Appraiserblogs

FEBRUARY 21, 2022

These junk reports and the waivers continue to undermine the public trust in our industry and leave the appraisers exposed to great risk and the consumers left holding the bag if their mortgage goes south. Public Trust If the ASC grants the request for appraisal waivers, the precedent will have been set for other banks to follow.….

Appraisal 133

Appraisal Real Estate Valuation Real Property 133

Appraisal Buzz

OCTOBER 11, 2021

If they’re in the mortgage industry, they’ll likely fall into one of two groups – those who understand the value you bring to the home finance transaction and those who think you fill out forms. There can be a wide variance between what intended users require in terms of property data, think lenders versus tax assessors.

Appraisal 397

Appraisal Clients Advertising Investors 397

Cleveland Appraisal Blog

JUNE 23, 2023

Start thinking about the financing options available, such as mortgages, loans, and grants, and the associated interest rates, repayment terms, and fees. Depending on what you are buying and local tax laws you may also wish to look into property tax loans and if possible you should hire a realtor to walk you through the buying process.

Property Taxes 195

Property Taxes Legal Law Property Appraisal 195

Town & Country Residential Appraisals

MARCH 27, 2023

Moving it would mean it wasn't attached to a permanent foundation and therefore, is viewed more as personal property and not real property. Additionally, the manufactured home must be a one-unit dwelling that is legally classified as real property and cannot include an accessory dwelling unit.

Finance 56

Finance Real Property Legal Buyers 56

Cleveland Appraisal Blog

APRIL 11, 2023

With the massive amount of technology available to anyone who can access the internet, you might wonder why bother getting a real property appraisal? Slap a few sales in a report, and make a few guesstimate adjustments to come up with their opinion of a property’s value? Isn’t that all that appraisers do?

Appraisal 354

Appraisal Market Value Legal Property Appraisal 354

Cleveland Appraisal Blog

AUGUST 25, 2022

When you’re about to buy your first real property outside of your primary residence, you should know whether you’re going into it with the intention of renting or if you want to flip and make an immediate profit. This means on a $250,000 property, you’ll have to have a minimum of $37,500 in cash for the banks to even consider a loan.

Investing 332

Investing Renovations Landlords Real Estate 332

Housing Wire

MAY 26, 2023

In a vacant lot or seller impersonation scam, public records are searched to identify real estate that is free of mortgage or other liens, as well as the identity of the property owner. Then, posing as the property owner, the scammer contacts a real estate agent to list the property.

Sellers 385

Sellers Real Estate Realtors Real Estate Agent 385

The Robert Weiler Company

JANUARY 2, 2021

You may have noticed by now that a land contract sounds similar to a mortgage. The big difference is that you are not borrowing money from a bank or lender and paying back the purchase price plus your mortgage payments to the bank. Buyers can claim property taxes, the value of improvement projects (i.e., Tax advantages.

Contracts 143

Contracts Tenants Legal Sellers 143

Housing Wire

SEPTEMBER 8, 2022

This case study explores how Fulton Mortgage Company achieved its goal of delivering a more personalized, digital mortgage experience for borrowers, while also increasing production and return on assets. Presented by: Mortgage Coach. Those loans tend to have fewer consumer protections than mortgages and higher interest rates.

Real Property 397

Real Property Finance Mortgage Marketing 397

McKissock

SEPTEMBER 15, 2020

Failure to disclose significant real property appraisal assistance is another common violation. Believe it or not, sometimes trainees/applicants will send in the appraisal reports, and the trainee is not mentioned in the reports as having providing significant real property appraisal assistance. Written by Dan Bradley.

Appraisal 52

Appraisal Property Appraisal Real Property Law 52

McKissock

AUGUST 13, 2021

Secondly, the appraiser is likely familiar with the local real estate contract forms, customary terms, and conditions of real estate transactions in the area, and might be able to identify irregularities and comment on them. ” McKissock has offered courses on mortgage fraud for decades.

