Newz: Q2 Fannie Appraiser Update, Appraiser Wins Discrimination Lawsuit
June, 13, 2025
What’s in This Newsletter (In Order, Scroll Down)
- LIA ad: Am I Still on the ‘Do Not Use’ List?
- What’s a comparable property? Or a “comp,” as we say more informally? By Bryan Reynolds
- Rotterdam’s Yellow Cube Homes
- Q2 2025 Fannie Mae Appraiser Update – UAD 3.6
- A Back to the Future Housing Market By Ryan Lundquist
- Case Dismissed: Ohio Appraiser Wins Discrimination Lawsuit by Isaac Peck
- Mortgage applications increased 12.5 percent from one week earlier
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Real Estate Agents and Comparable Sales – Tips for Appraisers
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What’s a comparable property? Or a “comp,” as we say more informally?
By Bryan Reynolds
Excerpts: Let me give you an example of an appraisal report I saw recently, which is why I’m asking this question: There are 65 comparable properties currently offered for sale in the subject’s neighborhood, ranging from a price of $330,000 to $5,400,000. The report also states that there are 44 comparable sales in the subject’s neighborhood within the past 12 months, ranging from $152,000 to $2.2 million. That’s a big range. Are you comfortable putting that in your report?
What does the term “comparables” even mean? Let’s go to the authoritative sources. Here’s one: The Dictionary of Real Estate Appraisal, published by the Appraisal Institute. It defines comparables as “a shortened term for similar property sales, rentals, or operating expenses used in the comparison in the valuation process and best usage. The thing being compared should be specified.” In other words, are you looking at comparable sales, comparable rentals, or comparable listings?
Lastly, I’m going to pull up the Encyclopedia of Real Estate Appraising. It’s a great big book, and it has a whole section on this. I highlighted one part of it because I like it: “What is a comparable property? It is one that would be a reasonable alternative for most prospective buyers who would be interested in the subject property.”
What is a comparable property? It is one that would be a reasonable alternative for most prospective buyers who would be interested in the subject property.” —Encyclopedia of Real Estate Appraising
That’s very simple, and it invokes some good, common sense
To read more, Click Here
My comments: Lots of opinions on this topic!
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29008552 – innovative yellow cubic houses built in rotterdam
Rotterdam’s Yellow Cube Homes
Excerpts: Both a popular tourist attraction and a strange architectural experiment, the cluster of 39 homes stands out amongst the city’s mostly modern architecture. However, that is what makes these “cube-perched-on-a-point” homes all the more interesting.
he elevated cubes are essentially houses supported on hexagonal piers; this design frees up the ground space for public use. Each cube measures 72 feet in height with each side measuring 25.5 feet. While the pillars and floor are made from reinforced concrete, structural wooden skeletons from the base for constructing the cubes were mounted on the floors’ edges. Interestingly, cement panels with rockwool insulation in the middle resulted in cutting down on almost all exterior sounds.
Inside, the complicated form meant that the interior walls were angled at 54.7 degrees with the floor. The consequences of this construction detail is that 25% of the almost 1,100-square-feet of living space is unusable because of the angular walls. The interior is divided into three floors that are connected by a narrow wooden staircase. The ground level houses in the living room and an open kitchen with plenty of windows. The second floor has two bedrooms, a bathroom, and a small living area. Finally, the third floor is a three-sided pyramid that can be used as a bedroom or an office.
To read more and see interior photos and floor plans, Click Here
My comments: Fascinating, with very good photos.
