Housing Wire

APRIL 13, 2021

Jay Garrett, a loan officer at Supreme Lending ’s McClellan Branch in Austin, said he is seeing 10 to 40 offers on houses no matter where they are in Austin, and cash offers are winning the day because sellers don’t want to have to worry about the house appraising too low for someone who needs financing. “If

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Housing Wire

DECEMBER 14, 2021

Freddie Mac, the lone agency that has published research on the phenomenon, found that in minority neighborhoods, the appraised value was more likely to fall short of the contracted sales price. HUD has declined to say how complaints of appraisal bias it has received, citing pending investigations.

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Housing Wire

APRIL 8, 2021

Consider an appraisal gap: Adding an appraisal gap to your offer tells the seller that even if the property appraises for less than the purchase price in the contract, you are committing a preset dollar amount to making up the shortfall. In high-demand areas, escalation clauses should be considered.

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McKissock

DECEMBER 14, 2021

Property appraisers don’t dictate what the value is. Many years ago, an appraiser friend (Ben was his name) asked me to go along on a challenging appraisal assignment to aid in data collection. On the way he needed to drop off an appraisal report to a lender client.

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Clear Capital

FEBRUARY 23, 2024

When the subject property is a shared equity property A lender should specify in the appraisal order whether the subject property is a shared equity property. The contract will also likely reference a second document, either a deed restriction or a ground lease.

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McKissock

DECEMBER 4, 2020

I feel I can help appraisers write better, more supported reports by sharing my experiences and expertise.” ” “Appraisers who don’t do their ‘homework’ do a disservice to their clients. Experience as a contract review appraiser quickly revealed when appraisal research was lacking. Other (19%).

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Mashvisor

SEPTEMBER 30, 2021

These conditions in the contract specify when a buyer can back out without penalty. Thus property sellers… Contingencies are commonplace in real estate transactions, but they could derail a sale.

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D Fritz Appraisals

AUGUST 12, 2019

Understanding the differences between an appraisal and an inspection will help you understand when you might need one or the other – or both – before you buy your first home. Let’s explore the similarities and differences between a home inspection and a home appraisal. What Is a Home Appraisal?

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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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Birmingham Appraisal

FEBRUARY 28, 2023

Homeowners, Don’t Make These Appraisal Mistakes When Selling Your Home As a real estate appraiser, I have seen many mistakes that sellers make during the appraisal process. These mistakes can significantly impact the value of a property and even lead to an appraisal being lower than the contract price.

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Chicagoland Appraisal Blog

JULY 13, 2017

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. We are required to analyze the contract and where do you think contract analysis begins? Why was this offer selected?

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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.” USPAP and the Contract. My Comments on Market Changes.

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McKissock

JULY 29, 2020

Appraisers should continue to use the current URAR form for these assignments. Bradley, SRA, CDEI is the Director of Online Appraisal Curriculum for McKissock Learning. He has been a practicing real property appraiser since 1987, and has been instructing and authoring appraisal courses since 1992.

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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? Question 5: Why are commercial property appraisals important?

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Appraisal Today

DECEMBER 8, 2023

When to Get Property Appraised When Someone Dies? Excerpts: An appraisal can be useful in several ways. Sometimes the value of the asset is unknown, and an appraisal can help a family make decisions about the future. The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA decreased to 6.98

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Appraisal Today

JANUARY 20, 2023

An excellent way to get more appraisal business! Excerpt: An example of how Google Business Profiles work Recently, a woman called about getting a 4-unit Alameda property appraised, as one of the owners wants to sell his interest in the family-owned property. How to get a FREE Google Business Profile. percent from 6.42

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McKissock

SEPTEMBER 15, 2020

Failure to disclose appraisal assistance. Failure to disclose significant real property appraisal assistance is another common violation. States often see this when a trainee or assistant applies to become a licensed or certified appraiser, and they submit their appraisal log to be reviewed by the state agency.

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Birmingham Appraisal

JUNE 21, 2023

Real estate agents, as trusted guides for their clients, must possess a good understanding of the factors that influence property appraisals. In this blog post, I’ll discuss key appraisal factors, and common challenges, and offer valuable insights for real estate agents to navigate the appraisal process effectively.

