Sat.Apr 24, 2021 - Fri.Apr 30, 2021

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Scottsdale housing market: Not just for snowbirds anymore

Housing Wire

Historically, retirees have always put Scottsdale high on their list of destinations when looking to take advantage of lower home prices, larger lots, agreeable weather and low cost of living. But the Scottsdale housing market, and Arizona as a whole, has seen an enormous uptick in out-of-state movers in the past 14 months — when the COVID-19 pandemic began spreading across the country, ultimately allowing people to work from home and seek larger, more cost-effective lots to live on.

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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.

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Mortgage rates are too low (and they need to go up)

Sacramento Appraisal Blog

There are certain things that are just true. Spandex bodysuits shouldn’t be worn by most people. Mullets probably shouldn’t come back in style. And mortgage rates right now are just too low. The truth: Mortgage rates this low have helped create a chaotic housing market and they need to go up. I tweeted this yesterday […].

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Tips for Increasing Your Home’s Value Without Spending a Fortune

Cleveland Appraisal Blog

Hello! I hope that you are enjoying the warmer weather! With the spring selling season upon us, my volume of work has been very high. So, I am grateful for guest bloggers who provide me with some great articles to share with you. I hope you’ve been enjoying them. I have one more this week. Welcome to Emily Miller , who wrote this piece for the Cleveland Appraisal Blog.

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This isn’t a housing bubble — and that’s the problem

Housing Wire

Last year, during the throes of COVID-19, I expended many words arguing that the U.S. economy would be OK despite the dark period we were in. We just needed patience. We aren’t in a housing bubble. Today we are enjoying the most remarkable comeback of the U.S. economy, which almost no one saw coming. The America is Back Economic Model and the 10-year yield should share the Oscar for best performance.

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Does USPAP Condone Bias?

George Dell

USPAP (Uniform Standards of Professional Appraisal Practice) ethics rule specifically states that “An appraiser must not perform an assignment with bias.” It defines Bias as “a preference or inclination that precludes an appraiser’s impartiality, independence, or objectivity in an assignment.” As we noted in a prior Analogue Blog, there are two types of bias: personal […].

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How to Become a Columbus Property Manager… and Earn $99,867! [2021]

The Robert Weiler Company

Here in Ohio, the number of property management professionals is increasing – and with good reason. The median annual salary for a Columbus property manager, for instance, is $99,867, according to Salary.com as of April 27, 2021. And that amount is not even including bonus, commission, and benefits, as well as other factors that impact base pay. Now, also factor in great market access, the standard of living, and valuable tax climate; you can easily see why individuals seek out Columbus, Ohio as

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Community, building equity important for young homebuyers

Housing Wire

A homebuyer report from Bank of America shows that 51% of young homebuyers aged 18 to 43 value community and friendly neighbors when deciding whether or not to pull the trigger on a new home. Also in the survey, which polled 2,000 adult homeowners and prospective homebuyers, just 33% of older generations (defined as ages 57 to 75) said community had become more important over the past year. “Along with a desire for more space and smart home technology, individuals are looking for a sense o

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The Loan Officer’s Guide to Appraisals Part 5:  What is bracketing and why do we do it?

Riverfront Appraisals

Right now on our Appraisal Blog, we’re all about helping Loan Officers. This post is part five of a 12-part series we’re calling The Loan Officer’s Guide to Appraisals. So far in our series, we’ve looked at final inspections, lending on unique homes, communication with the appraiser, and reconsiderations of value. So if this is […]. The post The Loan Officer’s Guide to Appraisals Part 5: What is bracketing and why do we do it?

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Top Fields and Features to Add to Your Digital Field Service Forms

GoForrmz

Digitizing your digital forms for use on phones, tablets, and computers allows your team to work faster and more accurately, even while offline in remote areas Digital forms present field service teams with countless opportunities to streamline their field-to-office workflows and accelerate critical daily processes (like job site inspections, customer communication, billing and payroll, and so much more).

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Becoming Indistractable

DataMaster

Book Recommendation – Indistractable by Nir Eyal Most appraisers are on the road a lot. I understand the need to stay engaged while driving. My go-to in my car is to listen to podcasts and audiobooks. (Along with the occasional baseball game if I can find one.) A few weeks ago, I came across Indistractable by Nir Eyal. It’s a book with practical tips on how to be more present.

