If a mortgage lender acquires the title to a property as the result of a foreclosure, the property is called an “REO” property, which is short for “Real Estate Owned.” REO properties represent business opportunities for appraisers, as property valuations may be needed for…
On March 25, 2020, McKissock Learning hosted a webinar in which appraisers were able to hear directly from a Fannie Mae representative and ask questions regarding the temporary revisions to GSE appraisal requirements as a result of the coronavirus crisis. Watch the live recording…
There is no such thing as a typical day in the life of an appraiser trainee. Some days you’re in the office doing research and analysis (aka. “paperwork days”), and some days you’re out in the field looking at properties (aka. “inspection days”). We…
If you’ve been in the appraisal business for a while, chances are, you’ve come across some unexpected or funny things during property visits. We recently asked our real estate appraisal community on Facebook, “What’s the FUNNIEST thing you’ve encountered during an on-site appraisal inspection?”…
What are the essential tools and equipment to bring along when completing an on-site appraisal inspection? Recently we asked our Facebook community, “What one thing do appraisers need to have in their cars at all times?” It turns out people have varying opinions on…
Property appraisal is not typically thought of as a “dangerous” profession per se. However, personal safety is definitely something to consider when preparing for an appraisal inspection. We recently asked our real estate appraisal community on Facebook, “What’s the scariest thing you’ve encountered during…
As an appraiser, you are not expected to have the same level of knowledge as a professional home inspector. However, you are supposed to know more about residential construction, systems, and environmental issues than a layperson would. Here are five environmental hazards to look…
If you’re new to the appraisal profession, you might be nervous about inspecting your first property without a supervisor or mentor. What if you overlook something important? Once you gain experience and develop your own routine for inspecting a property, you will become much…
Appraisers often balk at assignments that require a more detailed inspection of the subject property (e.g., FHA appraisal assignments) because they don’t want to be considered a “home inspector.” Do you believe you are acting as a home inspector when you complete a property…
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