Appraiserblogs

JANUARY 8, 2024

It is appraisers who are destroying the message. The seeming destruction of the appraisal profession by the federal government, GSEs and lending stakeholders is a collective action problem. Appraisers are responding to new GSE and lending dictates with reactions based on our own personal well-being. Or so it seems.

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Appraisal Valuation Lending Contracts 131

Housing Wire

APRIL 6, 2021

Unfortunately, the appraisal put the house’s value roughly $50,000 below than what she paid. With others waiting in line behind her, the seller wouldn’t budge on price. Linda had a sizable downpayment but still needed to find a way to close the appraisal gap. She recently had a deal fall apart due to appraisal.

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Appraisal Reconsideration of Value Real Estate Agent Sellers 539

McKissock

MARCH 28, 2023

In times like the present when the housing market is slow, you can help your appraisal business thrive by offering additional services beyond mortgage lending appraisals. What are some specific types of non-lending assignments that might be worth adding to your workload this year? Read the full survey results below.

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Lending Appraisal Property Taxes Training 99

Housing Wire

JUNE 11, 2021

What’s the difference between a home inspection and an appraisal? Before you get overwhelmed, take comfort that critical milestones of home inspection, appraisal and closing processes are all great ways to get more acquainted with your prospective new home. An appraisal is a valuation of a property by a third party.

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Inspection Appraisal Buyers Appraisal Process 423

Housing Wire

SEPTEMBER 20, 2021

Appraisals in Black and Latino neighborhoods are more likely to fall short of the contracted sale price, a Freddie Mac study of 12 million appraisals found. The research examined appraisals for home purchases the government sponsored enterprise received from 2015 through the end of 2020.

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Appraisal Contracts Valuation Buyers 439

Appraisal Buzz

SEPTEMBER 14, 2021

Appraisers have been accused of being “speed bumps” in the lending process. We frustrate buyers, sellers, loan officers and, sometimes, real estate agents. The post Agents, Don’t Skip the Appraisal appeared first on Appraisal Buzz. In some ways, I can understand their … Read More.

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Agents Appraisal Real Estate Agent Loan Officers 195

Housing Wire

JUNE 9, 2021

As the appraisal industry struggles to meet demand, Voxtur has developed a solution to streamline the process. HousingWire: What can the industry at large do to support the work of appraisers right now? HousingWire: What can the industry at large do to support the work of appraisers right now? This is misguided.

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Appraisal Property Taxes Technology Valuation 389

Housing Wire

MAY 20, 2021

Accurately establishing a home’s value is not just an important factor in real estate transactions and mortgage lending, it is integral to household wealth creation, as homeownership continues to be one of the primary pathways for Americans to build wealth. The answer lies in evolving valuation technology.

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Appraisal Valuation Technology Training 469

Appraisal Buzz

OCTOBER 4, 2021

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. Analysis was conducted on appraisals for the purchase of a single family one-unit home.

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Valuation Appraisal Contracts Finance 370

Housing Wire

DECEMBER 11, 2023

Not surprisingly, affordability is inextricably linked to fair housing , as fair housing (and lending) for all is foundational to affordability for all. Today’s reality of affordability But imagine if Bob’s appraisal had been lowballed? This doesn’t take into account any of his pension as an auto plant worker. homeownership.

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Real Estate Agent Real Estate Agents Lending 407

Housing Wire

APRIL 8, 2021

First, the pre-approval letter tells the seller that you are serious about buying a home and that you have a commitment from a reputable lender on how much it will lend to you. Another seller’s home may need repairs, and you put in your offer the need for a seller credit to pay for them. In an extremely competive market?

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Inspection Sellers Buyers Tools 433

Appraiserblogs

JANUARY 26, 2024

Damned if you do, damned if you don’t has become the new normal in the real estate appraisal profession. The government and those that write the rules have made it illegal (a punishable violation) to refuse an appraisal assignment in an area which consists primarily of non-whites. In… False Claims of Racism Against Appraiser.my

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Government Lending Real Estate Appraisal 128

Birmingham Appraisal

AUGUST 23, 2023

How Can Appraisers and Agents Work Together? In the often chaotic world of real estate, the appraiser-agent relationship can contribute to a smoother process. There are many areas that appraisers and agents can inform and educate one another so that each of their jobs is done more successfully.

