Appraisal Buzz

NOVEMBER 29, 2021

Appraisers use three different property valuation methods: (1) Sales Comparison relates the estimated value of our subject property to similar settled, active, and pending market sales. (2) 2) The Income Approach considers the present value of expected future cash flows. (3) Know what average home values are in your area. (2)

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Appraiserblogs

APRIL 23, 2024

The underwriter revealed that the tool uses a ‘Census Block Grid’ adjustment (CBG) to evaluate comparable property values. This adjustment, which modifies values based on median home values within specific census blocks, raises concerns for potentially reflecting practices akin to redlining – a discriminatory practice that.

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Housing Wire

FEBRUARY 24, 2023

For instance, in the conversation at the ASC hearing on using automated valuation models (AVMs) as a viable, non-subjective tool for understanding value accuracy during underwriting , concerns were brought up about bias being present in the data itself. Is “better” good enough as a starting point?

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Eppraisal

NOVEMBER 14, 2023

However, one aspect that often gets overlooked is what conveys with the property and how these factors can impact your home value. Stainless steel or sleek black appliances can be the crown jewel of a modern kitchen, significantly impacting your home value.

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Cleveland Appraisal Blog

OCTOBER 1, 2021

This week, I am also working on a new Home Value Stories podcast episode. When you’re downsizing your home with a pet as your roommate, your animal may experience anxiety and uncertainty during the entire moving process. I’ll be back in two weeks with a new blog that is more focused on real estate valuation.

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Cleveland Appraisal Blog

FEBRUARY 4, 2021

Though, sadly some still view these types of value outputs as reliable. So, why offer a valuation service that provides values that should not be relied upon? While these sites offer some great information, when it comes to the accuracy of home values, they are all over the place. That seems good at first. .

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Eppraisal

AUGUST 22, 2023

The world of real estate has undergone a technological transformation over the past 10 to 20 years, with Automated Valuation Models (AVMs) emerging as powerful tools for property valuation. Agents leverage Commercial AVMs to assess the value of properties with an eye on investment potential and long-term gains.

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Appraisal Today

APRIL 26, 2024

The One-Mile Rule: Prudent Policy or Modern Day Redlining? Moreover, the increasing correlation between home values and neighborhood racial composition highlights how technological tools, intended to streamline processes and improve accuracy, can inadvertently exacerbate discriminatory practices. By Dallas T.

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PennyMac

OCTOBER 10, 2023

The required in-person visit by a home appraiser can take over an hour, depending on the size of your home. However, several other steps are involved in making an unbiased and professional assessment of your home's value. An appraiser will also evaluate your home's foundation and its condition.

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AmeriMac

MARCH 29, 2024

Appraisals help establish the loan amount, based on factors like home equity and condition. Accurate valuations also help prevent over-borrowing and ensure homeowners fully understand their financial agreements. A well-maintained and visually appealing home can positively impact the appraisal value.

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Appraisal Today

FEBRUARY 24, 2023

The real estate appraisers of old used to network more, market their services, and sell themselves more than today’s modern appraiser,” remarks Mark Skapinetz, an independent real estate appraiser in Georgia who operates a 100 percent non-lender appraisal firm. They also fail to note the size of these under-valuations. Budget cuts.

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Appraisal Today

SEPTEMBER 29, 2023

NOTE: Please scroll down to read the other topics in this long blog post on non-lender appraisals, VA, flood and fires no insurance, retirement, few lender appraisals, unusual homes, mortgage origination $22M Modern Mansion on 130 Acres in Napa Has Its Own Cabernet Vineyard Excerpts: 6 bedrooms, 6.5+ Risk to Home Values.

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Appraisal Today

DECEMBER 23, 2022

Home type: Single family. Home value (with no comps, not even close to 30!). Modern valuation progress requires three things: 1) a clear definition of “what is a comp?” Floor size: 2,500 sqft. Year built: 1822. Last remodel: 2013. Multiple 150 sqft Cottages. Santa’s Toy Workshop. Reindeer Stables. Don Quixote? ==.

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Appraisal Today

FEBRUARY 23, 2024

The first time physically going through the home was really breathtaking,” he says. Resembling a modern French Chteau, it features a freshwater lake, manicured gardens, and three levels of luxurious living spaces. “I couldn’t believe that something like that was out there. The photos and videos don’t really do it justice.”

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Appraisal Today

MAY 19, 2023

NOTE: Please scroll down to read the other topics in this long blog post on hybrid appraisals, business tips, UAD info from Freddie, Fannie modernization, non-lender appraisals, unusual homes, mortgage origination stats, etc. = Some appraisers may want to become data collectors or do desktops. Nothing wrong with that. I learned a lot.

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Will Springer Realtor

AUGUST 11, 2023

. >> In an analysis by Axios , it takes the typical Seattle resident 13 years to save up for a 10% down payment on a home. Using home valuations and area median household income data, the report notes the average time required across the U.S. Tickets Tour Modern Homes, Sept. Pittsburgh).

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Housing Wire

MAY 27, 2022

There is no single silver bullet that will rectify the pernicious impact of bias in residential real estate valuations — it is a complex problem that requires a multifaceted solution. As a result, homes located in minority neighborhoods have been chronically undervalued, exacerbating the racial wealth gap.

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Housing Wire

JUNE 14, 2022

Fannie Mae and Freddie Mac’s equitable housing finance plans further expand non-traditional property appraisals, which sometimes rely on property tax information, data collected by third parties, or algorithms to assess a property’s value. Using its automated valuation models “leads to relatively lower racial gaps,” Freddie Mac said.

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