Town & Country Residential Appraisals

APRIL 17, 2023

The newest product Fannie Mae just rolled out is called valuation acceptance + property data. This is when someone, most likely not an appraiser, inspects the property for the lender and provides them with the property data. It is up to the lender to demonstrate the credibility of these property data collectors.

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Inspection Property Inspector Valuation Modernization 36

Appraisal Today

SEPTEMBER 22, 2023

NAR Member Survey on Data Collectors Excerpts: In May 2023, NAR surveyed its members pertaining to data collectors in the appraisal process. Survey respondents Sales agents accounted for the largest proportion, with 45% of participants holding this license. They should definitely not be paid the same.

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Appraisal Training Inspection Real Estate 85

Birmingham Appraisal

SEPTEMBER 28, 2022

Rather than involve the appraiser in the data collection part of the appraisal process this part is done by someone else. The reason behind this is that the appraiser should only be concerned with the process that he or she is best qualified to do and that is the analysis of the data to arrive at an appraisal value.

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Appraisal Property Inspector Training Real Estate Agent 59

Birmingham Appraisal

FEBRUARY 8, 2023

The only appraisal that use to be done, and that most people are familiar with, was a full appraisal by a licensed or certified person who would physically inspect the property and then write up the report and deliver it to the lender. Appraisal Waiver – An appraisal waiver is exactly as it sounds.

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Realtors Appraisal Market Value Real Estate Agent 77

Appraisal Today

FEBRUARY 23, 2024

In short, it’s not enough today to go back 90-180 days because there just aren’t enough data points in so many cases… WATCH THE MEDIAN TREND The median price for the region doesn’t translate rigidly to neighborhoods, so be careful about saying stuff like, “The median is up 3% this year, so neighborhood prices are up 3%.” Maybe not.

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Appraisal Real Estate Contracts Reconsideration of Value 67

Appraisal Today

APRIL 14, 2023

For many different reasons, properties can come on the market in less-than-par condition. Maybe a couple new terms should be discussed: “sweat equity incentive” and “sweat equity profit.” Appraising Fixer Uppers Excerpts: We’re all familiar with the term “fixer-upper.”

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Appraisal Bracketing Contracts Valuation 52

Clear Capital

OCTOBER 27, 2022

ACE+ PDR is Freddie Mac’s automated collateral evaluation (ACE) coupled with a property data report (PDR). ACE leverages Freddie Mac’s proprietary models along with historical data and public records to allow lenders to originate certain Freddie Mac-eligible loans without a traditional appraisal. ACE+ PDR saves lenders time.

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Training Modernization Inspection Valuation 69

Appraisal Today

OCTOBER 6, 2023

Our expert analysts validate the appraisal results by asking questions like “Do the comparable sale selections make sense?”, “Is the data accurate?”, “Did the appraiser make appropriate adjustments?” in context of a comprehensive database of property characteristics and market transactions. Lots of people wanted to be on the ASB.

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Appraisal Contracts Real Estate Mortgage 76

Appraisal Today

DECEMBER 15, 2023

Zillow first calculated a special Zestimate® for Santa’s one-of-a-kind property by using comparable homes in remote locations and adding a Santa premium. After AMCs took over – No trainees or licensed appraisers were allowed. AMC clients require AMCs to allow trainee or licensed, appraisers to sign. I trained one of them.

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Appraisal Contracts Business Mortgage 76

Appraisal Today

NOVEMBER 10, 2023

More Objective Appraisals: A Practical Guide for Appraisers By Scott Reuter Single-Family Chief Appraisal Officer, Freddie Mac Excerpts: Changing the Mindset – Facts First What’s the number one thing appraisers should be doing when they develop an appraisal? Property conditions can change over time. Stick to the facts.

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Appraisal Contracts Design Mortgage 62