Hank Miller Team

NOVEMBER 22, 2022

There are significant differences between an appraisal and a home inspection, it’s best for every home buyer to become familiar with the purpose of each. In most cases, if a home buyer is getting a mortgage, an appraisal will be completed. What is a Home Inspection? They do not represent either buyer or seller.

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Housing Wire

NOVEMBER 7, 2023

Offer them solutions to get a better-than-average mortgage rate. You don’t have to know as much as your competent mortgage lender does, but you should be able to competently discuss options, such as rate buy-downs, adjustable-rate mortgages and how to pay points to lock in a lower rate on a 30-year fixed mortgage.

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Appraisal Buzz

MAY 18, 2022

I enjoyed the experience and continued to work in the industry for the next 30+ years serving as an independent appraiser, at a national bank, several mortgage companies, and a federal agency in addition to holding executive level positions at major appraisal management companies. Buzz: How have desktop appraisals evolved in the last 3 years?

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Cleveland Appraisal Blog

MAY 12, 2022

And I remember the first time I started using a digital camera instead of a 35mm camera to take pictures during my inspections. They ended up converting the assignment to a traditional type of appraisal so that I could just make the inspection myself. Ironically, when making the inspection myself, no interior walls need to be provided.

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Inspection Appraisal Tools Advertising 341

Housing Wire

JULY 20, 2023

Build a home instead of chasing after the scarce resale inventory 30% of available homes are new construction, so there are several advantages to this option. No rehab for them and no inspection woes for you. Your client can get their home on the market a few months before construction is complete and not have to move twice.

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D Fritz Appraisals

OCTOBER 11, 2022

Home appraisers are trained to inspect and measure your property and perform comparisons that result in an accurate valuation for the current housing market. Financial institutes or mortgage lenders will require an appraisal to ensure the home is worth the amount of money being requested in the loan or mortgage.

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Appraisal Today

MARCH 15, 2024

NOTE: Please scroll down to read the other topics in this long blog post on USPAP and Personal Inspection, GSE Appraisal Modernization, Transaction costs and values including real estate commissions, unusual homes, mortgage origination stats, etc. = Mortgage rates were 18%+. By Dallas T. I worked for an assessor’s office then.

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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. You can read more about property inspection waivers in a past article I wrote.

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Genworth MI Blog

MAY 28, 2020

Truth: A manufactured home is built in a factory and constructed to comply, at a minimum, with the Manufactured Home Construction and Safety Standards (HUD Code) enacted June 15, 1976. All factory-built homes constructed after June 15, 1976 must comply with the HUD Code or local building code. can work at night).

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Eppraisal

DECEMBER 5, 2023

You also have a say in every architectural choice, from the floor plans to the materials builders will use in construction. Generally, the process includes a preliminary phase — which involves signing contracts for the architectural design and site plans — and pre-construction, where the project gets approval.

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Appraisal Today

SEPTEMBER 22, 2023

To me, the big issue is who is doing the inspections. Most of the inspection training we receive as appraisers happens in the field. The guy I followed around on appraisal inspections didn’t really take the time to explain what he was doing. Inspection training was very good. Mortgage interest rates ALWAYS go up and down.

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McKissock

OCTOBER 13, 2020

The appraisal establishes the value of the property for mortgage insurance purposes only. ” Here is some guidance on cosmetic repairs vs. “Subject to completion per plans and specifications on the basis of a hypothetical condition that the improvements have been completed,” if the property is under construction.

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Housing Wire

MAY 6, 2024

HUD also seeks to transition away from the discontinued Fannie Mae Form 1009, the residential loan application for reverse mortgages, to Form 1003, the Uniform Residential Loan Application (URLA). We applaud HUD’s efforts in trying to change the requirements for HECMs to be more in line with the requirements of the forward mortgage industry.

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AmeriMac

OCTOBER 5, 2022

Getting a purchase appraisal while you are in the process of buying can affect both the overall cost of the house and the amount of your mortgage. The appraisal gives you an estimate of the worth of the property, but it also determines how much a mortgage lender will allow you to borrow for the home. The Appraisal and the Mortgage.

