Appraisal

The Federal Reserve Board has joined with five other federal regulatory agencies in proposing a new rule to impose appraisal requirements for loans secured by a borrower’s home and bearing interest rates higher than the average prime offer rate (APOR) for comparable properties and mortgages.

Higher-risk loans will now require creditors to use a licensed or certified appraiser who prepares a complete report on physical inspection of the property.  Applicants for a loan must be furnished a free copy of any ...

On June 28, 2012, Frank Gregoire testified before the House Financial Services Subcommittee on Insurance, Housing and Community Opportunity on behalf of the National Association of REALTORS^® (NAR).

Mr. Gregoire is an appraiser member of NAR and two-time Chair of the Appraisal Committee. The hearing was focused on appraisal oversight and the regulatory impact on consumers and businesses. NAR testified on concerns with the appraisal profession, particularly the role being… Read More Continue Reading →

Zillow accuses its chief rival of infringing on a patent for its Zestimate software.

Problems with real estate appraisals are still delaying and even derailing home sales, a recent survey of REALTORS® shows.

More studies are showing the power of green on boosting sales prices.

The Appraisal Institute is teaming with an energy agency to asses energy efficiency and green features on the value of existing homes.

WASHINGTON (October 10, 2012) – The real estate market is recovering but still faces hurdles, notably from tight mortgage credit, but problems with a sizeable share of real estate appraisals also are holding back home sales, according to survey findings by the National Association of Realtors®.

Most appraisers are competent and provide good valuations that are compliant with the Uniform Standards of Professional Appraisal Practice.  However, appraisals generally lag market conditions… Read More Continue Reading →

The top of the house shouldn’t be at the bottom of your list of things to be aware of. Learn about the pros and cons of different kinds of roofs.

Problems with low appraisals are causing more real estate professionals to include appraisal contingencies in their sales contracts.

NAR 2012 Vice President Gary Thomas discusses how appraisals have been affecting the home buying process, and talks about NAR’s advocacy for changes that will solve the problems that have been occurring.