Appraisal Buzz

NOVEMBER 29, 2021

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)

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Housing Wire

JUNE 1, 2021

The Biden administration announced proposals to combat the racial wealth gap , including a tax credit to rehab homes for low and moderate-income homebuyers as part of the trillion dollar infrastructure package. How hybrid title and valuations help increase lending efficiency. Streamline by combining services. Presented by: Altisource.

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Housing Wire

NOVEMBER 17, 2022

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.

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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. A few things to watch out for: The contract price may be considerably below fair market value and should not influence the appraised value. What is shared equity?

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Housing Wire

FEBRUARY 24, 2023

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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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. They had hired the former real estate professional to value their property for the purpose of a divorce. But then they had to hire me to perform an appraisal.

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Housing Wire

JANUARY 13, 2022

But they claim that Quicken Loans influenced appraisers to raise their home values and originate higher loans. According to the lawsuit, the Aligs, for example, estimated their home was worth $129,000, and provided the information to Quicken Loans. Messages left with plaintiffs’ attorneys were not returned.

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Housing Wire

MAY 11, 2021

This is why most automated valuation models (AVM) default to assessing “average” quality and condition. As a result, it is often difficult to differentiate (and accurately value) properties at the above-average and below-average ends of the spectrum.

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Housing Wire

JUNE 29, 2021

The average home value for high hazard risk properties is $697,000, as compared to the neighborhood average of $773,000 dollars. With a nearly $75,000 gap, it becomes evident that homes in Otay Ranch at higher risk also have lower property values.

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Housing Wire

AUGUST 3, 2023

The history of AI and where it is going The Turing Test was developed by Alan Turing in 1950. A functioning neural network was viewed as the pathway to develop AI capable of learning anything a human could, and perhaps becoming more intelligent than humans. It re-emerged in the AI scene in October 2012. What is next?

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Eppraisal

JANUARY 29, 2023

Another measure of value -- land values, not home values -- is information derived from a raw land appraisal. A land appraiser must calculate valuation as much on the buyer's intentions for the land as on the characteristics of the property itself. As a result, this valuation often exceeds assessor estimates.

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Housing Wire

MAY 2, 2021

One of the first steps in determining a property’s value is the use of an Automated Valuation Model (AVM). Using an AVM helps lenders quickly and accurately get an independent assessment of collateral value, which can streamline the home buying process for them and the borrower.

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McKissock

MAY 13, 2022

Home Value Stories. The Home Value Stories podcast, hosted by residential real estate appraiser Jamie Owen, is designed for those who would like to learn more about real estate appraisals and other real estate-related topics. Check out a recent episode, titled “Are You Trading Time for Money?”

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Cleveland Appraisal Blog

FEBRUARY 4, 2021

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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D Fritz Appraisals

DECEMBER 16, 2022

Every year, BC Assessment creates property tax assessments for over 2 million homes in BC. These assessments provide a valuation of each property as of July 1 st in the previous year (So 2023 tax assessments are based on the value of homes on July 1 st, 2022). Size of home in square feet. Age of home.

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Housing Wire

NOVEMBER 2, 2021

Accordingly, FHA should also develop a process that would allow borrowers to request that their MIP be lowered at a 75% LTV. The process should allow the loan to reach the 75% threshold through a combination of principal paydown and home value appreciation (subject to an acceptable third-party valuation).

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D Fritz Appraisals

OCTOBER 11, 2022

There are many reasons you may need to know the value of your property and for this, you need a home appraisal. Home appraisers are trained to inspect and measure your property and perform comparisons that result in an accurate valuation for the current housing market. Valuation for insurance claims.

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Housing Wire

NOVEMBER 13, 2023

Prolicense Florida pricing Education Type * Prelicensing Post-License CE License Renewal CE Professional Development Starting at $131 $156 $24 $49 Package Features Standard: Coursework, Intuitive Online Exam Prep Platform Designed to Mimi Content on the Florida Licensing Exam Post-License Online Coursework. This is the equivalent of $32.31

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Housing Wire

OCTOBER 18, 2022

Automated Valuation Models (AVMs) are having a moment. homeowners sitting on more than $30 trillion dollars in home equity, many lenders are looking to the latest AVMs to improve the accuracy and efficiency of their home equity lending. Ultimately, this translates into smarter AVMs that can do more in less time.

