Cleveland Appraisal Blog

NOVEMBER 3, 2022

Most appraisers are experiencing a significant slowdown in mortgage lending work due to rapidly increasing mortgage rates which are slowing down the housing market. So what can we do? Mortgage lending work is only one type of business where appraisals are needed. I have seen a slowdown in my lending work also.

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Housing Wire

MAY 23, 2023

In the past few years, appraisal bias has come to the forefront of conversations about appraisals and how they can be improved. You can’t ignore it. At Tavant , they’re taking a look at the past and present of appraisals to prepare for a better future. There’s been progress, but there’s still a long way to go.”

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Technology Appraisal Lending Valuation 357

The Appraiser Coach

MARCH 19, 2024

As a real estate investor, I have the opportunity to rub shoulders with all kinds of people, even other appraisers on occasion. With a recent house purchase in another state, I got a call from the appraiser of this property as he was planning a visit out there. To get the mix just right, you need a little bit of both.

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Appraisal Clients Real Estate Business 195

Housing Wire

AUGUST 11, 2020

Last week, HousingWire reported surging mortgage volume and record low interest rates are putting excess pressure on appraisal turn times. This week, appraisal experts said those same variables are having a profound effect on an age-old conflict of appraisal reports versus what the market believes the home is worth.

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Housing Market Appraisal Reconsideration of Value Marketing 539

Cleveland Appraisal Blog

JULY 20, 2022

I recently gave a presentation and was asked if appraisal gap clauses impact the way appraisers are developing their opinion of value? In other words, do appraisal gap clauses cause appraisers to be more “conservative”? An appraisal gap clause can be written into a contract. But not always.

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Appraisal Market Value Contracts Buyers 397

Housing Wire

JANUARY 8, 2021

Are you considering purchasing a home for the first time? But what about all the other costs needed to complete the transaction? Understanding what expenses are required at closing to buy a house will help you budget and save more effectively. Loan origination fees are what lenders charge to set up a loan.

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Property Taxes Insurance Real Estate Mortgage 525

Cleveland Appraisal Blog

JULY 6, 2022

In one Facebook group the other day, (yes, I’m back on Facebook ) one member mentioned they feel that a person who scans a property to provide an appraiser with a floor plan should be licensed. What do you think? I know that not everyone will share my view about this topic, and I respect that.

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Inspection Appraisal Technology Clients 369

Cleveland Appraisal Blog

OCTOBER 12, 2022

I know, I know… In previous articles, I have exposed the lack of accuracy with their Zestimates. When appraising a property, I usually look to see if there is any information on Zillow about the property I am appraising. Because sometimes as appraisers, we miss comparable sales. Good thinking!

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Market Value Appraisal Clients Marketing 334

Housing Wire

APRIL 13, 2021

Rapidly accelerating home prices come with a variety of challenges for lenders and real estate agents, including one of the biggest pain points right now — the appraisal gap. If they get a higher offer that has financing, then when appraisal comes back, the buyer is going to renegotiate the sales price to be closer to appraised value.”.

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Housing Market Buyers Marketing Real Estate Agent 532

Cleveland Appraisal Blog

SEPTEMBER 21, 2023

I hope you all have been doing good and hanging in there. You may be wondering where in the world I’ve been. I’m sure you’ve read my articles on how much I love using CubiCasa. You’ve no doubt heard it on my more recent podcasts as well. I hope you enjoy this interview! Hello everyone!

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Housing Wire

MARCH 5, 2024

Typically, the fees are lower than those for new loans and no appraisal is needed. How do you encourage mortgage professionals to utilize assumable mortgages? Mortgage assumption is a niche option that gained momentum in 2023. In 2023, the Federal Housing Administration (FHA) and the U.S. Raunaq Singh About $8.5

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Appraisal Buzz

OCTOBER 3, 2022

What should appraisers know before they sign the appraisal report and deliver their professional opinion of value? Many appraisers working in today’s marketplaces are about to find out how important this is. months less than what it was in 2019. Why inventory levels matter to appraisers.

