Will hybrid appraisals become the new normal?

Housing Wire

The Federal Housing Finance Agency (FHFA) announced Monday it is requesting input on the appraisal policies, practices and processes of Fannie Mae and Freddie Mac, especially as it relates to the GSEs’ appraisal modernization efforts.

What is a home appraisal gap?

Housing Wire

When you go to buy a home , your mortgage lender will almost always order a home appraisal. A homebuyer’s guide to a competitive housing market. Scenario 1: Your home appraises at your full offer price. Many times, the home appraisal goes off without a hitch.

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In a hot housing market, gap between purchase price and appraiser condition ratings causes headaches

Housing Wire

Last week, HousingWire reported surging mortgage volume and record low interest rates are putting excess pressure on appraisal turn times. To consider an ROV, appraisers are most often willing to review and consider comps that are more recent, more proximate and more similar,” Johnson said.

UWM will partially refund borrowers for late appraisals

Housing Wire

United Wholesale Mortgage ( UWM ) unveiled a new policy this week, telling brokers that appraisals will be completed within 10 business days or they’ll refund 50% of the appraisal cost back to the customer.

FHA announces launch of new appraisal technology solution

Housing Wire

The Federal Housing Administration has announced an upcoming release of its FHA Catalyst: Electronic Appraisal Delivery module on the FHA Catalyst platform. The post FHA announces launch of new appraisal technology solution appeared first on HousingWire.

Is Now a Good Time to Upgrade Your Appraisal License?

McKissock

Is it time to take the next step in your appraisal career? A license upgrade can give you a much-needed advantage in the local market and offer you greater control over your fees and more stability in your work. If you’re thinking about upgrading your appraisal license, why wait?

Federal regulators finalize appraisal and capital liquidity rules

Housing Wire

These include one that temporarily defers appraisal and evaluation requirements for up to 120 days after the closing of certain residential and commercial real estate transactions, the release said.

Pressure to Hit the Purchase Price: 5 Resources for Appraisers

McKissock

As an experienced appraiser, you’ve likely encountered pressure to hit the purchase price or develop your appraisal based on a predetermined value. Webinar: The Market Value Doesn’t Support the Contract Price, Now What? Blog post: 9 Ways to Handle Appraisal Pressure.

4 Areas for Appraisers to Focus Their Professional Efforts in 2021

McKissock

The appraisal profession is aging. According to the 2020-2021 Appraisal Income Guide , more than 15% of certified general appraisers indicate they will retire in the next 6-10 years. Opportunities for future appraisers. Certified general appraisers (a.k.a.

What Appraisal CE Courses Are Trending this Month? (February 2021)

McKissock

Want to know which CE courses are trending right now among your fellow real estate appraisers? McKissock’s Unlimited Learning Members enjoy unlimited access to online appraisal classes and a variety of professional development videos, checklists, and other resources.

Home Appraisal: What to Know About House Appraisals

Maximum Exposure Real Estate

Understanding Home Appraisals Are you interested in understanding what to expect from your home appraisal? Real estate appraisals are an integral part of purchasing and selling a property, particularly if the buyer is seeking funding from a lender.

What Appraisers Look for During a Real Estate Appraisal

RISMedia

The home appraisal process can be a stressful time, whether you're buying or selling a property. It's the job of the appraiser to find the fair market value of the home. But if you know what appraisers look for, you […].

How to Become a Luxury Real Estate Appraiser

McKissock

Are you interested in learning how to become a luxury real estate appraiser ? There are many reasons to consider specializing in this profitable appraisal niche. Here are helpful tips on how to become a luxury real estate appraiser.

What New Appraisal Specialty Do You Wish to Break Into?

McKissock

Developing an appraisal specialty is a great way to grow your business and stay competitive in the industry. Last month we asked our appraisal community, “What new appraisal specialty or niche would you like to break into?” Review appraisal (23%). Luxury appraisal (9%).

4 Potential Benefits of Hybrid and Bifurcated Appraisals

McKissock

A major selling point for completing hybrid or bifurcated appraisals is that the appraiser will save a good deal of time by not inspecting the property, not taking photos of comparable sales, and not sitting in traffic. Benefits of hybrid and bifurcated appraisals.

Q&A: Is It Time to Take On an Appraisal Trainee?

McKissock

Appraisers are often reluctant to take on an appraisal trainee. They tend to assume that the trainee, once she earns the Certified Appraiser designation , will set up shop as a competitor. On the other hand, the appraisal industry needs fresh blood.

Global DMS transforms appraisal management software

Housing Wire

Finding an appraisal management software for real estate and commercial that works the way each individual lender does is difficult – usually resulting in time-consuming configurations, development work and training.

12 Types of Expert Witness Assignments for Appraisers

McKissock

There are many types of litigation where real estate appraisers can be helpful in providing evidence to the court. Many of these will require engaging the appraiser to perform an appraisal specifically for the case. Appraiser negligence.

