Appraisal Today
MAY 10, 2024
ROV (Reconsideration of Value) Changes – FHA and GSEs GSE Effective date is August 29, 2024 HUD Effective date is September 2, 2024 Editor’s note: This long section includes, In order: McKissock/Dave Bradley post with a good summary including links to HUD and GSE documents. For appraisers, Section II.D.2.
Appraisal Buzz
SEPTEMBER 6, 2022
Appraisers have been dealing with Reconsideration of Value (ROV) requests from clients for decades. This appears to be due, in large part, to the unprecedented upward price trending in virtually all real estate markets around the country and the challenges appraisers face when developing opinions of.
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Appraisal Buzz
FEBRUARY 7, 2022
In turn, appraisers developed, supplemented, and maintained practices to ensure the data provided to the appraiser did not result in a misleading appraisal. Inspection relief was successful as lenders and appraisers developed appropriate processes. Lenders rely on regulation and policy.
Birmingham Appraisal
FEBRUARY 20, 2024
On one hand, the real estate agent’s main goal is to advocate for their client while the appraiser must be an impartial and non-biased third party. The Purpose and Components of a Comparative Market Analysis (CMA) The CMA is a tool that real estate agents use to develop a list price for the house they are selling.
Birmingham Appraisal
SEPTEMBER 15, 2022
Basically, an appraisal determines the value of a property, and the home inspection reports the home’s overall condition as well as that of the different systems. Appraisers develop an opinion of value for the subject property for various reasons including mortgage underwriting.
Housing Wire
MARCH 9, 2021
The Department of Housing and Urban Development (HUD) has announced that JPMorgan Chase has come to an agreement with a Black homeowner who claimed the bank’s mortgage division – relying on a valuation done by an appraiser – valued her home at an amount lower than its actual worth because of her race.
Cleveland Appraisal Blog
MARCH 30, 2021
When an appraiser’s opinion of value is below the contract price, that’s when the carping begins. The number of professional reconsiderations of value coming in are increasing. My advice to agents and sellers is to really analyze the properties that they are using to develop their asking price.
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