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Birmingham Appraisal

DECEMBER 19, 2023

When it does go under contract and the lender orders the appraisal it will probably appraise for below contract price. In looking at this from another perspective, appraisers also need to communicate with agents about a listing of theirs that we may be using in another appraisal.

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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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PennyMac

JANUARY 2, 2024

It differs from a typical rate lock since you lock in the rate while shopping for a house—with the intention that you’ll find one in the next 60 days or so—and lock the rate once you go under contract. A BuyerReady Certification is Pennymac’s unique loan certification process that can tell you the mortgage amount you could qualify for.

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Magnusson Group

MAY 11, 2021

appeared first on Magnusson Group | Estate Sale | Personal Property Appraisal | NJ. To view it please enter your password below: Password: The post Protected: Cryptomania and NFTs and Beeple, Oh My!

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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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McKissock

JANUARY 31, 2023

” “The amount of knowledge, continued education and diligence it truly takes to provide an excellent work product for the property appraisal.” ” Appraisers do not assign value “Appraisers do not dictate a home’s value, the market does.” ” “The definition of market value.”

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Appraisal Today

AUGUST 18, 2023

Be sure to put in a comment requesting it. == The Future of Property Appraisal: Unveiling the UAD Redesign and New URAR By: McKissock August 15, 2023 At the recent Valuation Expo conference in Las Vegas, Heather Sullivan (Aloft), Ken Defeo (Fannie Mae), and Sean Murphy (Freddie Mac) provided a peek at some of the upcoming changes.

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Appraisal Today

JUNE 23, 2023

The proposed rule’s safeguards are not a panacea, but represent a recognition of the risks posed by algorithmic appraisals. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) decreased to 6.73 The average contract interest rate for 5/1 ARMs increased to 6.09

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Appraisal Today

SEPTEMBER 22, 2023

Most of the inspection training we receive as appraisers happens in the field. When I started in this business long ago, there was no such thing as a licensed appraiser or a certified real property appraiser. The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA increased to 7.08

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Listing Spark

FEBRUARY 9, 2023

It also includes information about the MLS listing including the details of the contract. Comparable sales: For residential properties, appraisers rely on the sales comparison approach to determine their value. What should a home seller provide to an appraiser?

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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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McKissock

AUGUST 11, 2020

Changing the appraised value simply for the purpose of meeting the contract sales price is not a good reason. Bradley, SRA, CDEI is the Director of Online Appraisal Curriculum for McKissock Learning. He has been a practicing real property appraiser since 1987, and has been instructing and authoring appraisal courses since 1992.

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McKissock

DECEMBER 15, 2020

Check out our VA appraisal course: Appraising for the VA. Bradley, SRA, CDEI is the Director of Online Appraisal Curriculum for McKissock Learning. He has been a practicing real property appraiser since 1987, and has been instructing and authoring appraisal courses since 1992. Written by Dan Bradley.

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Appraisal Today

APRIL 14, 2023

5 Resources to Help You Avoid Appraisal Errors and Violations As busy real estate appraiser, both your time and your professional reputation are extremely valuable. While most common appraisal errors are minor and won’t result in disciplinary action, even small mistakes take time to correct and therefore slow down your process.

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Appraisal Today

DECEMBER 2, 2022

Excerpts: The AQB previously considered the option of allowing parallel professional non-appraisal experience. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) decreased to 6.49 The average contract interest rate for 15-year fixed-rate mortgages decreased to 6.02

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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 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.

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Zillow

JULY 25, 2016

You've made an offer on a property, the seller has accepted, and maybe you’re about to sign a contract. Get to know the property Every house, no matter if it's a 100-year-old Victorian or a modern marvel , should have some type of inspection before it's sold. So take your time as you move from offer to contract to closing.

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Realtor

MAY 18, 2018

They may no longer be required to get formal property appraisals—a change that could save them hundreds of dollars and speed up the closing process. A little-known change in requirements last year from mortgage giants Fannie Mae and Freddie Mac has made these waivers for traditional, in-person appraisals available. .

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