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 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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Appraiserblogs

MAY 26, 2022

A new press release from Class Valuation, one of the largest US based AMCs, scampered across my office threshold on 5/17/22. the modern appraisal industry perpetuates racial inequality through its continued use of the “sales comparison approach”. But the push this times seems to be “only for certain people. I added the.

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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

JUNE 16, 2023

Excerpts: Following that thought process, our appraisal language has simply got to change to reflect current times. In addition, our lenders and GSE’s are implementing tools and programs to identify when “Certain prohibited, subjective or potentially biased words or phrases are included in appraisal reports.”

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Appraisal Today

AUGUST 5, 2022

VA Approves Desktops and Exterior-Only Appraisals. Excerpts from the Summary: On August 1, 2022, the Veterans Affairs released Circular 26-22-13 announcing new procedures for alternative valuation methods, effective immediately. Appraisal Assignment Waterfall. I always recommend VA as the best lender client for appraisers.

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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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Clear Capital

MARCH 24, 2023

Written by Kenon Chen When you google “ appraisal gap” — and I just did — a long list of search results appear. What I did see were links to lender websites almost apologetically explaining what an appraisal gap is to their customers and willing them not to panic if it happens to them.

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Housing Wire

MAY 2, 2022

The appraisal industry was no exception, creating hybrid or remote models to conduct an appraisal and home inspection without physically entering the home as COVID-19 cases rose. This certainty should allow lenders, borrowers, and appraisers alike to take advantage of the efficiency gains that desktop appraisals can provide.”.

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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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Housing Wire

JUNE 28, 2021

He started contracting with home mortgage lenders to appraise the value of the property tied to a loan. “It He reentered the appraisal business through a different door. He reentered the appraisal business through a different door. It fit well.

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Appraisal Today

DECEMBER 16, 2022

Industry Insider Insight on Risk and Modernization. Excerpts: The Collateral Risk Network (CRN) met in Sarasota on December 6th to discuss a variety of issues ranging from appraisal turn times to Fannie Mae’s economic outlook for 2023. Appraisers were encouraged to provide convenience as one aspect of quality. Worth attending.

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Appraisal Today

FEBRUARY 23, 2024

I quit making dollar adjustments on form appraisals many years ago, but I always do market conditions adjustments when needed. I appraise a lot of 2-4 units and regularly go to other neighborhoods for comps. I do a lot of estate appraisals, which are not current value. Isn’t appraising boring? Excerpts: 8 bedrooms, 7.5+

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Appraisal Partners Blog

NOVEMBER 27, 2019

What is a home appraisal? An appraisal is a professional opinion of a home’s value that is completely unbiased. Generally speaking, an appraisal is used to decide if the properties contract price is entirely appropriate; taking into consideration the features, condition, and location of the home in question.

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Aedis Appraisals

JUNE 13, 2017

Regardless of whether you happen to be the buyer, owner, or seller of a property, it’s important to understand the significance of appraisals and how they affect the inherent value of the property in question. What Is an Appraisal and When Do I Need One? Home Appraisal and Home Inspection Differences. How Does the Process Work?

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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. acres of coastal land.

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Appraisal Buzz

JUNE 20, 2022

Real property appraisers have had quite a bit dumped on them in the past couple of years. The uncertainty, turmoil, and government interest in oversight and intervention caused by allegations of racial and ethnic bias in real property appraisal is cause for concern. There is a bright spot, however.

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Appraisal Today

OCTOBER 13, 2023

How to Level Up as an Appraiser By Conrad Meertins Jr. 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? For example, you understand that you do not need a form to produce an appraisal. Are your legs shaking?

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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

OCTOBER 14, 2022

Appraisal Risk, Reviews, and Revisions. Excerpts: This is part three of a three part series on appraisal review – Read parts one and two. I am often posed with the following question “How do you know when you are looking at a “good” appraisal?” Appraisers and AMCs spend less time and have fewer hassles. By Ken Dicks.

