Cleveland Appraisal Blog

FEBRUARY 16, 2024

I know most of my readers are interested in appraisal and real estate-related topics. FINISHED SQUARE FOOTAGE On more than one occasion some who have read my appraisal reports felt that my opinion of value was too high. One of the primary reasons has to do with what they report as finished square footage. Is this misleading?

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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. This is important information for appraisers, though it may not appear so at first. Pretty much everything.

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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? Isn’t that all that appraisers do? Not professional appraisers. Appraisers will provide market trends for the properties that compete with the property being appraised.

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Appraisal Market Value Legal Property Appraisal 354

Housing Wire

OCTOBER 1, 2022

If discrimination is committed by appraisers – as the news headlines would suggest – fellow appraisers and real estate agents say they rarely witness or experience it. Another issue with appraiser competency could be appraisers’ apparent lack of familiarity with valuation tools.

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Appraisal Real Estate Agent Valuation Training 394

Appraisal Buzz

MAY 10, 2021

Appraisers are paid for their opinion. Because of that, we’ve modified the Appraisal Buzz website to give appraisers a playground for open discussion. If you haven’t had a chance yet to check it out, take some time to hit us with your opinions in the Appraisal Buzz forum. We’d love to help you get signed on.

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Housing Wire

APRIL 30, 2021

Now, more than ever, sellers have a chance to get more money for their homes. But what happens when the seller accepts that high offer and the home appraisal comes in far lower? . What is an appraisal gap? Before purchasing a house, a buyer’s lender will hire an appraiser to appraise a home. compared to last year.

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The Appraiser Coach

DECEMBER 5, 2023

No matter what we think, people are not the creatures of logic and reason we like to think we are. I had gone over to do an inspection for him, and we got to talking about how he had had another guy come through earlier to do an appraisal of his home. Real-estate agents, homeowners, appraisers – we’re all human.

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Appraisal Buzz

MAY 17, 2021

During the 2007-10 mortgage default meltdown, appraisals were a target of complaints and allegations by lenders, the GSEs, some state appraisal boards, and a few unscrupulous entrepreneurs. Many allegations related to appraisals that used inappropriate comparable sales that were used to “make” a deal work.

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Cleveland Appraisal Blog

AUGUST 20, 2021

If you’re not an appraiser, if you are trying to figure out the value of a home, chances are good that you use a price per square foot metric. If someone wants to use this method for pricing a home, there is one piece of information that is incredibly important to get right. Last year, I appraised a home for a homeowner.

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Housing Wire

OCTOBER 25, 2023

However, Blefari said that those are just ranges, and he cited appraisal fees being waived or points on the mortgage as reasons why commission fees could change. Blefari was cross-examined by Michael Ketchmark, the lead attorney for the plaintiffs. “Maybe the local company or the MLS does, but we don’t,” Blefari testified.

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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? New products speeding up the process.

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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. Mortgage lending work is only one type of business where appraisals are needed. Mortgage lending work is only one type of business where appraisals are needed.

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Housing Wire

OCTOBER 27, 2020

It’s just one of the many reasons to think long and hard about making a contingent offer. These contingencies are all designed to protect you as a borrower — to make sure you’re getting a safe and habitable property, that you have the funds to pay for it, and that you’re not stuck paying two mortgage payments at once. The bottom line.

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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! Learn about all of the new features in RemoteVal – a free inspection app for appraisers!

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Housing Wire

MAY 27, 2022

Creditors who use complex algorithms — including artificial intelligence or machine learning technologies — to engage in credit decisions must still provide a notice that discloses the specific, principal reasons for taking adverse actions,” CFPB said in a news release. The requirement also applies to mortgage lenders, legal experts say.

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Cleveland Appraisal Blog

SEPTEMBER 2, 2022

Have you ever read thru an appraisal report? 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. When completing an appraisal, there may be four values.

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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. There are many benefits to hiring an expert to measure your home, and there are two most obvious reasons for that. One is putting your home on the market.

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Housing Wire

MAY 22, 2023

So [they are]really focusing on getting that property at this time, because during recessionary periods, inflation periods, the price of goods goes up, which means values go up. Keelin, who has more than 15 years of experience, joined CrossCountry in April from New Jersey-based Family First Funding , where he spent more than six years.

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Housing Wire

FEBRUARY 9, 2021

When you go to buy a home , your mortgage lender will almost always order a home appraisal. 5 reasons to refinance your mortgage right now. Here’s how to get an instant offer on your home. Scenario 1: Your home appraises at your full offer price. Many times, the home appraisal goes off without a hitch. The purpose?

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The Appraiser Coach

OCTOBER 10, 2023

How did you become an appraiser? Maybe it was your dream career ever since you knew what appraising was. If that’s a big reason why you do what you do, are you taking advantage of that why? What are some things you need to do but the world gets in the way? Maybe you just stumbled upon it. Can you plan around that?

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Appraisal Buzz

OCTOBER 18, 2021

This article was originally published in the Fall 2021 Appraisal Buzz Magazine here. Our profession has been abuzz the last year or two with regards to the GSEs being mandated to modernize the appraisal profession. Why are appraisers essentially being excluded from the conversation about modernizing the profession?

