal challenges in today’s housing market. Poor data visibility.

Appraisal 318
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The Hybrid Appraisal: It’s Cheaper, but Does It Protect Homebuyers?

Realtor

An appraiser also does a market data analysis, which values other homes in the area, and records the findings in the Uniform Residential Appraisal Report, or URAR. The hybrid appraisal uses a form almost identical to the URAR, but the appraiser doesn’t go to the property. When is the hybrid appraisal used?

Appraisal 107