April, 2021

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Here it is: Biden’s first-time homebuyer tax credit legislation

Housing Wire

Consumers have been closely following President Joe Biden’s proposed first-time homebuyer tax credit , but the newest form of that proposal has several significant restrictions. The latest draft of a down-payment assistance bill would provide $25,000 to first-time homebuyers, but only those who are also first-generation homebuyers and economically disadvantaged.

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Embracing New Technology and Efficiency

The Appraiser Coach

I recently met with another appraiser who admitted to me he was still using a clipboard and pen. There are very few people out there still using these; most appraisers. Read More.

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Is Market Value Itself Biased?

George Dell

Could the very definition of market value hold bias? Let’s look. First, we need to figure out what types of bias there might be. There are two major categories: 1) analytical bias; and 2) human bias. And there may be some overlap! Analytical bias generally comes from two places: Error in data selection; Error in […]. The post Is Market Value Itself Biased?

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The housing market feels like chaos

Sacramento Appraisal Blog

It feels like chaos out there. The housing market is on steroids and it’s mind-blowing to see such rapid growth lately. Today I want to unpack ten things I’m watching in today’s market. For my out-of-area readers, I’m guessing you are probably seeing the same trends. But please let me know. What is similar or […].

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ProTip: Instantly Populate a User’s Location When A New Form is Generated

GoForrmz

Automatically populate a user’s GPS location when they generate a form and improve operational transparency GPS fields improve transparency into your team’s activities across job sites, franchise locations, offices, and more. These GPS fields can even be instantly populated when a user generates a new form, reducing data entry demands and ensuring an accurate location is entered every time.

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Here’s What Your Mortgage Lender Wants You To Know About Buying a House Right Now

Realtor

Getty Images Even during the COVID-19 pandemic, people want—and need—to buy homes. The housing market has been red-hot for a while, but the current market conditions make buying more of a challenge than ever. “There is a shortage of houses in many markets. This is creating bidding wars, offers over asking, and appraisal gaps—houses are going quickly,” says Shanon Schinkel , branch manager and mortgage lender at Homebridge Financial Services.

Mortgage 159

More Trending

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Can You Be an Appraiser and an Agent at the Same Time?

The Appraiser Coach

It is possible to be simultaneously licensed and practicing as a real estate appraiser while also being a licensed and practicing real estate agent. The answer is yes, but there. Read More.

Agents 370
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Is Valuation Basic? Part 1

George Dell

Basic sequence of valuation is basic: identify problem, gather the “comparable” data, adjust, and report. Simple. Basic. The Market for Valuation Series, Part 1 How about AVMs? (Automated Valuation Models). The words are a bit different, but the process is the same: Enter the address, apply the data collect algorithm, apply the predictive algorithms, spit out […].

Valuation 370
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Tips for finding an appraiser in this crazy market

Sacramento Appraisal Blog

“Help. We can’t find an appraiser to come to the property. Everyone is saying NO. What do you suggest?” I’ve been getting this question multiple times every week, so here are some thoughts. Market update: By the way, in case you needed some background noise, here’s an hour-long market update I gave for SAFE Credit […].

Appraisal 351
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6 Fields & Features to Add To Your Digital Manufacturing Contracts

GoForrmz

Augment your manufacturing contracts with these powerful fields and features Digital form fields and features can significantly improve the completeness and professionalism of your manufacturing contracts and service agreements. Your manufacturing forms can be easily digitized for use on phones, tablets, and computers, making it easy to generate and dispatch forms from any location.

Contracts 158
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What Is A Home Appraisal?

DataMaster

What is an home appraisal? Why Didn’t My Home Appraise Higher? Appraisals can be confusing. A friend (I’ll call him Art) recently had his home appraised. When the appraisal came back, he was shocked to see that his home appraised for less than two homes nearby that had recently sold. Art’s home has an upgraded kitchen and newer carpet.

Appraisal 158
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CFPB proposes foreclosure ban until 2022

Housing Wire

The Consumer Financial Protection Bureau (CFPB) released a notice of proposed rulemaking on Monday that would amend Regulation X to provide a special pre-foreclosure review period prohibiting servicers from starting foreclosures until after December 31, 2021. Under current CFPB foreclosure rules, a borrower must be 120 days delinquent before the foreclosure process can start.

