2018

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Remember liar loans of a decade ago? Those same people want to do away with appraisers.

Miller Samuel

My friend and appraisal colleague Ryan Lundquist and I authored a petition on change.org to point out the growing wreckless behavior that is enveloping the mortgage process. There’s a proposal from the FDIC, Federal Reserve, and Treasury Department not to require appraisals for some mortgages under $400,000. As we say in the petition , this change can impact several groups in particular: consumers, the taxpayers, the housing market and appraisers.

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4 Things I Wish I’d Known Before I Got an FHA Loan

Realtor

Michail_Petrov-96/iStock A few years back, my husband and I got an FHA loan. At the time, we were growing out of our two-bedroom, 850-square-foot rental in St. Petersburg, FL. We had one child, one cat, and lots of stuff. In short, it was time to move. We didn’t think we were ready to buy, but a friend (it always starts with a friend, doesn’t it?

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Using the R Programming Language to Produce Correlation Matrices & Correlograms for Residential Appraisal Reports

Portland Appraisal Blog

As I mention in the bio for this blog, one of the most influential individuals in my professional development as an appraiser is George Dell. He is a nationally recognized valuation expert who teaches a method he calls “ Evidence Based Valuation ©.” (If you’ve never taken a class from George, stop reading this blog post, go to his website , register for one of his classes— oh, it’s on the other side of the country?

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How to Maximize Appraisal Underwriting Approvals in Rural Markets

Genworth MI Blog

Relax, underwriters, it’s just rural. This story first appeared in HousingWire. Recently, the rural housing landscape has sparked discussion about its lending, affordable housing availability, housing shortages and outreach to underserved demographics. A spotlight has been cast on the rural space with questions probing why rural properties often face excessive underwriting conditions for appraisal issues and how rural lending can be increased to differentiate an organization.

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Fannie Mae Changes 2018

Robinson Appraisal Group

The one thing that always remains constant is change. As appraisers in this ever changing industry we have seen changes in the market, technology, bank requirements, emergence of management companies and appraisal form changes. The most recent Fannie Mae change is the removal of the 1004MC form in an appraisal. This form has been a requirement since 2009 as a tool to establish the increase, decrease or stabilization of markets in the aftermath of the housing crisis occurring between 2007 –

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Home Appraisal vs. Home Inspection

CP Home Appraisals

Isn’t a home inspection similar to a home appraisal? Not at all – an appraisal differs from a house inspection. A home inspector’s function is to study the structural, electrical, mechanical & plumbing in a home and document any problems or safety issues. Although the home appraiser will complete a rudimentary inspection of the subject property, it will be nowhere near as thorough as what a property inspector does.

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What makes a sale a comparable sale?

Padove Appraisal Service

Many are familiar with the use of comparable sales, or “comps” in residential real estate appraisals. In this blog entry, I will explain how this technique is used. A discussion of comparable sales begins with an explanation of why this approach is used in the valuation of real estate. Comparable sales reflect actual market reaction to similar residences, offering insight into anticipated market reaction to the property being appraised.

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When Is The Best Time To Sell?

Anthem Valuation

New research suggests that for the country as a whole May, June, July are the best times to sell with an overall 6% increase in May for estimated market value. However, in the Twin Cities Metro the best month to sell is June with a increase of 3.1 % in value. [link]. The post When Is The Best Time To Sell? appeared first on Anthem Valuation Blog.

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Minnesota Real Estate Services Metro Service Area

MN Real Estate Services

Commercial Real Estate Appraisal Services. Minnesota Real Estate Appraisal Services provides Commercial Real Estate Appraisal Services Throughout the bulk of the state of Minnesota. However, we do most of our work nearby in the Minneapolis St Paul Metro area as depicted on the map below. The post Minnesota Real Estate Services Metro Service Area appeared first on Minnesota Real Estate Appraisal Services LLC.

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How to Measure Your Home's Square Footage

Zillow

Like most aspects of owning or purchasing a house, measuring the square footage of a home is complicated. There’s no established standard for measuring a residential property, and everyone seems to measure square footage differently. But if you get it wrong, it can affect your home’s value. There’s no need to be nervous about calculating your home’s square footage, however.

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Yahoo Finance TV 12-4-2018 - Toll Brothers & Banking Conditions in Real Estate

Miller Samuel

I was invited by Julie Hyman at Yahoo Finance TV for a discussion on the weakening luxury housing market and some other topics of interest. I've known her for years, after a long run at Bloomberg TV, and am excited about her new opportunity at Yahoo. When I arrived at the studio, the stock market was being battered (down by over 400 points at the time of this broadcast) by the conflicting interpretations of the recent US/China tariff talks and the results Toll Brothers analyst call.

