CA Realty Training

MARCH 22, 2021

Disclosing that the buyer should perform inspections using the BIA, ensures that the buyer has been fully informed and can limit further liability to you as a real estate agent. . GENERAL CONDITION OF THE PROPERTY, ITS SYSTEMS AND COMPONENTS . NEIGHBORHOOD, AREA, SUBDIVISION CONDITIONS; PERSONAL FACTORS. WOOD DESTROYING PESTS.

Inspection 36

Inspection Real Estate Agent Real Estate Clients 36

Appraisal Today

JUNE 16, 2023

None of us enjoy completing revision requests. Rod Stewart Is Selling His Beverly Hills Estate for $70M Excerpts: Stewart’s Beverly Hills, CA, home is like few others, even by A-list-celebrity standards. Then, we look at how new technology enhances our ability to identify inconsistencies in quality and condition ratings.

Appraisal 74

Appraisal Contracts Design Mortgage 74

Realtor

APRIL 7, 2021

That’s because it’s used for tax purposes. But even then, there could be a difference between the listing and the appraisal, says RJ Winberg , a real estate agent from Orange County, CA. What gives? Square footage , you may recall, is calculated when you measure how much floor space there is in a home.

Appraisal 78

Appraisal Real Estate Agent Real Estate Agents 78

Appraisal Today

APRIL 5, 2024

Luxury living at this 10-acre promontory estate in Beverly Hills CA for $120,000,000 Excerpts: 8 bedroom, 20 bath, 30,610 sq.ft., Why an Organized Workfile is Your Best Defense By Craig Capilla Excerpts: We all know that the Uniform Standards of Professional Appraisal Practice (USPAP) set the baseline for what must be included in a workfile.

Appraisal 76

Appraisal Contracts Business Construction 76

CA Realty Training

MAY 18, 2021

To find the perfect home for your buyer, you must use two qualifications to narrow your search. . It will also give your client an opportunity to check out the condition of the home as well as the surrounding area. You will use the Residential Purchase Agreement (RPA). How does a real estate agent help their client buy a home?

Clients 42

Clients Real Estate Agent Inspection Real Estate 42

Appraisal Today

OCTOBER 27, 2023

We’ve organized the strange and spooky properties described by our survey participants into the following categories: Vacant and secluded homes Spooky historic properties Properties in horrible condition Other surprising and strange site visits “Vacant house that neighbors told me had not been occupied for almost 3 years.

Property Appraisal 71

Property Appraisal Appraisal Business Contracts 71

Appraisal Today

APRIL 14, 2023

For many different reasons, properties can come on the market in less-than-par condition. In my MLS “contractor special” is often used. Even if you have comps, there is often a very wide range of conditions. The degree and cost to cure becomes an issue to buyers and sellers, and a challenge for appraisers.

Appraisal 52

Appraisal Bracketing Contracts Valuation 52

Appraisal Today

NOVEMBER 25, 2022

More Crazy Appraisal Stories! Excerpt: Restraining Orders & Appraisals – Never a Great Mix. Eric VanderWaal. The majority of my appraisal work is on divorces and estates, both of which have their fair share of crazy stories. I was appraising a home for a divorce several years ago. I thought it was the wife, but it turned out to be a neighbor.

Appraisal 52

Appraisal Market Value Contracts Finance 52

Appraisal Today

APRIL 1, 2023

If you find other links online, they are not as useful. To read more click here My comment: Fun Vacation Rental for a Big Appraiser Party Trust = Verify: Insights from a Seasoned Appraiser By: McKissock Excerpts: Regression analysis can be an incredibly useful analytical tool, but one should not blindly trust the results.

Appraisal 52

Appraisal Business Marketing Agents 52

Appraisal Today

SEPTEMBER 30, 2022

Rick Bunzel, home inspector and Washington firefighter was able to give us some tips on how to not only tell the difference between the two detectors, but offers additional safety tips on smoke alarms and carbon monoxide detectors as well. The disclaimers are useful. CO Detector vs Smoke Alarm. To read more, click here.

Appraisal 52

Appraisal Inspection Easement Contracts 52

Appraisal Today

FEBRUARY 23, 2024

The truth is there are portions of 2021 and 2022 where prices are exactly the same as today too, so if I use an older comp, I don’t always need to adjust for the way the market has changed. But backing up, I can look at older stuff for the sake of research, but this doesn’t mean I’ll use a super old comp in a report.

Appraisal 67

Appraisal Real Estate Contracts Reconsideration of Value 67

Appraisal Today

AUGUST 26, 2022

Can I use the cost approach as the primary method of valuation?”. In order to comply with Fannie Mae guidelines, the sales comparison approach must be the primary method used to determine the value. 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.

