Disciplinary complaints are a hot topic these days with appraisers. From accusations of bias or discrimination to failure to disclose significant real property appraisal assistance, complaints against appraisers are becoming more and more common. However, there are steps you as an appraiser can take…
There has been a lot of talk about the Uniform Appraisal Dataset (UAD) and Uniform Residential Appraisal Report (URAR) redesign initiative, and how it will make life easier for appraisers. What exactly does this mean? The mortgage appraisal forms we use today were designed…
Are you an aspiring appraiser or licensed appraisal trainee? As you embark on your new career, you’ll find there’s a lot to learn about the ins and outs of the business. While starting out in the appraisal industry is relatively easy due to low…
When it comes to appraisal violations, certain minor violations are very common. In this article, I outline several examples of less serious breaches of development STANDARD 1 and reporting STANDARD 2—and a few other types of violations, too. I have compiled these based on…
In residential appraising, the cost approach and the income approach have in many cases become less utilized in favor of sole reliance on the sales comparison approach. There are occasions when the income approach can be the primary indicator of value for residential properties,…
Sustainable insulation materials include things that are rapidly renewable and non-toxic. Have you ever worked with fiberglass insulation? It can get up your nose and cause your hands and any exposed areas to itch. It can get into your lungs and cause complications. Sustainable…
Are you just starting your real estate appraisal career? Last month we asked our appraisal community, “If you could give ONE piece of advice to a new appraiser, what would it be?” Thank you to the large number of appraisers who shared their top…
Besides location, one of the most important factors in a residential property’s value is the health of its local real estate market. Appraisers should pay close attention to various current events that may indicate a softening or imbalanced market, or conversely, a robust, healthy…
Ever since Fannie Mae and Freddie Mac (the GSEs) created the Uniform Appraisal Dataset (UAD) several years ago, real estate appraisers must rate building quality on a standardized scale from Q1 (best) to Q6 (worst). If you are performing appraisals for the intended use…
I learned a number of things from the experience of wrestling a 450-pound bear, some of which have not only aided me in life in general, but more specifically in my appraisal practice. During the summer between high school and college, my best friend…
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