Simonson Real Estate

DECEMBER 6, 2022

Having worked with many different lending institutions completing new construction and planned renovation assignments, think of this article as a “best practices” reference to be shared with new lenders, credit analyst team members and borrowers navigating the commercial appraisal process for the first time.

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Appraisal Process Real Estate Appraisal Renovations 78

Appraiserblogs

OCTOBER 4, 2022

The possible exception to this are highly dense urban developments where the new construction homes are cookie cutters, and the builder sells. Inappropriate Form Use Why oh why do appraisers who should know better do private assignment appraisal reports using the mortgage lending GSE forms?….

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Appraisal Process Lending Appraisal Construction 120

DataMaster

JUNE 15, 2023

. — also known as short-term rentals (STRs) — to claim STR income as part of the borrower qualifications side of the lending decision. However, the GSEs did not make a parallel change to the property qualification side of the lending decision. This imbalance in the lending equation has created the situation we find ourselves in today.

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Appraisal Tenants Investors Business 148

Housing Wire

JANUARY 21, 2022

Still, hidden among all that greenwashed coal may be a framework or two for manufacturing diamonds, according to some experts working to develop those investment standards. And so that’s where non-QM lending comes into play.”. They validated our framework against those principles without exception.”.

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Marketing Investors Development Mortgage 369

Cleveland Appraisal Blog

MARCH 30, 2021

Within the past couple of weeks, I have appraised several properties for purchases, where my opinion of the market value of these homes was significantly below the contract price. When an appraiser’s opinion of value is below the contract price, that’s when the carping begins. Does this seem healthy to you?

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Housing Market Marketing Reconsideration of Value Contracts 367

Housing Wire

FEBRUARY 7, 2023

” Nick Smith, the founder, managing partner and CEO of Minneapolis-based Rice Park Capital Management , sees the FHFA advisory bulletin as a positive development. ” He added that the MSR market, according to his firm’s projections, is expected to grow by an additional $1 trillion UPB by 2025.

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Sellers Investors Valuation Finance 283

DataMaster

JUNE 15, 2023

. — also known as short-term rentals (STRs) — to claim STR income as part of the borrower qualifications side of the lending decision. However, the GSEs did not make a parallel change to the property qualification side of the lending decision. This imbalance in the lending equation has created the situation we find ourselves in today.

Appraisal 78

Appraisal Tenants Investors Business 78

Birmingham Appraisal

FEBRUARY 8, 2023

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. It seems that Fanniemae and the lending industry have hopped onto this bandwagon and they are dragging and pulling appraisers along with them.

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Realtors Appraisal Market Value Real Estate Agent 80

Clear Capital

NOVEMBER 29, 2022

ClearAVM is an AI-based, investment-grade AVM that produces reliable, highly-accurate market value predictions and uses machine learning to deliver property valuations on more than 139 million addresses across the United States. It leverages data on nearly every property in the nation to provide accurate information and values.

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Valuation Valuation Review Inspection Market Value 69

Housing Wire

JUNE 2, 2022

In addition, crypto-assets backed by mortgage loans are already being securitized via the blockchain by other lenders who have chosen to act now and seek permission from regulators later, if necessary — after formal rules are developed for so-called nonfungible tokens (NFTs) and other crypto-assets. The stable coin, pegged to the U.S.

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Technology Investing Investors Mortgage 372

The Robert Weiler Company

SEPTEMBER 18, 2022

Any loan for a property is based on the appraisal value. As a land buyer, owner, or seller, understanding the true market value of the real estate in question is important. Land appraisal is a process of assessing the land value and then developing an opinion of value. We dive into these areas, below.

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Appraisal Valuation Real Estate Market Value 78

Realvals

JUNE 18, 2023

The appraisal helps in establishing the loan-to-value (LTV) ratio. The LTV is a percentage that represents the amount of money to lend compared to the value of the home. An appraisal will provide you with the current market value of your real estate. An appraisal is an essential part of this process.

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Appraisal Property Taxes Real Estate Market Value 145

Birmingham Appraisal

FEBRUARY 20, 2024

The lender then obtains an appraisal to make sure that the property they are lending on, which is the collateral for the loan, is worth what they are paying for it. The appraiser must make sure that they are providing an impartial valuation so that the market value shown in the appraisal is as accurate as possible.