Appraising the Weird Stuff: Observations from a Seasoned Florida Appraiser

McKissock

During that time, we’ve offered several courses on appraising “oddball” or “complex” properties. Despite the rise of AVMs in recent years, these types of assignments continue to require competent, boots-on-the-ground residential appraisers.

20 Motivational Quotes for Appraisers and Small Business Owners

McKissock

To achieve your goals as an appraiser or small business owner, you’re going to need to stay motivated. What appraisal skills do you want to focus on improving? Free Download: Your Guide to an Appraisal License Upgrade. Looking to advance your appraisal career?

Refinance Appraisal vs Purchase Appraisal: Is There a Difference?

HomeLight

Now you’re confused because you need a refinance appraisal, but you just got a purchase appraisal before being approved for a mortgage — is there a difference between a refinance appraisal vs. purchase appraisal? What do appraisers look for?

Top Appraisal Skills to Sharpen in 2021

McKissock

What New Year’s goals do you have for your appraisal business? Last month we asked our community of real estate appraisers, “What appraisal skill would you most like to improve in 2021?” What appraisal skill would you most like to improve in 2021?

What’s the Difference between an Appraisal and a Home Inspection?

Keeping Current Matters

If you’re planning to buy a home, an appraisal is an important step in the process. It’s a professional evaluation of the market value of the home you’d like to buy. Home Appraisal. Protect yourself by getting your investment appraised!

Do You Need a College Degree to Become an Appraiser?

McKissock

Consider becoming a real estate appraiser. ” and “How much money can you make as an appraiser?” What are the requirements to become an appraiser? To become a licensed real estate appraiser, you must pass the National Uniform Licensing and Certification Exam.

Cosmetic vs. MPR Repairs: Guidance for FHA Appraisers

McKissock

the intended users for an FHA appraisal report are FHA and the mortgagee. FHA appraisals are not a guarantee that the property is free from defects. The appraisal establishes the value of the property for mortgage insurance purposes only. Need to renew your appraisal license?

2020 Housing Market Recap, 2021 Housing Predictions, and More Appraisal News

McKissock

The 2020 housing market will end the year as the highest performing sector of the U.S. Next year’s 2021 housing market will remain strong as the economy recovers from the COVID-19 recession. Read on for the latest in appraisal industry news.

Appraising Industrial and Flex Buildings: What Info Do You Need?

McKissock

Why might you be engaged to appraise a single or multi-tenant industrial or flex style office building? What information do you need when appraising industrial and flex buildings ? There are any number of reasons why you would be engaged to appraise an industrial or flex style property.

How to Handle the Weird Stuff: Appraisal Methods from an Experienced Florida Appraiser

McKissock

In the past two blog posts in this series, I discussed the pros and cons of complex appraisal assignments and why today’s residential appraiser may want to consider specializing in “odd” or “atypical” assignments. Market conditions. Specific appraisal methods and techniques.

The One Business Skill Every Appraiser Needs to Master

McKissock

We recently asked our appraisal community, “What ONE business skill does every appraiser need to master?” ” According to real-life appraisers, several business skills are important. What ONE business skill does every appraiser need to master?

Factors That Determine Your Home Appraisal Value

Maximum Exposure Real Estate

What Affects Your Homes Appraised Value? Are you wondering what will determine your home’s appraised value? Dealing with the house appraisal process is part of most real estate transactions, whether you are buying or selling a home.

Understanding Residential Appraisals: The Homeowner’s Essential Guide

HomeLight

Waiting for the results of a residential appraisal can make you teeter between anxiety—“They said our house is worth what?”—and Yet as important as an appraisal is on the way to the closing table, many homeowners tend to misunderstand the overall process. “A Home Appraisals Logistics

Pros and Cons of Complex Property Appraisal: Insights from a Florida Appraiser

McKissock

In my previous blog post , I observed that specializing in complex property appraisal can be very profitable for the residential appraiser—in Florida and all across the U.S. Market conditions. Again, examples could include, but are not limited to: Declining market.

What to Do When Your Appraisal Is Under Review

McKissock

Residential appraisers will often—if not just about always—have their work reviewed by another appraiser. Usually, this is a routine procedure that the original appraiser barely notices. I correspond with appraisers across the county on a daily basis,” he reports. “It

5 New Year’s Goals for Appraisers and Small Business Owners

McKissock

Here are five New Year’s goals for real estate appraisers and small business owners to pursue in 2021. As an appraiser or small business owner, you’re always looking for ways to increase your productivity so that you can complete more assignments and earn more income each month.

How Much Does a Home Appraisal Cost?

Redfin

From the days of saving for a down payment, searching the housing market for your dream home, homeownership is almost in sight. So whether you’re a seasoned homebuyer or a first-time homebuyer , you’ll need to plan for a home appraisal before you can get final approval for your mortgage. .