Housing Wire

AUGUST 31, 2020

According to Census data, approximately 21% of renter households are behind on rent payment, and it’s estimated that up to 40 million renters could face eviction over the next few months after federal eviction moratoriums expired in late July. Now, states and localities are deciding if and when to end or extend eviction moratoriums. Today, eviction moratoriums are expiring in Atlanta and Pennsylvania.

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Mortgage Real Estate 545

Miller Samuel

AUGUST 8, 2020

Although I've shared the following CNBC clip before, it's worth showing again given my 15-year ago hairstyle. In 2005, I was interviewed by CNBC in the midst of the Housing Bubble and said that 75% of the appraisals being done then weren't worth the paper they were written on (hey it was 2005 and they were done on paper, not pdf). They found me because I had just started my Matrix Blog because no one seemed to be listening to appraisers.

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Appraisal Valuation Business Mortgage 367

Midtown Appraisal Group

AUGUST 30, 2020

The answer is…it depends. As an appraiser, I’m often asked some version of this question: “My house is a mess and I just found out they want to send the appraiser tomorrow. Do you think it’ll make a huge difference to the appraised value?” The standard, professional answer is, of course: “No, it won’t affect […].

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Appraisal 158

Simonson Real Estate

AUGUST 24, 2020

On March 11, 2020, the World Health Organization announced COVID-19 as a global pandemic (this day also happens to be my birthday so good or bad, it’s an easy date for me to remember). Since then, market uncertainty has caused commercial investors to increasingly worry whether their commercial appraisal analyses are accurate. . At Simonson Appraisals, our team works tirelessly to ensure those worries are needless.

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Lending Construction Tenants Real Estate 148

McKissock

AUGUST 14, 2020

As a real estate appraiser, there are numerous data types and sources available that you could use to solve a specific appraisal problem. In order to reasonably believe that a source is reliable, it is recommended that you assess the dependability of a data source based on the following three characteristics, at a minimum. FREE Webinar: Join us Wednesday, August 26, 2020 for a live Pro-Series webinar, “The Data Puzzle: Pulling It All Together.

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Modernization Appraisal Renovations Real Estate 100

Appraisal Hub

AUGUST 21, 2020

Do you own a luxury property in Toronto? Getting it appraised is one of the important things you need to do on a regular basis. A professional appraisal can give you an unbiased opinion of your home’s value, which can be especially useful if you are planning to sell it soon, if you want to refinance your mortgage, or simply want to update your statement of assets.

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Appraisal Luxury Properties Property Appraisal Real Estate 78

Miller Samuel

AUGUST 8, 2020

Yesterday's AI Public Airing Of The Sham Election Process was a dark day for the institution but a bright day for the good guys. The actual selection of Craig Steinley after he won the national nominating committees' endorsement took literally thousands of members to apply pressure to the BoD. Thankfully it worked. However, in order to enable the Board of Directors to do the right thing, they got to keep the sham petition process in place.

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Appraisal Law 360

D Fritz Appraisals

AUGUST 19, 2020

Translating into energy savings, increased property value and a reduced carbon footprint, green homes are more sought-after than ever. Now a mainstream concept, eco-friendly homes provide incredible energy savings and contribute to lowered living costs and a positive impact on the environment. Home buyers now look for smart features and eco-friendly options meant to reduce their carbon footprint, such as the new Tesla solar roof , smart thermostats, energy smart appliances and tankless hot water

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Renovations Home Improvement Technology Investing 78

Aspen Appraisal Group

AUGUST 13, 2020

At a recent edition of Ask the Appraiser Live on Facebook, Chief Appraiser, Matt Frentheway discussed the square footage vs. gross living area of a home. We thought this would be educational for many of you out there so we wanted to share this segment. For more educational videos, answers to questions, and helpful general information from some of Utah’s best appraisers, click here and join the Ask the Appraiser Group on Facebook.

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Appraisal Real Estate 78

McKissock

AUGUST 5, 2020

What ethical considerations are involved in working with FSBOs ? FSBO ethics are not included in the National Associaton of REALTORs® (NAR) Code of Ethics. However, NAR’s Field Guide to Working with FSBOs contains numerous links to help members work with FSBOs. In addition, there are many sources cited in this post that will assist you with how to ethically deal with FSBOs.