Finance 221
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How to Buy a Home From a Family Member Without the Risk of a Huge Feud

Realtor

pepifoto/iStock; realtor.com Buying a home is hard, but if you want to learn how to buy a home from a family member, you’re entering truly treacherous territory. Because, let’s face it, we’ve all been to family dinners where a seemingly benign issue can instantly turn into a blood feud. And when it comes to real estate—usually the largest asset most people have—there’s a lot at stake financially.

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Sidestepping the Appraisal and Appraisal Waivers.

Advanced Appraisal

Chicago and South Suburban Appraisal Blog

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How to Maximize Appraisal Underwriting Approvals in Rural Markets

Genworth MI Blog

Relax, underwriters, it’s just rural. This story first appeared in HousingWire. Recently, the rural housing landscape has sparked discussion about its lending, affordable housing availability, housing shortages and outreach to underserved demographics. A spotlight has been cast on the rural space with questions probing why rural properties often face excessive underwriting conditions for appraisal issues and how rural lending can be increased to differentiate an organization.

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An Estate Sale Appraisal Process

Robinson Appraisal Group

An Estate Sale Appraisal Process. After 25 years of handling estate sale appraisal in the Baltimore Metropolitan area I have seen my fair share of estate sales. But what is an estate sale? An estate sale means a person has died and the party/parties that inherited the property are selling it. Estate properties usually are priced well to reflect that fact that they need work.

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Expectations for future house flipping returns

Patch of Land

First, the good news for house flipping: Average gross profits have risen steadily over the last few years. As the 2018 house flipping report from research firm ATTOM Data Solutions shows, completed house flips in 2017 yielded an average gross profit of $68,143, representing a 49.8% return on investment. Gross profit is defined here as the difference between purchase price and flip price, not accounting for expenses incurred.

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Closed for business! Sorry Folk

The People's Appraisal Blog

It feels good to be back. Thanks for all for waiting. For those who aren’t familiar with what an AMC is, its short for Appraisal Management Company. After the 2008 crash they were installed to be the order manager for the lender and ensure appraiser independence. If you’ve already read “what’s not in your wallet or round and round” go get a little more familiar before reading this.

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Home Improvements: What counts towards the appraisal?

Padove Appraisal Service

I am often asked which home improvements “count” towards the appraised value of a house. This is never an easy question. Many people envision a list of improved items with predetermined relevancy, along with a specific dollar value assigned to each of those items. I will explain in this blog entry why that is not feasible, or reliable approach. There are many items that comprise the totality of a house.

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The Importance of Knowing Your Home’s Worth Before Selling It

Texas Home Appraisal Blog

The Cost of Getting your Home Ready for Sale Making arrangements for the sale of your house will normally cost between a few hundred dollars on the lower side and a few thousand dollars on the upper side. Let us assume that you’ve decided to sell your home FSBO, so you are doing this without the help of a realtor. The first thing you’ll start with to get your property ready is obviously cleaning and.

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Natural Disasters and the Appraisal Industry: What to Expect

ACT Appraisal

Natural disasters, like hurricanes, wildfires, and tornados, can have a huge impact on the appraisal industry. For residential appraisers, the work can increase shortly after a natural disaster, whereas, for commercial appraisers, the work may decrease as business transactions dip as people focus on their homes. What are Disaster Inspections? Post-disaster inspection reports and appraisals are critical for homeowners, lenders, and insurance companies.

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6 Smart Ways to Build Home Equity

Zillow

Home equity is the percentage of your home's value that you own, and it's key to building wealth through homeownership. Let's take a closer look at how to build home equity without blowing your budget - and how to access it when you need it. How much equity do you have? Equity is easy to calculate when you first buy a home because it's basically your down payment.

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Bloomberg Markets TV: September 11, 2018, Looking back at 9/11 and the Financial Crisis

Miller Samuel

I had a nice reflective discussion with Scarlet Fu and Caroline Hyde, reflecting on two milestones in New York City - 9/11 and the financial crisis. Miller Samuel CEO Says Credit Conditions Haven't Normalized Since Lehman. September 11th, 2018, 3:48 PM EDT. Jonathan Miller, president and chief executive officer of Miller Samuel Inc., takes a look at the state of the U.S. housing market 10 years after the financial crisis of 2008.

