July, 2021

Susan Rice to co-chair HUD appraisal task force

Housing Wire

The interagency task force to combat inequity in appraisals, led by Housing and Urban Development Secretary Marcia Fudge, will be co-chaired by former United Nations ambassador Susan Rice.

Even Today, No Algorithm Can Fully Replace Appraisers

Appraisal Buzz

In hindsight, I didn’t choose the easiest profession. Over the last 40 years at my job, I have come to the realization that there aren’t that many people who do what I do.

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Is Appraisal Systemically Biased?

George Dell

Appraisal standards and regulations are mostly designed to discourage personal bias. But what about traditional appraisal practice? To understand this question, we must separate personal bias from analytic bias.

Dear Appraisers, Why do You Care about Your Competition’s Fees

The Appraiser Coach

As appraisers we often wear at least two different hats. You have heard me talk about the business owner cap versus the technician cap. While we often play both roles, Read More.

MORE AMORIN INFLUENCE (MAI): The AI National Nominating Committee Design Is Being Attacked By FOJs

Miller Samuel

To all members of the Appraisal Institute: Before I start, I wanted to share what the Appraisal Institute's MAI designation is referred to by many of its members. I learned these two from an MAI instructor years ago (pre-merger) who told our class (as if to motivate us?)

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The housing market is slowing (but not slow)

Sacramento Appraisal Blog

The housing market is slowing and today I want to share seven quick ways I’m seeing that. But here’s the thing. This market is still driving at warp speed. In short, the market is slowing, but it’s not slow.

The homebuyer journey is changing – So should you

Housing Wire

The 2021 RealTrends Gathering of Eagles real estate conference captured our attention when the role and future of the real estate transaction process for a homebuyer were lively debated. Big players such as Zillow, Redfin, Compass… etc. claim dominance.

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4 Home Repairs You Need to Hand Over to a Professional

Cleveland Appraisal Blog

I hope you all are doing great this week! My family and I are in the midst of a first floor renovation, whilst caring for my wife as she continues to recover from her broken ankle, as I mentioned in my last post.

Why Didn’t You Use This Comparable?

George Dell

Reviewers ask why a certain sale was not used as a comparable. Why don’t they know I already used the best comps, just like I was taught? Don’t they know I used what was competitive, similar, and “able to be compared” – Just like The Appraisal of Real Estate 15th ed.

How to Stop Wasting Time on Spam Calls

The Appraiser Coach

Your phone rings, it’s a local number and you answer right away. Afterall, it could be an appraisal order from a new customer, a potential homeowner, a local bank, or. Read More.

Has the housing market peaked this year?

Sacramento Appraisal Blog

Are prices finally starting to slow? Can it really be happening? Has the housing market likely peaked for the year? The answer is YES. Here are two quick things on my mind.

Cash buyers are scooping up homes like mad

Housing Wire

Cash buyers are pouring into the housing market this year, and they’re picking off more than half of available inventory in certain areas in Florida and New York. As of July 14, nearly one-third of U.S.

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The Week Ahead: Will Record Home Price Gains Continue?

Appraisal Buzz

Supply concerns continue to overshadow low rates, as a new CoreLogic report will examine the path home prices took to close out Q2. The post The Week Ahead: Will Record Home Price Gains Continue? appeared first on theMReport.com. The post The Week Ahead: Will Record Home Price Gains Continue?

Broken Ankle & Kitchen Remodel… Life Happens

Cleveland Appraisal Blog

Hello everyone! I hope you are all having a fantastic summer. It’s good to a little normalcy coming back. While I had intended on posting something more substantial this week, life has made that a little tricky. Last week, my wife broke her right ankle in numerous areas.

How Do You Time Adjust?

George Dell

Time adjustments is a timely topic. Recent ski-jump rises in prices have been ramp-ant in many places. Valuemetrics.info provided a free, two-hour webinar on the topic, and we had almost exactly 1000 appraisers sign up. Although many did not show – free, you know.)

Driving Comps Can Be Risky Business

The Appraiser Coach

Recently, I had a scary experience while taking comp photos. I live in a very rural area where there are a lot of people who are very protective about their. Read More.

Does it need a closet to be a bedroom?

Sacramento Appraisal Blog

Do you need a closet to be considered a bedroom? That’s a big question and the answer is simple. Actually, it’s not. Here are some things to consider. NOTE: This post does not address the requirements to be a bedroom.

Home sales are beginning to stall as buyers hit their limit

Housing Wire

Home sales fell 1.2% from May to June, the largest drop at this time of year on record since at least 2012, according to a new Redfin study released this week. The national median home-sale price hit a record high of $386,888, up 25% year over year, but a slight decline from the record of 26% in May.

