Is Market Value Itself Biased?

George Dell

Could the very definition of market value hold bias? The post Is Market Value Itself Biased? Appraiser Bias Series Critical Thinking Market Value market valueLet’s look. First, we need to figure out what types of bias there might be.

Diving into Market Value in 2022

Appraisal Buzz

In today’s Buzzcast, we dive into market value and how appraisers are moving forward in the new year. and Michael Perry, CEO of Perry Appraisal Services. We’ll be getting the inside scoop while they discuss market value and this upcoming year in the industry.

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Is Market Value Obvious?

George Dell

We compared price versus value in Part I. There, the leading paragraph defines “market value” as per USPAP Advisory Opinion 22.) The Appraisal Foundation opinion goes on for a full page to explain the explanation of the definition, and the importance of […].

How Appraisers are Handling Market Value

Appraisal Buzz

In today’s Buzzcast, we dive into the hot button issue of how appraisers are handling this market. How has this new market been different than what is considered “normal?” In what ways are appraisers reacting?

Market Value Vs. Sales Price with Nikki Smith

Appraisal Buzz

In today’s Buzzcast, we dive into market value versus sales price and how today’s wild market should be something all appraisers need to be up-to-date on. They delve into a deep discussion regarding the two and how they impact where we are today in the market.

Market Price or Market Value Or?

George Dell

Market value for home loans in the United States is precisely defined. The understanding of “market value” is the single most important concept defining what appraisers do. The post Market Price or Market Value Or?

What is the Market in ‘Market Value’?

George Dell

Everyone knows what’s a market — (or do they)? Market Value is the ultimate goal of appraisals, of AVMs, of evaluations, of BPOs, hybrids, exceptions, and all forms of opinions (everyone has one). So, market value must be based on “the market”!

Do Appraisal Gap Clauses Impact Appraisals?

Cleveland Appraisal Blog

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”? Part 3: Fixing an Appraiser Excess?

Market Value Vs. Sales Price with Nikki Smith

Appraisal Buzz

In today’s Buzzcast, we dive into market value versus sales price and how today’s wild market should be something all appraisers need to be up-to-date on. They delve into a deep discussion regarding the two and how they impact where we are today in the market.

Market Value: Who Says What It Is?

Appraisal Buzz

Property appraisers don’t dictate what the value is. We merely research and analyze market data to interpret and then report what the market says the value is. On the way he needed to drop off an appraisal report to a lender client.

Market Value: Who Says What It Is?

McKissock

Property appraisers don’t dictate what the value is. We merely research and analyze market data to interpret and then report what the market says the value is. On the way he needed to drop off an appraisal report to a lender client.

Who Needs Appraiser’s When One Has Cash?

Cleveland Appraisal Blog

Who needs an appraiser when one has cash? I must admit, in the past year, there have been times when I have felt like many buyers don’t really care about value anymore. There is a lot of information that an appraisal can provide, which can be helpful to lenders and homeowners.

Bias in the (Transaction) Zone?

George Dell

Yet our definitions of value nearly all define a “most probable” price. In prior issues, we have discussed how vintage appraisal practice is vulnerable to accusations of bias. The “appraisal process” is most vulnerable at the beginning of the analysis, wherein “good […].

Is Your “Crazy” Neighbor Lowering Your Home’s Value?

Cleveland Appraisal Blog

It’s tax appeal season and I’ve had several homeowners say that they feel their neighbors are negatively impacting the value of their home for different reasons. Could being located next to a property that is an eye-sore cause a loss in market value to your home?

ASC Blaming Appraisers

Appraiserblogs

The Appraisal Subcommittee, because they were directed to do so, has produced a report, which frankly and explicitly lays the blame for low market values of homes in ‘communities of color’ directly at the feet of independent appraisers involved with mortgage lending.

Choosing comps in a lopsided market

Sacramento Appraisal Blog

How do we choose comps in such a lopsided market? I had a great question about this recently, so I wanted to share some thoughts. Anything to add? I’d love to hear your take in the comments.

Why Price Indexing?

George Dell

Market-specific price indexing is powerful and underused! It improves accuracy and precision of appraisals. It enables an objective market analysis. It forms a natural path from traditional, judgment-based appraisal to informative, evidence-based professional analyses.

Can You Measure Market Velocity?

George Dell

Appraisal is market analysis!” Freddie Mac Chief Appraiser Scott Reuter recently noted pervasive market analysis deficiencies in appraisal opinions. The post Can You Measure Market Velocity? is the title of a 1975 journal article by Richard Ratcliff, MAI.

Why Hire an Eminent Domain Attorney?

Appraisers Blog

Related Posts: Eminent Domain Attorney Review How Does an Eminent Domain Attorney Critique and Review An Appraisal Upon Which His Client’s Just Compensation Is Based? Appraisers always had the power to end the appraisal management pyramid scheme. appeared on Appraisers Blogs.

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Why Appraisers Don’t Depreciate Land

Cleveland Appraisal Blog

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. Do I Need A Probate Appraisal?

Appraisal Value vs. Market Value: What is the Difference?

Mashvisor

Whether you’re selling or buying an investment property, its appraisal value vs. market value is something you’re bound to wonder about.

