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Non-Arms Length Sales for Appraisers

Appraisal Today

The 7 Sale Types Explained Excerpts: An arm’s length sale – a sale in which the buyers and sellers act independently and in their own self-interest is the most common type of real estate transaction. A non-arm’s length sale in real estate is a transaction between a seller and buyer who have a connection by marriage, family, work, etc.

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NAR Member Survey on Appraisal Data Collectors

Appraisal Today

NAR Member Survey on Data Collectors Excerpts: In May 2023, NAR surveyed its members pertaining to data collectors in the appraisal process. Here are a few of the many survey results. Survey respondents Sales agents accounted for the largest proportion, with 45% of participants holding this license.

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The End of Lender Appraisals?

Appraisal Today

In a truly Orwellian move, mortgage giant Freddie Mac recently announced its intent to censor an arbitrary collection of words such as “desirable,” “safe,” “well-kept,” “student” and “crime” when they appear, in any context, in the hundreds of thousands of appraisal reports it relies on in mortgage underwriting.

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CubiCasa – Home Measurement From Inside A House

Appraisal Today

Fannie Mae will accept nothing hand-drawn in terms of the sketch…. It took about 15 minutes for me to measure the home. But it would have taken a lot longer if I had to add walls and doors! But it would have taken a lot longer if I had to add walls and doors! It is consistently within 1-3% of my measurements.

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Millennials Expected To Maintain Real Estate Buying Intensity

Will Springer Realtor

Home prices are overheating, mortgage rates are inching up from the start of the year and the supply of homes is in an unseasonable valley – far from its Mt. It’s both fascinating and frustrating to watch. history, continues its march into prime home-buying years at a rate of more than 4.5 Rainier-esque peak of a decade past!

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Fannie’s New ANSI FAQS July 2022

Appraisal Today

When common practice in the local market differs from the ANSI standard, can the appraiser modify the subject’s GLA to conform to local custom? The standard mentions a “statement of finished sq ft”; does Fannie Mae require appraisal reports to make an affirmative statement that the standard was followed? A few of the Q&As.