Cleveland Appraisal Blog

SEPTEMBER 21, 2023

Did I give up on blogging and podcasting? Anyhow, I’ve missed blogging and I’m sorry for being gone so long. Anastasia Corjan reached out to me a little over a year and a half ago to invite me to be an Appraisal Ambassador for them. I hope you all have been doing good and hanging in there. Did I go dark?

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Marketing Real Estate Agent Real Estate Appraisal 300

Cleveland Appraisal Blog

AUGUST 25, 2022

Today, Cleveland Appraisal Blog shares a few tips for first-time investors. If your home has an unfinished basement, you might be able to convert this to a living, meditation, or exercise room for somewhere in the ballpark of $17,459 – you can go up much higher, but an economic renovation should fall somewhere in that range.

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Cleveland Appraisal Blog

MAY 26, 2023

Most weeks I perform appraisals for divorce or a marriage dissolution. In recent years, on several occasions, I have been hired to appraise a property after a valuation service was provided for my client by another real estate professional. But then they had to hire me to perform an appraisal. That’s right!

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Cleveland Appraisal Blog

APRIL 26, 2023

With a shortage of housing inventory persisting, some are resorting to building their own home. This week, I welcome back guest blogger, Ashley Rodriguez with bins4less , who wrote this article for the Cleveland Appraisal Blog. With regard to a Realtor’s industry connections, I would add independent appraisers.

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Cleveland Appraisal Blog

JULY 28, 2022

Moving out of state to Cleveland and looking for a new place to call home? Visit the Cleveland Appraisal Blog for expert advice and assistance. Understandably, if you are moving to a new town, you probably aren’t in a rush to make any hasty decisions when it comes to purchasing a home. Deciding on a place to live.

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Appraisal Buzz

APRIL 2, 2024

BLOG VIEW: In a fast-moving industry, being prepared is never enough. Despite these challenges, lenders still have to make the loan origination process simple and understandable for the borrowers they serve, even in a fast-changing market. There is much more to it, of course, but that’s a primary focus.

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Appraiserblogs

APRIL 18, 2024

Throughout the history of mortgage banking and lending in the United States, underwriting policies have significantly influenced the appraisal process for home purchases and refinances. Appraisers must follow underwriter appraisal review guidelines meticulously to ensure their appraisal reports are accepted by the lender.

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Cleveland Appraisal Blog

SEPTEMBER 3, 2021

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. There may be a very comparable home with similar square footage that sold recently.

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Cleveland Appraisal Blog

JUNE 17, 2022

What’s the difference between a newly constructed home and a hundred-year-old home? 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.

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Cleveland Appraisal Blog

JUNE 2, 2022

Here, the Cleveland Appraisal Blog presents some great advice about finding the best house and considering other alternative arrangements. Another sign that your family member may need some help is if you visit and their home is in complete disarray. Finding a New Home. Source – Unsplash. Know When They Need Help.

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Cleveland Appraisal Blog

SEPTEMBER 2, 2022

Have you ever read thru an appraisal report? The Sales Comparison approach, as the name implies, compares the property being appraised to other properties that a potential buyer might consider as a substitute for buying the property being appraised. When completing an appraisal, there may be four values.

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Cleveland Appraisal Blog

AUGUST 20, 2021

If you’re not an appraiser, if you are trying to figure out the value of a home, chances are good that you use a price per square foot metric. That way of measuring the market can lead to an opinion of value that is in the ballpark of a home’s market value. Last year, I appraised a home for a homeowner.

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Appraisal Market Value Contracts Agents 418

Cleveland Appraisal Blog

AUGUST 11, 2022

Do you fix your home up or sell it as-is? This week I welcome back guest blogger Betty White who shares some pros and cons of selling a home in its as-is condition. For some homeowners, extensive renovations can present a challenge in terms of time and finances, particularly if you plan to move out of your home soon.

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Renovations Buyers Appraisal Investing 221

Cleveland Appraisal Blog

MAY 6, 2022

Essential Home Moving Tips for Seniors. Or, it could be that your fixed income tightened the purse strings, and living at home suddenly started feeling like a tall order. Packing up your suitcases and leaving your family home is never easy, regardless of age. I hope that you enjoy her article! Greener Pastures await you!

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Cleveland Appraisal Blog

APRIL 15, 2021

I am honored to welcome back Author Jessica Brody , with a new and timely article that I think you will find helpful if you’re looking to buy a home. Although certain things, such as crowded open houses, will be off-limits for the time being, it’s still entirely possible to buy a new home. Assess the Financial Picture First.

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Cleveland Appraisal Blog

JANUARY 28, 2022

If you’re a regular reader of my blog, you know that I enjoy having guest bloggers write articles for the Cleveland Appraisal Blog. With that said, this week I am happy to welcome back a regular guest to my blog, Jessica Brody! I remember the years of working from home before they were old enough to go to school.

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Appraisal Buzz

MARCH 14, 2022

BLOG VIEW: Most are familiar with the appraisal standards used to identify the condition of homes during the appraisals process. Fannie Mae, Freddie Mac, HUD and VA use codes to simplify this process. These codes are C1 thru C6 the former being the best condition homes and the later the worst.

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Cleveland Appraisal Blog

APRIL 23, 2021

June reached out to me to see if I would be interested in having her write a piece for the Cleveland Appraisal Blog, on helping the elderly or disabled when they are in decline. People who are helping their loved ones with estate issues will benefit from checking out the Cleveland Appraisal Blog. This is the case today.

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Appraisal Buzz

FEBRUARY 8, 2022

BLOG VIEW: As the housing market moves toward one characterized by rising home prices, increasing interest rates and decreased consumer demand, lenders may feel more pressure to meet borrower expectations of a more efficient, seamless and secure origination process – or risk losing those borrowers to the competition.