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Appraisal Marketing Real Estate Inventory 370

Appraisal Buzz

JULY 26, 2021

The Urban Institute recently released a blog post entitled – Increasing Diversity in the Appraisal Profession Combined with Short-Term Solutions Can Help Address Valuation Bias for Homeowners of Color. This article addresses several issues with the real estate appraisal profession that are worthy of further examination and comment.

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Cleveland Appraisal Blog

DECEMBER 10, 2022

This week, Betty White shares some things that can decrease property value. As a certified residential appraiser, I can tell you that while some of the things noted in this report can decrease value, they may not, so take these points with a grain of salt. Betty is not an appraiser.

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Appraisal Buyers Renovations Investing 298

Aedis Appraisals

JUNE 13, 2017

Regardless of whether you happen to be the buyer, owner, or seller of a property, it’s important to understand the significance of appraisals and how they affect the inherent value of the property in question. What Is an Appraisal and When Do I Need One? Home Appraisal and Home Inspection Differences.

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Property Appraisal Appraisal Inspection Real Estate 36

Housing Wire

DECEMBER 8, 2022

Appraisal turn times have historically been a pain point in the mortgage process and in boom times, when transaction volumes soar, turn times tend to be one of the first casualties. In 2020 and 2021, for example, some markets saw appraisals take as long as three to six weeks. What’s going on?

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Appraisal Process Appraisal Logistics Valuation 375

Cleveland Appraisal Blog

FEBRUARY 7, 2023

This week my regular guest blogger, Betty White from Moving Offices San Diego , offers some reasons why you should hire a professional to measure your home as well as to remodel it. I hope you find some helpful information in this article! Knowing how and where to measure is crucial. story house.

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Real Estate Agent Property Taxes Real Estate Appraisal 289

Appraisal Buzz

DECEMBER 7, 2021

Whether you’re a new appraiser or a seasoned appraiser looking to grow your income, you probably want to know, “What appraisal competencies do I need to master in order to maximize my success?” Key appraisal competencies Manage business expenses.

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Property Appraisal Appraisal Business 195

Housing Wire

JUNE 11, 2021

What’s the difference between a home inspection and an appraisal? Have you budgeted for closing costs? Before you get overwhelmed, take comfort that critical milestones of home inspection, appraisal and closing processes are all great ways to get more acquainted with your prospective new home. Home Inspection.

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Inspection Appraisal Buyers Appraisal Process 424

Appraisal Buzz

OCTOBER 11, 2021

Tell someone that you’re a professional fee appraiser and most folks won’t have any idea what that really means. 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.

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Appraisal Clients Advertising Investors 397

Housing Wire

SEPTEMBER 15, 2023

We all owe a debt of gratitude to those who have our backs in times of need. Listen to all of these really great mortgage programs (most agents and buyers don’t know about these!) Listen to all of these really great mortgage programs (most agents and buyers don’t know about these!)

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Real Estate Government Law Buyers 404

Cleveland Appraisal Blog

OCTOBER 29, 2021

If you’re reading through an appraisal report, and you make it to the Cost Approach, which is where appraisers report either the reproduction or replacement cost of the home they are appraising, you will see a little field that says, “ Remaining Economic Life “ What does this number indicate?

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Cleveland Appraisal Blog

APRIL 21, 2022

The homeowners of one property stated that their neighbors are a nuisance. Meanwhile, in a different neighborhood, a different homeowner claimed that their home was suffering a loss of value due to their neighbor’s home not being kept up and in need of repairs and updates on the exterior. The neighbor’s property is an eye-sore.

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Market Value Appraisal Agents Real Estate Agent 350

Cleveland Appraisal Blog

JULY 16, 2022

I hope you enjoy this one! There are pros and cons that will be different for everyone based on finances, the type of home you dream of being your forever home, and the availability of the homes in your market. The first step in determining what kind of home you can afford to purchase is having an accurate appraisal.

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Appraisal Contracts Property Taxes Investing 298

Housing Wire

APRIL 8, 2021

According to industry experts, there is more to a home offer than just the price you are willing to pay. Other aspects of an offer, they say, create more opportunities for you to lock in a home – and could make all the difference. Second, it allows you to tailor your offer to each individual house you put an offer on.

