Chicagoland Appraisal Blog

JULY 13, 2017

If the realtor is not there we can’t ask questions like how was the listing price developed? Now I know what you might be thinking, appraisers don’t accept this kind of information in fear of being influenced. Let me clear up a misconception, you can provide information to the appraiser. Did the seller set the listing price?

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McKissock

SEPTEMBER 15, 2020

When it comes to appraisal violations , certain minor violations are very common. In this article, I outline several examples of less serious breaches of development STANDARD 1 and reporting STANDARD 2—and a few other types of violations, too. Failure to disclose appraisal assistance. It has been updated slightly.

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Appraisal Today

MARCH 15, 2024

Defining rural properties – USDA and GSEs Challenges of appraising rural properties Appraising rural properties presents unique challenges due to their diverse characteristics and market dynamics. The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA decreased to 6.77

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The Robert Weiler Company

OCTOBER 21, 2022

We believe that you’ll feel better informed, more confident, and maybe even a little enthusiastic when it is time to schedule a free consultation with a commercial property appraiser. Question 1: What is a commercial real estate appraisal? The data is then analyzed and used to develop opinions of value.

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Birmingham Appraisal

FEBRUARY 8, 2023

Not really, and today I’m going to explain the differences between several different types of appraisals that could mean the difference between a home appraising for contract price or not. 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.

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Appraisal Buzz

AUGUST 1, 2022

As a minimum basis, a real property appraisal report written for the government sponsored entities (GSEs) and agencies are what USPAP (Uniform Standards of Professional Appraisal Practice) refers to as Appraisal Reports. Standard 2 is the specific standard that addresses the reporting of appraisals. adjective.

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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.” It did not even though many lots nearby were developed.

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The Robert Weiler Company

NOVEMBER 9, 2022

Hundreds of international companies call Columbus their home, including Battelle Memorial Institute, the world’s largest private research and development foundation. This is according to Eden Strategy Institute, who ranks cities worldwide based on smart development and technology usage. What does that mean? Express, Inc.,

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Appraisal Today

JUNE 23, 2023

In it, Fannie boldly proclaims that they are “moving away from implying that an appraisal is a default requirement.” Fannie has been upfront about its interest in developing appraisal “alternatives.” The proposed rule’s safeguards are not a panacea, but represent a recognition of the risks posed by algorithmic appraisals.

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Appraisal Buzz

JUNE 20, 2022

Real property appraisers have had quite a bit dumped on them in the past couple of years. The uncertainty, turmoil, and government interest in oversight and intervention caused by allegations of racial and ethnic bias in real property appraisal is cause for concern. The world is a dangerous place for appraisers.

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McKissock

AUGUST 11, 2020

Imagine if you don’t have a good workfile, and a complaint is filed, and you retrieve the workfile and take a look at it and think, “What was I doing when I did this appraisal? There should be enough information in your workfile so that you know exactly what you were thinking when you developed and reported that opinion of value.

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The Robert Weiler Company

OCTOBER 15, 2021

Another mistake – perhaps one of the more obvious (and, consequently, most detrimental) mistakes – is contracting the commercial property for sale in your personal name. Tip #5: Hire a professional Ohio real estate appraiser to assess the Columbus, Ohio commercial property for sale before signing.

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Magnusson Group

MARCH 22, 2021

While contracted clients panicked and life negatively changed for everyone, my immediate family had no stoppage time. Therefore I agreed to be responsible for developing a topical agenda for personal property appraisers. Surely, client’s Estates and Downsizing Projects could wait a couple weeks.

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Appraisal Today

DECEMBER 2, 2022

Excerpts: The AQB previously considered the option of allowing parallel professional non-appraisal experience. After graduation he worked for USAA in Real Estate Development. George founded Columbia Institute and was its president, from 1992 to 2018 , a school for continuing education of Real Estate Appraisers. percent from 0.6

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Appraisal Hub

FEBRUARY 15, 2024

Commercial Appraisals, on the other hand, delve into properties used for business purposes, including office buildings, retail shops, industrial sites, farm, and apartment complexes with five or more units. Comparative Market Analysis (CMA): For residential properties, appraisers look at recent sales of similar homes in the area.

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Housing Wire

OCTOBER 23, 2020

Previously, the FHA integrated its Electronic Appraisal Delivery module to the Catalyst platform for lenders to submit, track and manage single-family property appraisals. According to the release, the two-year contract is worth $42 million.

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PennyMac

JUNE 28, 2022

This fee will cover the attorney preparing and reviewing agreements and contracts. If you’re buying a condominium or a property in a planned development, you will be required to join the homeowner association (HOA). Property Appraisal Fee. In some states, you need an attorney to close on your home. Closing Fee.

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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. percent from 7.58

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The Robert Weiler Company

NOVEMBER 9, 2021

Whether a contract is needed for commercial land for sale, a commercial building for sale, retail space for sale, rental properties for sale, or any other type of commercial property for sale, Adobe Sign can help execute professional CRE contracts. There are also some objects that are “nice to have.”

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AmeriMac

JANUARY 3, 2022

They use information about these comparable homes to develop a fair value given the current conditions of the market. What Is an Appraisal Contingency? An appraisal contingency, by association, is a condition built into the real estate contract that both buyers and sellers will need to adhere to.

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AmeriMac

JANUARY 3, 2022

They use information about these comparable homes to develop a fair value given the current conditions of the market. What Is an Appraisal Contingency? An appraisal contingency, by association, is a condition built into the real estate contract that both buyers and sellers will need to adhere to.

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Appraisal Today

NOVEMBER 20, 2022

Due to the shortage of review appraisers (exacerbated by low fees and time pressures), tens of thousands of poorly created appraisals were accepted without receiving adequate review. Many appraisers were bragging about their ability to fill out two or three appraisal forms a day and receive no call-backs from lenders. .

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Clear Capital

JUNE 21, 2022

When Freddie Mac published the study, “ Discovery of Racial and Ethnic Valuation Gaps In Home Purchase Appraisals ” in late 2021, its conclusion, “that Black and Latino applicants receive lower appraisal values than the contract price more often than White applicants,” sent shockwaves through the mortgage industry.

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Housing Wire

NOVEMBER 30, 2021

The movement to embrace appraisal modernization techniques also holds the promise of removing the potential for racial bias, better supporting efforts to remove valuation gaps that persist in minority neighborhoods. of the properties in Black neighborhoods receive appraisal values lower than the contract price versus 7.4%

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Housing Wire

JUNE 14, 2022

The Federal Housing Finance Agency released voluminous plans last week developed by Fannie Mae and Freddie Mac to make the housing market more equitable, in part through changes to the appraisal process. A property data collector may well have unconscious biases unleashed by a photo of a Black family on the wall.

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Housing Wire

MAY 27, 2022

Fannie Mae’s “Appraising the Appraisal” study comparing appraisals to automated valuation model (AVM) data for refinance transactions found that Black borrowers received slightly lower appraisal values relative to AVMs, while white borrowers received slightly higher appraisals.

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