Housing Wire

AUGUST 2, 2023

Government-sponsored enterprise Fannie Mae this week released new updates to its appraiser independence requirements (AIR), and also established new property data independence requirements (PDCIR) simultaneously. Lenders typically use appraisal management companies (AMCs) to transfer the compliance burden associated with AIR.

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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. At Tavant , they’re taking a look at the past and present of appraisals to prepare for a better future. We often hear the statistic that the average appraiser is a 57-year-old white male.

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Housing Wire

JANUARY 24, 2022

That was the startling and totally hypothetical analogy made, based on the current structure of the Appraisal Foundation , in a scathing report released this week. Until recently … the appraisal industry seems to have escaped the type of regulation and scrutiny faced by other participants in the mortgage market,” the authors wrote.

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Housing Wire

MAY 13, 2021

Sheridan’s listing appraised at the contract price, and the deal went through without a hitch. The challenge is that the sales data you’re looking at is dated,” said Shawn Telford, chief appraiser at CoreLogic. “The The post How appraisers value homes in a hot housing market appeared first on HousingWire.

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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. Scenario 1: Your home appraises at your full offer price. Many times, the home appraisal goes off without a hitch. You make an offer on your dream home, and the appraiser verifies the property is worth what you offered (or more).

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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. Why use several vendors for title searches, appraisals and underwriting when you can use one?

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Housing Wire

DECEMBER 14, 2021

Appraisers are not supposed to base their analysis on protected classes, and in the Uniform Residential Appraisal Report, appraisers attest that “race and the racial composition of the neighborhood are not appraisal factors.” Still, there were a number of troubling examples — although the report does not specify how many.

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Housing Wire

DECEMBER 6, 2021

A San Rafael, California real estate appraiser is being sued for allegedly undervaluing a home by almost 50% because the homeowners are Black. Miller of Miller & Perotti Real Estate Appraisal and AMC Links LLC , an appraisal management company headquartered in Lehi, Utah.

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Housing Wire

FEBRUARY 24, 2023

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. Another common theme is reducing the amount of subjectivity within the appraisal forms and data standard.

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Housing Wire

DECEMBER 7, 2021

Fortunately, many of the tech solutions that were born out of the pandemic are here to stay, including desktop appraisals which the Federal Housing Finance Agency recently announced will become permanent. . “On With desktop appraisals now a permanent option, we should expect to see some of the traditional pressure on turn times alleviated.

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Housing Wire

JANUARY 14, 2022

The tides of the mortgage industry are changing as we head into 2022, and just like the sand under the waves, we can expect the appraisal landscape to shift along with it. Appraisers, like many other service providers, must adapt to market changes to accommodate their clients’ needs. Appraisal demand from generators (i.e.,

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Housing Wire

FEBRUARY 18, 2022

Fannie Mae recently announced that it will begin to “include a desktop appraisal option in Desktop Underwriter beginning March 19, 2022. Automated Valuation Models (AVMs) are commonly used today in the mortgage industry to help support the appraiser’s concluded value. ” Amazing, right? ” Amazing, right?

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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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Housing Wire

JUNE 11, 2021

What’s the difference between a home inspection and an appraisal? 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. An appraisal is a valuation of a property by a third party.

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Housing Wire

JANUARY 14, 2022

Collateral valuation is a critical component of mortgage lending and the home sales process. The appraisal process is ripe for change, and we’ve seen an acceleration of innovation in the last two years. The post Lunch & Learn : The Role of Appraisers in the Future of Valuation appeared first on HousingWire. Get More Info.

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Housing Wire

JANUARY 10, 2024

It relies on examinations of agents’ sales for five major real estate firms in each of four geographic areas; out of a sample of 2,000 agents, 100 were selected randomly from each firm in each area. To Brobeck, the fact that so many agents rely on residential sales for occasional, marginal or supplemental income is a problem.

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Housing Wire

APRIL 30, 2022

Analyzing Comps can be a pain point for both the client and the appraiser. Neither goes inside the comps, and the data that’s generally available for these comparable properties is often scarce, incomplete, or inaccurate and much is provided from a person with a direct interest in the sale.

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Housing Wire

APRIL 26, 2022

The watchdog agency will also be working with other federal agencies to intervene in policies and regulation that could impact mortgage lenders and residential appraisers. Automated valuation models rely in large part on past sales, which would include valuations impacted by past racist housing policies.

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RIS Media

JANUARY 8, 2024

One of the most essential steps when buying a house or refinancing your existing home is the appraisal. Appraisals can make or break a real estate transaction. Appraisers have significant power in the role they perform for a mortgage lender. After all, their word is gospel.

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Keeping Current Matters

JUNE 29, 2021

Shawn Telford, Chief Appraiser at CoreLogic , elaborates : “The frequency of buyers being willing to pay more than the market data supports is increasing.”. While this is great news for today’s sellers, it can be tricky to navigate if the price of your contract doesn’t match up with the appraisal for the house.

