Remove Contracts Remove Inventory Remove Modernization Remove Valuation
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Settling on a New Normal for Appraisals in 2022

Appraisal Buzz

million units , and some experts say it could reach 8 million if there were more inventory. Beginning in January 2020, 7% of purchase transactions had a contract price above the appraisal value. Shifting Toward Modernization. of homes are valued lower than the contract price. Total year-end sales volume ended at 5.64

Appraisal 397
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Why Appraisal Workfiles Are Important

Appraisal Today

Upon arrival, you’re greeted by a lavish motor court leading to timeless modern architecture. Lanham, 20/20 Valuations, and loanDepot.com, U.S. They alleged that the appraiser had taken into account their race in his valuation of their home in violation of the federal Fair Housing Act and other laws prohibiting discrimination.

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The cure for appraisal gap anxiety

Clear Capital

An appraisal gap is the difference between what a buyer agreed to pay for a home in a purchase contract and what an appraiser concludes as the fair market value of the property. Buying a home is not for the faint of heart, especially when inventory is so low and affordability is a challenge.

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VA Approves Desktops and Exterior-Only Appraisals

Appraisal Today

Excerpts from the Summary: On August 1, 2022, the Veterans Affairs released Circular 26-22-13 announcing new procedures for alternative valuation methods, effective immediately. Fannie: Learn how valuation modernization is changing collateral underwriting – Video, 1 hour, 23 minutes. All of these charts are from the June data.

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Fannie: Words and Phrases in Appraisals

Appraisal Today

It also describes the risks of deficient residential real estate valuations, whether through omissions, errors, discrimination or lack of information. The finished mansion took nearly twenty years and its distinctive style is simultaneously primitive and modern, blending well into the high desert landscape. percent from 6.81

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Apps for Appraisers

Appraisal Today

That’s because scarce inventory is driving up prices, pushing many homes on the cusp over the seven-figure mark. With the GSE appraisal modernization program, appraisers will more likely be asked to complete desktop or hybrid appraisal assignments in the future. The average contract interest rate for 5/1 ARMs decreased to 6.20

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Chat GPT For Fannie Form Appraisal Reports

Appraisal Today

NOTE: Please scroll down to read the other topics in this long blog post on hybrid appraisals, business tips, UAD info from Freddie, Fannie modernization, non-lender appraisals, unusual homes, mortgage origination stats, etc. = The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA decreased to 6.39