2022

An open letter to sellers about today’s housing market

Sacramento Appraisal Blog

Dear Sellers, How are things? I hope all is well. It’s been such a crazy market, but things are starting to change. So, let’s chat. This is coming from a good place, and it’s based on observations and what I’m hearing from real estate professionals.

The Digital Transformation of Appraisal Data

Appraisal Buzz

“We tend to overestimate the effect of a technology in the short term and underestimate the effect in the long term.” This is the little-known Law of Amara that describes how we perceive the impact of new technology on our lives.

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Do Appraisal Gap Clauses Impact Appraisals?

Cleveland Appraisal Blog

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.

Housing completion data is now savagely unhealthy

Housing Wire

Housing construction in the U.S. during the brief COVID-19 recession, to that recovery, and now in the new housing recession, is going to go down in history as one of those crazy data lines we lived through. Just to give you some perspective here, at the peak of 2005, we had about 2.24

Less Isn’t Always More

The Appraiser Coach

I’ve been asked how much should be filled out on site during a mobile appraisal. I know there’s a lot of ways out there to do this; there are almost. Read More.

Is this a Time of Ripeness?

George Dell

This week’s blog, Is this a Time of Ripeness? is a guest post written by Steven Smith, MSREA, MAI, SRA, AG. See below for a more detailed bio. Appraisal sins are forgiven when the markets are strong, and prices are increasing at double digit rates as they have been.

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The housing market has shifted

Sacramento Appraisal Blog

The housing market has shifted over the past month. That’s what the stats are showing, and it’s what we’re hearing from the trenches.

New Home Construction Expectations for 2022

Appraisal Buzz

The housing market boomed in 2021 like few could have expected. What is on the horizon in 2022? Home prices are rising to record highs , and many policymakers and industry professionals have begun turning to building to ease shortages.

Market Correction or Seller Panic?

Appraisal Buzz

Unless you’re living under a rock, you have heard that interest rates have been rapidly increasing since Q1 of 2022. The average 30-year fixed rate mortgage rate was its lowest ever at 2.65% on December 31, 2021.

Saying goodbye to the hottest housing market ever

Sacramento Appraisal Blog

The housing market sizzle has faded and we’ve entered a different season. We’ve basically said goodbye to the most aggressive housing market ever, and we’re in a new market now.

Will the Infrastructure Bill Affect the Real Estate Market?

Appraisal Buzz

The housing market has experienced a turbulent few years, so what can industry experts expect in the future? You can pay attention to many indicators, but the recent infrastructure bill will reveal the most crucial information. These are a few ways it will affect real estate in the coming months.

Advantages of Starting Your Business in Cleveland

Cleveland Appraisal Blog

Are you considering starting a business in the Cleveland area? I moved from Denver, Colorado to the Cleveland area in 1996. It’s a great place to start a business! This week I welcome back guest blogger Seth Murphy who shares some advantages of starting a business in the Cleveland area. Enjoy!

Maintain that Workfile

Appraisal Buzz

Real property appraisers have had quite a bit dumped on them in the past couple of years. The uncertainty, turmoil, and government interest in oversight and intervention caused by allegations of racial and ethnic bias in real property appraisal is cause for concern.

Are we seeing a mortgage rate lockdown?

Housing Wire

The premise of a mortgage rate lockdown is simple: so many American households have such low mortgage rates that some will never move once rates rise, which then locks up housing inventory.

When There’s No Comparison

The Appraiser Coach

If you’ve been a part of the appraisal world for long, you’ve had this experience. You’ve just submitted a completed report that you feel pretty good about. Soon afterward, however, Read More.

Part 0: How Do We Fix the Excess of Appraisers?

George Dell

How can we fix the excess of appraisers? Easy — we do what we have always done, each time. 1) We will raise the standards (“cost of entry”). 2) We will make it harder to become an appraiser; 3) Let the lower fees discourage newcomer appraisers. In past issues of the Analogue […].

Handling Non-Linear Market Changes

Appraisal Buzz

This year has felt like riding a roller coaster…in the dark…facing backwards. Some of the changes are probably specific to my market, but others will be familiar to most of you. The shifts in supply and demand have been rapid and not always easy to predict.