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Appraisal Mortgage Market Value Sellers 36

Raleigh Realty

FEBRUARY 19, 2022

Like making counter-offers and going through the home inspection process, the home appraisal can be a sticking point between buyer and seller. Does a Newly Constructed Home Need an Appraisal? Yes, even a newly constructed home needs an appraisal. Often new constructions don't have developed yards.

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Appraisal Process Appraisal Construction Sellers 139

McKissock

JANUARY 6, 2023

You should also consider non-QM lenders (non-qualified mortgage lenders). Aside from that, there are also private mortgage insurance (PMI) providers, like Radian, MGIC, or Genworth that may have open appraisal-related jobs. It is not unusual for these entities to have a variety of positions available at any given time.

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CA Realty Training

SEPTEMBER 6, 2021

We will discuss the three contingencies that you’ll see, which are appraisal, inspection, and loan. So, the buyer will pay for an appraiser to inspect and write a report on the home’s value. What is an Inspection Contingency? A general inspection contingency is to understand the home’s structural integrity.

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Real Estate Agents Inspection Real Estate Agent 56

Realtor

MARCH 7, 2023

While there is a lot of flexibility in the type of home that may be accepted for a USDA home loan—including condos , townhouses , and new construction —not all homes will qualify. ” In some cases, experts advise it might be wise for a potential homebuyer to pay to have a home inspection done prior to the official appraisal.

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Inspection Appraisal Market Value Finance 111

Genworth MI Blog

MAY 28, 2020

Truth: A manufactured home is built in a factory and constructed to comply, at a minimum, with the Manufactured Home Construction and Safety Standards (HUD Code) enacted June 15, 1976. All factory-built homes constructed after June 15, 1976 must comply with the HUD Code or local building code. can work at night).

Construction 78

Construction Loan Officers Training Lending 78

D Fritz Appraisals

JUNE 28, 2022

This significant increase came about due to the unprecedented combination of: All time low mortgage rates. While low mortgage rates created higher demand, the lack of available homes led to price increases and over-bidding. Between 2021 and 2022, house prices in the Victoria, BC region rose by an average of 20%.

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Real Estate Marketing Inventory Housing Market 105

Appraisal Today

AUGUST 18, 2023

Designed and built by world-renowned contractor, Matt Construction, interior designers Meyer Davis and architects Shubin + Donaldson, no expense was spared in constructing this exceptional estate over a six-year period. This was the same process many of us underwent with the exterior-only (drive-by) inspections.

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Appraisal Contracts Inspection Real Estate 75

Appraisal Today

JANUARY 5, 2024

NOTE: Please scroll down to read the other topics in this long blog post on New CA bias classes, 2024 New Years resolutions, 2024 goals, unusual homes, mortgage origination stats, etc. Arouse the suspicion of an entire neighborhood when inspecting comparable sales. Mortgage applications decreased 9.4 Excerpts: 4 Bedrooms, 4.5

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Appraisal Contracts Legal Business 75

Appraisal Today

OCTOBER 20, 2023

The inspection was uneventful. I was given a lockbox combination and inspected the vacant home. NOTE: Please scroll down to read the other topics in this long blog post Modular Homes Data Plates, ADU income, Pickleball courts and other interesting home improvements, , unusual homes, mortgage origination and more!

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Raleigh Realty

FEBRUARY 4, 2022

New Construction Home Buying Tips You asked. here are the best new construction homebuying tips How to buy a new construction house Last week we wrote an article on how to buy a house for first-time home buyers. Also asking, when do you pay for a new construction house? How Do I Buy A New Construction Home?

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Appraisal Today

NOVEMBER 4, 2022

Our office updates AMCs on every scheduling attempt with details, every inspection appointment set and completion, and any materials needed ASAP in the assignment. Appraisers tend to get annoyed with constant emails from the AMC about inspection date, completion, report submission, etc. Property inspection date. Effective date.

