Housing Wire

MARCH 24, 2023

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. Because the appraisal isn’t ordered until after the purchase contract is complete, it could be a week or more until the borrower knows if there is a gap or not.

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Appraisal Contracts Tools Valuation 436

Valuation Review

JULY 28, 2021

a provider of trusted solutions supporting the entire lifecycle of real estate finance, renewed its contract with Florida’s State Board of Administration. The move helps provide real estate valuation and loan administration services. SitusAMC Holdings Corp.,

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Contracts Valuation Real Estate Finance 60

Clear Capital

FEBRUARY 23, 2024

Shared equity programs are growing across the country, and lenders and appraisers should understand the nuances of these programs to ensure accurate valuations. The contract will also likely reference a second document, either a deed restriction or a ground lease. Selecting the right valuation provider is key.

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Valuation Market Value Contracts Appraisal 36

Housing Wire

MARCH 22, 2024

Drive leads to home valuation landing pages It’s the 21st century. To drive sellers to your website, create custom landing pages that offer free home valuations and describe the services and expertise you provide to home sellers. Then, drive traffic to your home valuation page using social media or targeted advertising.

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Real Estate Sellers Real Estate Agent Tools 410

Appraiserblogs

JANUARY 8, 2024

Appraisal waivers, hybrid appraisals, automated valuation models, all based on the last 13 years of data collection by an entity I will call Goliath has created a paradoxical inversion of. Related Posts: Seller Filed a Racial Bias Complaint Against Me So what’s caused the sudden loss of income?

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Appraisal Valuation Lending Contracts 131

Housing Wire

DECEMBER 14, 2021

The Federal Housing Finance Agency (FHFA) is the latest stakeholder to examine how racial bias may creep into property valuations. It’s unclear whether the inclusion of references to race in appraisal reports reveals bias in the valuation process or introduces it.

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Appraisal Valuation Finance Training 432

Housing Wire

SEPTEMBER 23, 2021

How do remote valuation solutions benefit appraisers? The appraisal-valuation space has seen quite a bit of mergers and acquisitions and disruptions in the last year. Class Valuation also has digital floor plan capabilities. Presented by: Incenter.

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Valuation Technology Appraisal Modernization 379

McKissock

AUGUST 13, 2021

Why must an appraiser be given a copy of the sales contract? Secondly, the appraiser is likely familiar with the local real estate contract forms, customary terms, and conditions of real estate transactions in the area, and might be able to identify irregularities and comment on them. When should we analyze the contract?

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Contracts Appraisal Market Value Real Estate 64

Housing Wire

MARCH 13, 2024

Visit Canva Licensed Agent in MA & FL If you’re too busy to fiddle with Canva and want done-for-you social media graphics and a complete calendar of social media content each month, Coffee & Contracts offers polished Canva graphics and copy for a monthly subscription fee. Visit HouseCanary 12.

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Real Estate Agent Tools Real Estate Agents 404

Housing Wire

FEBRUARY 27, 2024

Exclusivity: No Trial period: No Contract requirements: Annual contract required SmartZip is a lead generation, marketing and CRM solution founded in 2008. You can choose from four different landing pages, including Smart Home Price , which is a home valuation page. Automated marketing: Yes.

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Advertising Tools Real Estate Sellers 408

Housing Wire

SEPTEMBER 9, 2021

The Pontiac, Michigan-based wholesale lender will instead coordinate appraisals in-house, contracting with appraisers directly, offering appraisers and brokers a way to bypass AMCs altogether, which UWM CEO Mat Ishbia characterizes as “middlemen.”. If Class Valuation or other AMCs step up, they’ll be viable companies and continue to grow.

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Appraisal Valuation Appraisal Process Contracts 450

Appraiserblogs

APRIL 10, 2023

According to aggregate statistics from the Uniform Appraisal Dataset released by the FHFA, roughly 57% of appraisals were above the contract price in 2021. Related Posts: A Low Appraisal is Now a Bad Appraisal A low appraisal is now a bad appraisal. Well, that's according to the headline. The article does not stress ‘bad.’…

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Appraisal Contracts Valuation Finance 116

Appraiserblogs

NOVEMBER 7, 2023

When the appraised value didn’t meet the sale price, the first assumption was that the appraiser conspired to lower the… Under-Valuations Unrelated to Racial Bias Under-valuations that more accurately reflect the homes' “true” value as opposed to the contract price will also alert the buyer,… Baltimore Racial Bias Lawsuit When reading over the Baltimore (..)

