Appraisal Buzz

JUNE 6, 2022

This article was originally published in the Fall 2021 Appraisal Buzz Magazine here. Now is your last time to sign up to receive the Appraisal Buzz Magazine for free from the Appraisal Buzz Premium Membership ! Every appraisal starts with identifying the appraisal problem.

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Appraisal Clients Appraisal Process Inspection 221

Appraisal Today

APRIL 19, 2024

Appraisal Institute Counters Flawed Appraiser Bias Narrative Excerpts: In reality, appraisers have a great story to tell, but we have a long way to go to refocus the terribly flawed “appraiser bias” narrative onto facts and science. Industry groups should also step up to support appraisers. It is human nature.

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Appraisal Valuation Contracts Design 70

Housing Wire

JANUARY 13, 2022

The Supreme Court weighed in on a class action lawsuit against Quicken Loans , now Rocket Mortgage , regarding its appraisal practices during the financial crisis, delivering a procedural win for the mortgage lender. million stemming from allegedly tainted appraisals for 2,769 mortgage loans Quicken Loans originated from 2004 to 2009.

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Appraisal Law Valuation Home Value 400

Appraisal Today

JULY 28, 2023

Keeping Appraisers out of Language Purgatory Appraisers: Be Careful with Your Words! by Dave Towne Excerpts: Appraisers, on July 17, 2023, a document from Freddie Mac was circulated to numerous appraisers around the US which identified certain words and other info that can be considered to be ‘BIASED’ in appraisal reports.

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Appraisal Contracts Mortgage Clients 82

Appraisal Today

JANUARY 5, 2024

Bradley, SRA, CDEI, McKissock Learning On May 5, 2023, the Appraisal Standards Board (ASB) voted to adopt changes to the Uniform Standards of Professional Appraisal Practice (USPAP), which will become effective January 1, 2024. I suppose it is because most appraisals are done (now) for residential lending purposes.

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Appraisal Contracts Legal Business 78

Appraisal Today

JUNE 23, 2023

This Is Where Appraisal Liability Risks Lie (Plus Tips on How to Avoid Them) By: McKissock Excerpts: While it’s difficult for a litigant to win a judgment against an appraiser, that doesn’t spare appraisers the inconvenience of being sued, which can be costly, time-consuming, and harmful to one’s reputation even if the suit fails.

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Appraisal Real Estate Valuation Contracts 89

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 Contracts Market Value Mortgage 88

Birmingham Appraisal

SEPTEMBER 15, 2022

What New Homebuyers Need To Know About Appraisals. In this new homebuyer’s guide to appraisals, I’ll help you understand the process during your first home purchase. I would like to do my part by informing and educating you on the appraisal part of the transaction. What is a Mortgage Appraisal?

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Appraisal Inspection Appraisal Process Real Estate Agent 91

Appraisal Today

NOVEMBER 24, 2023

The Surfing Appraiser Riding the Waves of Up and Down Mortgage Rates By Mark Buhler Excerpts: Riding the waves of the appraisal profession can result in a range of outcomes and emotions over time. Appraisers, and surfers, have varying levels of experience, and experiences. Appraisers were busy cranking out appraisal reports.

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Appraisal Mortgage Business Contracts 77

Walitt Solutions

MAY 24, 2024

Along with many of you, I am a member of multiple online appraiser discussion groups. One of those common scenarios goes like this: I completed an appraisal and transmitted the appraisal report to the client for a purchase appraisal. My market value conclusion came in below the purchase contract price.

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Contracts Appraisal Clients Market Value 74

Cleveland Appraisal Blog

OCTOBER 14, 2021

Recently, some of my well-intentioned clients have asked if it is possible to appraise a home, based upon a “normal market”. On many of my appraisals at that time, my opinion of value would not support the contract price. Don’t drink the Kool-Aid that any contract price is reflective of market value.