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Agents Appraisal Real Estate Agent Bracketing 89

CP Home Appraisals

AUGUST 27, 2018

The bulk of the appraiser’s work is focused on market analysis to decide market value based on “assumed” condition of the house. ” Furthermore, having a home inspection report ready for your appraisal will help them accurately value the property without having to “guess” at the overall condition.

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Inspection Appraisal Property Inspector Real Estate 78

Empire Appraisal Group

AUGUST 12, 2021

Appraisers use three approaches to develop an opinion of the value of a home: The sales comparison approach looks at the subject property against similar, nearby recently sold properties. The cost approach considers the value of the site and the estimated cost to replace the subject dwelling, less depreciation. Molitor-Gennrich.

Sellers 78

Sellers Appraisal Development Buyers 78

Housing Wire

DECEMBER 16, 2021

How will the Federal Reserve respond to economic developments in 2022, and what will be the impact on mortgage rates? More specifically, that means targeting an unemployment rate close to 4%, inflation close to 2%, and using regulatory tools to prevent unsound lending or other financial imbalances.

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Marketing Mortgage Supply Chain Inventory 447

Simonson Real Estate

OCTOBER 23, 2020

As the impact of COVID continues to unfold and the real estate market grapples with rapidly changing information and market conditions – commercial appraisers have had to quickly adapt to a new way of gathering reliable and credible data to base their appraisal analysis from. What are Banks Lending On? to 7.75%. .

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Appraisal Retail Tenants Real Estate 143

Cleveland Appraisal Blog

MARCH 18, 2021

My market analysis was reflective of what was taking place in that neighborhood as of the date of the appraisal. My research and analysis showed that the buyer was about to spend a much higher price than the true market value of this home. We’ve all heard of predatory lending. Is it worthy of belief? .

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Appraisal Investors Buyers Market Value 195

Padove Appraisal Service

OCTOBER 21, 2017

A common source of Total Building Area , particularly for residences in tract home developments, is building plans provided to the tax assessor by the developer. The real estate appraiser’s role is to estimate a home’s market value. The post Square footage: Ask three professionals, get three different answers.

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Real Estate Agent Real Estate Property Taxes Agents 78

McKissock

OCTOBER 23, 2020

How are divorce appraisals different from standard mortgage lending appraisals? These expert witness assignments are similar to the “before value” appraisals in condemnation cases. .” McKissock’s Unlimited Learning Membership is your one-stop, money-saving solution for all CE plus professional development.

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Appraisal Insurance Legal Development 77

The Robert Weiler Company

OCTOBER 21, 2022

If you’re reading this article, you will likely need a commercial real estate appraisal for property being sold, mortgaged, taxed, insured, or developed. The information that arises helps enlighten those who own, manage, sell, lend money, or invest in commercial real estate property.

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Real Estate Appraisal Property Appraisal Valuation 60

Birmingham Appraisal

SEPTEMBER 15, 2022

A mortgage appraisal is an appraisal that is done for mortgage lending purposes. Banks are typically absolved from discrepancies between the amount they lend and the true market value of the home meaning that they will not be held responsible to the buyer. What is a Mortgage Appraisal? Appraisal vs Home Inspection.

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Appraisal Inspection Appraisal Process Real Estate Agent 93

D Fritz Appraisals

OCTOBER 11, 2022

Home appraisers are trained to inspect and measure your property and perform comparisons that result in an accurate valuation for the current housing market. Home appraisals are a vital part of the home buying process as they have a big influence on the amount a lending institution will loan the buyer. Size of home and number of rooms.

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Appraisal Inspection Property Taxes Easement 105

Clear Capital

MARCH 17, 2022

Additionally, when an FHA appraisal is used, the Department of Housing and Urban Development (HUD) requires the home appraiser to guarantee that the subject property meets the minimum standards for health and safety. Now, amazing developments in machine learning are reinventing the appraisal review process.

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Real Estate Appraisal Technology Development 69

McKissock

JUNE 8, 2021

Should their value conclusions all fall within a reasonable range? Years ago, I was one of three appraisers selected by a lending institution to each appraise forty units in a large apartment project that was proposed to be converted to condominiums, as if they were already condo units. Yes, they did!

