Appraisal Today

JULY 14, 2023

Three large en-suite bedrooms and office on the main plus a large daylight lower-level flex space (guest suite/gym or media room) with ¾ bath, kitchenette and floor to ceiling glass doors leading to the pool. Expansive limestone terrace overlooking the rose garden, specimen trees and level lawn. Phone app. – The 8,000+ sq. 3 bedrooms.

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Appraisal Today

JULY 28, 2023

To read more, click here My comment: Another very interesting viewpoint from George Dell, the Data Science Guy! If my articles helped you understand it, it is worth the subscription price! Here is the Link to the Bulletin. In many ways, appraisers forget the purpose of the appraisal assignment – which is to value real estate.

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Appraisal Today

DECEMBER 8, 2023

OK to average adjusted comps on appraisal? To Mean, or Not to Mean, That is the Question By Brent Bowen Excerpts: There seems to be a consensus among appraisal reviewers that the appraiser should not average the adjusted sales prices of their comparables in order to arrive at an indicated value of the subject from the Sales Comparison Approach.

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Appraisal Today

NOVEMBER 24, 2023

Appraisers, and surfers, have varying levels of experience, and experiences. Most appraisers have been through some extremely busy seasons that have been very positive. To read more, Click Here My comments: Read the full article! This article uses surfing as an excellent illustration. A very good analogy to appraising.

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Appraisal Today

MARCH 15, 2024

To read more and see the photos, Click Here My comment: I included some of these homes in previous email newsletters, but thought this article fit well with daylight savings time so I am including it in my blog. What if there are few rural areas near you? You can expand your area to include rural appraisals to get more business.

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Appraisal Today

JUNE 23, 2023

Topics include: USPAP and state laws Types of lawsuits brought to appraisers Disclosures and disclaimers to reduce appraisal liability risks To read more, click here My comments: Peter Christensen is very knowledgeable. However, it’s a good idea to know where the risks lie—and how to avoid them. Well written, short, and worth reading.

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Appraisal Today

JULY 7, 2023

To read more, click here My comments: Long article and worth reading. I was very, very embarrassed. Appraiser Countersues Black Plaintiffs Who Alleged Discrimination by Isaac Peck, Publisher WorkingRE There are now a number of lawsuits facing appraisers where the primary allegation is racial discrimination. Tate-Austin v.

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Appraisal Today

AUGUST 4, 2023

By Jeremy Bagott, MAI Excerpts: In his 1946 essay “Politics and the English Language,” the late British novelist, essayist and critic George Orwell examined the connection between political orthodoxies and the debasement of the English language. Soon, these words, too, will need to be banned. Lots more AMC/lender appraisal correction requests.

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Appraisal Today

AUGUST 18, 2023

Dragon is very well-liked among appraisal professionals, making it number one on our list of must-have apps for appraisers. Dragon is very well-liked among appraisal professionals, making it number one on our list of must-have apps for appraisers. The company boasts a 99% accuracy rate as well as powerful voice editing capabilities.

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Appraisal Today

NOVEMBER 3, 2023

FHFA’s Desktop Appraisal Oversight: OIG Report Highlights Documentation Gaps Oct 31, 2023 Excerpts: The lack of consistent record-keeping on desktop appraisal reports could pose risks to financial safety, with the OIG pushing for increased transparency and improved monitoring. Fee issues – too low?

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Appraisal Today

JUNE 10, 2022

Loan applications are way down, the lowest in 22 years. Purchase vs. refi appraisals. This is very important for both lender and non-lender work. ==. Articles available: Business slow? Practices will continue to evolve toward objective data selection and predictive models. This is the past. The living room is round.

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Appraisal Today

MARCH 31, 2023

If appraisers don’t stand up and say no, right now, the running joke of the appraisal industry could be gone in five years; well, it just very well may come true. Those options include value acceptance (formerly appraisal waivers), value acceptance plus property data and hybrid appraisals. First, “third party” inspections.