The Loan Officer’s Guide to Appraisals Part 9: New Construction

Riverfront Appraisals

Welcome to the September edition of our blog series, The Loan Officer’s Guide to Appraisals. This entire year, I’ve been blogging once a month with the purpose of assisting loan officers to better understand the appraisal process.

Violating Appraisal Independence Through Harassment, Intimidation & Coercion

Appraisers Blog

It shall be unlawful… to engage in any act or practice that violates appraisal independence… Appraisers, I have written the info below, which you may use if you desire to send to your clients and local real estate offices. Low Appraised Value = Racial Bias?

What is Market Conditions?

George Dell

The conditions of the market, in real estate, means the relationship between supply and demand. In such cases, forecasting may also be important where build-out and rent-up times affect value. The post What is Market Conditions?

The Loan Officer’s Guide to Appraisals, Part 1:  The Final Inspection

Riverfront Appraisals

Welcome to the very first post in our all-new series The Loan Officer’s Guide to Appraisals. Well – not really the end, but one of the last parts of some appraisals – namely the final inspection. Hey friends!

Market Conditions Analysis: Should GSEs Require It?

George Dell

Per FreddieMac (Scott Reuter, Chief Appraiser)[1] recently stated: “Appraisers need to spend time on developing a market conditions analysis in the appraisal. It’s truly the backbone of the appraisal.” The post Market Conditions Analysis: Should GSEs Require It?

3 Ways Agents Can Help Appraisers to Be More Accurate

Cleveland Appraisal Blog

In most parts of the country, real estate appraiser’s main source of data is the multiple listing service. MLS) We use it to find homes that are comparable to the ones we are valuing, to determine what buyers are paying for similar homes. Is My Home Appraisal Confidential?

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The Fall 2022 Appraisal Buzz Magazine is Here!

Appraisal Buzz

The latest edition of Appraisal Buzz Magazine is here! This year, our magazine is loaded with insightful articles ranging on topics such as market value to ANSI standards, and so much more! The Appraiser Town Hall Panel covers a variety of topics.

What It Takes to Be An Expert Appraisal Witness in An Eminent Domain Case

Cleveland Appraisal Blog

This week I have a bonus article for my appraisal colleagues who are interested in becoming expert appraisal witnesses in eminent domain cases. Appraising property in an eminent domain case requires unique expertise and skills. Do I Need A Probate Appraisal?

The Challenges of Appraising Multifamily Properties

Appraisal Buzz

When you calculate a house’s worth, you think about how numerous factors position the property in the current market. This process has appraisers review location, condition, and other variables so they can assess whether buyers will be interested.

4 Uncontrollable Factors that Can Affect Home Appraisals

Appraiserblogs

…some uncontrollable factors that come into play when determining the value of residential property… There are many factors that can affect the valuation of a residential property. Appraisers... Related Posts: Why is Only One Side of This Story Being Told?

What Kind of Appraisal Support Do You Want?

Cleveland Appraisal Blog

Just like going cheap when buying running shoes can be costly, the same is true when it comes to hiring an appraiser. If you’re in need of an appraisal, I highly recommend not going with the cheapest appraiser. Is there really support for what the appraiser is reporting?

What About Those Fixer-Uppers? Insights from a Seasoned Appraiser

McKissock

For many different reasons, properties can come on the market in less-than-par condition. The degree and cost to cure becomes an issue to buyers and sellers, and a challenge for appraisers. There could be such a buyer out there, but is that the market?

What’s that Smell Worth? Insights from a Seasoned Appraiser

McKissock

The negative impacts on the marketability of residential properties caused by odors from pet dander, feces, and urine can be significant factors in the price a buyer is willing to pay. For example: I had an assignment to appraise a 3,500 sq. How do appraisers address these odor issues?

Promoting Public Trust Part 11:  Competency 

Riverfront Appraisals

Competency is a big part of the appraisal world and is one of the keys […]. The post Promoting Public Trust Part 11: Competency appeared first on Riverfront Appraisals. Competency, as defined by the Google Dictionary, is “the ability to do something successfully or efficiently.”

There’s No Correct Answer in Appraising

McKissock

He ordered appraisals from three different appraisers, and the purchase price was to be the average of the three value opinions. He knew there’s no correct answer in appraising. Because there’s no correct answer in appraising.

A Push to Artificially Raise Property Values

Appraisers Blog

Now the effort is AGAIN to have ‘us’ artificially raise property values. the modern appraisal industry perpetuates racial inequality through its continued use of the “sales comparison approach”. The post A Push to Artificially Raise Property Values appeared on Appraisers Blogs.

Eminent Domain Attorney Review

Appraisers Blog

How Does an Eminent Domain Attorney Critique and Review An Appraisal Upon Which His Client’s Just Compensation Is Based? Attorneys representing property owners and appraisers responsible for documenting the value of the property being taken often work together in an eminent domain case.

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UT West Campus Condos Market Values

Texas Home Appraisal Blog

The area known as West Campus near University of Texas is a hot spot for condos sales and rentals due to the obvious transient nature of the market area. The post UT West Campus Condos Market Values appeared first on Austin Home Appraisal Team.

How Do Sales Concessions Affect Market Value?

Texas Home Appraisal Blog

Concessions listed on comparable sales are an important factor that an appraiser needs to weigh when performing an appraisal. Depending on the amount of the concession, and what is typical within the market area, they can have a drastic impact on the adjusted value.