Contracts 64

Contracts Appraisal Market Value Real Estate 64

Appraisal Today

SEPTEMBER 22, 2023

When I started in this business long ago, there was no such thing as a licensed appraiser or a certified real property appraiser. Mortgage interest rates ALWAYS go up and down. Most lender appraisers have little work. == Mortgage applications increased 5.4 September 20, 2023) — Mortgage applications increased 5.4

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Appraisal Training Inspection Real Estate 85

Appraisal Today

OCTOBER 27, 2023

This satisfies the affordable housing element,” Al Salguero, real property division manager at the Orange County Assessor’s Office, told the publication. Some are busy, usually in rural areas and/or non-lender appraisals. == Mortgage applications decreased 1.0 October 25, 2023) — Mortgage applications decreased 1.0

Property Appraisal 71

Property Appraisal Appraisal Business Contracts 71

Appraisal Today

APRIL 1, 2023

NOTE: Please scroll down to read the other topics in this long blog post on non-lender appraisals, real estate market, regression and AVMs, unusual homes, mortgage origination stats, etc. = This statement definitely applies in the appraisal of real property. Higher mortgage rates triggered a drop in demand.

Appraisal 52

Appraisal Business Marketing Agents 52

Lamacchia Realty

APRIL 4, 2024

When it comes to real property (including a home or land), there are different kinds of ownership that help the courts determine who the executors of an estate sale will be: Sole Ownership – This is when a property is owned by one individual. They will be your best resource for the legalities of an estate sale.

Tenants 50

Tenants Realtors Legal Real Estate 50

Will Springer Realtor

AUGUST 2, 2022

EASEMENTS: An irrevocable right to use some part of another person’s real property for a particular purpose. Most easements are routine, in which a utility company needs access to the property to maintain service of its electricity, water or internet.

Easement 36

Easement Sellers Legal Buyers 36

Empire Appraisal Group

JULY 1, 2021

The appraiser has a scope of work for every lender client, which differs depending on the mortgage product, said Bradley. If a buyer is using an FHA-insured mortgage, the appraiser has to fulfill both the lender’s and HUD’s requirements, Bradley said. For example, you may have heard of “drive-by appraisals.”

Agents 78

Agents Appraisal Real Estate Realtors 78

McKissock

APRIL 30, 2021

Additionally, it requires that the buyer and seller are not acting out of undue haste or duress and that the real property has been exposed on the market for a reasonable period of time. Unlike an REO or foreclosure sale, the homeowner still holds title to the property, but sells short for less than what is owed on the property.

Market Value 88

Market Value Real Estate Appraisal Sellers 88

McKissock

JUNE 22, 2021

In this job aid, we’ve compiled several recommendations shared by a hearing officer, a property assessor, and appraisers who regularly perform real property assessment appeal assignments. This job aid provides in-depth guidance on appraising a big box retail property. Job aid: Big Box Retail Valuations.

Reconsideration of Value 52

Reconsideration of Value Appraisal Real Estate Retail 52

Appraisal Today

DECEMBER 2, 2022

In a July 9, 2015, Concept Paper – Alternate Track to the Experience Requirements in the Real Property Appraiser Qualification Criteria, the AQB asked: “Are there practical alternatives for some (or all) of the appraisal experience requirements to include non-appraisal experience?”. Mortgage applications decreased 0.8

Appraisal 80

Appraisal Agents Real Estate Real Estate Agent 80

Cleveland Appraisal Blog

MAY 9, 2024

GETTING TRENDY (Cuyahoga County Housing Trends) The housing market in Northeast Ohio has remained strong despite the relatively higher mortgage interest rates and affordability issues. If you’re a real property appraiser in Ohio, check us out! Let’s get do what’s happening with housing stats in Northeast Ohio.

Inventory 344

Inventory Appraisal Real Property Property Appraisal 344

Housing Wire

APRIL 27, 2022

Although the lesser of the two government-sponsored enterprises by size, Freddie Mac was alone in committing to purchasing manufactured homes not titled as real property, or chattel loans, a key item affordable housing advocates had sought.

Finance 392

Finance Real Property Government Mortgage 392

McCarthy Appraisal Blog

SEPTEMBER 4, 2018

The two basic licenses are Certified Residential Real Property Appraiser and Certified General Real Property Appraiser. Loan officers are typically looking for an assessment of the condition of the house and a rough market value to put on the mortgage documents. Ask an appraiser about their education and licensing.

Real Estate 36

Real Estate Appraisal Valuation Loan Officers 36

McKissock

DECEMBER 15, 2020

The VA uses state-licensed or state-certified appraisers to provide opinions of value for the homes on which it guarantees the mortgages. He has been a practicing real property appraiser since 1987, and has been instructing and authoring appraisal courses since 1992. A VA loan permits an eligible veteran to borrow up to 103.3%

Appraisal 53

Appraisal Property Appraisal Contracts Real Property 53

Valuation Nation

AUGUST 30, 2021

Folks are often upset, with compliments coming few and far between most especially in mortgage use transactions. With that in mind, I wanted to start sharing some stories, some from me and hopefully, many from you, my readers that showcase some of the positives that we see and participate in as real property valuers.