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Inventory Market Value Appraisal Contracts 243

McKissock

MAY 10, 2023

If you’re a licensed trainee entering the appraisal business, finding a supervisor can be a challenge. Many real estate appraisers don’t have the time to mentor a beginner. Older appraisers will often want to keep the business alive, and thus will be glad to train a successor. However, this is a “greying” business.

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Real Estate Appraisal Training Business 86

McKissock

OCTOBER 9, 2020

We recently asked our appraisal community, “What ONE business skill does every appraiser need to master?” ” According to real-life appraisers, several business skills are important. But time management, in particular, is essential for building a successful career in real estate appraisal.

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Business Appraisal Project Management Development 96

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 Agents Real Estate Real Estate Agent 83

Birmingham Appraisal

FEBRUARY 8, 2023

All Appraisals Are Not The Same All appraisals are the same, right? Not really, and today I’m going to explain the differences between several different types of appraisals that could mean the difference between a home appraising for contract price or not.

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Realtors Appraisal Market Value Real Estate Agent 78

Housing Wire

MARCH 15, 2024

Mortgage pros have closely monitored the commission lawsuit developments since a Kansas City, Missouri jury determined that NAR, HomeServices of America , and Keller Williams conspired to inflate or maintain high commission rates through NAR’s so-called Participation Rule.

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Buyers Agents Mortgage Real Estate Agent 498

Appraisal Today

JULY 8, 2022

as a Model for Appraisals. appraiser roster is a coveted position for most residential appraisers. appraiser) says the V.A. pays higher appraisal fees. doesn’t use Appraisal Management Companies (AMCs). does not use AMCs allows them to pay more directly to the appraiser, according to Rocha.

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Appraisal Property Taxes Contracts Mortgage 52

Appraisal Today

MAY 19, 2023

Chat GPT For Fannie Form Appraisal Reports By Dustin Harris Excerpts: The world of real estate appraisal is constantly evolving (much to our dismay sometimes), and as professionals in this field, it is crucial to stay ahead of the curve by embracing innovative tools and technologies. The answer is, Yes! Nothing wrong with that.

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Appraisal Business Contracts Real Estate 52

Empire Appraisal Group

JULY 1, 2021

5 Appraisal Topics Every Agent Should Know. Source: 5 Appraisal Topics Every Agent Should Know | Realtor Magazine. Appraisers are an integral part of the real estate sales process. Interacting With an Appraiser at a Property. Don’t tell the appraiser your client needs a certain value, for example.

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Agents Appraisal Real Estate Realtors 78

McKissock

JANUARY 6, 2023

How about one for you and your appraisal business? Most of us are fee appraisers who work independently. Our opportunity is time—it’s time to take stock of where we are and perhaps consider diversification or an alternative appraisal career. Here are a few ideas for transforming your appraisal career in 2023.

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Appraisal Training Lending Land Management 74

Birmingham Appraisal

NOVEMBER 8, 2022

What Information Is Included In A Real Estate Appraisal Report? This is a question I often get when someone is ordering an appraisal. I perform appraisals for multiple reasons, including estate planning , probate , divorce , PMI cancellation , pre-listing , and pre-purchase. Appraisal Process.

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Real Estate Appraisal Appraisal Process Construction 84

Housing Wire

APRIL 7, 2023

While an influx of defaults could certainly harm banking institutions, this is the fear-mongering I advise my team and my clients to avoid. compared to the week prior and the average contract interest rate for 30-year fixed-rate mortgages with loan balances of $726,200 or less, decreased from 6.48% to 6.45%. I think so too.

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Retail Real Estate Clients Modernization 335

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.” It did not even though many lots nearby were developed. How many offers.

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Appraisal Contracts Real Estate Mortgage 52

Appraisal Today

APRIL 21, 2023

The State Appraisal Board Wants to Throw Me Under the Bus, Right? Again, simply put, the investigator and board look to see if the appraisal meets the requirements of USPAP’s Standard 1, and if the report meets the requirements of USPAP’s Standard 2. This, to a great extent, is a function of the current political climate.

