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Settling on a New Normal for Appraisals in 2022

Appraisal Buzz

The housing market was hotter than ever last year, with pandemic-driven demand boosting home sales to their highest level in 14 years. There’s too little supply and too high a demand, a predicament that’s disrupted the housing and appraisal industries. Shifting Toward Modernization. Total year-end sales volume ended at 5.64

Appraisal 397
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Existing home sales data shows extent of housing inflation

Housing Wire

Even though this was a beat of estimates, the sales decline trend due to higher mortgage rates and home prices continues. The savagely unhealthy housing market theme of mine is running in full force now as we have gotten no relief on home prices and now have a mega jump in mortgage rates. . million in August.”

Inventory 457
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From Forms to Reports: A Look at the UAD Overhaul

Appraisal Buzz

UAD originated in 2010 and since then we appraisers are accustomed to using codes like “C4,” “N;Res,” and “1200sf0sfin” in our mortgage appraisal reports to communicate the results of our analysis. It all starts with the standard appraisal forms used in the mortgage process. Most appraisers have diversity in their business channels.

Appraisal 397
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Rise above the panic, for the housing market’s sake

Housing Wire

When this back and forth was unfolding, mortgage demand rose 2.9% compared to the week prior and the average contract interest rate for 30-year fixed-rate mortgages with loan balances of $726,200 or less, decreased from 6.48% to 6.45%.

Retail 375
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The appraisal gap is complicating deals across the country

Housing Wire

It had a large, fenced-in yard, modern appliances in an updated kitchen, a “man cave” for her husband, beamed ceilings, a massive master suite and was located in a good school district. The house, in the Nashville area, was listed at $405,000. I’ve seen a house listed at $1.7 The home checked off every box on Linda’s list.

Appraisal 540
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Help for troubled borrowers is on the way. But will it come soon enough?

Housing Wire

While the family’s income has been cut by almost half and inflation has increased their expenses, Wilen’s primary concern is his mortgage. In 2015, the family paid $250,000 for a 2,900-square-foot house in Ormond Beach, Florida. “They’ve had a manageable budget due to mortgage forbearance. .

Mortgage 362
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How To Appraise Rural Properties

Appraisal Today

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. = Is the GSE’s “Appraisal Modernization” Really Just Mass Appraisal? By Dallas T.