article thumbnail

The Loan Officer’s Guide to Appraisals Part 8:  Appraiser Bias – Not Just About Color

Riverfront Appraisals

This entire year, I’ve been blogging once a month with the purpose of assisting loan officers to better understand the appraisal process. So far, we’ve covered communication with the appraiser, reconsiderations of value, FHA appraisals and a few other topics you should definitely go check out.

article thumbnail

The Housing Market Has Become Like the Pymatuning Spillway

Cleveland Appraisal Blog

When an appraiser’s opinion of value is below the contract price, that’s when the carping begins. The number of professional reconsiderations of value coming in are increasing. My advice to agents and sellers is to really analyze the properties that they are using to develop their asking price.

article thumbnail

New Homebuyer’s Guide To Appraisals

Birmingham Appraisal

Other nontraditional uses for an appraisal include valuation for insurance companies, helping sellers arrive at a market value to list their home, estate planning, and tax appeals. Other users might be sellers, mortgage underwriting, banks, and contractors. Home inspections are normally regulated by the state.