Housing Wire

OCTOBER 10, 2023

“I think folks tend to get creative and take a bit more risk than they might be willing to take in a market where rates are lower,” Holly Bunting, a partner at Mayer Brown in the areas of residential mortgage banking and consumer finance, said in an interview. However, the Freedom case represented a “wakeup call.”

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AmeriMac

MARCH 14, 2022

A lot of people don’t realize just how tech-driven the modern day real estate market truly is. Yes, it’s true that certain things like valuations and appraisals still require a lot of time and energy from a certified professional. Case in point: valuation software. Why Valuation Software Matters.

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Cleveland Appraisal Blog

APRIL 11, 2023

The research and analysis that a well-trained professional appraiser can provide you with will include important information above and beyond their opinion of the market value of the property they are appraising. MARKET TRENDS As everyone knows, home sales prices over the past few years were increasing rapidly!

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Appraisal Market Value Legal Property Appraisal 354

McKissock

MARCH 2, 2021

Here are five excellent resources offered by McKissock Learning—including a Pro-Series webinar on Wednesday, March 17, 2021, “ The Market Value Doesn’t Support the Contract Price, Now What? ”. Webinar: The Market Value Doesn’t Support the Contract Price, Now What? Blog post: Advice for Working with Difficult Clients.

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Simonson Real Estate

JULY 10, 2020

Under fee simple ownership, a property owner may occupy the property and have the right to sell, lease, mortgage, or give an interest away. Examples: Owner-occupied properties don’t have a lease in place and so the property is appraised based on market rents. Value Scenarios. What is Market Value As Is and When is it Used?

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Appraisal Process Appraisal Market Value Tenants 148

Simonson Real Estate

DECEMBER 6, 2022

We’re grateful to work across several states and with so many great clients! We believe it’s important for appraisers to communicate with their clients to avoid surprises and ensure the appraisal process is as smooth as possible. Clarify What Value or Values are Needed. Lenders, what’s in it for you?

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Cleveland Appraisal Blog

SEPTEMBER 30, 2022

This first section of the report discusses some of the positive and negative aspects of a neighborhood that may impact market value. Is there anything about the improvements that would positively or negatively impact its market value? Chuck Norris eats 7% mortgage rates for breakfast – Sacramento Appraisal Blog.

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Realvals

JUNE 18, 2023

One, as way to know the value before making an offer, and two, for the mortgage process after making an offer. In the first scenario, an appraisal gives you an objective perspective on the property’s value to ensure that you don’t overpay for your new home.

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Housing Wire

JUNE 11, 2021

An appraisal is a valuation of a property by a third party. A qualified appraiser will compare recent sales of similar local properties, market trends and conduct a visual inspection of the home’s interior and exterior to determine the property’s fair market value. The buyer typically covers the cost of the appraisal.

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AmeriMac

MARCH 15, 2024

Appraisal Management Companies (AMCs) play a crucial role in the real estate industry by providing independent appraisal services to lenders and other clients. One of the key regulatory changes was the implementation of the Home Valuation Code of Conduct (HVCC) in 2009.

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Appraisal Hub

JANUARY 11, 2021

As a business property owner, it is your responsibility to consider certain factors that can affect its value before you buy or sell. After all, every commercial property is different in terms of value, supply, demand, size, location, and other qualities that may affect valuation. A client must order the appraisal.

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The Robert Weiler Company

OCTOBER 21, 2022

So, take a deep breath, read on, and be prepared to gain a deeper insight into this important topic of commercial real estate valuation. If you’re reading this article, you will likely need a commercial real estate appraisal for property being sold, mortgaged, taxed, insured, or developed.

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McKissock

JULY 23, 2021

Every real estate appraiser is familiar with the terms “marketing time” and “exposure time,” but it’s not always clear why and how these are developed in everyday assignments when developing an opinion of market value. Several conditions are implicit to market value as defined by the Federal Agencies.

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AmeriMac

JANUARY 15, 2024

They consider various factors such as the property’s size, condition, location, and comparable sales data to determine its market value. The home appraisal process involves a thorough inspection of the property, analysis of market conditions, and the creation of a comprehensive appraisal report.

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Simonson Real Estate

JUNE 10, 2020

This means their work is done and they can rest easy while feeling confident that the appraisal report supports the market value conclusion. For the buyer/borrower, major market events can mean greater uncertainty, potential timing delays, or having to increase the down payment if the value is different than originally expected.

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McKissock

AUGUST 13, 2021

Looking at the sales contract early on allows the appraiser to identify any “subject to” items or other conditions that could influence the value conclusion. When contract prices and value often differ. ” McKissock has offered courses on mortgage fraud for decades. Questions we should ask ourselves.

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Appraisal Today

APRIL 12, 2024

Retrospective appraisals, drive-by (exterior inspection) appraisals, and valuations from plans and specifications, are all valuation assignments where an appraiser develops an appraisal opinion without personally inspecting the property. North Carolina’s Most Expensive Listing – $50M Excerpts: 7 bedroom 7.5+

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Appraisal Today

SEPTEMBER 15, 2023

May a representative of the lender provide an appraisal management company a list or a panel of appraisers to use for loans involving a specified mortgage broker, real estate agent, or loan officer? From Dave Towne: Over the years, many appraisers have reported being blacklisted by real estate agents and even mortgage brokers.

