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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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

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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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. The AMC stated that the lender indicated the appraisal received a high risk score by Fannie Mae. The post is long.

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Appraisal Today

DECEMBER 8, 2023

OK to average adjusted comps on appraisal? Basic Appraisal, but not all appraisers know about this, especially if they “appraise to fit the form” aka form fillers. Worth reading, plus the appraiser comments. Click here = Appraisers vs. Lenders. One of the best I have read. What Can We Do?

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Appraisal Today

AUGUST 4, 2023

The End of Home Appraisals? In a truly Orwellian move, mortgage giant Freddie Mac recently announced its intent to censor an arbitrary collection of words such as “desirable,” “safe,” “well-kept,” “student” and “crime” when they appear, in any context, in the hundreds of thousands of appraisal reports it relies on in mortgage underwriting.

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Appraisal Today

FEBRUARY 24, 2023

What Level Appraiser Are You? What is the mark of an appraiser who is at the top of his or her “game”? For example, are you competent to prepare an entire appraisal from start to finish? But what if the appraisal form was completely blank with no boilerplate text? A Level 1 appraiser checks boxes.

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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

FEBRUARY 10, 2023

Fastapp AMC Alleged Violations of AIR (Appraiser Independence Requirements) Excerpts: The following court documents in the case Naftali Horowitz v. it began to become apparent to Andrews that Horowitz was not complying with appraisal independence standards. . … My comments: Written for homeowners, but valuable for appraisers.

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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. While agents can “puff” we cannot!

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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

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? Of course, most people confuse real estate agents with appraisers. We need a good Appraiser PR Campaign!

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Appraisal Today

OCTOBER 28, 2022

VA Update for Appraisers. Interview with VA’s Chief Appraiser. Excerpts: …the United States Department of Veteran Affairs (VA), is known throughout the valuation community for respecting the work of appraisers and maintaining reasonable fee schedules. Do you anticipate requiring ANSI on VA appraisals in the future?

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Appraisal Today

JUNE 3, 2022

Residential Appraisals and Airbnb Income? State appraisal boards ARE disciplining appraisers across the country for improperly using the business income (Short term Rental – STR) from Airbnbs on the residential 1007 Fannie Mae form. Julie does not include short-term rental income (STR) in her appraisals of homes with Airbnbs.

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Appraisal Today

NOVEMBER 10, 2022

12 Unacceptable Appraisal Practices from Freddie Mac. Here are 5: Reliance in any appraisal analysis on inappropriate comparable sales, or the failure to use comparable sales that are more similar to or nearer to the subject property without adequate explanation. Review appraiser liability. Appraisal Business Tips .

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Appraisal Today

MAY 10, 2024

Appraisersblogs with Dave Towne’s opinions plus many appraiser comments. Within this framework, the lender must include steps for the borrower to appeal an appraisal when they believe the value opinion: is unsupported; is deficient due to unacceptable appraisal practices; or reflects discriminatory practices.

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Appraisal Today

NOVEMBER 3, 2023

How do the USPAP revisions to the Nondiscrimination section affect appraisers? Appraisers were also always prohibited from performing assignments with bias. 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!!

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Appraisal Today

APRIL 2, 2023

What Do Appraisers Look For in a Sales Contract? Why must an appraiser be given a copy of the sales contract? First and foremost, Standards Rule 1-5 in the Uniform Standards of Professional Appraisal Practice (USPAP) states that we are to: “analyze all agreements of sale.” Answers a lot of appraiser questions.

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Appraisal Today

JULY 21, 2023

After 35 years of appraising here, the value effect is none. In dramatic contrast, when I first started appraising “over the hill”, 10-15 miles away where there are many subdivisions, I noticed that in certain neighborhoods, a pool was almost mandatory. I have appraised a few homes with pools in areas with few pools.

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Appraisal Today

FEBRUARY 16, 2024

Historical Properties and Their Unique Appraisal Approaches Excerpts: Appraising historical properties involves a complex interplay of factors, making it a specialized field within real estate valuation. For many years I appraised in the nearby city of Berkeley, CA. Worth reading. A good summary. Many people don’t like them.

