Unanswered Questions – Part 2By Brent Bowen, Appraisal Buzz, 20 Sep 2021Excerpt: This is the second article in a series which discusses some difficult theoretical questions with which appraisers have been confronted in a very practical way. This article will pick up where the last one left off, so you will definitely want to read Part 1 of this series before continuing. With that said, let’s move forward with the second question: How do I reconcile comparables with a wide range of adjusted sales prices? Appraisers are confronted with many questions from the homeowners to the AMCs/lenders/clients. Have a base knowledge and understanding of profession is a must and continuous awareness of the changes in the housing market, lender expectations, etc. is always a challenge. Experience does have its merits but being up to date is key to growth.
From the Outside In: What Do Home Appraisers Look For In a House?By Valerie Kalfrin, HomeLight, reposted 07 Sep 2021Excerpt: “Appraisers have a very hard job,” says Paul Fonseca, a top-selling agent in Fort Myers, Florida, with 23 years of experience working with residential appraisers. “They’re ultimately trying to confirm that the contract price is fair for everybody—the buyer, the seller and the bank, because the bank’s lending the money.” Though this article is dates, it is very relevant to the home buyer on what the Appraiser is observing during their inspections. As the Appraiser is biased in their observations, their opinion to value can be influenced by what they see. Many experienced Appraisers can see obvious signs of what impacts the opinion of value – sorry, a plate full of homemade cookies won’t impact but they are appreciated.
Cipher RetirementBy Fannie Mae, posted 07 Sep 2021Excerpt: If you are a technology, service, integration, or other provider who supports lenders, mortgage brokers, or other organizations in doing business with Fannie Mae, please work with them to ensure the appropriate updates are made in both their and your systems to avoid operational issues. Changes are being made effective November 19, 2021. Stay informed and up to date.
Simple SEO Strategy for Appraisal Business WebsitesBy Mike Jacobs, Appraiser Sidekick, posted 07 Sep 2021Excerpt: One of the easiest and most cost effective methods to get clients for your real estate appraisal business can be through your business’ website. In order to do this, you simply need a quality website that has good SEO. Let’s see how this is done.First, your website needs to be professional and look modern without frivolous functionality that distracts your potential client. Most real estate appraisers’ websites fail. You need to give your potential client a reason to contact you. Remember, your website offers “curb appeal” to your business, so be honest with yourself – does your website appropriately represent your business by the way it looks and with the content that it contains? As most Appraisers are independently owned, a website is essential for credibility and public awareness. A website reflects the Appraiser, and a substandard website is not acceptable. A website is part of the business and should be updated and maintained properly.
Why Are Car Prices So High? The Issue Goes Beyond Chip ShortagesBy Josephine Nesbit, GOBankingRates, 07 Sep 2021Excerpt: Supply shortages only seem to be getting worse. Relief from the microchip shortage may not be on the horizon, as a surge in COVID-19 cases from the delta variant in several Asian countries that produce auto-grade chips is delaying a return to normal production. Analysts are now saying that these record-high consumer prices for vehicles — including new, used and rental cars — may not come back down until 2023, AP News reports. Those car prices have nothing to do with real estate appraising, directly. A dependable vehicle to assist the Appraiser in their duties is essential and paying more for a vehicle affects the bottom line.
DEAR HUD… What’s Your End Game?By Mark Skapinetz, Appraisersblogs, 07 Sep 2021Excerpt: Dear HUD, recently, within the past year or so, you have been on a crusade to prove discrimination and racism in the appraisal process. Your actions haven’t gone unnoticed by many within the appraisal profession as well as outside it. It’s become clear that you are the go to organization for complaints. Ok. Please read this in its entirety and see my thoughts at the end before making a judgement. Government agencies are beginning to influence the housing market through political pressure. HUD is one of these government agencies. HUD is creating additional criterial for Appraisers stemming from speculation without credibility.
Couple Find Massive Basement Behind a Hatch After Buying 1904 HouseBy Rebecca Flood, Newweek, 15 Sep 2021Excerpt: A couple discovered a massive basement hidden behind a hatch in their new house, which is tall enough to stand in.Katie and Robin snapped up the semi-detached property, originally built in 1904, in Kettering, in the U.K., and moved in last December.The pair have been sharing the restoration journey to their TikTok and Instagram accounts, as they painstakingly sand floors, cut tiles, hack off cement and redecorate. One never knows what they will find in a home. These mystery rooms tend to pop up with older built homes. As an appraiser measures the exterior and the interior of a home, these ‘spaces’ tend to present themselves, good and bad.
The Appraisal Report Webinar Webinar | RemoteValBy AI, Bryan Reynolds, Josh Walitt, and Mark Walser, posted 07 Sep 2021Excerpt: Join Bryan Reynolds, Josh Walitt, and Mark Walser for a FREE webinar about RemoteVal, an innovative new tech tool that might just be Next Big Change in our industry. Hint: It's not a hybrid. It's a remote inspection. It's appraiser controlled. And it just launched at Val Expo earlier Future YouTube on RemoteVal. Another ‘shortcut’ to obtaining valuation being introduced. Hybrids, drive-bys, AVM, etc. are creative ways to decrease the appraisal fee for a valuation.
DataMaster for AppraisersBy DataMaster, posted 21 Sep 2021Excerpt: The gold standard of appraiser software. Our flagship tool will help you save an hour per report. Let us move your data so you can analyze it. Utilizing different sources to enhance and support your Appraisal Report is essential in keeping your product relevant. There are many sources or products that do auto-populate data into your report, but remember you are still responsible for the data that is in your report. If auto-populating all your data without appraiser input or analysis is nothing but an AVM.
Shop our newest offers and innovations - SamsungBy Samsung, posted 21 Sep 2021Excerpt: For a limited time only, on Samsung.com/Shop Samsung App, pre-order or purchase a new qualifying Galaxy device (“Qualifying Purchase”), send in your qualifying trade-in device to Samsung through the Samsung Trade-In Program, and if Samsung determines your trade-in device meets all eligibility requirements, you will receive a trade-in credit specific to your qualifying trade-in device to apply toward your Qualifying Purchase. The use of a computer, software, laser measuring device is all good but having a reliable cell phone should be the number one tool in the appraiser’s arsenal. I tend to update every couple of years as technology advances. Balancing price with proficiency is challenging with new devices.