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Home sale prices reach record highs — again

Housing Wire

The effects of low housing inventory continue to cause significant ripples in the housing market, as a recent Redfin report shows home sale prices across the country have reached an average of $344,625 — an all-time high, and an 18% increase year over year. That’s well above the average home sale prices in Redfin’s March report , at the time a record high of $331,590.

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The Best Overall State? Fla. Moved Up to No. 10 This Year

Empire Appraisal Group

The Best Overall State? Fla. Moved Up to No. 10 This Year. Source: The Best Overall State? Fla. Moved Up to No. 10 This Year | Florida Realtors. By Chris Perkins. U.S. News & World Report ranked Fla. No. 10 this year as overall best state, up from 13 last year. Created via a survey of residents, the list covers 8 categories. MIAMI – The Sunshine State – with its dazzling beaches, exciting nightlife and picture-perfect weather – is shining bright in a new annual survey.

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Top Interview Questions to Ask Real Estate Agents

McKissock

Bringing a new real estate agent into your brokerage or onto your team requires a commitment of time, resources, and energy. It’s important to know that the agent you choose is up for the challenges ahead and ready to hit the ground running without a lot of handholding and babysitting. These ten interview questions should give you a good sense of where agents are in their professional journeys and whether or not they’re a good fit for your organization. #1: What markets are you currently serving

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Becoming Indistractable

DataMaster

Book Recommendation – Indistractable by Nir Eyal. Most appraisers are on the road a lot. I understand the need to stay engaged while driving. My go-to in my car is to listen to podcasts and audiobooks. (Along with the occasional baseball game if I can find one.). A few weeks ago, I came across Indistractable by Nir Eyal. It’s a book with practical tips on how to be more present.

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The future of U.S. real estate commissions

Housing Wire

Glenn Kelman, CEO of Redfin, and Luke Babich, chief operating officer of Clever (left to right). This is the final of a three part series on residential real estate sales commissions. Part one explained the history of sales commissions , and the labor market for real estate agents. Part two dove into legal challenges of the present commission system, and the industry’s defense of commissions at the present level of 5% a home sale.

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Living in Knightdale, NC: 11 Tips Before Moving to Knightdale

Raleigh Realty

Living in Knightdale, NC Moving to Knightdale NC? 11 Things to Know Before you do Take a trip about 8 minutes from downtown Raleigh and head east towards the crossroads of I-540 and U.S. 264. Situated there is the upbeat and energetic town of Knightdale. The benefits of living in Knightdale extend far beyond the affordability of the homes for sale and we are going to break down all the pros and cons in this article Knightdale has a long history dating back almost to the 1700s.

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5 Ways Digital Forms Can Improve Your Field Service Workflow

GoForrmz

Easily optimize your field service workflows with digital forms and fully functional offline data capture When working in the field service industry, teams are often fractured across a variety of office locations, job sites, or remote mobile teams, making it difficult to improve collaboration and communication. These obstacles are often exacerbated by frustrating manual tools, like paper forms, printing, and record-keeping supplies, and the cumbersome workflows that accompany them, including: Pr

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Becoming Indistractable

DataMaster

Nir Eyal – Indistractable [link]. Book Recommendation – Indistractable by Nir Eyal. Most appraisers are on the road a lot. I understand the need to stay engaged while driving. My go-to in my car is to listen to podcasts and audiobooks. (Along with the occasional baseball game if I can find one.). A few weeks ago, I came across Indistractable by Nir Eyal.

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Fraud risk factors at closing increased almost 90% last quarter

Housing Wire

As housing professionals navigate regulatory changes and accelerated tech adoption, wire and title fraud risk factors in mortgage and real estate closings increased almost 90% in the last quarter. According to an analysis by MISMO-certified wire and title fraud prevention Fintech FundingShield, wire and title fraud risk factors in mortgage and real estate closings saw an increase of 87.79% overall across all transaction types in Q1 2021.

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Nations Lending continues to build its team

Valuation Review

Nations Lending continued to add to its leadership team with the recent hiring of Randy Koerner, who will play a direct role in building sales as well as supporting the company’s branch development and sales growth. Read on to learn more.

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Evaluating Data Reliability in Hybrid Appraisal Assignments

McKissock

In completing bifurcated and hybrid appraisals , you must reasonably believe that information relied upon—from a third-party inspector or another data source—is reliable. You, the appraiser, should have a process for evaluating data reliability by asking the following questions: Who collected the data? Is the data source unbiased and objective? Does the data source have a reputation of trustworthiness and accuracy?

