Cleveland Appraisal Blog
JULY 20, 2022
I recently gave a presentation and was asked if appraisal gap clauses impact the way appraisers are developing their opinion of value? In other words, do appraisal gap clauses cause appraisers to be more “conservative”? An appraisal gap clause can be written into a contract. But not always.
Cleveland Appraisal Blog
MAY 26, 2023
Most weeks I perform appraisals for divorce or a marriage dissolution. In recent years, on several occasions, I have been hired to appraise a property after a valuation service was provided for my client by another real estate professional. But then they had to hire me to perform an appraisal. That’s right!
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Appraisal Buzz
DECEMBER 27, 2021
There’s too little supply and too high a demand, a predicament that’s disrupted the housing and appraisal industries. Beginning in January 2020, 7% of purchase transactions had a contract price above the appraisal value. As the appraisal gap widened, the CoreLogic Price Index rose as well, reaching 15% in May of this year.
Housing Wire
DECEMBER 14, 2021
Appraisers are not supposed to base their analysis on protected classes, and in the Uniform Residential Appraisal Report, appraisers attest that “race and the racial composition of the neighborhood are not appraisal factors.” Still, there were a number of troubling examples — although the report does not specify how many.
Cleveland Appraisal Blog
JUNE 17, 2022
When developing an opinion of the market value of a property, what appraisers are really measuring is how much depreciation a property has suffered from, and more specifically how much depreciation the improvements on the land have depreciated. This is an important question to answer when appraising a property. Depreciation!
Cleveland Appraisal Blog
SEPTEMBER 3, 2021
In most parts of the country, real estate appraiser’s main source of data is the multiple listing service. Let’s talk about three areas of a listing that, when completed accurately, can help appraisers to develop more supportable opinions of value. An appraiser may miss that sale through no fault of their own.
McKissock
AUGUST 13, 2021
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.” When should we analyze the contract? That’s the real reason why—because USPAP says so.
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