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Appraisal Contracts Clients Law 73

AmeriMac

MARCH 15, 2024

The concept of AMCs was developed in the 1970s but didn’t gain widespread use until after the financial crisis in 2007-2008. The crisis exposed significant flaws in the appraisal process, leading to the development of regulatory measures to ensure more accurate and unbiased appraisals.

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Appraisal Appraisal Process Valuation Real Estate 36

Appraisal Today

APRIL 12, 2024

Retrospective appraisals, drive-by (exterior inspection) appraisals, and valuations from plans and specifications, are all valuation assignments where an appraiser develops an appraisal opinion without personally inspecting the property. But if for lending, it might be rejected on review by GSE computers or humans.

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Appraisal Construction Contracts Architecture 77

Genworth MI Blog

JUNE 27, 2019

This can include improper influence to inflate the appraised value, overlook repair items, misstate facts, ignore or conceal external influences, and misrepresent market conditions. The Truth in Lending Act (TILA) contains rules addressing appraiser independence. Market value has some key elements that we must understand.

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Appraisal Tips Appraisal Law Market Value 78

Genworth MI Blog

JUNE 27, 2019

This can include improper influence to inflate the appraised value, overlook repair items, misstate facts, ignore or conceal external influences, and misrepresent market conditions. The Truth in Lending Act (TILA) contains rules addressing appraiser independence. Market value has some key elements that we must understand.

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Appraisal Tips Appraisal Law Market Value 78

Town & Country Residential Appraisals

DECEMBER 2, 2019

What is the Highest and Best Use - There are 4 tests that a property should pass in order to determine the market value of that property. Lot values for the second will very likely be much higher than the first, and this may be the better case. Appraisers do not value OGM rights in appraisals for lending purposes.

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Market Value Law Valuation Legal 36

Birmingham Appraisal

AUGUST 2, 2023

Whether you are a homeowner seeking the market value of your home for personal reasons or an agent who requires a pre-listing appraisal, a proficient appraiser should be able to communicate their findings clearly and address any questions or concerns you may have.

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Appraisal Agents Valuation Real Estate 73

Realtor

AUGUST 1, 2018

. “But for the first few years, a buyer is paying mostly interest rather than principal, so the loan amount doesn’t go down for quite a while,” says Robert Harris , owner and mortgage consultant at All in One Lending. Department of Housing and Urban Development. You can’t buy just any house with an FHA loan.

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Inspection Insurance Buyers Renovations 136

Simonson Real Estate

JUNE 10, 2020

This means their work is done and they can rest easy while feeling confident that the appraisal report supports the market value conclusion. Mr. Simonson enjoys writing about and discussing commercial real estate, personal development and business. It is really good for the appraisal review department. Contact him today!

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Real Estate Appraisal Clients Valuation 148

Assurance Financial

APRIL 29, 2021

A lender particularly doesn’t want to lend more than a borrower can repay, as the lender risks losing a significant sum of money. Department of Housing and Urban Development (HUD). FICO stands for Fair Isaac Corporation, an analytics company that developed the formula used to calculate FICO scores. ATR (Ability to Repay).

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Mortgage HOA Insurance Real Estate Agent 74

Realtor

AUGUST 1, 2018

. “But for the first few years, a buyer is paying mostly interest rather than principal, so the loan amount doesn’t go down for quite a while,” says Robert Harris , owner and mortgage consultant at All in One Lending. Department of Housing and Urban Development. You can’t buy just any house with an FHA loan.

Inspection 78

Inspection Insurance Buyers Renovations 78

Appraisal Today

JANUARY 5, 2024

I suppose it is because most appraisals are done (now) for residential lending purposes. Spend hours writing volumes of supporting documentation to justify the market value of a property you already decided on when you pulled into the driveway. Lender issues are a significant factor in USPAP and Myths 1 to 4.

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Appraisal Contracts Legal Business 75

Appraisal Today

SEPTEMBER 9, 2022

What Is a Reconciled Value? Excerpts: What does the appraiser do with the three different values that may be developed? The appraiser must now reconcile these three values into one final opinion of value. So they are paying investment value, not market value. By Jamie Owen.

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Reconsideration of Value Appraisal Clients Contracts 52