Housing Wire

NOVEMBER 7, 2023

The market has since cooled off, but taxes are going up. That, combined with higher home valuations from sales last year, has meant that the average homeowner will pay an extra $130 annually in tax through fiscal year 2024, according to the county. The assessed value is often significantly lower than the appraised market value.

Property Taxes 540

Property Taxes Home Value Government Buyers 540

Cleveland Appraisal Blog

MAY 26, 2023

In recent years, on several occasions, I have been hired to appraise a property after a valuation service was provided for my client by another real estate professional. They had hired the former real estate professional to value their property for the purpose of a divorce. All three are market-based approaches.

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Appraisal Real Estate Agent Real Estate Agents 302

McKissock

MARCH 3, 2023

Fannie Mae updates its Selling Guide to include more options for property valuations. Early signs of a housing market rebound are halted by rising interest rates. ” Options introduced with this update include value acceptance (a.k.a. ” Get HouseCanary’s February Market Pulse report here.

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Valuation Appraisal Marketing Housing Market 52

McKissock

MARCH 3, 2023

Fannie Mae updates its Selling Guide to include more options for property valuations. Early signs of a housing market rebound are halted by rising interest rates. ” Options introduced with this update include value acceptance (a.k.a. ” Get HouseCanary’s February Market Pulse report here.

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Valuation Appraisal Marketing Real Estate 52

Housing Wire

MAY 25, 2021

One significant factor behind the lack of evolution in the appraisal industry is that the American housing market has grown at a much higher rate than the pool of licensed professionals that are legally certified to appraise residential real estate. Navigating appraisal challenges in today’s housing market.

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Appraisal Valuation Real Estate Modernization 322

Housing Wire

OCTOBER 12, 2023

When we go through the brokerage valuation process, the product is Fair Market Value (FMV). Neutral terms a couple years ago, when the M&A market was hot, saw cash at close in the neighborhood of 40% to 60%, with the rest over a two- to three-year earn-out.

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Sellers Buyers Brokerage Agents 374

D Fritz Appraisals

SEPTEMBER 11, 2023

Whether you are planning to sell in the near future or not, most people want to be reassured that any major renovations they invest in will be reflected in an increased home valuation. While any renovations that improve the function or look of your home are a good idea, some have a better return on investment value than others.

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Renovations Home Value Market Value Valuation 117

Appraisal Buzz

OCTOBER 3, 2022

According to the Uniform Standards of Professional Appraisal Practice (USPAP), the rules that all professional appraisers are required to abide by, appraisers must take into consideration all market trends and other influences on property value in their valuation opinions. USPAP Rule 1-3 (d) (v) makes this clear.

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Appraisal Marketing Real Estate Inventory 370

DW Slater Company

FEBRUARY 23, 2023

So what’s happening in the housing markets here? The past six months have been full of very drastic changes as the rapid mortgage rate increases causing many markets to begin to decline. Closely studying our markets is very crucial in understanding current market value for appraisers.

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Inventory Marketing Supply Chain Appraisal 128

Appraisal Buzz

MARCH 25, 2024

The hypothetical interaction of the typical buyer (who embodies the collective thought and action of the whole market of buyers) with the typical seller (who similarly embodies the collective thought and action of the whole market of sellers). The post Loosening The Knot appeared first on Appraisal Buzz.

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Sellers Appraisal Real Estate Buyers 379

Housing Wire

NOVEMBER 23, 2020

Steve Price, senior vice president of trustee operations at Auction.com, said this is likely because of the shift to vacant or abandoned properties that often come with more deferred maintenance – but the average price relative to estimated full market value increased to a 6.5-year year high in September.

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Buyers Real Estate Investors Retail 528

Appraiserblogs

NOVEMBER 11, 2022

I mean no disrespect to the modelers of the Automated Valuation Models (AVMs) or to Zillow for relying on their AVMs. Related Posts: Non-Appraisers Valuation Never Appropriate Here is a NAR deck on AVMs (automated valuation models). Tax Values Just as Accurate as AVMs? Does the buyer want more acres, or less grass to cut?

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Appraisal Valuation Lending Investing 105

Housing Wire

APRIL 25, 2022

As house prices continue their meteoric rise — although rate hikes from the Federal Reserve may cool increases — prospective borrowers and existing homeowners are seeing their property taxes grow bigger and bigger. In Texas, lawmakers limited property tax rate increases even before the COVID-19 housing rush sent home prices skyward.

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Property Taxes Government Appraisal Valuation 404

Cleveland Appraisal Blog

JUNE 18, 2022

Becoming an expert appraisal witness in an eminent domain case starts with developing a comprehensive understanding of how value is determined in this special proceeding. While most states allow fair market value to be established using traditional appraisal approaches (e.g. Click here to visit their website.

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Appraisal Law Development Valuation 309

Housing Wire

JUNE 11, 2021

An appraisal is a valuation of a property by a third party. A qualified appraiser will compare recent sales of similar local properties, market trends and conduct a visual inspection of the home’s interior and exterior to determine the property’s fair market value. The buyer typically covers the cost of the appraisal.

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Inspection Appraisal Buyers Appraisal Process 423

Clear Capital

FEBRUARY 13, 2023

Home equity lenders know the benefits of using an Automated Valuation Model (AVM) when originating Home Equity Line of Credit (HELOC), Home Equity Investment (HEI), cash-out refinance, and fixed-rate home equity loans. Does the AVM prevent and mitigate bias in its valuations? Uptime — Loans need to originate at any hour of any day.

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Valuation Lending Inspection Real Estate Agent 69

Housing Wire

OCTOBER 10, 2023

And the market has gotten much darker over the last few years. After six years of no enforcement actions and a rapidly declining housing market, RESPA attorneys believe some in the industry may be more willing to test the boundaries. “I “The only way you can navigate that gray space is to define what your black is in that space.”