Appraisal 52

Appraisal Business Contracts Advertising 52

Appraisal Today

MARCH 22, 2024

Selecting comparable properties based on price may inadvertently favor properties within a predetermined price range, rather than those genuinely similar to the subject property in terms of location, size, condition, and other relevant characteristics. waterfront), and amenities. To read more, Click Here My comments: Worth reading.

Appraisal 65

Appraisal Contracts Business Insurance 65

Appraisal Today

JULY 14, 2023

What tool do you prefer to use when measuring a house? I was hooked the first time I used it! I was surprised to see how few use phone apps. Recent Appraisal Buzz survey Measuring tape – over half Laser – less than half Guesstimate – a few, but way too many! Phone app. – The 8,000+ sq. 3 bedrooms. A waterfront estate in Seattle.

Tools 76

Tools Appraisal Insurance Contracts 76

Appraisal Today

JULY 21, 2023

Adjustments for pools Last but not least, let’s remember there is no such thing as a one-size-fits-all adjustment for a built-in pool because the value of a pool is going to depend on quality, condition, and even age. I used comps with pools for any homes with and without pools to see any adjustment. The value of a pool for Homes?

Appraisal 88

Appraisal Real Estate Contracts Business 88

Appraisal Today

FEBRUARY 24, 2023

What if you could not use the URAR form at all, but still had to produce an appraisal report that could stand up in court? These questions help us to start to gauge our current level. A pro-level appraiser may use a form. What Level Appraiser Are You? Beginner, Intermediate, or Pro? You might answer, “Absolutely!” Retraction.

Appraisal 52

Appraisal Architecture Valuation Business 52

Appraisal Today

MAY 19, 2023

ChatGPT is an advanced AI language model developed by OpenAI that can be used to streamline the appraisal writing process. Here are some examples of real-life prompts I have used with success. Write a description of where the adjustment came from that I can use in the report.” Every piece of material used tells a story.”

Appraisal 52

Appraisal Business Contracts Real Estate 52

Appraisal Today

DECEMBER 8, 2023

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. But that begs a question… similar how?

Appraisal 66

Appraisal Real Estate Contracts Design 66

Appraisal Today

SEPTEMBER 22, 2023

Using MLS photos is a joke, as real estate agents don’t take photos of defects. I would be more comfortable if someone used an app that was set up to take specific photos, do floor plan, etc. NAR Member Survey on Data Collectors Excerpts: In May 2023, NAR surveyed its members pertaining to data collectors in the appraisal process.

Appraisal 86

Appraisal Training Inspection Real Estate 86

Appraisal Today

NOVEMBER 10, 2022

Here are 5: Reliance in any appraisal analysis on inappropriate comparable sales, or the failure to use comparable sales that are more similar to or nearer to the subject property without adequate explanation. Use of comparable sales data provided by interested parties to the transaction without verification by a disinterested party.

Appraisal 52

Appraisal Real Estate Agent Real Estate Contracts 52

Appraisal Today

JANUARY 20, 2023

Dazzle your friends with your knowledge of external obsolescence. The wonderful world of rats, bats, and spiders. Be a part of the profession blamed for the collapse of the savings and loan industry. See places in people’s houses that usually require a search warrant to access. Be one of a handful of people who know that USPAP is not a medical term.

Appraisal 52

Appraisal Contracts Sellers Business 52

Appraisal Today

MARCH 31, 2023

. ——————————————— Fannie Mae – No Appraisals Required – The End of Appraisers? Hamp Thomas 12 minute video – my favorite commentary on this issue! Two options for the future, both of which do great harm to the appraisal industry. Call to Action. .

Appraisal 52

Appraisal Contracts Inspection Clients 52

Appraisal Today

AUGUST 5, 2022

The use of a Desktop Appraisal may allow an appraiser from outside the market area, but with appropriate credentials for the jurisdiction of the property, to complete the assignment when no local VA fee panel appraiser is available.”. – $3,800,000 in Pismo Beach, CA. . Appraisal Assignment Waterfall. To read it, click here.

Appraisal 59

Appraisal Valuation Contracts Modernization 59

Appraisal Today

JUNE 23, 2023

This Is Where Appraisal Liability Risks Lie (Plus Tips on How to Avoid Them) By: McKissock Excerpts: While it’s difficult for a litigant to win a judgment against an appraiser, that doesn’t spare appraisers the inconvenience of being sued, which can be costly, time-consuming, and harmful to one’s reputation even if the suit fails.

Appraisal 85

Appraisal Real Estate Valuation Contracts 85

Appraisal Today

JUNE 9, 2023

Quality Adjustment Research and Methodology: The Basics By McKissock Excerpt: Quality and condition are not the same. If you’re using county data, and you’re looking at quality ratings in there, how reliably do they rate properties? Should you even be using that data? How reliable is that data? Same problems as Jacob had.