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Birmingham Appraisal

SEPTEMBER 15, 2022

What is a Mortgage Appraisal? A mortgage appraisal is an appraisal that is done for mortgage lending purposes. Lenders, including banks and mortgage companies, require an appraisal to justify the loan they are making. Other users might be sellers, mortgage underwriting, banks, and contractors.

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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 lender, whether it be a bank, mortgage company, credit union, or other financial institution will provide the buyer with the funds through a mortgage to pay for the house.

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AmeriMac

JULY 25, 2022

Home negotiations can be deadlocked because of the valuation differences of a property by both prospects and homeowners. The seller wants to max out the estimate based on the growing inflation and number of renovations made, while the buyer wants the best deal in the market even as home affordability worsens. What Is an Appraisal?

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Premier Home Appraisal Blog

MAY 30, 2023

Are you tired of paying for private mortgage insurance (PMI) every month? Private mortgage insurance, or PMI, is a type of insurance that lenders require borrowers to purchase when they put down less than 20% on their home. It allows them to recover some of the money they lent out if the borrower cannot make their mortgage payments.

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DataMaster

JUNE 15, 2023

Note: This blog post about short-term rentals was originally posted on Class Valuation’s site on May 11, 2022. Qualifying for a conventional mortgage on one of these properties is a challenge and without a tenant in place or proof of income, most lenders won’t even consider financing the investment property.

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McKissock

NOVEMBER 16, 2021

To help you out, we’ve put together some practical information to strengthen your responses to a mortgage lender’s appraisal appeal, called a reconsideration of value (ROV). USPAP prohibits an appraiser from discussing the results of an appraisal with anyone other than the client or parties designated by the client.

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Empire Appraisal Group

JULY 1, 2021

Don’t tell the appraiser your client needs a certain value, for example. The appraiser has a scope of work for every lender client, which differs depending on the mortgage product, said Bradley. If the buyer is getting a VA-guaranteed mortgage, that adds safety, soundness, and sanitary requirements to the appraisal.

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Birmingham Appraisal

FEBRUARY 8, 2023

For the record, I will state that the goal of every appraisal is to estimate the market value of a home, usually for lending purposes. In the quest to provide faster and cheaper alternatives to banks and mortgage companies, Fannie Mae has developed alternative appraisal products for their customers.

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Appraisal Today

APRIL 14, 2023

For many different reasons, properties can come on the market in less-than-par condition. At some point it’s no longer “normal market value minus cost to cure equals as-is value.” It is a place where we can show our clients just how valuable an appraisal can be. Worth reading.

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Eppraisal

SEPTEMBER 8, 2023

An AVM (Automated Valuation Model) is a computer-generated estimate of a property's value based on data such as recent sales in the area, public records, and local market trends. "Consumer grade" AVMs have been around for nearly 20 years, Eppraisal and Zillow's Zestimate being two of the first.

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Genworth MI Blog

JUNE 27, 2019

This article first appeared in the June issue of National Mortgage Professional Magazine. . Will the appraised value be sufficient for the loan?”. Mortgage lenders often struggle with confidence in knowing where their boundaries are when communicating with their appraiser. Will repairs be needed? A Few Basics.

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Appraisal Tips Appraisal Law Market Value 78

Genworth MI Blog

JUNE 27, 2019

This article first appeared in the June issue of National Mortgage Professional Magazine. . Will the appraised value be sufficient for the loan?”. Mortgage lenders often struggle with confidence in knowing where their boundaries are when communicating with their appraiser. Will repairs be needed? A Few Basics.

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Appraisal Tips Appraisal Law Market Value 78

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. Get the relevant date of value from the client or client’s attorney. acres of coastal land. ” 5.

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McCarthy Appraisal Blog

SEPTEMBER 4, 2018

The references should be current or previous clients, and at least one should be from the community. Loan officers are typically looking for an assessment of the condition of the house and a rough market value to put on the mortgage documents. Evaluate the appraiser’s experience. Call today!

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Real Estate Appraisal Valuation Loan Officers 36

DataMaster

JUNE 15, 2023

Note: This blog post about short-term rentals was originally posted on Class Valuation’s site on May 11, 2022. Qualifying for a conventional mortgage on one of these properties is a challenge and without a tenant in place or proof of income, most lenders won’t even consider financing the investment property.

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Appraisal Tenants Investors Business 78

Cleveland Appraisal Blog

MARCH 18, 2021

My market analysis was reflective of what was taking place in that neighborhood as of the date of the appraisal. My research and analysis showed that the buyer was about to spend a much higher price than the true market value of this home. What if the sale went through because I stretched the value to match the purchase price?

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Rowe Appraisal Group

MAY 6, 2020

Appraisers should never advocate for a client’s objective. For example, if they are applying for a mortgage refinance or Home Equity Loan, they are wanting a higher appraised value. Just because one spouse hires an appraiser doesn’t mean that the appraiser is an advocate for their client.

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Appraisal Appraisal Process Real Estate Training 36

Rowe Appraisal Group

MAY 6, 2020

Appraisers should never advocate for a client’s objective. For example, if they are applying for a mortgage refinance or Home Equity Loan, they are wanting a higher appraised value. Just because one spouse hires an appraiser doesn’t mean that the appraiser is an advocate for their client.

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Appraisal Appraisal Process Real Estate Training 36

Appraisal Today

OCTOBER 7, 2022

Eleven percent cite evaluations (non-appraisal opinions of value). The eight percent who cite other valuation methods most often explained that they use a hybrid approach or mostly an exterior appraisal. If it had a market value of $345k, it would have listed at $345k!”. Housing Market Cools. Lot Size: 0.06

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