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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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Your home appraisal came in lower than your offer – Now what?

Housing Wire

In today’s booming housing market, sellers have their pick of home offers. According to a study by Realtor.com , the median home listing price is up 15.6% compared to last year. Now, more than ever, sellers have a chance to get more money for their homes. And while this is great for sellers, it leaves buyers asking: “How can I stand out in such a competitive market?

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Drone experts outline specifics during webinar

Valuation Review

Drone usage continues to be a topic that appraisers just can’t seem to get enough of. In the October Research, LLC webinar “Drones: Do’s and Don’ts,” hosted by Valuation Review, panelists Scott Anderson, a commercial real estate appraiser working for the United States Department of Agriculture - Farm Services Agency, and Vic Moss, who is the chief operating officer and vice-president of Drone Service Providers Alliance (DSPA), provided many tips concerning utilizing drones for appraisal assignme

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Arm’s Length or Another Type of Sale? The 7 Sale Types Explained

McKissock

As a real estate appraiser, whether you’re considering the current terms of sale or analyzing previous sales of the subject property or comparable sales, it is imperative to know whether a sale is an arms-length transaction or a different type of sale. Sales due to a job relocation, estate settlement, foreclosure, or divorce may sell for less than the property’s market value.

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Cold Storage: The Next Red-Hot Real Estate Market?

BiggerPockets

Great investors identify big-picture trends taking place and use them as a tailwind. This strategy allows you to really win big if you get the asset and execution right—and also limit your downside as a rising tide lifts all boats.

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Pending home sales rebound in March

Housing Wire

The National Association of Realtors released encouraging news Thursday about the future of the housing market. The trade group reported that pending home sales – that is homes where a buyer signed a contract, but the sale has not closed – rose 1.9 % index points to 111.3 in March, after two consecutive months of decline. Though homes in contract are not always closed, the index figure is a strong indication that home sales will rebound in the coming months after an inventory-induced decline.

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CoreLogic: National delinquency rate lowest in 12 months

Valuation Review

The CoreLogic Loan Performance Insights report indicates the national delinquency rate is the lowest since the start of the pandemic. Where do the numbers come in this month? Read on for more and hear comments from CoreLogic executives.

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How Real Estate Agents Can Help Home Buyers Navigate Emotional Decisions

McKissock

Buying a home can be extremely stressful. For one thing, it’s a huge expense. Plus, in some cases, it’s a once-in-a-lifetime decision. And, of course, settling on a permanent property can be a choice fraught with emotion. . It makes sense, but it can make the real estate process even tougher for buyers. That means it’s often the real estate agent’s job to ease their minds and lighten the situation.

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BiggerPockets Business Podcast 105: The MOST Profitable Skill to Learn (From a $200M+ VC Investor) with Codie Sanchez

BiggerPockets

Successful business owners are addicted to building businesses, sometimes to their folly. For someone like Codie Sanchez, this isn’t a problem, but a superpower. Codie is a journalist, a venture […].

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A look at Biden’s first 100 days and his impact on housing

Housing Wire

With Friday marking 100 days since President Joe Biden took office, HousingWire reviewed the actions he’s taken on housing during that time — including yesterday’s announcement of a $1.8 trillion spending plan that would eliminate a “special real estate tax break” for certain investors. As a candidate, Biden proposed a $600 billion housing plan aimed at improving affordability, ending discrimination, protecting consumers and improving energy efficiency.

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House approves real estate valuation bill

Valuation Review

The House Financial Services Committee approved HR 2553, the Real Estate Valuation Fairness and Improvement Act. This bill would establish an interagency taskforce to analyze federal collateral underwriting standards and guidance and provide resources for promoting diversity within the valuation profession. Read on for more information and learn what the Appraisal Institute said in a letter to the Senate and Sen.

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The Necessity of a Commercial Engagement Letter

Dart Appraisal

THE NECESSITY OF A COMMERCIAL ENGAGEMENT LETTER. A commercial engagement letter is a written agreement to perform services in exchange for compensation. Engagement letters are traditionally used by certain professional service firms, particularly in finance, accounting, law, real estate appraisal, and consulting, to define the specifics of the business relationship, or in the case of an appraisal – the assignment expectations.