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Appraisal Today

APRIL 7, 2023

AMCs Assuring that the appraiser has the correct contact information for an inspection is very important. Very good tips in the article. Written in 2-22 but is still very relevant today. The Mailbox is Full and Cannot Accept Any Messages at this Time. I get a few telemarketers’ messages. Work on organizing your emails.

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Appraisal Today

OCTOBER 20, 2023

Fannie Mae Filed a Complaint Against Me October 18, 2023 Excerpts: In June of 2021, I completed an appraisal for a conventional purchase. The appraisal was ordered by an AMC on behalf of a lender. At that time, the real estate market was still being wildly affected by the COVID pandemic. This approximately 900sf, 1.5 acres of wooded land.

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Appraisal Today

AUGUST 26, 2022

In fact, Fannie Mae will not purchase a mortgage on a property if the cost approach is the primary or only method of valuation used. My comment: I included this article plus the one below, which both address the Cost Approach’s common appraisal questions. In my area, there are very few land sales. To read more, click here.

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Appraisal Today

NOVEMBER 4, 2022

Have a very responsive credo. Keep them up to date in every step of the report so that they can keep the Lender (and the Buyer/Seller/Realtor/Closing Attorneys when applicable) all in the loop on the progress of the report. Appraisers Share Their Best Tips for Working with AMCs. By McKissock. 4) prioritize communication.

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Appraisal Today

JUNE 3, 2022

In popular vacation areas, such as Sedona, AZ, where Julie lives, investors purchase homes and do extensive remodels to turn them into Airbnbs with Airbnb management companies handling everything for them (clean up, new furnishing, and renting). I posted her article on my website so that everyone can read it.

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Appraisal Today

AUGUST 19, 2022

My comments : I have always wanted to live in a glass house (which was very private so no one could see inside). Mortgage applications hit 22-year low (since 2000), lending activity suffers. MBA’s Market Composite Index, which measures mortgage loan application volume, slipped 2.3% Avoid future revision requests.

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Appraisal Today

JULY 8, 2022

as a Model for Appraisals. by Isaac Peck. Excerpts: Step Above the Rest. It’s not a secret that being on the V.A. appraiser roster is a coveted position for most residential appraisers. So, what exactly makes the V.A. so special? Rocha (V.A. appraiser) says the V.A. is a step above the rest primarily because of the following criteria.

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Appraisal Today

NOVEMBER 10, 2022

Use of unsupported or subjective terms to assess or rate, such as, but not limited to, “high,” “low,” “good,” “bad,” “fair,” “poor,” “strong,” “weak,” “rapid,” “slow,” “fast” or “average” without providing a foundation for analysis and contextual information. To read more, click here. Nothing new, but good reminders. Humor for Appraisers.

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Appraisal Today

SEPTEMBER 30, 2022

Read this article on how to check CO detectors. Killed by Carbon Monoxide: Appraiser Blamed. You may save someone’s life!! by Kendra Budd, Associate Editor, WorkingRE. Many experts advise that the state and federal standards requiring these important systems exist for a reason.

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Housing Wire

DECEMBER 20, 2021

With those two factors still very much in play, here is my 2022 forecast. This is very similar to what I have done in the past, paying my respects to the downtrend in bond yields since 1981. This is very similar to what I have done in the past, paying my respects to the downtrend in bond yields since 1981. The forecast.

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Appraisal Today

FEBRUARY 16, 2024

This article provides an insight into the appraisal process of historical properties, emphasizing the role of market data, potential buyers, specialized databases, appraisal methods, and the significant impact of preservation restrictions. Worth reading. A good summary. I suspect that a company based in Boston, MA sees lots of historic homes!

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Appraisal Today

SEPTEMBER 8, 2023

To read more, click here My comments: If you want to know more, before (or after) accepting an Airbnb appraisal, definitely read this article. The article is one of the best I have read, and includes many of the AMC, USPAP, GSE, etc. The article is one of the best I have read, and includes many of the AMC, USPAP, GSE, etc.

