April, 2022

Send Us Your Crazy Appraisal Stories!

Appraisal Buzz

This article was first published in the Appraisal Buzz Magazine. If you have shared a story with us in the past that was never published, please resend it. Your story could be one of the best this time around! Send your stories to comments@appraisalbuzz.com.

Is Your “Crazy” Neighbor Lowering Your Home’s Value?

Cleveland Appraisal Blog

It’s tax appeal season and I’ve had several homeowners say that they feel their neighbors are negatively impacting the value of their home for different reasons. Is that the case? Can that be the case? Let’s talk about it. The homeowners of one property stated that their neighbors are a nuisance.

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A shift in demand in the housing market

Sacramento Appraisal Blog

Do you feel that? It’s change. The housing market is still elevated, but there’s no mistaking a different temperature – especially over the past week. STUFF ON MY MIND: This is designed to scroll quickly or digest slowly. The goal is to highlight stats and things I’m watching.

Bias: Blame the Messenger?

George Dell

The messenger. Psychology research easily points out our tendency to dislike the bearer of bad news. It’s also intuitive. Bad news messengers do not smile when they bring the news. Sometimes they even look guilty. We humans can be really basic.

The VA’s little-known program for Native American veterans

Housing Wire

A Department of Veterans Affairs lending program for Native American veterans has been severely underutilized, a government watchdog found.

Elliman Magazine Column - A Symptom of Chronic Inventory Lows: Bidding Wars Are Everywhere

Miller Samuel

For each issue of Elliman Magazine produced by Douglas Elliman , the same company that publishes most of our U.S. market research , I write a brief column and create a graphic to illustrate an important issue facing the luxury housing market.

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Creating the Perfect Home Office in a Small Living Space

Cleveland Appraisal Blog

Hello! I hope you are hanging in there in these crazy times! This time of year I often have a lot of tax appeal work which keeps me crazy busy in March. As you might imagine, increases in home prices mean increases in property assessed values.

Scott Peterson’s house & raging price growth

Sacramento Appraisal Blog

I have two things on my mind today. Scott Peterson’s house hit the market. And price growth has been raging so far in 2022. Let’s talk about this. Think Like an Appraiser Class: I’m teaching my favorite class on April 28 from 9am-12pm.

When Doing a Job Right Doesn’t Mean Doing it Yourself

The Appraiser Coach

One Saturday morning, I found myself in front of the computer, punching numbers. While I was sitting there, staring at my screen, willing this task to end, I had a. Read More.

What Metaverse real estate means for mortgage professionals

Housing Wire

The Metaverse is defined as the simulated digital world that mimics the real world through virtual reality and augmented reality in which users can interact. As the Metaverse expands, its offerings now include “virtual” real estate.

Do We Need a Neighborhood Section? Part II

George Dell

The current residential form (the URAR) neighborhood section is well designed – for data the way it was 40 years ago, filled in on a typewriter, with no software ability to summarize, graph, or map data. Do We Need a Neighborhood Section? Part I is here.

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The Old Lady Who Lived in a Shoe… and Needed an Appraisal

Appraisal Buzz

The post The Old Lady Who Lived in a Shoe… and Needed an Appraisal appeared first on Appraisal Buzz. Buzztoons

Building Materials Prices Rise Further

Eyes on Housing

According to the latest Producer Price Index (PPI) report released today by the Bureau of Labor Statistics, the prices of goods used in residential construction ex-energy (not seasonally adjusted) climbed 1.4% in March, following an upwardly revised increase of 2.2% in February and 4.1% in January.

That one super skinny house (eight feet wide)

Sacramento Appraisal Blog

Could you live in a tiny home? Or what about a skinny home? I’m talking where walls range anywhere from eight feet to twelve feet wide at their maximum. Well, let’s talk about a super thin unit that sold recently in Sacramento.

Time to Break Out the Saddle!

The Appraiser Coach

Let’s talk about ponies. No, not the hairy little animals that run around your yard and play with your kids. This pony is an acronym, spelled POINII. You’ve heard me. Read More.

Some lenders won’t survive the purchase mortgage market of 2022

Housing Wire

Consolidation in the mortgage industry is likely in 2022, analysts and lending executives said. Justin Woodward has experienced the best and the worst of the mortgage industry in only 18 months.

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Do We Need a Neighborhood Section?