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Advertising Realtors Real Estate Agents 95

Portland Appraisal Blog

AUGUST 8, 2020

“Why is an appraiser asking me about an old comp?” In the course of my work, I have elicited that question from quite a few agents and brokers. One agent said, “I thought you guys could only use comps going back 6 months.” Another replied back to me: “Please, why you would use a comp from 2.5 years ago when there have been many[,] many sales in this development just in the last year?

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Appraisal Bracketing Lending Agents 78

Housing Wire

AUGUST 22, 2020

According to reporting by the Wall Street Journal on Saturday, the Federal Housing Finance Agency has been communicating with mortgage industry groups about delaying the implementation of a fee which would add a 0.5% surcharge to refinance mortgages sold to Fannie Mae and Freddie Mac starting Sept. 1. According to the article, the FHFA is considering a delay to the adverse market fee implementation date, but is not planning to rescind it.

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Finance Mortgage Government Marketing 545

Miller Samuel

AUGUST 19, 2020

This post previously appeared in the August 14, 2020 edition of Housing Notes. I've been writing these weekly summaries on housing topics for more than five years. To subscribe for free, you can sign up here. Then you can look forward to each issue every Friday at 2pm New York Time. The TAF decline in credibility keeps on coming. After the recent letter debacle where the Appraisal Foundation (TAF) opined falsely that Title XI did not permit the Appraisal Subcommittee (ASC) to provide oversight o

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Appraisal Government Contracts Business 221

JMV Lending

AUGUST 5, 2020

We once had clients who spent dozens (if not hundreds) of hours removing the popcorn ceilings from their $950,000 home. Because they put so much “sweat” into their equity, they were convinced that their home would appraise for substantially more when they were done. But because their neighborhood market had recently softened a bit, their […]. The post Why Appraisers Often Come In So Much Lower Than Homeowner Estimates appeared first on JVM Lending.

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Appraisal Lending Clients Marketing 78

Anthem Valuation

AUGUST 26, 2020

Whether you need an estate tax appraisal, an estate trust appraisal or a probate estate appraisal, we have the experience to help. The type of estate appraisal and the intended us will impact how an appraiser prepares an appraisal report. Estate appraisals by a licensed and experienced real estate appraiser are the most accurate and defensible way to value a property.

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Appraisal Valuation Real Estate Market Value 60

McKissock

AUGUST 7, 2020

Residential appraisers will often—if not just about always—have their work reviewed by another appraiser. Usually, this is a routine procedure that the original appraiser barely notices. Sometimes, the review appraiser will come back with requests for extra information, or doubts, that the original appraiser might find annoying. To be sure, the reviewer’s questions might sometimes seem nit-picky, and answering them can distract from other work.

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Appraisal Real Estate Property Management Training 94

REX Real Estate

AUGUST 19, 2020

REX, the real estate technology company connecting residential real estate buyers and sellers and offering the lowest transaction costs in the industry, released two new reports Wednesday analyzing housing market trends in New York and New Jersey.

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Real Estate Technology Sellers Housing Market 69

Housing Wire

AUGUST 27, 2020

Homebuyers who are juggling work and school from their home want more space, triggering an increase in the number of sales of large homes. According to Redfin , sales for large homes were up 21.2% year over year nationwide in July, compared to a 10% increase for medium-sized homes and a 2.3% increase for small homes. Redfin categorized large homes as those between 3,000 and 5,000 square feet, medium homes between 1,500 and 3,000 square feet, and small homes between 300 and 1,500 square feet.

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Contracts Design Marketing Housing Market 545

Property Metrics

AUGUST 21, 2020

There’s no doubt about it, construction lending is tough. From changing interest rates, long lead times, and freak weather events, there are a myriad of risks that can derail a project. However, from a lender’s perspective, there’s one risk that is top of mind when making a construction loan – the borrower’s ability to make their loan payments during the construction term.

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Construction Logistics Tools Lending 67

National Association of Realtors

AUGUST 13, 2020

The waiver of appraisal requirements for Federal Related Transactions under $1M for commercial real estate transactions was extended for one year throughout the state of North Dakota.

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Appraisal Real Estate 62

Listing Spark

AUGUST 28, 2020

July was yet another banner month for the real estate market across Texas. In all major markets, we are seeing record setting numbers for multiple metrics such as appreciation rates and number of closed sales. “Pent-up demand from the spring fueled housing activity across the state,” said Dr. James Gaines, chief economist for the Real Estate Center at Texas A&M University.

