Cleveland Appraisal Blog

SEPTEMBER 30, 2022

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. However, enough information should be shared to help the reader begin to develop an idea of how the property being appraised fits into the overall market.

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Appraisal Development Market Value Clients 342

Appraisal Buzz

MARCH 26, 2024

As interest rates subside over the course of 2024, additional home buyers will be priced into the market and new construction will be needed to meet this demand.” “A A slight uptick in mortgage rates held back the pace of new home sales in February,” adds Robert Dietz, chief economist for NAHB.

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Mortgage Construction Inventory Buyers 195

Appraisal Buzz

AUGUST 16, 2022

below their revised June estimate, as erratic mortgage rates, supply chain concerns, and high prices mount to create housing affordability challenges. The post Fall in Housing Permits Gives Way to Rise in Multifamily Construction appeared first on DSNews. HUD and the Census Bureau reported housing starts dipping 9.6%

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Construction Supply Chain Appraisal Mortgage 150

Appraisal Buzz

SEPTEMBER 5, 2022

This is part three of a three part series on appraisal review – Read parts one and two. When interacting with executive managers, I am often posed with the following question “How do you know when you are looking at a “good” appraisal?” The Recent History of Appraisal Revisions. Complexity in Process and Properties.

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Appraisal Modernization Appraisal Process Technology 281

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 Appraisal Process Valuation Renovations 363

Appraisal Buzz

JUNE 3, 2021

The average rate for a 30-year, fixed-rate mortgage inched up slightly this week but remains below 3% at 2.99%, according to Freddie Mac’s Primary Mortgage Market Survey. . The post Average Rate For 30-Year Mortgage Continues to Hover Around 3 Percent appeared first on Appraisal Buzz.

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Mortgage Construction Inventory Appraisal 369

Appraisal Buzz

JUNE 16, 2021

Mortgage rates were already drifting higher in the first half of the week, but that was nothing compared to today. There’s a fairly prevalent misconception that the Fed sets/changes mortgage rates directly. There’s a fairly prevalent misconception that the Fed sets/changes mortgage rates directly.

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Construction Appraisal Mortgage 195

Housing Wire

JANUARY 9, 2024

For homeowners, ADUs can generate substantial rental income that assists homeowners in covering escalating property taxes and mortgage payments. Under this policy, lenders can include income earned from ADUs when underwriting their mortgage.

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Finance Construction Tenants Renovations 436

Appraisal Buzz

MAY 20, 2024

Newly built homes have taken up an increased share of home sales since mortgage interest rates began to increase starting about two years ago: This resulted in many existing-homeowners becoming locked into their low-rate mortgages and, as a result, they became financially disincentivized from selling. in the report.

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Construction Buyers Inventory Mortgage 195

Appraisal Buzz

MAY 23, 2024

Truity Credit Union , a member-owned credit union with locations in Oklahoma, Kansas and Texas, is using Dark Matter’s Empower loan origination system to provide loan officers and members a modern, mobile-friendly experience across home purchase, refi, home-equity and construction loan originations.

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Loan Officers Modernization Construction Lending 195

DW Slater Company

FEBRUARY 13, 2024

Love in Real Estate I’m I wrote this blog – 4 Things I Love About Being a Real Estate Appraiser- 10 years ago! We have experienced some very large swings in the market regarding the number of appraisals needed from a very high volume where appraisers couldn’t keep up, to the now very low volume of appraisal requests.

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Real Estate Appraisal Valuation Real Estate Agent 146

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 77

Appraisal Buzz

MAY 18, 2022

Desktop Appraisals have evolved so much in the past 3 years alone — how exactly can appraisers keep up on the changes and impact on the appraisal industry? Join us for our upcoming webinar, “ Desktop Appraisals – Yes, No, Maybe? ” Have all of your burning questions about Desktop Appraisals answered and more!

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Appraisal Inspection Valuation Construction 195

Appraisal Buzz

MAY 2, 2024

She also previously served as sales and product manager for one of Xactus’ divisions, Appraisal Firewall. Walker has almost 20 years of mortgage industry experience helping lenders mitigate risk. She is currently a board member for the Spokane Association of Mortgage Professionals serving as secretary and website committee chair.

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Development Business Valuation Modernization 195

Appraisal Today

MAY 27, 2022

6 Tips for Appraising New Construction Homes. Excerpts: New construction is treated a little differently by lenders, FHA, and the GSEs. When appraising new construction homes, you must take into consideration certain features and attributes that don’t necessarily apply to re-sales. Appraisal Business Tips .

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Construction Appraisal Modernization Contracts 52

Appraisal Today

MAY 24, 2024

8 Common Violations Made by Appraisers By Dan Bradley When it comes to appraisal non-compliance with USPAP, certain violations are, unfortunately, somewhat common… I have compiled this list based on many years of personal experience as a reviewer and a state regulator, as well as feedback I have received from other states’ enforcement agencies.

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Appraisal Contracts Mortgage Reconsideration of Value 81

Appraisal Buzz

NOVEMBER 11, 2021

has announced that Patriot Mortgage, a?Texas-based Texas-based lender specializing in new construction and resale, has signed a contract to implement the Black Knight Empower LOS and integrated origination solutions to?support COO of Patriot Mortgage. “Making Black Knight’s loan application.

