Author Archive

Appraisers

Appraisers are licensed by the state and can be found through your real estate directory, real estate offices, or the bank. Appraisers often work for themselves, but also work for mortgage firms, real estate brokers, lenders, corporations, and government agencies. An appraiser is a professional who has the knowledge and expertise necessary to estimate the value of real estate. They typically work for individual clients and focus on evaluating one piece of real estate at a time, spending much of ...

What is a real estate appraisal you ask? When somebody gets one done they’re basically having their home or property valued at the going market rate. The appraiser will inspect the property or home and then give it a monetary value. This is done when people are planning to sell their house or property and would like to know what a fair asking price would be. However, some people also get the home valued for other things such as insurance, ...

Real estate appraisal for rental properties isn’t the same as for single family homes. If you were looking at a 24-unit building, it would be difficult to find similar ones nearby that have recently sold. Therefore, a market analysis using comparable sales isn’t normally used.

It is also not ideal to use replacement costs either. How do you figure replacement cost if there is no land for sale nearby with proper zoning? This is used as a secondary method, though, and ...

This communication was sent to Direct FannieMae Vendors (REO Appraisal Vendors) and covers a number of important instructions required for properly submitting REO appraisals. Please read it carefully and retain it for your reference.

DOM / CDOM / Subdivision Name
The new UAD format does not provide fields for Days On Market and Cumulative Days On Market (DOM/CDOM) nor the name of the Subdivision, which we request for comparables.

Effective immediately, enter DOM/CDOM and Subdivision Name on two of the blank rows ...

Appraisal Institute Applauds NAHB “Guidelines to a Stronger and More Productive Relationship with Appraisers”

The Appraisal Institute commends the National Association of Homebuilders for creating guidelines to foster increased cooperation and information sharing among professionals that play a key role in the home buying process.

NAHB recently announced guidelines to enhance builder communication with appraisers and lenders to help ensure reliable, credible valuation of newly built homes.

The guidelines suggest that builders meet with the appraiser at the home site and provide direct ...