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Real Estate Agent Loan Officers Real Estate Agents 410

D Fritz Appraisals

DECEMBER 16, 2022

These assessments provide a valuation of each property as of July 1 st in the previous year (So 2023 tax assessments are based on the value of homes on July 1 st, 2022). While the actual dollar valuation of the property is not the basis for your tax bill (i.e. Size of home in square feet. Number of rooms. Age of home.

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Property Taxes Valuation Appraisal Real Estate 110

Cleveland Appraisal Blog

JULY 6, 2022

Interestingly, some appraisers don’t like using the term inspection when describing our walking thru a home to observe things like its condition, layout, and other aspects of the home that impact market value. Recession-Proof Your Business Part 2 – The Real Value Podcast with Blain Feyen. What is a Valuation Model?

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Inspection Appraisal Technology Clients 369

Cleveland Appraisal Blog

JANUARY 19, 2023

Unless you’re in the property valuation profession, you may not have. The Appraisal of Real Estate, fifteenth edition on page 352, states that “…the relationship between land and improvements and the relationship between a property and its environment must be in balance for a property to achieve its optimum market value.

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Appraisal Buyers Transportation Real Estate 284

Eppraisal

OCTOBER 31, 2023

   Property Valuation Your home value is the primary determiner of your asking price. Unless you’re desperate to sell and willing to accept less than what you still owe on your mortgage, price your house based on what these sources say it should be worth.

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Marketing Real Estate Agent Real Estate Valuation 69

D Fritz Appraisals

OCTOBER 11, 2022

There are many reasons you may need to know the value of your property and for this, you need a home appraisal. Home appraisers are trained to inspect and measure your property and perform comparisons that result in an accurate valuation for the current housing market. Valuation for insurance claims.

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Appraisal Inspection Property Taxes Easement 105

Realtor

DECEMBER 15, 2016

If all goes well, the home’s appraised value will end up at the price you’d agreed to pay. But the home appraiser could also report that the home valuation is higher—or lower—and this has ramifications for the whole deal. But never fear. Appraisers aren’t perfect,” says Parsons. They make mistakes.”

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Appraisal Real Estate Agent Real Estate Mortgage 78

Realtor

DECEMBER 15, 2016

If all goes well, the home’s appraised value will end up at the price you’d agreed to pay. But the home appraiser could also report that the home valuation is higher—or lower—and this has ramifications for the whole deal. But never fear. Appraisers aren’t perfect,” says Parsons. They make mistakes.”

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Appraisal Real Estate Agent Real Estate Mortgage 78

Miller Samuel

MARCH 19, 2019

That article came out in 2014 right as the housing market was peaking. The market value of these properties will be based on a "comparable sale-based valuation method." which seems in direct conflict with state law since co-ops and condos are valued as rentals by state law in NYC.

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Real Estate Law Development Investors 370

Cleveland Appraisal Blog

MARCH 18, 2021

My market analysis was reflective of what was taking place in that neighborhood as of the date of the appraisal. My research and analysis showed that the buyer was about to spend a much higher price than the true market value of this home. Bowling For Answers In The Housing Market – Housing Notes by Jonathan Miller.

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Appraisal Investors Buyers Market Value 195

AmeriMac

SEPTEMBER 15, 2023

Understanding the Importance of Appraisal in Real Estate Appraisal plays a crucial role in the real estate industry, determining the market value of a property. Mortgage lenders rely on appraisals to assess the value of a property for financing purposes. Contact us at AmeriMac today!

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Appraisal Appraisal Process Real Estate Real Estate Agent 36

Appraisal Today

APRIL 12, 2024

Retrospective appraisals, drive-by (exterior inspection) appraisals, and valuations from plans and specifications, are all valuation assignments where an appraiser develops an appraisal opinion without personally inspecting the property. Recommendations include: Add representation from the U.S. HOW TO USE THE NUMBERS BELOW.

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Appraisal Construction Contracts Architecture 77

Genworth MI Blog

JULY 13, 2023

The current housing market has been met with low housing inventory, yet demand is still relatively high. But with obstacles in the way for many, lenders need to stay updated on market trends and understand how every part of the homebuying journey might be impacted. That’s where you, the lenders, can step in and help.

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Appraisal Inspection HOA Real Estate 78

Will Springer Realtor

OCTOBER 19, 2021

Enter the appraiser, someone who has probably never visited the property – or possibly even the neighborhood – and who will use his/her expertise to develop a valuation on the home. housing market is 7% of all mutually accepted contracts. CoreLogic said the more typical figure for low appraisals in the U.S.

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Contracts Appraisal Sellers Real Estate Agent 41

McKissock

SEPTEMBER 1, 2020

There are HP-12C keystrokes for life estates, but in this case, the assignment ended up being a request for market value for his CPA’s needs. In a large development of approximately 300 houses, four of them were on a 99-year land lease with 55 years remaining. housing markets suffered severe declining property values.

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Appraisal Land Lease Valuation Real Estate 61

Appraisal Today

OCTOBER 7, 2022

Eleven percent cite evaluations (non-appraisal opinions of value). The eight percent who cite other valuation methods most often explained that they use a hybrid approach or mostly an exterior appraisal. If it had a market value of $345k, it would have listed at $345k!”. Housing Market Cools.

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Appraisal Contracts Architecture Housing Market 52

Appraisal Today

OCTOBER 6, 2023

As this property data collector thing moves along, there continues to be no legitimate reason for Fannie Mae’s motivation to push this so hard other than they want the valuation process fully automated and can pay $25 for an untrained inspector to view a home. Fannie Mae sees the appraisal process as “inspection + value.”

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Appraisal Contracts Real Estate Mortgage 77