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Clear Capital

NOVEMBER 15, 2021

Normally, a top real estate agent’s CMA ( comparative market analysis ) is all you need to gauge what a buyer is likely to pay for your home, saving sellers the $500-$600 extra expense of ordering an appraisal. And you can always get a free online home value estimate as a starting point.

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Appraisal Today

JUNE 23, 2023

Fannie has been upfront about its interest in developing appraisal “alternatives.” Both Fannie and Freddie insist that appraisers remain an integral part of the valuation landscape and demand for appraisal services will continue into the future. However, the timing of Fannie’s update could not have come at a worse time. Worth reading.

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PennyMac

OCTOBER 10, 2023

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.

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Raleigh Realty

FEBRUARY 19, 2022

Of course, if you're in a hot market and believe the home is worth what you're offering, you could save yourself time and energy by skipping the appraisal process. Does a Newly Constructed Home Need an Appraisal? Yes, even a newly constructed home needs an appraisal. Often new constructions don't have developed yards.

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Appraiserblogs

FEBRUARY 13, 2023

We’ve all heard… The post The Real Cause of the Home Value Gap Is the Income Gap appeared on Appraisers Blogs.

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The Robert Weiler Company

OCTOBER 15, 2021

Consider this: According to Crain’s Chicago Business, Columbus saw the most substantial increase in total home value in the country. As such, awareness of these six potential issues is critical to success: Missing the mark with commercial property value. It is also where most errors often occur.

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AmeriMac

JANUARY 30, 2024

Moreover, the reverse mortgage appraisal report, reflecting the current home value, significantly aids in the loan application process. An accurate appraisal report provides mortgage lenders with informed valuation insights, guiding them in the loan approval process.

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Appraisal Today

FEBRUARY 23, 2024

The collected data, including scans, videos, and photos of consumer’s homes and possessions, must be protected and access to data must be controlled. The property data collection process by unlicensed and unregulated people hampers the appraiser trainee’s development and hurts the next generation of licensed and certified appraisers.

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Appraisal Today

MAY 19, 2023

ChatGPT is an advanced AI language model developed by OpenAI that can be used to streamline the appraisal writing process. My first appraisal job was updating data records for an assessor’s office, converting to computerized valuation in the mid-1970s. The answer is, Yes! Nothing wrong with that. I learned a lot.

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AmeriMac

MARCH 29, 2024

To be eligible for a reverse mortgage, homeowners must meet certain criteria set by the Federal Housing Administration (FHA) and the Department of Housing and Urban Development (HUD). These criteria include being at least 62 years old, occupying the property as the principal residence, and having sufficient equity in the home.

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Cleveland Appraisal Blog

MAY 13, 2021

We must have solid support that we use when developing our opinion of value. What is solid support for market value? However, a home may be bid up far beyond what is supportable by other comparable sales in the neighborhood. We develop our opinions of the value primarily upon closed sales.

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Housing Wire

MAY 27, 2022

There is no single silver bullet that will rectify the pernicious impact of bias in residential real estate valuations — it is a complex problem that requires a multifaceted solution. As a result, homes located in minority neighborhoods have been chronically undervalued, exacerbating the racial wealth gap.

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Housing Wire

JUNE 14, 2022

The Federal Housing Finance Agency released voluminous plans last week developed by Fannie Mae and Freddie Mac to make the housing market more equitable, in part through changes to the appraisal process. According to Freddie Mac’s equitable housing finance plan, it could be the expansion of automated valuation models.

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Will Springer Realtor

AUGUST 11, 2023

This follows a decade of producing rentals over traditional for-sale homes in the city by a 3:1 ratio. Some developers are delivering smaller homes in the form of four- and six-plex townhomes on a parcel of land that once featured a single-family house. Bellevue has an average hourly wage for developers of $74.85.

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Houston Properties

MARCH 23, 2022

Winners: Stocks (depending on starting valuations), real estate & commodities. Real estate can be an inflation hedge for three reasons: Real estate holds intrinsic value. With higher home values come higher rental rates. With higher home values come higher rental rates. Us Bureau Of Labor Statistics.

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