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How to Sell Your Parents’ House With Your Siblings’ Help—and Avoid a Family Feud

Realtor

Jens Magnusson/Getty Images When your parents pass away, you might find yourself tasked with selling their house—and if you have siblings, hopefully they will offer help on this front. Problem is, in the same way you all squabbled over who had the better bedroom or more toys growing up, you may find yourself embroiled in a whole new kind of family feud as you attempt to unload this baggage-laden piece of real estate.

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If you trust in Zillow, then you must still believe in Santa!

Advanced Appraisal

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Homeowner Valuation Appraisals

McCarthy Appraisal Blog

Homeowner Valuation Appraisals. Today’s market can be challenging. Whether you choose to sell your home on your own or use the assistance of a real estate agent, a professional appraisal from McCarthy Appraisal Services can help you make a better educated decision when determining your selling price. It’s difficult to sift through all of the market data to determine a true value for your home.

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Interest rates are the highest in the past 7 years!!!

Robinson Appraisal Group

Interest rates for buyers with good credit or credit worthiness for a 30 year loan is approximately 4.875% while average buyers fall around 5%. A hike in rates have been talked about since last year with minimal increases until recently. Mortgage rates started around 4% at the beginning of 2018 and have seen a steady increase. With the positive retail sales data and the rising home costs due to low inventory in some of the major markets the interest rate hike is not a complete surprise.

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Patch of Land to Attend Pitbull's 47th National Hard Money Conference

Patch of Land

The Pitbull Conference is the oldest and largest organization of its kind in the country: educating brokers, lenders, and investors as to the emerging opportunities that exist in hard money lending. Their success can be attributed to their track record of consistently producing quality events for industry professionals to network and grow their businesses.

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Don’t Sign a Contract With a Builder Until You’ve Done These 5 Things!

Hood Homes Blog

Updated 9/21/18; Originally published 2/7/16. It’s awesome! Your dream home. You’ve gone to a few builder model homes in Killeen , Harker Heights , and Copperas Cove , and this is The One. You’re excited. Your spouse is ecstatic. You’re already picking out the floors, paint, brick and browsing furniture at Ikea. The builder’s rep already preapproved you with their lender and has a contract out ready for you to sign.

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Encroaching Wildlife in Urban Areas

The Colorado Real Estate Blog

Real estate ownership in Colorado is booming, and while that’s great for the economy, it also means real estate development is encroaching on previously wild lands. While building disrupts animal habitat, many species are thriving in urban and suburban areas.

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PRESSURE: MY STORY

The People's Appraisal Blog

In just 16 years as an appraiser, I’ve seen and heard many things. Some, I just want to forget and some I wish I never heard. Appraiser pressures aren’t normal everyday life pressures, they’re different.Typically, when business is good, it’s for reasons like doing a great job and providing a great service. Or, it could be because one aims to keep the client happy by hitting value, which is not exactly a good thing.

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Have You Had Your Property Appraised?

Aedis Appraisals

If you are a property owner, you may be used to having a lending institution order an appraisal of your home. However, you may also want to consider having your property appraised independently. An appraisal is defined as an inspection that gives an estimate of a property’s value. A mortgage lender requires that an appraisal be made to confirm the value of a house used for collateral, so an appraisal must be undertaken in order to issue a loan.

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7 Qualities of a Good Neighbor

Zillow

If you want good neighbors, you'll first have to become one yourself. Master these seven techniques, and even you (yes, you!) can win the approval of your entire neighborhood. 1. Good neighbors bring cookies. Whether you're new in town or haven't kept in touch, a delivery of freshly baked goods is a perfect way to break the ice and let neighbors know that you're thinking of them.

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PBS NBR CNBC Video - State of U.S. and Manhattan Luxury Market

Miller Samuel

CNBC clip. NYC luxury apartment sales drop from CNBC. PBS Nightly Business Report clip. [Story with 2 clips begins at 18:20]. CNBC's Diana Olick reports on luxury home sales dropping in NYC due to tax laws and fewer international buyers. It is past the middle of August so it was odd to see that the Wall Street Journal ran a story that covered a new "half-year" report by a brokerage firm on the Manhattan luxury market from January 2018 to June 2018.

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Fewer Homes May Require Human Appraisals, but That May Not Be a Good Thing

Realtor

istock/cnythzl A new proposal to reduce the number of homes requiring in-person appraisals could save home buyers and those attempting to refinance hundreds of dollars, and speed up the process. This may sound like a well-timed holiday blessing, but appraisers who would be affected by the change say it could also pose all sorts of problems. The plan would require human appraisals only for purchases of homes costing $400,000 and up.