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Real Estate Marketing New Listings Inventory 69

McKissock

AUGUST 21, 2020

In any real estate appraisal assignment, you must use one of the two written report options outlined in USPAP: Appraisal Report or Restricted Appraisal Report. A diligent appraiser can utilize the Restricted Appraisal Report option when it makes good sense for the assignment and client. Before you take on a Restricted Appraisal Report, here are some important things to consider. 1.

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Appraisal Appraisal Process Clients Development 92

REX Real Estate

AUGUST 26, 2020

REX and Repair Pricer teaming up to deliver remote home repair estimation services to real estate clients and agents, AI technology speeds up inspection reports and estimates to 24 hours or less.

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Inspection Real Estate Clients Technology 48

Housing Wire

AUGUST 12, 2020

Mortgage applications were back up 6.8% last week, according to a report from the Mortgage Bankers Association , further evidence that, thanks to the pandemic, August is the new May for home-buying. Consumers responded to mortgage rates that fell to new low last week , with the refinance index jumping 9% from the previous week to its highest level since April, said Joel Kan, MBA’s associate vice president of economic and industry forecasting.

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Mortgage Contracts Inventory Marketing 545

Property Metrics

AUGUST 13, 2020

Every investment involves a certain amount of risk. There are certain general sources of risk that influence all assets – things like geopolitical risk and global macroeconomic risk. What makes each asset unique is the level of sensitivity that its rate of return has to those risks. In addition, specific types of assets have risks that are uniquely their own.

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Real Estate Tenants Investing Construction 53

National Association of Realtors

AUGUST 6, 2020

This year’s summit was precipitated by recent research suggesting home valuation processes could be influencing the wealth gap between White and Black households in America.

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Appraisal Valuation 45

Miller Samuel

AUGUST 19, 2020

This post previously appeared in the August 14, 2020 edition of Housing Notes. I've been writing these weekly summaries on housing topics for more than five years. To subscribe for free, you can sign up here. Then you can look forward to each issue every Friday at 2pm New York Time. The New York Times created a terrific graphic on our Elliman New Signed Contract Report by illustrating the performance of Manhattan and Brooklyn versus Westchester County.

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Contracts Marketing Real Estate 300

McKissock

AUGUST 17, 2020

“Lead generation is half of the job of any real estate agent,” says national real estate coach Sherri Johnson. So many agents want to know, “How do I get leads?” We sat down with Sherri to get her expert advice on how to find quality real estate leads, and how to convert those leads once you have them. Click the video below to watch this helpful interview.

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Real Estate Real Estate Agent Buyers Agents 90

REX Real Estate

AUGUST 28, 2020

Decorating any room in your home can have its challenges, especially when you’re dealing…

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Decorating Design 67

Housing Wire

AUGUST 11, 2020

August is upon us, and the growth in the rate of new infections appears to be slowing. Vaccine development is progressing with some promising early results. The time has come to start thinking about what life will be like on the other side of this crisis. What can we expect post COVID-19? Logan Mohtashami Lead Analyst. Some things will not have changed.

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Development Housing Market Marketing Mortgage 545

Boston Appraisal

AUGUST 4, 2020

Receiving a copy of a residential real estate appraisal report can be a little intimidating. It may seem like a lot of money for such a such a short report. But that is hardly the case. That appraisal report you are holding tells you so much more than a simple property value. We’re going to examine, in detail, the standard form appraisal report that is most commonly used for residential appraisals.

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Appraisal Real Estate Valuation Market Value 148

National Association of Realtors

AUGUST 10, 2020

The NAR Appraisal Summit: Fair Housing Issues in Real Estate Appraisal took place on August 5, 2020 from 4:00pm to 5:00pm EDT. Watch the recording.

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Real Estate Appraisal 39

Annarbor Appraisal

AUGUST 14, 2020

We are so often bullish about our market, but is it as “hot” as news outlets like to believe? We certainly have a shortage of inventory, which does create pressure on acting quickly and agressively on well priced houses that are in “show-ready” condition. That does not mean that prices are rising exponentially, or even that much at all? Simple example is taking all sales of single-family houses that are already built, not new construction or “to be built”, and arrying on a monthly basis.

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Marketing Inventory Tenants Construction 78

McKissock

AUGUST 4, 2020

What types of clients do property appraisers serve? Do most of their assignments come from lenders vs. non-lenders? To help answer these questions, we recently asked our real estate appraisal community, “What type of appraisal client makes up the majority of your client base?” While most appraisers said that the majority of their work comes from lenders (most often through AMCs), some said the bulk of their client base is made up of other types of appraisal clients, such as attorneys or private

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Clients Appraisal Government Property Appraisal 87