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The cure for appraisal gap anxiety

Housing Wire

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. Well, a cure for appraisal gap anxiety has appeared on the scene.

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Tools To Support Appraisal Adjustments

Appraisal Today

What Tools Do You Use to Support Your Appraisal Adjustments? By McKissock As part of our monthly survey series, we asked our community of real estate appraisers, “What tool(s) do you use to support your appraisal adjustments?” I have never used any of the appraisal software listed above.

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How appraisers value homes in a hot housing market

Housing Wire

As anyone involved in the residential real-estate market knows, bidding wars – and contract prices exceeding the list price – are the norm today in many markets around the nation. Sheridan’s listing appraised at the contract price, and the deal went through without a hitch. Already a member?

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UWM to credit borrowers up to $600 for their appraisal costs

Housing Wire

For the next two months, United Wholesale Mortgage (UWM) will credit borrowers up to $600 for their appraisal costs, the lender said in a statement Wednesday. This tool will save homebuyers a lot of money and make the homebuying experience better for consumers and real estate agents alike.”. The offer will run from now until March 31.

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Freddie Mac Research Explores Causes for the Appraisal Valuation Gap for Homeowners in Minority Neighborhoods

Appraisal Buzz

Freddie Mac (OTCQB: FMCC) today released an analysis showing that appraisal values are more likely to fall below the contracted sale price of a home in census tracts with a higher share of Black and Latino households, resulting in an appraisal gap. for those in White tracts, leading to a gap of 5.2%.

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Opinion: A unified approach for reducing appraisal bias

Housing Wire

By combining the power of emerging technologies like artificial intelligence (AI) and machine learning (ML) with a true commitment to diversity at every stage of the valuation chain, we can build a consciously unbiased appraisal system that delivers more equitable and accurate conclusions.

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9 tips for homebuyers in non-disclosure states

Housing Wire

Even in a non-disclosure state, sale prices are listed on the Multiple Listing Service (MLS), and most real estate professionals are registered with their state’s MLS to gain access to this essential tool of the trade. Attend open houses and talk to other homeowners to get a sense of the market dynamics in the area.