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Appraisal Today

APRIL 12, 2024

The list of non-lender uses is very good. It’s a very exclusive area.” “The Desktop Appraisals: Who, When, and Why Excerpts: The ability to identify property characteristics without a personal inspection is not a new concept. I have done drivebys for estate appraisals when the home had been sold and I had no access.

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Appraisal Today

OCTOBER 13, 2023

How to Level Up as an Appraiser By Conrad Meertins Jr. Do you still feel the same level of assuredness? These questions help us to start to gauge our current level. The three levels that we are going to discuss are “Beginner,” “Intermediate,” and “Pro.” It’s your choice which level you choose to pursue.

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Appraisal Today

JANUARY 26, 2024

NOTE: Please scroll down to read the other topics in this long blog post on forecasts for mortgage rates, a look back at the 80s a very similar mortgage market, appraising in a changing market, unusual homes, mortgage origination stats, etc. == A Redesigned $48.5M Lender B engaged me to perform a new appraisal assignment on the same property.

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Appraisal Today

APRIL 28, 2023

The article is worth reading. Appraising Solar Panels By Mark Buhler Excerpts: You drive up to the property. There they are, on the roof: those shiny black rectangles that are just about to turn a simple assignment into a headache. What to do? Put the car in reverse and slowly back away? Call the client and have them re-assign the order?

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Appraisal Today

SEPTEMBER 15, 2023

The survey results had a comparison of 2022 and 2023, which was very interesting. The 21 percent who cite other challenges are most likely to cite lack of business/slow market, rising interest rates, low fees, and to reiterate pressure from AMCs. A very good graphic is included for each section. Some may be of interest to you.

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Appraisal Today

MAY 12, 2023

Inspection or desktops are fine, but fees may be low and many don’t want to do them. He was very much influenced by Frank Lloyd Wright and one of the first to think in terms of organic architecture. Very tough market now with many layoffs. Very funny My comment: Appraiser comedians are hard to find!

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Appraisal Today

DECEMBER 22, 2023

Large unusual additions, two large kitchens, very extensive landscaping, etc. 12 Days of Appraiser Christmas Very funny!! Hard to determine as the language is very broad and not very specific. How to Account for a Superadequacy By: McKissock Excerpts: What is superadequacy? This definitely has happened to me.

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Appraisal Today

MAY 26, 2023

Cosmetic vs. 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.” Here is some guidance on cosmetic repairs vs. MPR repairs. billion tax fraud scheme.

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Appraisal Today

OCTOBER 6, 2023

2024 USPAP Source: Appraisal Foundation The 2024 Uniform Standards of Professional Appraisal Practice is now available for purchase in physical and digital formats. This year, for the first time, you can purchase just the book of USPAP standards for $35. This covers all Definitions, Rules, and Standards.

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Appraisal Today

DECEMBER 16, 2022

My comments: Bill Rayburn, Chairman, and CEO at mTrade, is an excellent speaker and very savvy. Cars enter the home at ground level, pulling into a gallery-like expanse that accommodates as many as eight vehicles. To read lots more and see very interesting photos, click here . To read more, click here. Worth attending.

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Appraisal Today

APRIL 2, 2023

What Do Appraisers Look For in a Sales Contract? Why must an appraiser be given a copy of the sales contract? First and foremost, Standards Rule 1-5 in the Uniform Standards of Professional Appraisal Practice (USPAP) states that we are to: “analyze all agreements of sale.” That’s the real reason why—because USPAP says so.

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Appraisal Today

NOVEMBER 17, 2023

4 Myths About Property Data Collection By McKissock Excerpts: Myth #1: PDC is the same thing as property appraisal As a professional appraiser, you know very well that what a property data collector does is not the same as what you do — even if your clients don’t always understand the difference.

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Appraisal Today

SEPTEMBER 2, 2022

A Very controversial topic! I was trained at an assessor’s office with no pressure to appraise high or low, fail to disclose defects, etc. I was very lucky. For new clients, I make it very clear that I will not be unethical by giving them what they want upfront. Educate your appraisal clients.

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