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Appraisal Contracts Modernization Mortgage 52

McKissock

AUGUST 27, 2021

” Let’s take a look at what location is, and how it fits into appraising. ” A perfect example of the importance of location in appraising can be found in The Villages in central Florida. ” A perfect example of the importance of location in appraising can be found in The Villages in central Florida.

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Appraisal Real Estate Contracts Buyers 82

McKissock

AUGUST 11, 2020

As a professional appraiser, you don’t want to have a disciplinary complaint filed against you, and you certainly don’t want to be the subject of a complaint that results in disciplinary action. Here are several do’s and don’ts to help you avoid situations that may get you into trouble as a real estate appraiser.

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Appraisal Clients Real Estate Law 64

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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Real Estate Agent Real Estate Appraisal Agents 52

Birmingham Appraisal

SEPTEMBER 26, 2023

On the other hand, the value that is reflected in most appraisals is a value that reflects what the majority of other market participants are willing to pay. Pressure from Clients Real estate professionals, including agents, often face pressure from clients to incorporate outlier sales into their Comparative Market Analysis (CMA).

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Real Estate Agent Real Estate Clients Agents 87

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 Real Estate Agent Real Estate Contracts 52

Cleveland Appraisal Blog

SEPTEMBER 30, 2022

When flipping thru one of these books, the viewer’s mind fills in the gaps between pictures so that an animated story and picture develops. APPRAISAL REPORTS. Have you ever read a real estate appraisal report? Each section should contribute a little to the overall story of the value of the home being appraised.

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Appraisal Development Market Value Clients 342

Appraisal Today

MAY 10, 2024

Appraisersblogs with Dave Towne’s opinions plus many appraiser comments. These policies were the result of a collaborative effort between the GSEs, the Department of Housing and Urban Development (HUD) and the Federal Housing Finance Agency (FHFA). For appraisers, Section II.D.2. For appraisers, Section II.D.2.

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Reconsideration of Value Appraisal Real Estate Insurance 76

Appraisal Today

SEPTEMBER 30, 2022

Killed by Carbon Monoxide: Appraiser Blamed. Excerpts: For decades, appraisers have been gently reminded to pay careful attention to smoke alarms and carbon monoxide (CO) detectors—especially noting when they are absent altogether. Humor for Appraisers. Read this article on how to check CO detectors. CO Detector vs Smoke Alarm.

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Appraisal Inspection Easement Contracts 52

Dart Appraisal

APRIL 30, 2021

Engagement letters are traditionally used by certain professional service firms, particularly in finance, accounting, law, real estate appraisal, and consulting, to define the specifics of the business relationship, or in the case of an appraisal – the assignment expectations. Who is the client and all intended users with addressees?

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Contracts Appraisal Tips Appraisal Clients 69

McKissock

DECEMBER 4, 2020

Developing an appraisal specialty is a great way to grow your business and stay competitive in the industry. Last month we asked our appraisal community, “What new appraisal specialty or niche would you like to break into?” The top three answers were review appraisal, commercial appraisal, and green home appraisal.

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Appraisal Property Appraisal Valuation Luxury Properties 66

Housing Wire

NOVEMBER 13, 2023

Prolicense Florida pricing Education Type * Prelicensing Post-License CE License Renewal CE Professional Development Starting at $131 $156 $24 $49 Package Features Standard: Coursework, Intuitive Online Exam Prep Platform Designed to Mimi Content on the Florida Licensing Exam Post-License Online Coursework.

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Real Estate Real Estate Agent Agents Law 382

The Robert Weiler Company

OCTOBER 21, 2022

Feeling a bit overwhelmed by the thought of a commercial real estate appraisal? 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.

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Real Estate Appraisal Property Appraisal Valuation 60

Genworth MI Blog

JUNE 27, 2019

The home appraisal has been requested…the waiting begins. Will the appraiser give credit for all the upgrades in the home? Is the appraiser familiar with the neighborhood? Will the appraiser use good comparables? Will the appraised value be sufficient for the loan?”. Will repairs be needed?

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Appraisal Tips Appraisal Law Market Value 78