September 2011

What Does An Appraiser Really Do?

September 20, 2011 Appraisal
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Sometimes I think we appraisers don’t take enough time to explain to the public what it is that we really do. There are also clients (lenders) that have very specific instructions not to talk to the borrower(s), which can be very awkward when a homeowner wants to know what you’re doing. Reminds me of when I […]

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Create Credible Appraisals or Else!

September 10, 2011 Appraisal
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I recently had a conversation with a very seasoned loan broker who told me, “…appraisers don’t have much to worry about when it comes to appraising, because it’s just your opinion”, meaning how can anyone really challenge an opinion of value. In one respect he’s correct, it’s not the opinion of value that is challenged, […]

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Low Appraisals

September 9, 2011 Appraisal
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It’s always frustrating, if not maddening, when the appraisal comes in low on a sale of a home. Buying a home is very emotional for both buyers and sellers, and the last thing anyone wants is some appraiser telling the parties involved that the home isn’t worth what they agreed upon. Personally, I don’t know […]

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Appraisal Changes-UAD

September 1, 2011 Appraisal
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Big change start today, known as UAD, in reporting appraisals for the GSE’s (Fannie Mae, Freddie Mac); the biggest takeaway so far is that homeowners should have a detailed list with the dates of their completed updates. Appraisers are being required to put quality ratings (Q1-Q6), as well as condition ratings (C1-C6), which are supposed […]

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