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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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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. To read the report, click here My comments: Read the appraiser sections in the long report. This is up sharply from 27 percent last year.

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Appraisal Today

SEPTEMBER 8, 2023

Problems When Appraising Airbnb & VRBO Properties by Richard Hagar, SRA Excerpts: Residential appraisers are being asked to appraise these properties, along with their elevated income, as “typical” residential properties. He is one of my go-to appraisers for these types of issues. He is an excellent teacher.

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Housing Wire

DECEMBER 7, 2023

12 months course access Summit: All features of Peak + RE14R07: Architecture Class and 1 on 1 course & study support. Students chose the school for its offering of live instruction classes for salespersons, brokers, appraisers, mortgage, and home inspection courses at various locations and convenient times, including weekend classes.

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Appraisal Today

MAY 12, 2023

Certified Appraisers vs. Unlicensed Data Collectors By Jonathan Miller (13-minute video) Here’s a great take on the difference between Certified Appraisers vs. Unlicensed Data Collectors by Leigh Brown, President of the NC Association of REALTORS. Fannie Mae has been working hard to get rid of appraisers for years.

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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

JULY 29, 2022

More Terrible Real Estate Agent Photos for Appraisers. Appraising Weird Stuff is Challenging! Appraisal Business Tips . Humor for Appraisers. Click here to subscribe to our FREE weekly appraiser email newsletter and get the latest appraisal news!! This is actually about fewer buyers getting into contract.

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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

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

APRIL 1, 2023

I had completed a complex appraisal assignment and was expecting multiple revision requests, but instead, got a note saying how thorough my appraisal report was and thanking me for the work. To read more, click here My comments: Rachel is one of my favorite appraisal authors. > Why Appraisers Love Appraising!

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Appraisal Today

AUGUST 12, 2022

Appraisers: How to spend less time on Email. Excerpts: Many appraisers report that they’d like to spend less time on email. This blog post is the best I have ever read, as it is specifically for practicing appraisers. Appraisal Business Tips . Humor for Appraisers. Mortgage rates and refis drive appraisal volume.

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Cleveland Appraisal Blog

MAY 18, 2023

I just appraised a home in Parma with forty-three offers in four days. And I found sales that supported the contract price that had sold within the past month. But when appraising properties, I am seeing many homes sell much faster. You can also listen right here at Cleveland Appraisal Blog! Same news, different year.

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Appraisal Today

JUNE 24, 2022

Appraisals and Water Frontage. Appraisers should familiarize themselves with their state laws regarding water frontage and related rights, as they can vary from state to state. The property owners asked me to do appraisals on the homes, including the rear structures but did not like my very high fee. Appraisal Business Tips .

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Appraisal Today

MAY 27, 2022

6 Tips for Appraising New Construction Homes. When appraising new construction homes, you must take into consideration certain features and attributes that don’t necessarily apply to re-sales. Some of the best construction cost data is compiled by you as you complete new construction appraisal assignments. Humor for Appraisers.

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Appraisal Today

JULY 15, 2022

Debate on Appraising Short-Term Rentals. Excerpt: What can appraisers learn when it comes to short-term and long-term rentals? What role does an appraiser take when sorting between the two? What can appraisers learn when it comes to short-term and long-term rentals? I have been a commercial appraiser for over 40 years.

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Portland Appraisal Blog

AUGUST 3, 2019

Appraisers endeavor to take the measure of a neighborhood with a variety of tables, charts, and graphs. Finally, the “CtL” label stands for “contract-to-list” ratio. As of this post date, there are more properties waiting for offers than are under contract. Appraisal Reports. The highest listing was for $19,500,000.

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Will Springer Realtor

OCTOBER 11, 2022

Seattle experienced a 32% (1031) monthly increase in new listings but a 15% (558) decline in homes going under contract, as median prices fell 2.9% ($900,000) since August and remain 5.9% This includes an appraisal contingency to virtually guarantee the purchase is at market value. higher compared with last year. Absolutely!

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