Appraisal

Home owners who live near a foreclosed property have lost, or stand to lose, about 7.2 percent — or $21,077, on average — of their home’s value, according to a new report.

Seventy-five percent of home owners say they think their home is worth more than the agent’s recommended list price, but the majority of buyers say prices are too high, according to a new survey.

Low housing inventories in many markets have sparked bidding wars that have pushed home prices up higher than recent comparable sales. But low appraisals then threaten to derail the deals, agents say.

A valuation company boasting a field network of 30,000 brokers, appraisers, and vendors in every major market in the U.S. announced that it has shut down operations.

Beginning in the latter part of 2012, a number of REALTORS® across the country reported that Fannie Mae had started jeopardizing short sale transactions by requesting purchase offers at significantly higher prices than market values. REALTORS® continue to report that Fannie Mae’s actions have led to a decrease in the number of Fannie Mae short sale transactions, an increase in the number of borrowers going through foreclosure producing further negative effects on surrounding property values. As a first step to ...

Advocacy Agenda

The REALTOR® legislative and regulatory agendas focus on efforts to stimulate, stabilize, and strengthen real estate markets across the nation while protecting the business interests of members. A fundamentally sound and dynamic U.S. real estate market is an essential component of the American economy and fosters vibrant communities in which to live and work.

The National Association of Realtors® represents approximately 30,000 state-licensed and certified appraisers throughout the country.  NAR’s Responsible Valuation Policy states that… Read More Continue Reading →

 A bad neighbor can bring down the value of a home, possibly by even up to 10 percent, according to the Appraisal Institute.

The Appraisal Foundation has begun its annual search for qualified candidates to serve on the Appraisal Practices Board (APB). Completed applications are due April 2, 2013.

Appraisals

An appraisal is an opinion of value used for real-estate-related financial transactions. Appraisals are required by a state licensed or certified appraiser for most transactions above $250,000. An appraiser’s report will typically include the type of property inspection, approaches to value required, and any lender-specific requirements.¹

The National Association of REALTORS® represents approximately 30,000 state-licensed and certified appraisers throughout the country. NAR’s … Read More

Certified residential appraiser and REALTOR® Melanie McLane discusses new Appraisal Qualifications Board (AQB) standards that go into effect in January 2015.