This week’s appraisal news starts out with talk of USPAP efficacy for today’s appraisers. The chasm between appraiser and homeowner when it comes to valuation continues to widen. Americans are moving to the suburbs, and the reasons might be somewhat surprising. What’s an appraiser to do if there are no recent comparables? There is talk lately of property inspection waivers. What’s the truth behind this option? Happy reading!
Beyond USPAP
As the standard of the real estate appraisal profession for the past three decades, the Uniform Standards of Professional Appraisal Practice (USPAP) is being called into question for its efficacy for today’s appraisers. This in-depth article has sparked quite a bit of discussion in the comments section.
Gap between owner and appraiser opinions of home values narrows for fourth straight month
Quicken Loans is reporting that appraisers and homeowners are still not seeing eye to eye regarding home values. You can see the detailed statistics here.
Americans moving to the suburbs
Economics and politics are behind Americans on the move from the cities to the suburbs, according to Redfin. The article also reports some surprising ramifications from the shift.
What if there are no recent comparables?
Because the current market is so active, not finding recent comps is somewhat uncommon. But when it happens, the appraiser must ask him- or herself, “How can I support an estimated value?” This article takes a look at an appraiser’s next steps.
Should I get a property inspection waiver?
Birmingham appraiser Tom Horn discusses the latest buzzwords in the appraisal profession: property inspection waiver (PIW). This article goes over the good, the bad, and the ugly of this new option and whether it saves consumers time or money when they are trying to get a loan.