Tools 544
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Appraisers: Fraud is Not Okay

The Appraiser Coach

Some people might say a public forum isn’t the place to air this dirty laundry, but this is not really a public forum. Of my thousands of readers, very few. Read More.

Appraisal 370
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Appraisal Woes Not Your Lender’s Fault; Blame Andrew Cuomo :)

JMV Lending

One of the most frustrating and expensive aspects of our business is dealing with low appraisals. It is frustrating b/c borrowers invariably blame us for the problem – even though we have very little control over the issue. It is expensive b/c we often end up throwing money at the issue to assuage borrowers and […]. The post Appraisal Woes Not Your Lender’s Fault; Blame Andrew Cuomo :) appeared first on JVM Lending.

Appraisal 147
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Political Correctness

Appraiserblogs

If not for all the Political Correctness speech prohibitions, I could earn a living as a comedian off my family tree stereotypes alone!… One of the saddest things about Political Correctness is that we lost the ability to laugh at ourselves, including our racial stereotypes. One of my old diving partners was black, and he and I could tease each other.

Appraisal 146
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The Top 5 Digital Forms for Beverage Distributors

GoForrmz

Streamline and accelerate order fulfillment, customer communication, and invoicing Digital forms act as a powerful asset for beverage distribution teams. When relying on paper forms or cumbersome PDF fillers, miscommunications resulting from data entry errors, lost forms, or form delivery delays can have costly consequences. For example, entering the wrong product name into a form could result in a product out of stock (OOS) at a customer site – a mistake that can cost your operation business or

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Second mortgages: Popular FAQs

Midtown Appraisal Group

Second mortgages can be useful – but it’s important to know what you’re getting into As appraisers, it’s not unusual for us to be asked to provide a valuation for a property when a second mortgage is being considered. Because second mortgages are, as their name suggests, ‘second in line’ to be repaid after the […].

Mortgage 136
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Who qualifies for the $25K first-time homebuyer grant

Housing Wire

If recently-introduced first-time homebuyer legislation were to be enacted as written, about 4.37 million people – roughly 10% of the nation’s renters – could be eligible for up to $25,000 in downpayment assistance. Advocates of the policy say the program’s thoughtful targeting would allow it to reach those who need it the most, while industry experts told HousingWire that a complex, heavily means-tested program could create compliance pitfalls.

Buyers 541
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How accurate is a Zestimate vs a Home Appraisal?

Chicagoland Appraisal Blog

When Zillow first came out, real estate appraisers would often hear “Zillow says my home value is…” This is usually followed by a cringed face and sigh. To put this debate to rest, o ur lead appraiser John did a sampling of recently appraised homes in Chicago to see how Zillow stacks up against a local real estate appraiser. We first started at what Zillow says about the accuracy of Zestimates.

Appraisal 135
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Will a Part-Time Real Estate Agent Salary Be Enough for You?

McKissock

Becoming a real estate agent requires a giant leap of faith and an investment of time and money. That’s why some agents may choose to test the waters with a part-time real estate position while hanging onto a steady income from another job. Industry veterans may also find that working for a part-time real estate agent salary provides an alternate or transition to retirement or a way to balance work and family life.

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Amrock Mandatory Diversity Training

Appraiserblogs

An appraiser shared the following with us. Amrock is requiring all appraisers on their panel to complete a diversity, equity and inclusion training by April 19, 2021. Amrock Diversity, Equity and Inclusion Training Requirement: You’re Cordially Required to Take Part in This Training Hello, As an organization, we firmly believe in the importance of diversity, equity and inclusion (DE&I) for everyone – and we’ve taken a stance through the implementation of our DE&I Strategic Plan.

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Powerful Features to Add To Your Digital Evaluation Forms

GoForrmz

Easily collect feedback with digital evaluation forms and online form sharing From student progress reports to customer surveys, digital (and online ) evaluation forms simplify the collection of important feedback. Your digital evaluation forms can be easily digitized for use on phones, tablets, and computers, requiring no code or IT support to get started.

