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Race and the Property Valuation Industry

Appraisal Buzz

Only the wife was at home to greet the appraiser when they arrived to inspect her home. The second appraiser could also have been incompetent, resulting in an over valuation of the couple’s property. However, the husband and wife in this article are not valuation professionals. Let’s unpack this situation…. My Journey.

Valuation 370
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House Measurement by Property Data Collector Gone Wrong

Appraiserblogs

The lender allowed an unlicensed property data collector give bad data to the appraiser… I work for this lender and they will not let my trainee inspect. The owners are now underwater by more than $100,000… I’m sad and I’m mad! I recently took on a measure job for a client who was questioning the square footage of their home.

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Certified Appraisers vs. Unlicensed Data Collectors

Appraiserblogs

Fannie Mae will end up creating more instability for the trillions in the bond market – investors will have to process millions of valuations with the physical attributes of the home collected by unlicensed, uninsured, and unprepared individuals getting paid $10-$25 per inspection. AI meets with Fannie Mae regulators to.

Appraisal 125
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FNMA Property Data Collectors Program Violates WV Law

Appraiserblogs

The act specifically states that only a casual or drive-by inspection can be performed when it comes to consumer loans secured by real estate, and no opinion can be rendered as to its value nor any fee charged for such an inspection. ARTICLE 38. THE REAL ESTATE APPRAISER.

Law 146
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Speed Regardless of Accuracy Under the Banner of Modernization

Appraiserblogs

Appraisers, something – comparing and contrasting – dawned on me last week, after reading another news release titled “Dean Kelker: Appraisal Modernization is Starting to Gain Momentum“, which is basically pushing an “Enterprise” singular ‘agenda’ of valuation speed regardless of accuracy. Under the banner of “modernization.”

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Savvy real estate agents look beyond ChatGPT

Housing Wire

It is trained on text data and learns to identify patterns from that data to generate human-like text responses. Which real estate functions can AI outperform humans I asked GPT-4 about real estate valuation. It could be the listings, noteworthy closed transactions, blog posts, videos, podcasts, website copy and agent bios.

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Increasing Diversity in Appraisal Profession.

Appraisal Buzz

The Urban Institute recently released a blog post entitled – Increasing Diversity in the Appraisal Profession Combined with Short-Term Solutions Can Help Address Valuation Bias for Homeowners of Color. In the past, financial institutions were a viable training ground. This is a difficult problem to solve.

Appraisal 370