Appraisal Today

MARCH 22, 2024

Appraisal Business Tips Humor for Appraisers Click here to subscribe to our FREE weekly appraiser email newsletter and get the latest appraisal news!! And some tips on how to keep your appraisal credentials safe. To read more, Click Here My comments: Worth reading. Good analysis of factors in comp selection.

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Appraisal Today

JUNE 17, 2022

Excerpt: We continue to see claims alleging that the rural property appraiser failed to adequately identify or report details surrounding a water source. In one claim, the appraiser correctly noted that the property was serviced by a “private water well.” Appraisers – check the water source! Hybrid appraisal survey ).

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Appraisal Today

OCTOBER 27, 2023

Strange Encounters in Property Appraisal By: McKissock Excerpts: Property appraisal is not typically thought of as a “dangerous” profession per se. Recently we asked our appraisal community, “What’s the weirdest property you’ve appraised recently?” I worked for an assessor’s office for 5 years in my first appraisal job.

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Appraisal Today

FEBRUARY 24, 2023

What Level Appraiser Are You? What is the mark of an appraiser who is at the top of his or her “game”? For example, are you competent to prepare an entire appraisal from start to finish? But what if the appraisal form was completely blank with no boilerplate text? A Level 1 appraiser checks boxes.

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Appraisal Today

FEBRUARY 17, 2023

What Appraisers Wish Real Estate Agents Understood McKissock Survey Question: “What’s one thing you wish real estate agents knew about the appraisal process? I will always remember when, many years ago, a top local real estate agent asked me why I was driving around taking photos of homes.

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Appraisal Today

MARCH 31, 2023

Fannie Mae: Appraisals are no longer the default option: Value Acceptance replaces Appraisal Waiver Fannie Mae updated its Selling Guide on March 1 to include more options for property valuations, saying that they are “moving away from implying that an appraisal is a default requirement.”

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Appraisal Today

DECEMBER 22, 2023

Per The Dictionary of Real Estate Appraisal, 6th Ed., Example #1: Superadequate custom fireplace Example #2: Superadequate 12-car garage To read more, Click Here My comments: Although the blog post references luxury homes, this can occur anywhere. 12 Days of Appraiser Christmas Very funny!!

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Appraisal Today

FEBRUARY 16, 2024

Historical Properties and Their Unique Appraisal Approaches Excerpts: Appraising historical properties involves a complex interplay of factors, making it a specialized field within real estate valuation. For many years I appraised in the nearby city of Berkeley, CA. Worth reading. A good summary. I was surprised.

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Appraisal Today

OCTOBER 13, 2023

How to Level Up as an Appraiser By Conrad Meertins Jr. For example, are you competent to prepare an entire appraisal from start to finish? But what if the appraisal form was completely blank with no boilerplate text? For example, you understand that you do not need a form to produce an appraisal. Are your legs shaking?

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Appraisal Today

FEBRUARY 9, 2024

How do appraisers consider appliances? also clarifies when appliances are required to be operational by stating, “Appliances that are to remain and that contribute to the market value opinion must be operational,” and, “The Appraiser must note all appliances that remain and contribute to the Market Value.” FHA Handbook 4000.1

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Appraisal Today

APRIL 28, 2023

Appraising Solar Panels By Mark Buhler Excerpts: You drive up to the property. First: How do appraisers value any amenity of a property? Appraisal 101 would suggest the matched pairs analysis. Excerpts from text: No two real estate appraisal assignments are alike. What to do? Those are certainly options.

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Appraisal Today

MAY 26, 2023

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.” Conservation easement appraisals are a definite risk for appraisers.

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Appraisal Today

OCTOBER 14, 2022

Appraisal Risk, Reviews, and Revisions. Excerpts: This is part three of a three part series on appraisal review – Read parts one and two. I am often posed with the following question “How do you know when you are looking at a “good” appraisal?” Appraisers and AMCs spend less time and have fewer hassles. By Ken Dicks.

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Appraisal Today

AUGUST 13, 2023

ChatGPT: Valuable Tool or a Replacement for Real Estate Appraisers? I have not had time to use it, but have been reading and watching demos about how it can be used for appraisers for awhile. I recently had to renew my California Driver’s license, as I am over 70 and had to do a written exam and eye test.

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Appraisal Today

FEBRUARY 2, 2024

The Appraisal World Is Changing January 25, 2024 Excerpts: There has been a lot of talk about the Uniform Appraisal Dataset (UAD) and Uniform Residential Appraisal Report (URAR) redesign initiative, and how it will make life easier for appraisers. 2024 Updated UAD and URAR – What does It Mean for You?

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Appraisal Today

NOVEMBER 20, 2022

Sins of the Past Are Back to Haunt Appraisers. Fannie Mae Takes A Closer Look at Appraisals. Excerpts: In the recent past, when appraisers were swamped. Even with the Collateral Underwriter program review, appraisers were overwhelmed. Tier 1 appraisers have little to fear but tier 2 and 3 appraisers….

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Appraisal Today

DECEMBER 9, 2022

How to Reduce Appraisal Revision Requests. Excerpts: To cut down on appraisal revision requests, it is important to keep these best practices in mind: Communicate in a timely manner. If you disagree with the request for appraisal submissions or have concerns or need clarification, please reach out for clarification.

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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

How to Handle Appraisal Pressure and Stay Ethical? Excerpts: There’s no simple and easy way to deal with appraisal pressure. A major source of frustration for appraisers is the realization that clients do not have to follow USPAP. The ethical and performance requirements of USPAP apply only to appraisers, not to clients.

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Appraisal Today

MAY 20, 2022

Excerpts: I called the listing agent on the property I was to appraise and asked if they knew how an appraiser might go about obtaining a floor plan (for my desktop appraisal). They ended up converting the assignment to a traditional type of appraisal so that I could just make the inspection myself. Appraiser Retirement?

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Appraisal Today

JUNE 2, 2023

Concessions, Kickbacks, and the Appraiser’s Nightmare by Richard Hagar, SRA Excerpts: What Appraisers Must Do There are many steps appraisers must follow, more than I can list here. Learn how to provide an accurate value conclusion that protects the appraiser from the potential ramifications of their bad acts.

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