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Sellers Valuation Law Contracts 126

Appraisal Buzz

DECEMBER 27, 2021

Beginning in January 2020, 7% of purchase transactions had a contract price above the appraisal value. In response, the FHFA is looking to modernize the appraisal process to ensure more streamlined and accurate valuations. of homes are valued lower than the contract price. However, this shift could have unintended consequences.

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Appraisal Valuation Modernization Contracts 397

Realtor

SEPTEMBER 13, 2023

There might be some negotiating back and forth until all parties come to a compromise with a new valuation. Order a second appraisal “Most often, if the appraised value is not as high as the agreed (contract) price, the seller’s agent will ask to see the comps and get a second or third appraisal,” Saatchi says.

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Appraisal Sellers Real Estate Agent Valuation 193

Appraisal Buzz

JUNE 7, 2021

Certain states require AMC staff to receive training to ensure they understand valuation independence regulations as well as other statutory requirements. Josh : I am a compliance and valuation consultant based in Colorado. Can’t make the time? Register to receive the full recording in your inbox as soon as it’s over!

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Training Reconsideration of Value Valuation Clients 366

Will Springer Realtor

OCTOBER 19, 2021

Enter the appraiser, someone who has probably never visited the property – or possibly even the neighborhood – and who will use his/her expertise to develop a valuation on the home. About 13% of appraisals came in below the contract price this August, the most-recent available data, according to housing-research firm CoreLogic.

Contracts 41

Contracts Appraisal Sellers Real Estate Agent 41

Housing Wire

MAY 13, 2021

As anyone involved in the residential real-estate market knows, bidding wars – and contract prices exceeding the list price – are the norm today in many markets around the nation. Sheridan’s listing appraised at the contract price, and the deal went through without a hitch. over the list price.

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Housing Market Appraisal Marketing Contracts 520

Housing Wire

JANUARY 13, 2022

Quicken Loans passed the value along to the appraisal company, which changed the home’s valuation from $122,500 to $125,500, the couple claimed. According to the lawsuit, the Aligs, for example, estimated their home was worth $129,000, and provided the information to Quicken Loans.

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Appraisal Law Valuation Home Value 420

Housing Wire

NOVEMBER 2, 2023

While these leads are not expensive, nurturing them will be essential for gauging their interest in cash offers or introductory home valuations. However, Market Leader may not be ideal for larger teams or those looking for more customization. While not exclusive, zBuyer shares leads with a maximum of six agents per area.

Real Estate 402

Real Estate Real Estate Agent Tools Agents 402

Housing Wire

JULY 12, 2022

Dubbed “Lock & Shop,” the product, rolled out in mid-June, has two terms: the 75-day lock, which gives borrowers 45 days to shop and 30 days to close the contract; or the 90-day lock, giving customers 60 days to find a home and 30 days to complete the contract. . The product also allows a one-time float down if rates decline.

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Mortgage Contracts Valuation Marketing 382

Housing Wire

JUNE 30, 2021

PCV Murcor is one of the nation’s leading valuation management companies. The company provides appraisal management services to lenders, investment firms, community banks, servicers and anyone who needs a real estate valuation. Not to mention, some appraisers have contracted with PCV Murcor for over 20 years.

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Clients Valuation Real Estate Appraisal 384

Housing Wire

AUGUST 31, 2022

So much has evolved in the real estate process – agents and brokers no longer flip through the pages of MLS books, thumb through a Rolodex or fill out carbon copy contracts with their clients.

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Agents Real Estate Technology Clients 352

Valuation Review

SEPTEMBER 22, 2021

Freddie Mac released an analysis showing appraisal values are more likely to fall below the contracted sale price of a home in census tracts with a higher share of Black and Latino households. The extent of that appraisal gap increases as the percentage of Black and Latino individuals in the census tract increases.

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Valuation Appraisal Contracts 60

Appraiserblogs

JANUARY 24, 2023

They put an appraisal waiver in the contract which meant they could not walk away if the. I recently took on a measure job for a client who was questioning the square footage of their home. The couple bought the house at the height of the market last year. They paid 12% over list price to get the house.

