Monthly archive for April 2020

Appraising Weird Stuff is Challenging!(Opens in a new browser tab)

Appraisal Process Challenges(Opens in a new browser tab)

To read about lots more appraisal topics, continue reading below!

7 Things to Watch in your Appraisal Market

By Ann O'Rourke on April 18, 2020 / adjustments, appraisal classes, appraisal regulations, Coronavirus, desktop appraisals, Fannie, FHA, Freddie, FUN, real estate market, va / Leave a comment

Tags: adjustments, appraisal business, appraisal regulations, Coronavirus, Fannie, humor, mortgage loan volume, real estate market

Seven things to watch in real estate during a pandemic

April 14, 2020 By Ryan Lundquist

Excerpts:

1) Listings: We often think about listings increasing as a way to see the market changing, but right now many markets across the country are seeing fewer new listings. So at times change is best seen with less of something rather than more. It’s not a surprise to see fewer new properties during a pandemic, right?…

7) Prices: In real estate we are so obsessed with prices, but that’s really the last place to look to see the market. What I mean is change happens first in the areas above before showing up in sales stats a couple months down the road. In short, for now the slower pandemic trend hasn’t infiltrated sales price figures as of yet in Sacramento. This doesn’t mean the market is stable in every price range and location. All I’m saying is regional and county stats don’t show price declines right now. Normally I pull monthly price data, but I’ve switched to weekly in order to see the trend sooner rather than later.

To see the other 4 factors plus lotsa graphs and many appraiser comments , click here

Pandemic and market for buyers and sellers: Appraisals(Opens in a new browser tab)

Very, very funny appraisal video!!(Opens in a new browser tab)

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Covid-19 Residential Appraisers Tips on Staying Safe

Appraiser Recovers From COVID-19

By Ann O'Rourke on April 10, 2020 / appraisal business, appraisal regulations, Coronavirus, Fannie, FUN, humor, Mortgage applications / Leave a comment

Tags: appraisal business, appraisal fees, appraisal regulations, Coronavirus, humor, mortgage loan volume

Appraiser/Educator Bryan Reynolds is recovering from COVID-19

I had a bit of a difficult time with this podcast. We like to think we’re invincible, immune, unaffected, but that’s silly. We are, at the end of the day, all vulnerable. This chat with my long time friend and partner, Bryan Reynolds, brought that realization home, in stark reality and made it tangible and personal. Appraiser Recovers From COVID-19.

People, we damn near lost Bryan. Please give this podcast a listen. I’ve posted it here, largely unedited. This podcast is the epitome of authentic.

Hal Humphreys

Partner Appraiser eLearning

The Appraisal Update – Episode 40 | Bryan Reynolds and COVID19

To listen, click go to https://podcasts.apple.com/us/podcast/the-appraisal-update-episode-40-bryan-reynolds-and-covid19/

My comment: Listen to this podcast!! I saw the last podcast live on March 26. Hal Humphreys was the moderator, speaking from his front yard. He said that Dave had coronavirus. I am so glad that he is recovered! To watch his webinars, go to https://www.youtube.com/channel/UClb6iDQvzQqj4GOiKSCp8EA

10-20 UPDATE: For lots of Covid analysis and news, go to my new covidscienceblog.com

A very, very funny appraiser video!

For lots more appraisal topics, Click Read More below!

Appraiser Recovers From COVID-19(Opens in a new browser tab)

Appraiser Covid Survey Results April 2020

By Ann O'Rourke on April 9, 2020 / appraisal business, cat, Coronavirus, Fannie / Leave a comment

Tags: appraisal business, Coronavirus, Fannie

Survey Results April 2020

April 1 Wednesday Facebook Poll results:

Doing interiors 142 – 57%

Turn down interiors 80 – 32%

Transiting away. 28 – 11%

Total 250

—————————-

Bradford software customers – Started April 30, last Monday

I took this survey.

Q1 Have you been been accepting new appraisal assignments? (check all that apply) (1,087 responses)

Responses

– I do Desktops using the new COVID-19 Flexibility Desktop addendum 29.35% 319

– I do Drive-bys using the new COVID-19 Flexibility Exterior addendum 49.22% 535

– I do traditional 1004s with interior and exterior inspections 65.96% 717

– Not doing appraisals during the pandemic crisis 8.92% 97

Q2 Did you know lenders will accept a desktop or drive-by in lieu of a traditional 1004 with interior inspection?

Yes 83.90% 912

No 16.10% 175

Q4 Would you complete an appraisal that included interior photos

completed by a homeowner if you could verify the photos were taken

inside the home?

Yes 72.13% 784

No 27.87% 303

Many thanks to Jeff Bradford for this data!!

To read about lots more appraisal topics, continue reading below!

Covid-19 Residential Appraisers Tips on Staying Safe

Appraisal Covid stats April 2020

By Ann O'Rourke on April 3, 2020 / Coronavirus, liability, real estate market, weird properties / Leave a comment

Tags: Coronavirus, mortgage loan volume, real estate market, unusual buildings

Hot real estate stats during the pandemic? FROM APRIL 2020

By Ryan Lundquist

Excerpts: I can see the headlines now. “Prices rose despite the coronavirus,” or “The housing market shows strength in March despite the pandemic.” But let’s step back and think critically about glowing stats from March and what they really tell us. I hope this will be helpful. Any thoughts?

Five good comments

#3. 3) What to watch right now: If you want to see the current market, watch what is happening in the listings and pendings rather than recent sales in March. Are listings moving or sitting? Are we seeing more price reductions? Are properties spending less or more time on the market? What is the sentiment among buyers and sellers? Who is gaining or losing power? Has there been a change to the number of listings and pendings? Do sellers have to give more credits to buyers? Are contracts getting bid up? Are contracts falling apart more often? We need to ask these questions in every neighborhood and price range. My advice? Look to neighborhood stats and let the numbers inform your narrative about what is happening in the market.

Go to the end to see his last comment.

To see the other 4 comments, click here

Appraisal Business Tips

Humor for Appraisers

Appraiser Covid Survey Results April 2020

For Covid Updates, go to my Covid Science blog at covidscienceblog.com

To read more of this long blog post, click Read More Below!!