Appraisal 52

Appraisal Advertising Real Estate Contracts 52

Appraisal Today

NOVEMBER 4, 2022

I promise you that this will make you known in your area.”. 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. Remember when they look good and trust you—you look good.

Reconsideration of Value 52

Reconsideration of Value Appraisal Inspection Advertising 52

Appraisal Today

AUGUST 4, 2023

When discussing how market participants view side-by-side school districts, appraisers will figure out they can use synonyms like “advantageous,” “preferable,” or “beneficial” instead. The End of Home Appraisals? It would be hard to make this up. The censorship began with Fannie Mae, and has now predictably spread to Freddie Mac.

Appraisal 71

Appraisal Business Contracts Real Estate 71

Appraisal Today

JUNE 3, 2022

State appraisal boards ARE disciplining appraisers across the country for improperly using the business income (Short term Rental – STR) from Airbnbs on the residential 1007 Fannie Mae form. Most of all, we’re seeing buyers become more sensitive to price, location, and condition since affordability has taken such a beating lately.

Appraisal 52

Appraisal Contracts Real Estate Marketing 52

Appraisal Today

AUGUST 19, 2022

What to Do When Your Appraisal Is Under Review. Excerpt: Topics: Remember that reviewers are on your side. Look out for these common points of contention. The number one mistake is that the appraiser did not include the lender’s specific report requirements,” Nakashima confirms. Review appraiser liability. Appraisal Business Tips .

Appraisal 52

Appraisal Contracts Business Mortgage 52

Appraisal Today

SEPTEMBER 23, 2022

I remember the easy days of market condition adjustments 1% per month up or down, for example, to apply to all detached home appraisals. Maybe you can use some of his ideas, graphs, and/or explanations in your appraisals. My comments: This article uses AEI data, graphs, and reports from June. By Ryan Lundquist.

Appraisal 52

Appraisal Marketing Business Contracts 52

Housing Wire

APRIL 22, 2022

That is typically accomplished through whole loan sales or private label securitizations along with hedging — such as the use of third-party forward contracts that allow for bulk loan sales at a future date at a predetermined rate. The mortgage market is facing a crisis today, and it’s being fueled by fast-rising interest rates.

Lending 394

Lending Mortgage Investors Marketing 394

Appraisal Today

JANUARY 12, 2024

FHFA Report: Underutilization of Appraisal Time Adjustments Published: 1/8/2024 Excerpts: Fannie Mae, Freddie Mac, and Federal Housing Administration appraisal guidelines require such adjustments whenever market conditions have been changing. monthly house price indexes for ZIP codes are used to walk forward the comparable sales amounts.

Appraisal 67

Appraisal Contracts Mortgage Marketing 67

Clear Capital

DECEMBER 2, 2022

Commentary by Brent Nyitray of The Daily Tearsheet. Home price appreciation decelerated again in November as the Clear Capital Home Data Index fell 2.4% quarter-over-quarter (QoQ) and rose 10.3% on a year-over-year (YoY) basis. This compares to a 0.5% QoQ increase,and a 12.6% YoY increase in October. The Northeast came in second, falling 1.5%

Marketing 69

Marketing Supply Chain Real Estate Investors 69

Appraisal Today

JANUARY 26, 2024

Artificial Intelligence Question: What is an appraiser’s USPAP obligations when using artificial intelligence (AI) in an appraisal assignment? French Chateau in Beverly Hills Excerpts: 9 bedrooms, 10.5+ baths, 16,225 sq.ft., Acre lot, built in 1996. Here’s the formula. All too familiar. Like I said, ’80s vibes.

Contracts 84

Contracts Appraisal Mortgage Inspection 84

Appraisal Today

NOVEMBER 10, 2023

Don’t think like a salesperson – avoid words that may be common in Multiple Listing Service (MLS) and used to help sell a home. Don’t use shorthand – both ‘123 Church Street’ and ‘123 Church’ could refer to an address but might come across differently in an appraisal. To read more, click here My comments: Read this article!

Appraisal 62

Appraisal Contracts Design Mortgage 62

Appraisal Today

SEPTEMBER 8, 2023

They are told it’s fine to use the total yearly income and “simply divide by 12” to produce a monthly income that can be used to value these places using a Gross Rent Multiplier (GRM). Appraisers are being told by their AMC clients and loan officers to appraise these as residential properties. But is it really that simple?

Appraisal 79

Appraisal Contracts Business Construction 79

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. Lots of people wanted to be on the ASB.

Appraisal 77

Appraisal Contracts Real Estate Mortgage 77