September, 2022

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The Role of Appraisal Review in the Risk System – Appraisal Revisions

Appraisal Buzz

This is part three of a three part series on appraisal review – Read parts one and two. When interacting with executive managers, I am often posed with the following question “How do you know when you are looking at a “good” appraisal?” The reality is there is no universal acceptance of a single method of measurement to differentiate “good” from “bad.”

Appraisal 237
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Chasing the ball down the road in real estate

Sacramento Appraisal Blog

Sellers have been chasing the ball down the road. What I mean is prices have been going down lately, and sellers are trying to find the market through price reductions. I can’t speak for the entire country, but I’d like to talk about what’s happening locally.

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Can You Photograph A Smell?

The Appraiser Coach

You may have heard that you can’t have opinions about the color of a room or shaggy carpet as you’re doing your job and walking through homes… that’s dead wrong. Read More.

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The risk of zero-down loans while the Fed talks recession

Housing Wire

Bank of America recently announced a loan for lower-income households that doesn’t require homebuyers to come up with a downpayment or closing costs, and doesn’t base the loan on a minimum FICO score. People’s first reaction was to wonder if this was 2008 all over again.

Inventory 426
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Appraisal Reports Are Like Flipbooks

Cleveland Appraisal Blog

A flipbook is a book with a series of pictures that change slightly with the turn of each page. When flipping thru one of these books, the viewer’s mind fills in the gaps between pictures so that an animated story and picture develops.

Appraisal 279
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An Excess of Appraisers? Part III

George Dell

Editor’s Note: This is Part 3 of the series on Excess of Appraisers and how this cyclical phenomenon is affected by the five frictions of modernization. The emerging excess of appraisers is inevitable and recurring.

Appraisal 195

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Buyers & sellers feeling stuck in the housing market

Sacramento Appraisal Blog

I love the original Back to the Future movie. Do you too? Well, I can’t help but think of today’s housing market compared to the film. Sellers have tended to be stuck in the past expecting the market to be hotter than it actually is right now.

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The Mysterious “Company Policy”

The Appraiser Coach

Before the COVID-19 pandemic began, my daughter was doing some volunteer work in South America, helping people who have been rescued from the human trafficking industry. She was down there. Read More.

Business 195
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Are we seeing a mortgage rate lockdown?

Housing Wire

The premise of a mortgage rate lockdown is simple: so many American households have such low mortgage rates that some will never move once rates rise, which then locks up housing inventory.

Mortgage 412
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What Is a Reconciled Value?

Cleveland Appraisal Blog

Have you ever read thru an appraisal report? You may have noticed that there are three approaches to value. The Sales Comparison Approach, the Cost Approach, and the Income Approach.

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Should We Think About Thinking?

George Dell

Appraisers are paid for their thinking, as well as some other skills. If there is no thinking, it can be called an “Automated” appraisal. Thinking is defined as giving thought to consider or reason about something – using rational judgment. Thinking about thinking can cause discomfort.

Appraisal 195
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More Women Working in Construction in 2021

Eyes on Housing

The number of women employed in the construction industry increased to over 1.24 million in 2021, as the construction industry was quickly recovering jobs lost earlier during the pandemic induced recession. Currently, women make up 11% of the construction workforce, up from 9.3% in 2002.

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Choosing comps in a changing market

Sacramento Appraisal Blog

I’ve been getting asked lots of questions lately about choosing comps since the market shifted. Here are some things people have been asking me.

Marketing 342
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Take the Plunge!

The Appraiser Coach

A little over a year ago, I went on a vacation with my family to Glacier National Park. While we were there, we took everyone on a hike to St. Read More.

Appraisal 195
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Freedom Mortgage conducts layoffs, sends jobs overseas: sources

Housing Wire

Top 10 lender and servicer Freedom Mortgage has trimmed its workforce across multiple rounds of layoffs this year and continues to “offshore” some jobs, former employees tell HousingWire.

Mortgage 407
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How to Ease the Transition to Senior Living

Cleveland Appraisal Blog

Hello everyone! This week I welcome guest blogger Andrea Gibbs. In this article, she offers some tips on how to transition a loved one to senior living. I hope you find her tips to be helpful! Turning retirement from a dream into reality is not an easy feat for seniors.

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Appraisal Reform: What’s Missing?

George Dell

What’s missing? Appraisal reform is focused on current ‘urgent’ issues. The problem is that some fundamental, underlying issues are not in focus! The concern is that it’s the underlying foundation that may be the core of the problem.