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Appraisal Buzz

DECEMBER 20, 2021

It quickly became apparent that the health risk would prevent professional fee appraisers from entering properties in order to inspect them for their appraisal reports. The second approach allowed appraisers to make use of other available technologies to complete their reports. The industry was on the cusp of a serious crisis.

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Housing Wire

NOVEMBER 30, 2023

Wondering how to get a real estate license in Ohio in 2024? Requirements to get a real estate license in Ohio Before you enroll in the required 120 hours of sales associate prelicensing education, you’ll need to know some of the requirements for obtaining an Ohio real estate license. minutes per question!) minutes per question!)

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Cleveland Appraisal Blog

SEPTEMBER 21, 2023

Frankly, much of my work has been time-consuming for many reasons, including trying to measure different markets in this interesting time. I’m working on getting my creative writing juices flowing again. Anastasia Corjan reached out to me a little over a year and a half ago to invite me to be an Appraisal Ambassador for them.

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Housing Wire

FEBRUARY 8, 2022

Desktop appraisals arrived in March of 2020, allowing the housing market to keep humming while many stayed indoors to prevent the spread of COVID-19. Allowing appraisals without a walk-through was one of several flexibilities the Federal Housing Finance Agency allowed in light of the pandemic. Scott Murphy, CEO of D.S.

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Appraisal Appraisal Process Valuation Renovations 370

The Appraiser Coach

JUNE 20, 2023

This is all within reason, of course. Taking that time off of work gave me time to think and get my creative juices flowing. Freedom doesn’t mean you get to choose the results of your choices. I think I’ve talked to you about my definition of wealth before. It’s not having a sports car or a big fancy house.

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Business Appraisal Inspection Advertising 195

Housing Wire

FEBRUARY 21, 2023

The industry is buzzing with conversations around appraisal modernization — for good reason. Appraisal modernization reduces origination cycle time, bolsters appraiser capacity and helps lenders deliver a more seamless and transparent borrower experience. Today is a different day.

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Appraisal Buzz

FEBRUARY 7, 2022

Fannie Mae announced on January 19, 2022 that they will be accepting desktop appraisals for eligible loan transactions. The team at Fannie Mae were the first to announce requirements lockstep with their Regulator that desktop appraisals will become a normal part of the appraisal product landscape. Appraisal Labels.

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Cleveland Appraisal Blog

APRIL 21, 2022

It’s tax appeal season and I’ve had several homeowners say that they feel their neighbors are negatively impacting the value of their home for different reasons. Part of our work as appraisers is to consider whether situations like this are influencing the market value of the home we are appraising. Is that the case?

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Cleveland Appraisal Blog

JULY 16, 2022

The first step in determining what kind of home you can afford to purchase is having an accurate appraisal. An appraisal is the estimated value of a home that is based on an inspection. If you’re in the greater Cleveland area, contact Jamie Owen, a state-certified residential real estate appraiser at Aspen Appraisal Services.

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Appraisal Contracts Property Taxes Investing 298

Appraisal Buzz

SEPTEMBER 26, 2022

This article was originally published in the latest edition of the Fall 2022 Appraisal Buzz Magazine! They could get rich by “selling money!” They were able to get others to declare the value as fair, but some valued fair as high as possible. Also part of the definition: Reasonable market exposure time. Value was price.

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Housing Wire

APRIL 20, 2021

The public response to the recent Federal Housing Finance Agency (FHFA) Request for Information on appraisal-related issues was significant, with 164 unique written comments. ” From the National Association of Home Builders (NAHB): “NAHB is a strong proponent of a sound and effective appraisal industry. .”

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Technology Appraisal Valuation Lending 397

Cleveland Appraisal Blog

AUGUST 20, 2021

If you’re not an appraiser, if you are trying to figure out the value of a home, chances are good that you use a price per square foot metric. If someone wants to use this method for pricing a home, there is one piece of information that is incredibly important to get right. Last year, I appraised a home for a homeowner.

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Appraisal Market Value Contracts Agents 263

Appraiserblogs

OCTOBER 12, 2022

The government wants to move to a fully automated appraisal format, and the more that they can dirty the narrative in their favor, the quicker they get to their objective… This just in: In a recent memo, the CFPB wants you to know that if you are buying a home, that you can contest your appraisal. This isn’t new. Not at all.

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Housing Wire

AUGUST 6, 2021

But as the world slowly gets back to normal, mortgage rates have slowly been rising. One of the reasons why people refinance is to obtain a lower interest rate. For example, to refinance a mortgage you’ll have to pay an application fee, appraisal fee and maybe even attorney fees depending on where you live.

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Cleveland Appraisal Blog

MAY 26, 2023

Most weeks I perform appraisals for divorce or a marriage dissolution. In recent years, on several occasions, I have been hired to appraise a property after a valuation service was provided for my client by another real estate professional. But then they had to hire me to perform an appraisal. That’s right!

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Appraisal Buzz

AUGUST 16, 2021

Like many busy appraisers, I can spend a lot of time in my own little world just trying to keep my head above water. Lately, though, I’ve been trying to carve out some extra time to find out about what other appraisers are saying and doing in this unusual market. If I’m starting to lose you at this point, stick with me.

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