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CoreLogic Collaborates with Paradatec on HMDA Reporting Tool

Appraisal Buzz

Paradatec , an AI-based document classification and data extraction technology company for mortgage loan processing, is joining CoreLogic to support CoreLogic HMDA Check, a loan auditing tool that leverages automation to help lenders comply with the Home Mortgage Disclosure Act (HMDA).

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Desire for Homeownership Continues to Increase

Eyes on Housing

Seventeen percent of American adults are considering the purchase of a home within a year, according to NAHB’s Housing Trends Report for the second quarter of 2021.

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Opinion, Estimate, or Prediction?

George Dell

Once upon a time, appraisers did not give an opinion! They provided estimates. Why the change? It seemed appraisers were getting sued over their estimates of value, which opened the door to attack on how the analysis was done. An estimate comes from an analysis. The professional response: “We will just deliver an opinion!” Safe! […]. The post Opinion, Estimate, or Prediction? appeared first on George Dell, SRA, MAI, ASA, CRE.

Getting a “No”

The Appraiser Coach

We are constantly negotiating with people in our lives. All day, every day, we are asking things of our friends, family, clients and coworkers. We’ve been taught to try and. Read More.

Spotlight Form: T&M Tickets

GoForrmz

Digitize your construction operation’s time and material (T&M) tickets Frontline personnel are constantly burdened with reporting data from the field - including T&M tickets.

For housing, look at bonds over MBS or federal debt

Housing Wire

This is the first time I am writing about mortgage backed securities (MBS) because I hardly ever consider this aspect of the housing ecosystem in my work. But since now even Federal Reserve members are discussing the pros and cons of MBS, this is a good time to give you my take.

President Biden Pushes for Eviction Moratorium Extension

Appraisal Buzz

President Joe Biden on Thursday urged Congress to extend the eviction moratorium, set to expire Friday, also calling on the U.S. Departments of Housing and Urban Development, Agriculture, Veterans Affairs, local municipalities, and other agencies to do the same.

Why Builder Lumber Prices Remain Higher than Headlines Suggest

Eyes on Housing

Lumber futures prices have decreased by 52 percent (on a front-month basis) over the past seven weeks as mill prices have fallen 48 percent over the same period.[1] 1] In contrast, prices paid by builders since late May have declined by a fraction of that impact.

July Newsletter – Are prices falling?

DW Slater Company

Photo by Tasos Mansour on Unsplash. On Sunday night we saw a bright fireball falling from the sky. It was a meteor and many others in North Texas witnessed it fall and then explode when reaching the earth’s atmosphere. It was unexpected and beautiful.

How the Ohio COVID-19 Tax Relief Reduces Your Commercial Property Value

The Robert Weiler Company

Every six years, commercial property owners in Ohio face a reassessment of their property values conducted by their local County Auditor’s office. Typically, owners can only contest these values once every three years. But we all know that 2020 was anything but typical.

ProTip: Customize Your Table Fields with These 3 Powerful Fields & Properties

GoForrmz

Level-up your Table fields with easy-to-use form logic, instant calculations, and more Table fields provide form fillers with a simple, intuitive, and organized space to enter data.

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How Delta variant may impact housing market

Housing Wire

The following Q&A comes from the HW+ exclusive Slack channel, where HousingWire’s Lead Analyst Logan Mohtashami answered questions on what to make of the latest housing data, his forecast for the rest of this year, and whether or not the housing market is returning to normal.

White House Calls On Lawmakers to Renew Eviction Ban

Appraisal Buzz

President Biden turns to Congress and other agencies for support in extending expiring renter and homeowner protections. The post White House Calls On Lawmakers to Renew Eviction Ban appeared first on theMReport.com.

Price of OSB Up More Than 500% Since January 2020

Eyes on Housing

Framing lumber prices garnered more attention than any other building material over the past year as prices quadrupled between April 2020 and May 2021.

The Noose is Hung…

Appraiserblogs

The Noose is hung and… When Dodd Frank was implemented lenders started using appraisal management companies, eliminating appraisers relationships basically overnight. Appraisers embraced the change reluctantly and started accepting assignments from appraisal management companies.

How to Move Cross Country

Raleigh Realty

How to Move Cross Country Considering a cross-country move? Here's our how-to-move cross-country guide jam-packed with useful money-saving tips There are few transitions in life more disruptive than moving. Add to that a cross-country haul in between and you are looking at quite the challenge.

How to Use Digital Forms to Collect Better Energy Field Data

GoForrmz

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Are we back to a normal housing market?

Housing Wire

In the last few months in my articles for HousingWire, I have written that monthly supply has been rising and that this increasing supply was the most critical metric for the housing market, specifically the new home sales market.

SitusAMC Announces Partnership With String

Appraisal Buzz

New collaboration brings title services under the SitusAMC banner and expands the company’s India division. The post SitusAMC Announces Partnership With String appeared first on DSNews. The post SitusAMC Announces Partnership With String appeared first on Appraisal Buzz. Around The Web