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Appraiserblogs

NOVEMBER 7, 2023

Could it be because of the racial bias complaint filed against me by an unhappy Seller… Fannie Mae accomplished what they set out to do in July 2011, when they initiated their Uniform Appraisal Dataset (UAD) and the Uniform Collateral Data Portal. Related Posts: Low Appraised Value = Racial Bias?

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Sellers Valuation Law Contracts 130

Cleveland Appraisal Blog

OCTOBER 29, 2021

If you’re reading through an appraisal report, and you make it to the Cost Approach, which is where appraisers report either the reproduction or replacement cost of the home they are appraising, you will see a little field that says, “ Remaining Economic Life “ What does this number indicate?

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Housing Wire

DECEMBER 14, 2021

In a blog post, Fannie Mae and Freddie Mac ’s regulator and conservator said it found examples of “overt references to race, ethnicity, and other prohibited bases under federal fair lending laws,” which FHFA said indicate the “continued presence of valuation bias.”.

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Cleveland Appraisal Blog

MARCH 4, 2021

Like most aspects of an appraisal, things seem easy. It seems logical to think that a newer home is more valuable than an older home. Last week, a real estate agent asked me about how appraisers adjust for age. Let’s think about a home that was just built and never lived in. Age is a good example.

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Cleveland Appraisal Blog

JUNE 25, 2021

What is the primary reason a newly built home has a higher market value than the same home that is older? There are three basic causes of depreciation for homes. What do they indicate and how do appraiser’s measure depreciation? As a home ages, it begins to deteriorate. In a word, depreciation.

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Market Value Appraisal Marketing Buyers 244

Riverfront Appraisals

APRIL 5, 2023

So far in this season of our blog, we’ve covered 13 frequently asked questions about the real estate appraisal process, and most of them are questions we get during or after our on-site visit. Our current post is different in that we get this question before we ever get to the home.

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Appraisal Appraisal Process Real Estate 110

Cleveland Appraisal Blog

AUGUST 20, 2021

If you’re not an appraiser, if you are trying to figure out the value of a home, chances are good that you use a price per square foot metric. That way of measuring the market can lead to an opinion of value that is in the ballpark of a home’s market value. Last year, I appraised a home for a homeowner.

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Appraisal Market Value Contracts Agents 263

Appraiserblogs

DECEMBER 21, 2022

The VA will now be required to encourage hybrid appraisals. If you are a VA Appraiser, here’s a bit of news you need to keep tabs on. Senate Passes VA Appraisal Modernization Measure – theMReport.com The U.S. Senate has announced the passage of HR 7735, the Improving Access to the VA Home Loan Benefit Act of 2022.

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Cleveland Appraisal Blog

JANUARY 7, 2021

Now, instead of a car, think about something of value in a home, like a bathroom, or a garage. A home with two bathrooms may be very desirable in an area. However, what if a home has four bathrooms, when two bathrooms is more than sufficient? CONSIDERING LAND IN THE APPRAISAL PROCESS. That is how value works.

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Appraisal Legal Inspection Real Estate 344

Appraisal Buzz

MAY 31, 2021

A husband and wife requested a bank appraisal to refinance their Jacksonville, Florida home. Only the wife was at home to greet the appraiser when they arrived to inspect her home. When the couple received the final appraisal report of their home’s value, they were shocked!

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Appraiserblogs

OCTOBER 4, 2022

Something that has ‘stuck in my craw’ or ‘frosted my cookies’ for years is the nonsense about stating a specific “PREDOMINANT” price for neighborhood homes. The possible exception to this are highly dense urban developments where the new construction homes are cookie cutters, and the builder sells. Real estate is IMPERFECT.

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Chicagoland Appraisal Blog

NOVEMBER 8, 2021

2 months ago I wrote an article comparing Zillow’s Zestimate program to a regular appraisal process. It’s difficult to disagree with this characterization based on the data in this blog post. Zillow Zestimate Appraisal Accuracy. The Zestimate is not an appraisal and it should be used as a starting point.

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Appraiserblogs

MAY 23, 2023

While the statute doesn’t explicitly mention that providing a loan amount is an AIR violation… When a mortgage lender seeks to make a Veterans Administration-backed home loan, the lender requests an appraisal from the VA’s appraiser panel by using a form entitled Request for Determination of Reasonable Value.

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Genworth MI Blog

FEBRUARY 29, 2024

The mortgage process involves diligence and timeliness to ensure that borrowers can meet their closing date – that diligence is also required to master the appraisal review process. Ensuring you know the ins and outs of the appraisal review is imperative to help your borrowers meet that end goal on time.

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Appraiserblogs

APRIL 25, 2023

Here’s a great take on the difference between Certified Appraisers vs. Unlicensed Data Collectors by Leigh Brown, President of the NC Association of REALTORS. Fannie Mae has been working hard to get rid of appraisers for years. Their latest twist is to re-categorize many appraisers as “Unlicensed Data Collectors.”

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Appraiserblogs

JANUARY 6, 2023

The appraisers are the convenient scapegoats every time. The appraisers are the convenient scapegoats every time. During the 1980s it was the commercial side, yet residential appraisers received both barrels of double-odd buck. Why would I bother taking on the added risk of an inconvenient process? Predatory lenders had.

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Riverfront Appraisals

JANUARY 18, 2023

This blog post is brought to you by the Guide To Appraisals series of e-books.

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Appraiserblogs

OCTOBER 12, 2022

The government wants to move to a fully automated appraisal format, and the more that they can dirty the narrative in their favor, the quicker they get to their objective… This just in: In a recent memo, the CFPB wants you to know that if you are buying a home, that you can contest your appraisal. This isn’t new.

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