Business 158
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How to Challenge a Low Appraisal—And Win a High Valuation

BiggerPockets

Your ability to qualify for a mortgage hinges on your home appraisal—so how can you maximize your home's value? Here, learn how to challenge a low appraisal and get the highest valuation possible.

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5 signs you’re ready to downsize your home

Housing Wire

Should you or shouldn’t you downsize? If you’re a homeowner , this is a question you’ll inevitably ask yourself. While owning a home is exciting, it comes with a great deal of responsibility. If your home doesn’t fit your lifestyle anymore, you might want to consider purchasing something smaller – or even renting. Besides cutting costs, downsizing has additional benefits.

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How to Deal with or Prevent a "Low" Residential Appraisal?

Advanced Appraisal

Chicago and South Suburban Appraisal Blog

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What Types of Appraisals Are in High Demand Due to COVID-19?

McKissock

The COVID-19 pandemic has significantly influenced the real estate market over the past year. Last month (March 2021) we asked appraisers across the U.S., “What type of appraisal has seen the MOST growth in demand in your local area due to COVID-19?” About two-thirds of survey respondents reported that residential appraisals have experienced the biggest pandemic-related boom.

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Appraising Madoff

Appraiserblogs

It was a bit surprising how little attention was paid to the announcement of Madoff’s death in prison. Good. His returns were amazingly linear and there were a number of people that kept calling out the ponzi but he was close with regulators. Because my firm is located in NYC, we’ve ended up doing appraisals in matters related to the post-Madoff tragedy/cleanup.

Appraisal 141
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Field Service USA Roundtable Recap: Adapting to Challenges in the Field with Digital Tools

GoForrmz

Explore the key takeaways from our Field Service USA 2021 executive roundtable This week we had the pleasure of leading a field service executive roundtable discussion on overcoming challenges in the field with digital tools and resources, featuring GoFormz CEO, Rob Brewster, alongside our customer guest, Goldwind USA. Joined by over a dozen field service executives, our roundtable began with a discussion of how Goldwind USA leverages GoFormz to save their team time and significant budget throug

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Do Short-Term Rental Hosts Have a Bigger Tax Burden? Here’s What to Know

BiggerPockets

Short-term stays using popular rental services like Airbnb are quickly becoming the norm. But being a host can change your tax liability? If investors are not careful, they may end up paying additional taxes. Here's how to avoid self-employment taxes.

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The housing market won’t crash in 2021. Here’s why

Housing Wire

A recent article published by CNBC showed that internet searches for the term “housing crash” had gone up 2,450% in the past month. A lot of folks are concerned about a housing market crash. They may be wishing for it, or they may be fearing that it will happen — but they are thinking about it. I understand the concern. A home is your shelter.

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How to Build Equity in Your Home

Assurance Financial

How to Build Equity in Your Home. When you own your home, you can feel a sense of stability and security. You have a roof over your head and a place to raise a family if you choose to do so. You also get full control over how you decorate the home and any changes you make to it. There’s another benefit to homeownership, and that’s the chance to build equity in your home.

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Top 10 Tips for Working with AMCs

McKissock

We love to hate them. But with a majority of the mortgage appraisal volume being engaged through appraisal management companies, as an appraiser, working with AMCs is almost a necessity today. One way to boost your business is by working smarter with your AMC partners. Here are ten tips designed to help you improve your appraiser score, get more assignments close to home, and earn more money working with AMCs. 1.

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What Does a Commercial Real Estate Appraiser Do?

Real Quantum

What Does a Commercial Real Estate Appraiser Do? W hen people think of appraisers they usually think of residential appraising. Most people’s only experience with an appraiser is when they buy a home. The role of commercial real estate appraiser may not be as well-known, but they have many similarities. What does a commercial real estate appraiser do?

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6 Ways Field Service Teams Are Winning with GoFormz

GoForrmz

Turbocharge your field service workflows with digital forms and data capture No matter your industry, digital forms and data capture can significantly transform your operations daily workflows. Your digital field service forms can look exactly like your existing work documents (requiring no code or IT support) making it easy to onboard new users or maintain critical formatting requirements.