George Dell

Traditional appraisal says we should describe and analyze the subject neighborhood. In residential form reports, there is a section devoted to the neighborhood. In general narrative reports, there is a section devoted to the neighborhood.

Home Value Forecast Predicts Slowdown in Growth

Appraisal Buzz

Rapidly rising mortgage rates are worsening affordability challenges that have been brought on by record home value growth. According to the March Zillow Real Estate Market Report, monthly mortgage payments on the typical U.S. home are 19.5%

Housing Market at Inflection Point as Builder Confidence Continues to Fall

Eyes on Housing

Rapidly rising interest rates combined with ongoing home price increases and higher construction costs continue to take a toll on builder confidence and housing affordability.

The housing market temperature has changed

Sacramento Appraisal Blog

Do you feel it? The temperature of the housing market has started to change. Let’s talk about what’s going on, and what this means and doesn’t mean. I’d love to hear your take in the comments.

Caution Where Needed

The Appraiser Coach

Toward the beginning of the Covid-19 pandemic, I heard a lot of people who said something like, “Dustin, I think that there’s going to be a lot more flexibility because. Read More.

FHA unveils 40-year loan modification option

Housing Wire

The Federal Housing Administration (FHA) is moving to expand its COVID-19 loss mitigation “waterfall” by introducing a 40-year loan modification option and is asking the mortgage industry for input.

What Is EBV?

George Dell

EBV measures markets, rather than compares comps. In the traditional appraisal process, the appraiser ‘picks some comps’, then adjusts any differences in each comparable to the subject feature.

Housing Inventory Down 22% From Last Year

Appraisal Buzz

Rapidly rising mortgage rates are worsening affordability challenges that have been brought on by record home value growth. According to the March Zillow Real Estate Market Report, monthly mortgage payments on the typical U.S. home are 19.5%

Highest Paid Occupations in Construction in 2021

Eyes on Housing

According to the latest May 2021 Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS) and analysis by the National Association of Home Builders (NAHB), half of payroll workers in construction earn more than $49,070 and the top 25% make at least $75,820.

8 Sustainability Trends Driving Commercial Real Estate for Earth Day 2022

The Robert Weiler Company

Over half a century ago, the United States inaugurated a special day, April 22, as Earth Day. As we prepare to commemorate the global phenomenon, The Robert Weiler Company is excited to announce that the green movement is alive and well in the commercial real estate industry.

Dad’s Words of Wisdom

The Appraiser Coach

Something I’ve noticed over the years is that, in moments when I least expect it, I open my mouth and my father comes out. Just like each of us does, Read More.

Mortgage applications continue fall amid 5% rate

Housing Wire

Mortgage application volume dropped 1.3% for the week ending on April 8, from the previous week, as mortgage rates eclipsed the 5% mark. Refinance applications fell 5% from the prior week and 62% from the same week a year ago, according to the Mortgage Bankers Association ‘s weekly survey.

April Newsletter-Markets Still Flying

DW Slater Company

Azalea District, Tyler, TX. Winter’s done, and April’s in the skies, Earth, look up with laughter in your eyes!” Charles G. Roberts. It has been an unusual April in North Texas this year and one of the windiest on record!

Wells Fargo Commits $210M to Advance Racial Equity

Appraisal Buzz

Systemic inequities in the United States have prevented too many minority families from achieving their homeownership and wealth building goals for too long.

Inflation Hits Another New 40-Year High in March

Eyes on Housing

Driven by higher food, gasoline and housing cost, consumer prices continued to accelerate in March. This marked the sixth straight month for inflation above a 6% rate and was the fastest annual pace since December 1981.

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The Realtor’s Guide to Appraisals Part 5: Tips on Communicating with the Appraiser

Riverfront Appraisals

When’s the last time you picked up the phone and called an appraiser? Maybe you had a question about how to adjust for an inground pool. Maybe you had a problem and the home didn’t appraise at the sale price. Do you ever communicate with the appraiser?

GoFormz Celebrates Earth Day 2022

GoForrmz

This Earth Day 2022, we are incredibly proud of our paperless customers working towards a greener workplace As we observe another Earth Day, here at GoFormz we celebrate by recognizing all of our customers that have taken incredible strides in their paperless initiatives.

Why housing inventory is so low right now

Housing Wire

Given the current housing inventory crisis, it might surprise people to realize this: we built too many homes during the housing bubble years. Wait, what? But we have a housing shortage, right?