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Agents Appraisal Valuation Appraisal Process 85

JMV Lending

APRIL 2, 2021

APPRAISAL COMES IN LOW We had an appraisal come in slightly under contract price this week. So, when the appraisal came in low, both agents, the seller […]. The post Appraisers Can’t Push Values; Must Avoid Reviews/Cuts appeared first on JVM Lending.

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Appraisal Contracts Lending Sellers 97

Appraisal Hub

MARCH 19, 2023

A home appraisal in Toronto is necessary when applying for a mortgage, refinancing, or selling your house. This appraisal will give you critical information to help you make informed choices and understand the true value of the asset. Keep reading to find out more about its significance and understand the appraisal process.

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Appraisal Property Appraisal Sellers Mortgage Appraisal 78

Housing Wire

APRIL 13, 2021

Rapidly accelerating home prices come with a variety of challenges for lenders and real estate agents, including one of the biggest pain points right now — the appraisal gap. If they get a higher offer that has financing, then when appraisal comes back, the buyer is going to renegotiate the sales price to be closer to appraised value.”.

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Housing Market Buyers Marketing Real Estate Agent 532

Appraisal Buzz

MAY 17, 2021

During the 2007-10 mortgage default meltdown, appraisals were a target of complaints and allegations by lenders, the GSEs, some state appraisal boards, and a few unscrupulous entrepreneurs. Many allegations related to appraisals that used inappropriate comparable sales that were used to “make” a deal work.

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Appraisal Clients Real Estate Sellers 418

Housing Wire

NOVEMBER 7, 2023

Potter added: “Government lending would come to a halt. Not helping FHA, VA borrowers get off the sidelines Under current FHA rules, sellers can contribute up to 6% in concessions to FHA borrowers to cover closing costs, prepaid expenses and discount points. Are commission fees a future negotiation point between sellers, buyers?

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Agents Sellers Buyers Finance 437

Housing Wire

AUGUST 21, 2023

Homelight , a platform for homebuyers and sellers, was No. 403 Homelight 1,444% 2012 Providing a platform that helps deliver better outcomes for homebuyers and sellers. 469 LoanStar Technologies 1,241% 2016 Enabling lenders to connect and lend to customers who are traditionally underbanked or unbanked. 5000 edition. Source: Inc.

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Real Estate Real Estate Agent Technology Investors 349

Housing Wire

AUGUST 14, 2020

For the past two weeks, HousingWire took a deep dive into the effects an accelerated market can have on appraisal turn times and the delta between appraisal ratings and market forecasts. I get it, the seller needs to move, but doing a quick closing to incentivize the seller to accept your offer is no longer a selling point.

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Real Estate Clients Loan Officers Lending 477

Housing Wire

JUNE 4, 2021

The winning buyer also waived appraisal and financing contingencies and dropped off cupcakes that matched the interior colors of the house, which was a nice touch because the seller is an artist and the home is unique and colorful.” . . “We received about a dozen offers, which is actually a low number by today’s standards.

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Marketing Sellers Finance Loan Officers 488

Appraiserblogs

MARCH 17, 2021

Bill A5185 and AMC Bill A5146 introduced to the state legislature in New Jersey show just how much state legislators don’t understand the appraisal profession. Valuation Legal warned us about this back in December: Appraiser and AMC Laws to Include Prohibitions Against Discrimination. From Bill A5185: 2. 45:14F-1 et seq.)

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Appraisal Law Legal Property Appraisal 114

Birmingham Appraisal

FEBRUARY 20, 2024

Appraiser and Agent Collaboration is a Good Thing The importance of collaboration between real estate agents and appraisers can be a touchy subject. On one hand, the real estate agent’s main goal is to advocate for their client while the appraiser must be an impartial and non-biased third party.