Appraisal 195
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Gypsum Products, Transformers, and Concrete Prices Post Historic 12-Month Increases

Eyes on Housing

The prices of building materials rose 0.5% in August (not seasonally adjusted) even as softwood lumber prices decreased 5.2%, according to the latest Producer Price Index (PPI) report. Building materials prices have climbed 4.9% through the first eight months of 2022 and 14.3% over the past year.

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Chuck Norris eats 7% mortgage rates for breakfast

Sacramento Appraisal Blog

Housing trends are changing by the week, and it’s time to start believing the Fed when they talk about resetting the housing market. Let’s chat about this today, and I’d love to hear your take in the comments.

Mortgage 321
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Charge Your Batteries!

The Appraiser Coach

A couple years ago, I went out and bought a new camping trailer. This trailer, like many other recreational 5th wheels, has a battery that powers it. But this battery. Read More.

Business 195
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Housing completion data is now savagely unhealthy

Housing Wire

Housing construction in the U.S. during the brief COVID-19 recession, to that recovery, and now in the new housing recession, is going to go down in history as one of those crazy data lines we lived through. Just to give you some perspective here, at the peak of 2005, we had about 2.24

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CFPB Accused of Exceeding Statutory Authority

Appraisal Buzz

A group of seven banks and trade groups are taking legal action in the Eastern District of Texas, challenging the Bureau’s update to the Unfair, Deceptive, or Abusive Acts or Practices Section of its exam manual, and for potentially violating the Administrative Procedure Act.

Legal 195
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Is Critical Thinking Really Necessary?

George Dell

Neither Critical, nor Thinking as words together are found in USPAP. Nor are they found in my copy of The Appraisal of Real Estate! Must be important. What is it? Do we need it? Is it worth the effort? I realized that although I have been promoting critical thinking in my classes […].

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Share of Smaller Lots Record High Amid Pandemic

Eyes on Housing

Despite the pandemic-triggered suburban flight and presumed shifts in preferences towards more spacious living, a rising share of new for-sale homes were built on smaller lots.

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Conservation Easement in Ohio: A Guide to Protecting Our Treasured Land

The Robert Weiler Company

The importance of a fully modern open space preservation vehicle – a conservation easement in Ohio – cannot be better summarized than by our 26th President.

Easement 124
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Mortgage Rates Impacting Housing- September Newsletter

DW Slater Company

“Texas is neither southern nor western. Texas is Texas.” ” ~William Blakely. I am a 7th generation Texan on both sides of my family. I can trace my roots back to the Battle of San Jacinto and the Old Three Hundred. If you are from Texas then you get it.

Appraisal 117
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House passes bill to modernize VA appraisals

Housing Wire

The U.S. House of Representatives this week passed a bill that streamlines the appraisal process for U.S. Department of Veterans Affairs mortgage loans.

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Off-Season Shoppers Find More Options Amid Sparse Inventory

Appraisal Buzz

As the housing market tries to adapt to multiple external influences, the fall housing market is offering off-season shoppers more options this fall comparatively to 2021, as inventory increased 26.9% over the year according to the Monthly Housing Trends Report published by Realtor.com.

Inventory 195
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On the House: How First-Time Homebuyers Can Negotiate Serious Savings

Realtor

Realtor.com / Getty Images First-time homebuyers are taking their power back.

Realtors 133
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Lot Values Set New Records

Eyes on Housing

Lot values for single-family detached housing starts in 2021 increased across the nation, with the national value and six out of nine Census division values setting new records.

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Conservation Easements Pros and Cons: Keep Ohio Cool and Green

The Robert Weiler Company

Summer in the Buckeye State can be a sultry affair. And, surprisingly, one way to beat the heat may involve a unique land protection vehicle known as a conservation easement. From a climate perspective, a green oasis can help cities lessen their urban heat island effect.

Easement 124
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Users Love Us – Read What Our Customers Have To Say

GoForrmz

GoFormz customers share their insights and success stories Teams across the globe and every industry rely on GoFormz.

Business 124
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Why the Fed’s housing reset risks a global recession

Housing Wire

When Federal Reserve Chairman Jerome Powell talked about a housing reset in June , it sent shockwaves around the country because it sounded so ominous. In the most recent FOMC meeting , held last week, Powell finally clarified what he meant by that term and what a housing reset means to the Fed.

Inventory 393
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Priscilla Almodovar to Serve as Fannie Mae CEO

Appraisal Buzz

A financial services veteran, Almodovar brings more than 30 years of finance, real estate, and community development expertise and a strong commitment to affordable housing. The post Priscilla Almodovar to Serve as Fannie Mae CEO appeared first on DSNews.

Finance 195