This week’s gathering of appraisal news includes the widening gap between homeowner value estimates and what appraisers assign, the real scoop on all the talk about a competitive market, the merger between ASA and NAIFA, and the latest maneuver by AMCs to set up appraisers as “preferred providers.” Finally, how many mistakes were in your last appraisal report? It might surprise you to learn how common—and how many—errors get through. Happy reading!
Homeowner value estimates continue to outpace appraisals by a widening spread
Home values have continued a steady rise, but the gap between what homeowners think their home is worth and what appraisers assign continues to widen. Read on for more details on Quicken Loans’ National Home Price Perception Index study.
When the market feels aggressive
Everyone is talking about rising home prices, low appraisals, and inventory shortages, but what are the facts behind all the buzz? Sacramento appraiser Ryan Lundquist weighs in on what people need to keep in mind about value in an aggressive market.
Appraisers’ voice just got louder
The American Society of Appraisers (ASA) and the National Association of Independent Fee Appraisers (NAIFA) announced on April 18, 2017, their agreement to go ahead with a merger that will establish one of the largest networks of real estate appraisers in the country. Members of both organizations can expect to hear details in the weeks to come.
The latest AMC ploy
On the surface, becoming a “preferred appraiser” might sound like a good deal. But are these assignments opportunities—or a massive market correction in the making?
I messed up (really!)
Everybody makes mistakes, but according to this article’s author—and one of his clients—appraisal reports are often riddled with errors. Are you guilty of any of these? Or is time to give your communication, grammar, and spelling skills a check?