A View on Risk: Desktop Appraisals

Appraisal Buzz

It appears the FHFA is making good on their promise. Fannie Mae announced on January 19, 2022 that they will be accepting desktop appraisals for eligible loan transactions.

These Are The Best Cities for Real Estate Investment

Appraisal Buzz

Due to the explosion of real estate prices over the past few years, more are looking to diversify their investments by expanding into real estate.

Fannie Mae is Bullish on Appraiser Trainees

Appraisal Buzz

Appraisers who have had the opportunity to participate in an appraiser conference recently have probably noticed a recurring theme from Fannie Mae – the importance of supervisory appraisers training the next generation of appraisers. Why is this so important to us?

Buyers take power from sellers. It’s their turn.

Sacramento Appraisal Blog

Finally. Buyers are gaining power. And sellers are losing it. I have some new visuals to show what the market is doing right now. These are for Sacramento, but I suspect many areas look similar.

As the Pandemic Wanes, Remote Work Will Remain Popular

Appraisal Buzz

According to Arch Mortgage Insurance Company (Arch MI), a Greensboro, North Carolina based company offering risk management and financial institutions to mortgage lenders, 2022 was nothing short of an amazing year for the housing market.

Is A Cubicasa Scan an Inspection?

Cleveland Appraisal Blog

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?

Protected: Accurity Consolidated Hires Tony Reese as Chief Production Officer

Appraisal Buzz

This content is password protected. To view it please enter your password below: Password: The post Protected: Accurity Consolidated Hires Tony Reese as Chief Production Officer appeared first on Appraisal Buzz. Career Buzz & Press Releases accurity consolidated

Federal judge rules in favor of FHFA on net worth sweeps

Housing Wire

The Federal Housing Finance Agency (FHFA), which oversees Fannie Mae and Freddie Mac , has been granted summary judgment on the last remaining claim by investors in a lawsuit alleging the government overstepped its authority when it adjusted its stock-purchase agreements with the agencies and allowed net worth sweeps.

Legal 386

Smart Inspections

The Appraiser Coach

I was recently contacted by an individual with a question. This woman said that she has been using an iPad for years to do her mobile inspections, but had heard. Read More.

Bias: Blame the Messenger?

George Dell

The messenger. Psychology research easily points out our tendency to dislike the bearer of bad news. It’s also intuitive. Bad news messengers do not smile when they bring the news. Sometimes they even look guilty. We humans can be really basic.

Send Us Your Crazy Appraisal Stories!

Appraisal Buzz

This article was first published in the Appraisal Buzz Magazine. If you have shared a story with us in the past that was never published, please resend it. Your story could be one of the best this time around! Send your stories to comments@appraisalbuzz.com.

Accurity Consolidated Sets Impressive Goals, Shatters Records

Appraisal Buzz

HOUSTON, TX (July 6, 2022) – Accurity Consolidated is once again turning heads and taking its place as the highlight of appraisal industry conversations. The company’s innovative team of appraisers continue to set impressive goals and break records that are simply unheard of among the competition.

Opendoor is struggling in Sacramento

Sacramento Appraisal Blog

Opendoor has been losing big lately in Sacramento since the market shifted. I thought it would be interesting to take a look at their activity over the past few months since I’m getting so many questions about them. This is not about throwing shade, and I’m not writing as a fanboy either.

Advice for buyers & sellers in today’s housing market

Sacramento Appraisal Blog

The housing market has shifted, and today I have some practical advice for buyers and sellers. This is coming from hundreds of conversations every month as well as stats I’m pulling. Some new memes too. Enjoy if you wish.

What Is a Reconciled Value?

Cleveland Appraisal Blog

Have you ever read thru an appraisal report? You may have noticed that there are three approaches to value. The Sales Comparison Approach, the Cost Approach, and the Income Approach.

What Impact Will the Infrastructure Bill Have on the Housing Crisis?

Appraisal Buzz

The United States is currently in what many consider to be a housing crisis. Market prices for purchased and rented homes are through the roof, with no clear end in sight. More people are searching for homes than there are houses available.

A spike in listings & sitting on the market

Sacramento Appraisal Blog

The pile of listings is growing, and it’s taking longer to sell. That’s what so many housing markets across the country are experiencing right now. We’re on the cusp of seeing some real change in the stats over the next few months. Here are some things on my mind. Anything to add?