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Race and the Property Valuation Industry

Appraisal Buzz

The first appraiser could have been incompetent, resulting in a lower value estimate for the couple’s property. The second appraiser could also have been incompetent, resulting in an over valuation of the couple’s property. However, the husband and wife in this article are not valuation professionals. The answer….

Valuation 370
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Going to Extremes

Appraisal Buzz

And in some condominium markets in Florida, home values are taking a hit as insurance premiums skyrocket. ICON, an Austin based firm, has developed a 3D printed wall system. These homes can endure many of the climate risks very well and could transform affordable housing as we know it.

HOA 370
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Cost Approach in Fifteen Minutes or Less

Appraisal Buzz

Appraisers use three different property valuation methods: (1) Sales Comparison relates the estimated value of our subject property to similar settled, active, and pending market sales. (2) 2) The Income Approach considers the present value of expected future cash flows. (3) Know what average home values are in your area. (2)

Valuation 370
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Jim Amorin steps down as CEO of Appraisal Institute

Housing Wire

The residential appraisal space has been rocked by increased federal scrutiny over the past two years, with several agencies studying whether appraisers let racial bias change their valuations. Home value inequalities are the result of appraisal practices that elevate White spaces as the most valuable,” the report said.

Appraisal 325
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Progress now or perfect later: Improving the appraisal process

Housing Wire

I hear these phrases quite often when it comes to product and software development, but I think they apply very well to solving complex problems like transforming the property appraisal process to work better for every stakeholder. That means development can start this year, so the industry is ready to roll out the new forms in 2024.

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AVM’s & Punxsutawney Phil’s Accuracy

Cleveland Appraisal Blog

Though, sadly some still view these types of value outputs as reliable. So, why offer a valuation service that provides values that should not be relied upon? While these sites offer some great information, when it comes to the accuracy of home values, they are all over the place. That seems good at first. .

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7 Top Tips for a Great Home Appraisal: A Checklist to Prepare Your Property

PennyMac

They must take into account all factors that influence a home’s value when developing the market value opinion in the appraisal report. Home Appraisal Cost While home appraisal costs can vary by state and property size, the fee can range between $300 and $1,200.