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Housing Wire

NOVEMBER 30, 2021

And the appraisal process is no exception. After a summer filled with overwhelming demand and too little appraisal capacity, which increased loan costs and time to close, there is finally light appearing at the end of the tunnel. The appraisal gap for properties in Latino neighborhoods can be even worse, going as high as 9.4%.

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The Robert Weiler Company

SEPTEMBER 19, 2022

The importance of a fully modern open space preservation vehicle – a conservation easement in Ohio – cannot be better summarized than by our 26th President. A simple conservation easement definition is a legal contract to protect private land, permanently. A contract between the landowner and the buyer is legally binding.

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Appraisal Today

MAY 26, 2023

MPR Repairs: Guidance for FHA Appraisers By: McKissock Excerpts: If you are appraising a property that needs some cosmetic repairs but meets FHA minimum property requirements (MPR) in its current condition, you should make the appraisal “as-is.” Conservation easement appraisals are a definite risk for appraisers.

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Appraisal Today

DECEMBER 23, 2022

Excerpts: The property to be appraised is atypical. Some of the key physical features that can make an appraisal assignment complex include: The form of ownership is atypical. In this case, circumstances involving ownership are uncommon or make the appraisal more complex. Appraisal Business Tips . Humor for Appraisers.

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Appraisal Today

NOVEMBER 10, 2023

More Objective Appraisals: A Practical Guide for Appraisers By Scott Reuter Single-Family Chief Appraisal Officer, Freddie Mac Excerpts: Changing the Mindset – Facts First What’s the number one thing appraisers should be doing when they develop an appraisal? Stick to the facts. Not just a list of words and phrases.

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Appraisal Today

SEPTEMBER 29, 2023

How to Identify a Single-Family with ADU vs. Two-Family Property By McKissock Excerpts: The presence of an additional living unit can complicate the appraisal process. It may make it difficult for you, the appraiser, to know how to classify the subject property. Topics include: ADU meaning and types What is a two-family property?

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Clear Capital

JUNE 21, 2022

When Freddie Mac published the study, “ Discovery of Racial and Ethnic Valuation Gaps In Home Purchase Appraisals ” in late 2021, its conclusion, “that Black and Latino applicants receive lower appraisal values than the contract price more often than White applicants,” sent shockwaves through the mortgage industry.

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Housing Wire

MAY 27, 2022

There is no single silver bullet that will rectify the pernicious impact of bias in residential real estate valuations — it is a complex problem that requires a multifaceted solution. First, we must acknowledge the impact that appraisal bias continues to have on minority homeowners and the broader housing system.

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Housing Wire

JUNE 14, 2022

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.

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Clear Capital

SEPTEMBER 29, 2021

Then they dive into Freddie Mac’s long-anticipated research paper, “ Racial and Ethnic Valuation Gaps In Home Purchase Appraisals.” It’s also, to be clear, somewhat about revolutionizing and modernizing the appraisal process by enabling property data collection to be performed by non-appraisers.

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The Robert Weiler Company

NOVEMBER 10, 2021

If you plan to buy commercial real estate in Ohio or beyond, you must have access to a roster of current tenants, service contracts, and maintenance records. Not only that, but you want those transit links to be modern, well funded, and in high use. If it seems as if you’re over-leveraged you won’t get the loan.

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Clear Capital

JANUARY 5, 2023

“Many news stories tend to focus on the potential for an individual appraiser delivering a too-low estimate based on factors associated with the occupants instead of the home. The potential for appraisal bias in home valuation has recently garnered public attention and regulatory scrutiny. But the reality is more nuanced.”

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Appraisal Today

MAY 5, 2023

Fannie’s New Appraisal Online Formats By Brent Owen Excerpts: To Be Or Not To Be (a form), That Is The Question The first thing to notice is that the ‘form’ isn’t really a form anymore. It’s not the length of the report which is of ultimate importance, it is the time necessary to develop the appraisal that is key.

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