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Housing Wire

JANUARY 12, 2023

Who knows how high that volume could go, considering tappable equity is at a historic high of $11 trillion and total home equity at a record $27.8 Lenders need support in streamlining their processes and creating an exceptional borrower experience while keeping costs as low as possible. Are you closing as quickly as you’d like?

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Technology Inspection Valuation Tools 373

Cleveland Appraisal Blog

JANUARY 19, 2023

Have you heard of a property being overimproved, or super adequate? Unless you’re in the property valuation profession, you may not have. What do these things indicate? ” Conversely, an underimproved property might be lacking in amenities that most buyers expect to see. How about underimproved?

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Appraisal Buyers Transportation Real Estate 284

Cleveland Appraisal Blog

JUNE 18, 2022

This week I have a bonus article for my appraisal colleagues who are interested in becoming expert appraisal witnesses in eminent domain cases. I hope you enjoy her article! Appraising property in an eminent domain case requires unique expertise and skills.

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Appraisal Law Development Valuation 309

Cleveland Appraisal Blog

DECEMBER 24, 2022

Are you planning on renovating your home? What kinds of things can you expect? I hope you enjoy it! What to Expect When Undertaking These 4 Common Home Renovation Projects. When home improvement gives way to major renovations, the implications can be more impactful than you might realize. Kitchen Remodel.

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Renovations Appraisal Home Improvement Buyers 303

Appraisal Buzz

JANUARY 24, 2022

Are you ready to meet the new GSE requirement of a detailed floor plan for your desktop appraisals? Join us for our upcoming webinar on January 25th at 2 pm, “ The Future of Desktop Appraisals ” with Joshua Walitt and Mark Walser! Buzz : What is your background in the appraisal industry?

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Appraisal Inspection Technology Valuation 370

Housing Wire

FEBRUARY 24, 2023

Have you heard this phrase before — “perfect is the enemy of good”? I hear these phrases quite often when it comes to product and software development, but I think they apply very well to solving complex problems like transforming the property appraisal process to work better for every stakeholder.

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Appraisal Process Appraisal Reconsideration of Value Valuation 332

Cleveland Appraisal Blog

MAY 12, 2022

Have you been to the Copacabana? Perhaps you’ve been to the Copacabana nightclub in New York City, made popular by Barry Manilow’s song Copacabana in 1978. In the meantime, I want to visit with you about an awesome software and service that is changing the way real estate professionals measure homes and provide floor plans.

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Inspection Appraisal Tools Advertising 341

Cleveland Appraisal Blog

JUNE 30, 2023

I welcome back guest blogger June Duncan who wrote this article for the Cleveland Appraisal Blog. I hope you enjoy June’s article! Whether you’re escaping a toxic relationship, a job that’s not fulfilling, or an addiction, a move can signify a fresh start. Relocating is not easy. But it can be successful.

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Realtor

NOVEMBER 7, 2023

If you’re a first-time home buyer , you might get a little queasy when the last line of your good-faith estimate comes in at several thousand dollars. And after the color returns to your face, you might also be a little more than perplexed by some of those fees. The amount you need to pay varies by location, lender, and loan type.

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Inspection Insurance Sellers Buyers 196

Housing Wire

APRIL 6, 2021

Unfortunately, the appraisal put the house’s value roughly $50,000 below than what she paid. Linda had a sizable downpayment but still needed to find a way to close the appraisal gap. She recently had a deal fall apart due to appraisal. With others waiting in line behind her, the seller wouldn’t budge on price.

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Appraisal Reconsideration of Value Real Estate Agent Sellers 539

Housing Wire

FEBRUARY 19, 2021

From thousands of feet above your home, a high-tech camera snaps pictures of your roof, the mess of debris in your yard, and that pool you hate cleaning. Pictures like these could cost – or save – you thousands of dollars when deals are about to close. Condition data is the latest frontier, according to Cape and Weiss.

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Valuation Real Estate Investors Brokerage 385

Cleveland Appraisal Blog

SEPTEMBER 2, 2022

Have you ever read thru an appraisal report? You may have noticed that there are three approaches to value. The Sales Comparison approach, as the name implies, compares the property being appraised to other properties that a potential buyer might consider as a substitute for buying the property being appraised.

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