Cleveland Appraisal Blog

SEPTEMBER 10, 2022

Andrea Gibbs is the Content Manager at SpringHive Web Agency , a company that offers web design services, maintenance, and Internet marketing. She specializes in content marketing, social media, and SEO. Reconsideration of Value and Appraisers – APPRAISAL TODAY. Author bio. Is the Sun Setting on High Prices?

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Reconsideration of Value Technology Appraisal Finance 195

McKissock

JUNE 22, 2021

Job aid: Big Box Retail Valuations. Job aid: 16 Current Events That Point to a Declining or Increasing Real Estate Market Trend. In general, it is difficult to recognize a bubble market while it is in progress. In general, it is difficult to recognize a bubble market while it is in progress.

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Reconsideration of Value Appraisal Real Estate Retail 52

Appraisal Buzz

FEBRUARY 7, 2022

The markets perceived no additional risk in transactions where the appraiser signing off on the valuation of the collateral being utilized for a credit decision did not physically inspect the property. Additionally, there was a healthy dose of government stimulus involved to ensure there would be no disruption in the capital markets.

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Appraisal Inspection Development Technology 435

Birmingham Appraisal

FEBRUARY 20, 2024

While agents and appraisers cannot discuss value we can talk about the property and why they may have priced it at what they did. One tool the agent uses to price the property is the Comparative Market Analysis or CMA, and by sharing this with the appraiser they can better understand what went into the agent’s pricing strategy.

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Agents Appraisal Real Estate Agent Bracketing 89

Portland Appraisal Blog

APRIL 14, 2019

All the work getting the property ready for listing, the extensive marketing, the numerous showings, the sometimes tedious offer evaluations has paid off. Usually this is done via a document known as a “reconsideration of value” (ROV for short). What is a Reconsideration of Value? That’s not the case here.

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Appraisal Reconsideration of Value Agents Market Value 78

Annarbor Appraisal

SEPTEMBER 6, 2020

The appraisal is for their benefit, but at the same time, the appraiser needs to complete a fair and supportable valuation. There should never be any bias in favor of any party, or value. When a sale is involved, the valuation may be lower than contracted price. Lenders offer a formal “Reconsideration of Value” (ROV) process.

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Mortgage Appraisal Appraisal Mortgage Reconsideration of Value 78

Housing Wire

MARCH 23, 2022

The Department of Housing and Urban Development ’s long-awaited action plan on appraisal bias outlines administrative actions the federal government will quickly take to address mis-valuations. One challenge in assessing the scope of appraisal bias is rooted in the informal process of challenging an appraised value.

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Appraisal Reconsideration of Value Government Valuation 418

Cleveland Appraisal Blog

MARCH 30, 2021

This fish phenomenon reminds me of the housing market today. As soon as homes hit the market, they often sell in days, with numerous offers that usually bid the list price up. People who are willing to spend tens of thousands more than the market will really support, seem to be speculating that things will continue as they are.

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Housing Market Marketing Reconsideration of Value Contracts 367

Appraisal Today

NOVEMBER 4, 2022

Reconsideration of value and Appraisers. Excerpts: As residential property prices plateau or decline in various markets and as borrowers have financial problems with fewer financing options, there are more legal claims being filed by borrowers against appraisers and lenders in relation to appraisals for loans made in recent years.

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Reconsideration of Value Appraisal Inspection Advertising 52

Appraisal Today

APRIL 7, 2023

NOTE: Please scroll down to read the other topics in this long blog post on ROVs, non-lender appraisals, appraisal business, unusual homes, mortgage origination stats, etc. == Amazing Guitar-Shaped House in Georgia Currently off market. Was listed for $748,000 in 8/22. Needs lots of work 4 bed 3 bath 2,818 square feet, 2 acre lot.

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Appraisal Property Taxes Reconsideration of Value Contracts 52

Appraisal Today

APRIL 5, 2024

Lanham, 20/20 Valuations, and loanDepot.com, U.S. They alleged that the appraiser had taken into account their race in his valuation of their home in violation of the federal Fair Housing Act and other laws prohibiting discrimination. District Court, Maryland. Connolly and Mott and for loanDepot.com filed a settlement with the court.

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Appraisal Contracts Business Construction 77

Housing Wire

JANUARY 3, 2023

I do believe there are issues in rural markets that lead to lengthy delays that are difficult for homebuyers in a normal functioning market, but what about the burden of proof? However, in several rural markets there is failure to meet this standard as appraisers may not even accept the order for weeks.

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Modernization Real Estate Agent Reconsideration of Value Appraisal Process 79

Housing Wire

MARCH 9, 2021

The Department of Housing and Urban Development (HUD) has announced that JPMorgan Chase has come to an agreement with a Black homeowner who claimed the bank’s mortgage division – relying on a valuation done by an appraiser – valued her home at an amount lower than its actual worth because of her race.

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Reconsideration of Value Appraisal Valuation Appraisal Process 458

Housing Wire

JUNE 2, 2023

On the heels of a Thursday announcement by six federal agencies unveiling a proposed rule that would implement quality control standards that govern the use of automated valuation models (AVMs), Vice President Kamala Harris weighed in. In addition, the proposed rule expressly includes a nondiscrimination quality control standard.”

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Appraisal Reconsideration of Value Valuation Development 397

Appraisal Today

FEBRUARY 23, 2024

I also have some market recap visuals to unpack what’s been happening in 2024 so far. The truth is there are portions of 2021 and 2022 where prices are exactly the same as today too, so if I use an older comp, I don’t always need to adjust for the way the market has changed. Market conditions is the easiest adjustment to make.

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Appraisal Real Estate Contracts Reconsideration of Value 68

Birmingham Appraisal

SEPTEMBER 15, 2022

Banks are typically absolved from discrepancies between the amount they lend and the true market value of the home meaning that they will not be held responsible to the buyer. There is always the possibility that the appraisal value is less than the contract price. Appraisal vs Home Inspection.

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Appraisal Inspection Appraisal Process Real Estate Agent 93

McKissock

DECEMBER 28, 2021

Appraisers recently contacted by McKissock tend to agree that the profession will go generally well in 2022, with no major changes to the real estate market and no events on the horizon that could seriously upset appraisers’ business. Housing market trends for 2022. So, many markets may cool off.”. Tampa, Fla.),

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Appraisal Reconsideration of Value Real Estate Property Appraisal 96

Housing Wire

AUGUST 29, 2022

We wanted the lender and broker community to know we were never taking advantage of the market. A lot of our initial growth in the last few years came from markets where many AMCs prefer not to work. SW: Did you already have deep connections in those rural markets or did you have to go out and find those people?

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Modernization Appraisal Valuation Technology 370