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Housing Wire

MAY 2, 2021

To help mitigate these pain points, Incenter Appraisal Management is offering remote BPO and remote inspection capabilities paired with AVMs. These virtual solutions enable lenders and servicers to get their eyes on a property, regardless of whether they can appraise it in person – as long as the homeowner has access to a cell phone.

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HomeLight

FEBRUARY 15, 2024

So when it’s time to sell your home, you might be asking: Can you sell a house for more than the appraised value? In this post, we’ll share helpful insights about home appraisals, appraisal gaps, and how these figures play into your selling and pricing plans. Get Estimate What is a home appraisal, and how does it work?

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Keeping Current Matters

JANUARY 26, 2021

If you’re planning to buy a home, an appraisal is an important step in the process. In most cases, an appraisal is ordered by the lender to confirm or verify the value of the home prior to lending a buyer money for the purchase. Home Appraisal. Protect yourself by getting your investment appraised! Home Inspection.

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Realty Biz

JANUARY 4, 2024

One of the more researched topics in real estate is appraisals. Whether you are buying or selling a home, it is essential to have a firm grasp of home appraisals. From nearly forty years of experience as a Realtor, buyers and sellers should have at least a basic understanding of real estate appraisals and what they entail.

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Realty Biz

OCTOBER 13, 2021

But many have found that the tactic of making an aggressive bid to beat out other offers backfires, as the appraised value of the home falls well below the agreed price. Mortgage lenders will typically only lend the amount to cover the appraised value of the home, as opposed to what the buyer might think it’s worth. markets today.

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Keeping Current Matters

OCTOBER 25, 2021

Buyers in today’s market often have questions about the importance of getting a home appraisal and an inspection. Here’s a breakdown of what to expect from the appraisal and the inspection, and why each one can potentially save you a lot of time, money, and headaches down the road. Home Appraisal. But is that the best move?

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Realtor.com

JANUARY 11, 2021

Zinkevych / Getty Images If you’re buying a home, one of the (many) things you must check off your list is hiring a professional to do a home appraisal to assess the property’s value. But what if you check it off your list and then, for whatever reason, the home sale falls through—who pays the appraisal fee then?

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Housing Wire

NOVEMBER 28, 2023

Through the acquisition, ASG hopes to modernize the appraisal industry by providing innovative valuation products and solutions and complete new property data reports required by government-sponsored enterprises (GSEs). Terms of the ASG-Value Acceptance deal were not disclosed.

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Realty Biz

NOVEMBER 28, 2023

The home appraisal can be a major source of stress for homebuyers. Buyers have little to no control over it and are legally prohibited from trying to influence the appraisal. However, an unfavorable or error-ridden appraisal can sink the entire sale. That’s not true — what’s illegal is trying to influence the appraisal.

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RIS Media

JANUARY 4, 2024

Comps won’t always provide the right number, as professional home appraisers say owners often don’t take into account some subtle… The post 4 Things Real Estate Appraisers Say Your Sellers Must Know appeared first on RISMedia.

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Real Trends

SEPTEMBER 20, 2023

One of the final hurdles to clear is the appraisal , and it has the power to leave a deal dead in the water. What is a real estate appraisal? A real estate appraisal is the assessment of a property’s value. Appraisals are required for homes financed with any type of mortgage. Why are appraisals important?

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HomeLight

AUGUST 21, 2023

It’s natural to feel uneasy when the home appraiser shows up at your house. After all, there’s a lot riding on your home’s appraised value. If your appraisal comes out lower than you planned, it could end up delaying or disrupting your home’s sale. What’s the purpose of a home appraisal? Who is the appraiser?

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Realtor.com

OCTOBER 11, 2021

The gulf between contract prices and appraised values highlights the risks to buyers in the current market, especially those stretching their budgets to win a bidding war. The post Soaring Home Prices Are Roiling Appraisals and Upending Sales appeared first on Real Estate News & Insights | realtor.com®.

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HomeLight

OCTOBER 26, 2023

People looking to sell their homes often encounter two terms that both try to convey the value of their house: market value and appraised value. Get Estimate However, if a buyer’s lender orders an appraisal of the property, and the appraised value is lower than the asking price , the deal could fall through.

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RIS Media

OCTOBER 16, 2023

If all the many steps for buying or selling a home were like progressing chapters in a dramatic novel, the appraisal would be among the least engrossing, like a necessary but dull plot development that forwards the tale (transaction). It’s a must to include, even if there’s almost nothing about it that raises eyebrows.

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McKissock

JULY 27, 2021

As a real estate appraiser, you’ve likely encountered assignments in which the purchase price is not supported by the available comps. To find out, we asked appraisers, “What’s your top tip for defending your work when the appraised value comes in under sales price? ” Here’s what they said.

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Realty Biz

OCTOBER 20, 2023

However, amidst the excitement of finding the perfect property, there's a crucial step that many homebuyers might overlook or not fully understand - the home appraisal. In this article, we will take a closer look at why homebuyers might need a home appraisal and how this process can play a pivotal role in the real estate transaction.

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