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Agents Appraisal Real Estate Agent Bracketing 89

Appraisal Hub

SEPTEMBER 8, 2023

One crucial step that often goes unnoticed by many prospective homeowners is the mortgage appraisal. Let’s delve into the significance of mortgage appraisals and how professional appraisers and reputable appraisal firms can make a difference. An accurate appraisal ensures that the lender can recoup their investment.

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Appraisal Mortgage Mortgage Appraisal Market Value 78

Appraisal Today

AUGUST 25, 2023

What’s the Average Real Estate Appraiser Salary? Excerpts: On average, appraisers earn $102,620 a year. However… the average appraiser salary varies significantly across license levels. Trainee appraisers earn an average annual income of about $53K. Licensed appraisers earn approximately $89K per year.

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Appraisal Real Estate Agent Agents Real Estate 76

Realtor

MAY 15, 2023

Getty Images If you need a mortgage to buy a home you have your eye on, it’s standard for your lender to order an appraisal of the property. But when your lender says it’s ordering a hybrid appraisal instead of a traditional appraisal , what does that mean exactly ? The appraisal also protects you as a buyer.

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Appraisal Real Estate Appraisal Process Market Value 107

DataMaster

APRIL 6, 2021

What is an home appraisal? Why Didn’t My Home Appraise Higher? Appraisals can be confusing. A friend (I’ll call him Art) recently had his home appraised. When the appraisal came back, he was shocked to see that his home appraised for less than two homes nearby that had recently sold.

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Appraisal Appraisal Process Buyers Legal 158

Housing Wire

NOVEMBER 8, 2021

Next, he has his buyers write a letter to the seller, a practice that has come under scrutiny lately for creating potential biases. I’d say there is a 50/50 chance of a letter having an impact on sellers, but when things are tough, it’s worth a shot,” Pascoe said. Pascoe said.

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Clients Agents Buyers Sellers 377

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

JMV Lending

MARCH 16, 2022

My point is that no seller is ever going to knowingly sell a property for under market value in this day and age – when listing information is made available to everyone via […]. The post Why Homes Have to “Season” After Close Before Appraising Them for More appeared first on JVM Lending.

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Appraisal Market Value Lending Sellers 78

Housing Wire

APRIL 11, 2024

Do we want the mortgage business and leveraged lending business to be inside or outside the banking system? In just the last year, the Department of Justice has called for a full dislocation of real estate commissions between sellers and buyers, and special committees have been set up to reimagine appraisals.

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Mortgage Finance Business Insurance 330

Boston Appraisal

NOVEMBER 6, 2020

If you decide to take advantage of these all-time low rates, your lender will most likely order an appraisal. What happens if the new appraisal is less than original one? Before you assume the appraiser made a mistake, let’s look at three reasons why a new appraisal could come in low. The appraiser looks like the bad guy.

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Appraisal Market Value Real Estate Sellers 148

Appraisal Buzz

SEPTEMBER 20, 2021

As a southern California property appraiser, each year I attend Valuation Expo , the country’s largest trade show for real estate appraisers. Buyers and sellers? Realtors and Property Appraisers? The post Recap: Valuation Expo 2021 appeared first on Appraisal Buzz. So what’s the consensus, you ask?

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Valuation Property Appraisal Real Estate Sellers 195

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

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 93

Kairos Appraisal Services

SEPTEMBER 27, 2023

At Kairos Appraisal, we take pride in providing an efficient and streamlined appraisal process that benefits our borrowers, our lending partners, and most importantly our appraisers. At Kairos… The post Kairos’ Innovative Tools for Residential Appraisers appeared first on Kairos.

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Tools Appraisal Appraisal Process Lending 52

The Robert Weiler Company

SEPTEMBER 18, 2022

When there is land for sale – whether raw acreage, commercial property, or residential – a land appraisal is the key component of the process. Any loan for a property is based on the appraisal value. As a land buyer, owner, or seller, understanding the true market value of the real estate in question is important.

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Appraisal Valuation Real Estate Market Value 78