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HUD and FHA announce new appraisal bias protections

Housing Wire

Department of Housing and Urban Development (HUD) and the Federal Housing Administration (FHA) announced a new policy on Wednesday that will enable mortgage borrowers to “request a re-assessment of the appraised value of their property if they believe that the appraisal was inaccurate or biased,” according to an announcement from HUD.

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Real Estate Appraiser: The Key to Accurate Property Valuation

Appraisal Hub

Whether you’re a homeowner, a prospective buyer, or a real estate professional, understanding the true value of a property is crucial. This is where the expertise of a real estate appraiser becomes invaluable. Fair Property Taxes and Insurance: Accurate appraisals ensure you’re not overpaying on taxes and insurance.

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PAVE Task Force: What Does the Future Hold?

Appraisal Buzz

The Interagency Task Force on Property Appraisal and Valuation Equity (commonly known by the acronym PAVE) was created in June 2021 by President Biden, and consists of representatives of numerous federal government agencies, including the Department of Housing and Urban Development (HUD), Department of Veterans Affairs (VA), Federal Deposit Insurance (..)

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Expert Witness Testimony: The Indispensable Role of Real Estate Appraisers in Legal Disputes

Boston Appraisal

In legal disputes, the accurate valuation of real estate can be pivotal, making real estate appraisers key expert witnesses. Their assessments can delineate how such disputes affect property valuation, informing legal arguments and potential resolutions.

Legal 148
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Susan Rice to co-chair HUD appraisal task force

Housing Wire

The Property Appraisal and Valuation Equity task force will deliver a report to Biden within six months to describe the “extent, causes, and consequences of undervaluing of properties,” a HUD official told HousingWire. Many appraisers say disparities in valuation are caused by factors outside their control.

Appraisal 545
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The New & Improved Fannie Mae “FRAUDULATOR 2.0”

Appraiserblogs

Dear representative, waiving/eliminating property appraisal for lending purposes is wanton recklessness. Fannie Mae’s decision to waive/eliminate property appraisal for lending… AVMs. Home Valuations Are Being Subverted At the crossroads of it all is a campaign to weaken or eliminate valuations.

Valuation 138
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The Three Basic Approaches to Commercial Property Appraisal

Valcre

In turn, this allows for transparency and gives potential buyers or lenders a clear idea of what is an appropriate price range, loan amount, and/or insured value. Once hired, professional commercial appraisers typically employ one of 3 approaches to valuation: Cost, sales comparison, or income approach.