AVMs (automated valuation models) offer an inexpensive, immediate and increasingly accurate real estate valuation option for all types of users, so it’s no wonder they are more popular than ever. However, there is a diverse offering of AVMs available, so understanding a few basic fundamentals about AVMs will aid your decision in deciding what type …
The commercial appraisal industry includes many outstanding professionals who produce excellent appraisals. But what do you do when an appraisal produces more questions than answers? Narrative commercial appraisals come in many formats and can range from very brief to rivaling War and Peace in page count. Many include a lot of charts, graphs, statistics and calculations, but …
What Differentiates a Well-Written Commercial Appraisal? Read More »
For decades, it was treated as an absolute certainty in the home buying process: if you need a home loan, you had to get an appraisal. It was just something you had to do. And it didn’t seem likely to change, considering the housing market is only a few years removed from the worst foreclosure …
We’ve talked here before about the importance of valuation or appraisal data integrity. We know that this was one (of more than a few) of the root issues at the heart of the subprime meltdown in the late 2000’s—investors suddenly found that they had portfolios with homes not only in default or foreclosure, but which …
Lost in The Headlines: Appraisal Fraud Risk on the Rise. What Are We Doing About It? Read More »
We recently wrote a piece suggesting that consumers be engaged in (or at least, informed about and aware of) the appraisal and valuation process. You can see that posting here. Of course, it’s always a good thing for the consumer to understand what he or she is getting himself/herself into. But there’s also an opposite extreme …
The GSEs recently announced a new policy that has stirred more than a little interest. Some have referred to it as a gateway to “appraisal-free” mortgages. Housing Wire has a great write up on the details here. Some are up in arms about the potential for the demise of the appraiser. They point to the need …
The quest for the digital, end-to-end mortgage experience continues on, having really heated up in the past 18 months. This is largely a positive development, in fact, maybe a necessary evolution for the mortgage industry. As painful as it is to admit, the process of getting a mortgage and into a new home is nowhere …
This one’s written to consumers, but really, the lessons can be applied to anyone involved with the mortgage transaction. After all, it’s everyone’s responsibility to see that a home purchase process goes smoothly and with authenticity! We’ve talked a bit lately about the importance of having “good data” behind a home valuation. In fact, the …
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