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Reconsideration of Value Appraisal Inspection Advertising 52

AmeriMac

AUGUST 10, 2022

It’s much different from an in-depth home inspection that is done to find any small defects in the property. The appraiser looks at the structure of the home, its roof, its construction, and its foundation to determine the quality of each and to find any damage and flaws. This includes the exterior integrity of the home.

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Appraisal Inspection Real Estate Buyers 36

Genworth MI Blog

JUNE 27, 2019

This article first appeared in the June issue of National Mortgage Professional Magazine. . Mortgage lenders often struggle with confidence in knowing where their boundaries are when communicating with their appraiser. Market Value: In a mortgage appraisal, the appraiser is most likely estimating the market value of the property.

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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. . Mortgage lenders often struggle with confidence in knowing where their boundaries are when communicating with their appraiser. Market Value: In a mortgage appraisal, the appraiser is most likely estimating the market value of the property.

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Appraisal Tips Appraisal Law Market Value 78

Appraisal Today

SEPTEMBER 30, 2022

As it turns out, both the appraiser and the home inspector had each independently inspected the home 18 months prior and both mistakenly reported a few of the smoke alarms present at the home, as CO detectors. I request any reports, such as termite or home inspection, even old reports, but rarely get them. I never use the terms.

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Appraisal Inspection Easement Contracts 52

Housing Wire

MAY 12, 2021

While mortgage rates are at an all-time low, people looking to buy their first home — particularly millennials, who accounted for half of all new home loans in 2019 — have a limited and aging stock of houses to choose from. Construction has traditionally been slow to pick up new technology compared to other industries.

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Construction Logistics Technology Real Estate 458

Quicken Loans

MAY 12, 2021

At Rocket Mortgage ? , Rocket Mortgage doesn’t offer FHA 203(k) loans at this time. What Is A Repair Escrow On An FHA Mortgage? If you choose to go the FHA 203(k) route, your lender will require a repair escrow that monitors all needed repairs and makes payments when the repairs are completed and inspected.

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Sellers Buyers Appraisal Construction 52

Property Metrics

AUGUST 13, 2020

Borrowers holding a mortgage with a floating interest rate are negatively impacted by rising interest rates. As interest rates increase, so do the monthly mortgage payments. More indirect risks could be changes to local or federal tax rates, mortgage deductibility requirements, banking regulations, etc. Construction Risk.

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Real Estate Tenants Investing Construction 53

Housing Wire

AUGUST 3, 2023

Aerial drone inspection of Lennar’s Westview housing development Miami, Florida. In a recent earnings call, Sheryl Palmer, chairman and CEO of national homebuilder Taylor Morrison , said about two-thirds of homeowners now have mortgage interest rates below 4%. Taken by Felix Mizioznikov. We need to build above 1.1

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Appraisal Today

APRIL 12, 2024

Desktop Appraisals: Who, When, and Why Excerpts: The ability to identify property characteristics without a personal inspection is not a new concept. To read more, Click Here To see the listing with 40 photos Click Here = Can a New Construction Sale be Used as a Comp for an Older Home? baths, 14,450 sq.ft.,

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Appraisal Construction Contracts Architecture 77

PennyMac

JANUARY 2, 2024

Equity is the difference between your home's current market value and the amount you owe on your mortgage. However, you should have the house inspected to determine the best way to address the issue — mold can be a more extensive problem than first meets the eye. Some other remodeling mistakes to avoid: Underestimating project costs.

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Home Improvement Renovations Investing Inspection 36

D Fritz Appraisals

OCTOBER 22, 2019

This is unlike when you’re buying a home and paying for a property appraisal to satisfy the bank lending you your mortgage – in this case the bank has a list of companies they work with). Up Next: Home Inspections vs. Home Appraisals. So, when it’s up to you, how do you know what property appraisal company to hire? Level of Experience.

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Housing Wire

JANUARY 19, 2022

The option is not available for second homes, investment properties, cash-out refinances, construction loans, multi-unit properties, renovation loans, condos, co-ops or manufactured homes. Mortgage lenders have also tried to find ways to speed the appraisal process.

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