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Inspection Training Contracts Valuation 147

Housing Wire

APRIL 13, 2021

Richardson also noted that there have been fewer property inspection waivers issued by Fannie Mae in the last several months, keeping appraisers, inspectors and others in valuation very busy. Either way, it puts the squeeze on property valuation. Real estate agents and lenders are working together to try to get buyers into houses.

Housing Market 534

Housing Market Buyers Marketing Real Estate Agent 534

Appraisal Buzz

AUGUST 1, 2022

When reading contracts, words will always have their ordinary meaning unless defined otherwise. a rule in statute or contract interpretation: when the language is unambiguous and clear on its face the meaning of the statute or contract must be determined from the language of the statute or contract and not from extrinsic evidence [i].

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Valuation Contracts Appraisal Legal 360

Appraisal Buzz

APRIL 15, 2024

Using the form structure, GSEs have been ingesting these eclectic abbreviations to develop a large database of residential valuation. Reports in the new standard, will be dynamic, expanding and contracting, based on the scope of work for that appraisal assignment. If typewriters are no more, it is time for forms to be retired as well.

Appraisal 397

Appraisal Design Lending Technology 397

Cleveland Appraisal Blog

MAY 26, 2023

In recent years, on several occasions, I have been hired to appraise a property after a valuation service was provided for my client by another real estate professional. The opposing side in one of the cases required that a new valuation be completed by a state-certified appraiser. But then they had to hire me to perform an appraisal.

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Appraisal Real Estate Agent Real Estate Agents 302

Valuation Review

DECEMBER 13, 2021

Valuation Review sat down with CBC Mortgage Agency Diversity, Equity & Inclusion Officer Tai Christensen to discuss a variety of aspects surrounding appraisal bias/disparity. Christensen also gave insight as to why minority applicants are likely to receive an appraisal value lower than the contract price.

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Valuation Review Appraisal Contracts Valuation 78

Birmingham Appraisal

AUGUST 23, 2023

Understanding the Roles: Agents and Appraisers: Real estate agents bring their expertise in marketing and negotiations, while appraisers provide impartial and accurate property valuations. Navigating Complex Properties: In cases of unique or complex properties, agents and appraisers collaborate to ensure accurate valuations.

Agents 82

Agents Appraisal Valuation Appraisal Process 82

Housing Wire

NOVEMBER 30, 2020

However, borrowers are still maintaining a strong pace, as contract signings are up 20.2% Pending home sales looks specifically at contracts that have been signed but where the transaction has not closed on sales of already existing inventory. pending home sales fell 1.1% compared to a year ago.

Realtors 534

Realtors Inventory Contracts Development 534

Housing Wire

AUGUST 7, 2023

Lenders began to define the “trust model” of standards, contracts and shared services necessary to achieve cross industry interoperability. Homebuyers and other investors will gain better views of risk and return as hyper local “Forward” projections inform valuations and pricing for a range of assets.

Real Estate 360

Real Estate Supply Chain Architecture Brokerage 360

Housing Wire

JULY 6, 2022

Ginnie Mae’s agreement with PFSI, per KBRA, limits the agency’s ability to “extinguish MSRs” without giving PFSI or its affiliates a chance to first “cure any breach … under the Ginnie Mae contract.”. Monthly valuations of the MSRs for both offerings will be performed by Incenter Mortgage Advisors , KBRA reports.

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Investing Finance Mortgage Market Value 371

Housing Wire

DECEMBER 2, 2020

billion valuation. Its commercial business lost money in the second quarter and its reverse mortgage business contracted, filings show. The nonbank lender and servicer is expected to make its public debut in the first half of 2021 via a merger with special purpose acquisition company Replay Acquisition Company , at an expected $1.9

Finance 228

Finance Lending Retail Business 228

McKissock

MARCH 2, 2021

Here are five excellent resources offered by McKissock Learning—including a Pro-Series webinar on Wednesday, March 17, 2021, “ The Market Value Doesn’t Support the Contract Price, Now What? ”. Webinar: The Market Value Doesn’t Support the Contract Price, Now What? Sign up now. Blog post: 9 Ways to Handle Appraisal Pressure.

Appraisal 103

Appraisal Contracts Market Value Clients 103

Housing Wire

AUGUST 28, 2020

The products I’ve put into this category primarily help in converting leads, prospects and opportunities into contracts. Specifically, I’m talking about listing agreements and sales contracts. The first is listing tools – the products designed for you to convert potential sellers into listing contracts.

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Tools Sellers Real Estate Contracts 253