article thumbnail

Revive launches AI-powered listing tool for real estate agents

Housing Wire

This AI-driven tool uses computer vision technology to evaluate the current condition of a property and provide a detailed assessment of its current market value and potential value post-renovation. Future ARV (after-remodeled value): The projected market value post-renovations.

article thumbnail

Do Appraisal Gap Clauses Impact Appraisals?

Cleveland Appraisal Blog

I recently gave a presentation and was asked if appraisal gap clauses impact the way appraisers are developing their opinion of value? It states that the buyer will still purchase the home at the contract price, even if the appraised value is lower than the contract price by a certain amount. But not always.

Appraisal 397
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

What to do when your buyer wants to make a lowball property offer

Housing Wire

By definition, a lowball offer is an offer that is significantly below market value. Asking price and market value are not always the same thing. Determine if the listing is priced correctly Determine the actual market value of the subject property. If so, it may be time for a strategy change.

Buyers 430
article thumbnail

Ocwen improves overall reverse mortgage performance despite volume contraction

Housing Wire

The company’s origination segment also returned to profitability, O’Neill said, despite challenges presented by persistently high mortgage rates and a contraction in reverse mortgage volume. We also continue to dynamically manage our owned MSR portfolio to capitalize on differing views of market values amongst top market participants.

Contracts 304
article thumbnail

Unanswered Questions – Part 1

Appraisal Buzz

Fannie Mae defines market value in part as “the most probable price that a property should bring…” Thus, probability is the very foundation of the most common definition of market value. In other words, why are appraiser estimating market value below the contract price so often? Markets hate uncertainty.

article thumbnail

HousingWire Annual: CoreLogic says climate change should be factored into financial analytics

Housing Wire

For example, if a property is exposed to high climate risk, its market value may decline. The CoreLogic presentation at HousingWire Annual is timely with the anticipated release of the Securities and Exchange Commission ’s climate-disclosure rule.

article thumbnail

‘Abandoned’ Bay Area land will be developed into housing

Housing Wire

Chief sponsor Mia Bonta, a California assemblymember serving the 18th district that includes Alameda, announced the passage of the bill on social media, and presented information about the proposed measure to the Alameda city council in June. Newsom signed the bill into law on July 27.