Mortgage 195

Mortgage Contracts Construction Business 195

Housing Wire

MAY 12, 2021

Since the client began the search for her dream home earlier this year, her Veterans Affairs mortgage loan offers have been rejected over a dozen times. Instead, she is looking to buy a newly-constructed home from a large homebuilder. The post Why VA mortgage loans go to the bottom of the stack appeared first on HousingWire.

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Mortgage Government Clients Construction 418

Appraisal Buzz

NOVEMBER 10, 2021

has announced that Pulte Mortgage will implement its MSP loan servicing system and various additional solutions. Pulte Mortgage, a wholly owned financial services subsidiary of PulteGroup Inc., focuses solely on the financing of new construction homes for PulteGroup homebuyers. Black Knight Inc.

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Contracts Mortgage Construction Finance 195

Appraisal Today

APRIL 5, 2024

Why an Organized Workfile is Your Best Defense By Craig Capilla Excerpts: We all know that the Uniform Standards of Professional Appraisal Practice (USPAP) set the baseline for what must be included in a workfile. Still, all too many appraisers seek only to meet that minimum standard and little more. Newer appraisers are lucky.

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Appraisal Contracts Business Construction 77

Birmingham Appraisal

MAY 1, 2024

Home Renovations and Appraisal Value As an appraiser, I get asked about how much value will be added for different types of home projects or renovations. Appraisers are able to do what is referred to as a “ subject to appraisal ” by looking at the scope of work that owners may want to do.

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Renovations Appraisal Real Estate Agent Construction 82

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. Now appraisers are not busy, but they should be.

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Appraisal Mortgage Business Contracts 75

DataMaster

JANUARY 15, 2021

Appraising in 2021. We wonder, will appraisers stay as busy as ever? We wonder, will appraisers stay as busy as ever? Will appraising in 2021 be better or worse than in 2020? With all of this selling going on, appraising in 2021 will stay strong! It’s a seller’s market! How will it fare? million units.

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Appraisal Construction Business Real Estate 147

Appraisal Buzz

MAY 19, 2021

While a lack of existing homes for sale is heightening the demand for new homes, supply constraints – most notably lumber – and a dearth of buildable lots, as well as hiring difficulties, are limiting homebuilders’ pace of single-family construction, which.

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Finance Mortgage Construction Appraisal 221

Raleigh Realty

FEBRUARY 19, 2022

Appraisals 101: What to Expect From the Home Appraisal Process Wondering what to expect from your home appraisal? Now it's time for the home appraisal. But before you do there's one last factor to consider: the home appraisal. Here's what you need to know about home appraisals so that you come prepared.

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Appraisal Process Appraisal Construction Sellers 139

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 Contracts Training Architecture 80

Housing Wire

APRIL 13, 2023

The Federal Housing Administration (FHA) published a new draft version of a Mortgagee Letter (ML) on Thursday that would update the mortgage insurance requirements on single-family homes with accessory dwelling units (ADU). On the West Coast , Seattle saw a 250% ADU construction increase from 2019 to 2022.

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Finance Property Taxes Insurance Construction 365

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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Appraisal Contracts Business Construction 80

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 Contracts Insurance Construction 80

McKissock

MAY 7, 2021

Residential construction and new home sales have been making quite a few headlines lately. Keep reading to catch up on the latest stories and market data related to new home construction and sales. ” New home construction in the news. ” New home construction in the news. from February to a 1.02 “The U.S.

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Construction Real Estate Design Appraisal 94

Raleigh Realty

FEBRUARY 4, 2022

New Construction Home Buying Tips You asked. here are the best new construction homebuying tips How to buy a new construction house Last week we wrote an article on how to buy a house for first-time home buyers. Also asking, when do you pay for a new construction house? How Do I Buy A New Construction Home?

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Construction Realtors Real Estate Agent Real Estate 148

Appraisal Buzz

JULY 20, 2021

Applications for mortgages for new home purchases dropped 3% in May compared with April and were down 23.8% compared with May 2020, due to a slowdown in residential home construction, the Mortgage Bankers Association’s (MBA) Builder Application Survey (BAS) shows.

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Construction Inventory Appraisal Mortgage 370

Appraisal Today

APRIL 26, 2024

However, there are six other types of real estate transactions that you need to know about so you can specify these sale types in your appraisal report as they can affect the market value of the property. For appraisals required to be Uniform Appraisal Dataset (UAD) compliant, you must indicate the type of sale for the transaction.

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Appraisal Real Estate Real Estate Agent Contracts 76

Appraisal Buzz

MAY 14, 2024

Applications for mortgages for new home purchases increased 2% in April compared with March and were up 22.1% compared with April 2023, according to the Mortgage Bankers Association’s (MBA) Builder Application Survey (BAS). The post MBA: Applications for New Home Purchases Increased in April appeared first on Appraisal Buzz.

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Construction Mortgage Appraisal 195

Appraisal Today

MARCH 15, 2024

How To Appraise Rural Properties Excerpts: Appraising residential properties in rural areas can be both challenging and rewarding. Whether you’re a seasoned appraiser or new to the field, having a better understanding of rural properties is essential for providing credible appraisals. Well written.

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Appraisal Inspection Modernization Business 69

Housing Wire

DECEMBER 1, 2022

“Higher interest rates further dented home sales, which declined at a moderate pace overall but fell steeply in some Districts,” the report states, noting that “residential construction slid further at a modest pace” and “home prices grew less rapidly or declined outright amid weak demand.”. million in 2023 from 5.67 trillion from $2.34

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Housing Market Marketing Construction Inventory 315

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 Real Estate Agent Contracts Real Estate 82