Real Property 40

Real Property Inventory Real Estate Appraisal 40

McKissock

MAY 26, 2023

” “Diversify your skill set to include more specialized services that tend to be market resilient, such as attorney work or real property assessment advisory positions / mass appraisal work for assessment purposes.” ” “Pay off mortgage and all bills, grow a money market account, relax.”

Real Estate 64

Real Estate Appraisal Marketing Business 64

Appraisal Buzz

AUGUST 1, 2022

As a minimum basis, a real property appraisal report written for the government sponsored entities (GSEs) and agencies are what USPAP (Uniform Standards of Professional Appraisal Practice) refers to as Appraisal Reports. Summary, What Does it Mean? I do several reviews every month and most normally fail to meet minimum standards.

Valuation 360

Valuation Contracts Appraisal Legal 360

McKissock

FEBRUARY 23, 2021

This course focuses on the common elements between divorce and estate appraisals, with primary emphasis on how they are different from standard mortgage lending appraisals. It covers form differences, USPAP issues, and assignment conditions. “This is a great class for anyone doing non-lender work!

Appraisal 52

Appraisal Inspection Development Design 52

McKissock

SEPTEMBER 20, 2021

This includes referral fees or financial benefits for recommending real estate products and services to the client, like mortgage financing, warranty programs, homeowner’s insurance, title insurance, etc. This includes “opinions of real property value or price.” See NAR’s six Case Interpretations of Article 6.

Real Estate 58

Real Estate Clients Real Estate Agent Realtors 58

McKissock

JULY 24, 2020

Individual mortgage lenders file complaints, appraisers file complaints against other appraisers, and sometimes attorneys file complaints. He has been a practicing real property appraiser since 1987, and has been instructing and authoring appraisal courses since 1992. Who can file a complaint? It has been updated slightly.

Appraisal 53

Appraisal Law Government Real Estate Agent 53

McKissock

DECEMBER 28, 2021

Mortgage rates are expected to rise, but still remain attractive and reasonable. It’s likely that the task force’s recommendations will be adopted by most of the major players in the residential mortgage lending arena. Mortgage rates also have a significant effect on housing affordability, which affects sale prices.

Appraisal 96

Appraisal Reconsideration of Value Real Estate Property Appraisal 96

McKissock

MAY 14, 2023

for mortgage financing purposes or tax assessment appeal purposes) Identification/brief description of the property appraised Real property interest appraised (e.g., fee simple, leased fee, etc.) population, news articles, economic data, internet searches, etc.)

Appraisal 87

Appraisal Appraisal Process Property Appraisal Real Property 87

DataMaster

JUNE 15, 2023

The purchase of real property for the purpose of investment is not new. Or, a home may be purchased for its income potential, with the purpose of renting the property to a tenant. Borrowers can take advantage of the superior STR income on one side and are denied that advantage on the other side.

Appraisal 148

Appraisal Tenants Investors Business 148

Simonson Real Estate

JULY 10, 2020

An appraisal is an objective, impartial, and unbiased opinion about the value of real property prepared by a State Licensed or Certified professional appraiser. Under fee simple ownership, a property owner may occupy the property and have the right to sell, lease, mortgage, or give an interest away.

Appraisal Process 148

Appraisal Process Appraisal Market Value Tenants 148

DataMaster

JUNE 15, 2023

The purchase of real property for the purpose of investment is not new. Or, a home may be purchased for its income potential, with the purpose of renting the property to a tenant. Borrowers can take advantage of the superior STR income on one side and are denied that advantage on the other side.

Appraisal 78

Appraisal Tenants Investors Business 78

The Robert Weiler Company

OCTOBER 15, 2021

As such, you must determine how involved you will be in the day-to-day administration of your property. If you are purchasing the commercial property for your business purposes, you must be prepared to keep that space occupied. The mortgage payments, utility fees, and maintenance costs are all on your shoulders. 1031 Exchanges.

Investing 138

Investing Real Estate Tenants Investors 138

Appraisal Today

APRIL 2, 2023

Secondly, the appraiser is likely familiar with the local real estate contract forms, customary terms, and conditions of real estate transactions in the area, and might be able to identify irregularities and comment on them. Mortgage applications increased 2.9 percent from one week earlier Mortgage applications increased 2.9

Contracts 52

Contracts Appraisal HOA Architecture 52