appraisal forms

AI and Appraisals – the Future

What AI Means For Appraisers

By Ann O'Rourke on August 22, 2025 / appraisal, appraisal forms, appraisal modernization, humor, liability / Leave a comment

Tags: AI, appraisal, APPRAISAL NEW UAD SOFTWARE, humor, liability

Newz: AI and Appraisers, FHA Handbook Updated,
History of Residential Appraisal Regulations

August 22, 2025

What’s in This Newsletter (In Order, Scroll Down)

LIA AD: Should I consider this an actual claim?
7.5 Things Appraisers Can Do That Artificial Intelligence Cannot, By Mark Buhler
Home Made Entirely Out of Shipping Containers Hits the Market for $5.2 Million in New Hampshire
FHA Handbook Updated
The New Appraisal Report: How One Company Is Rethinking Appraisal Software
A Primer on Regulations and the Practice of Residential Property Appraisal
Mortgage applications decreased 1.4 percent from one week earlier

Click here to subscribe to our FREE weekly appraiser email newsletter and get the latest appraisal news

———————————–

————————————————-

7.5 Things Appraisers Can Do That Artificial Intelligence Cannot

By Mark Buhler

Excerpts: Artificial intelligence is making waves in nearly every industry — and real estate appraisal is no exception. Computer generated algorithms and valuations promise quick results and lower costs, and some headlines are already asking the question: “Will appraisers be replaced by AI?”

The short answer? Not even close.

What appraisers can do

1. Judge Condition and Quality

An AVM might see a listing that says “4 bedrooms, 3 baths, 2,400 square feet.” What it won’t know is that one of those bedrooms hasn’t been updated since the Nixon administration and still sports avocado-green shag carpet. Appraisers evaluate condition, quality of construction, level of maintenance, and updates — all of which have a direct impact on value. Without physically inspecting a property, AI misses these nuances entirely.

2. Interpret Unique Features

3. Spot Red Flags the Data Misses

4. Smell the House

5. Explain and Defend Adjustments

6. Testify in Court

7. Apply Professional Judgment

7.5 Half Point: Remember to Knock

How to Start Leveraging AI in Your Practice – 7 ways

AI won’t replace appraisers — but appraisers who embrace it will leave others behind. Here are a few easy ways to get started:

1. Use AI‑Driven Comp Tools: Platforms now exist that can quickly identify potential comparables based on similarity scoring. Use them to save time — but always vet the comps yourself.……………

To read more, Click Here

My comments: Worth reading the entire article. What AI can do.

What Appraisers can do, with and without AI.

UAD and Forms Redesign Update for Appraisers (from 12-15-23)

GSE Appraisal Reports Online

By Ann O'Rourke on July 19, 2024 / app, appraisal business, appraisal forms, FHA, HOME INSURANCE, UAD / Leave a comment

Tags: appraisal business, Fannie, FHA, forecast, liability

What’s in This Newsletter (in Order)

Confirming Construction Progress
The New UAD: “Don’t Borrow Trouble.”
Nicolas Cage’s Former New Orleans Mansion Lost to Foreclosure listed for $10,250,000
When will interest rates drop?
Who will refi when rates are lower?
Uncovering Flaws in FHA Appraisal & Loan Review Process
Home Insurance: It’s Not The Hurricanes In High-Cost Areas, But The Tornados In Low-Cost Areas That’ll Get You By Jonathan Miller
Iconic ‘Constellation 167’ House in Los Angeles for $10.9M
Mortgage applications increased 3.9 percent from one week earlier
=================================================

Click here to subscribe to our FREE weekly appraiser email newsletter and get the latest appraisal news!!

==================================================

The New UAD: “Don’t Borrow Trouble.”

By Ernie Durbin, July 15, 2024

Excerpts: Reflecting on one of my father’s favorites, “don’t borrow trouble,” I find his advice particularly relevant today. It reminds me to focus on the present and not jump to conclusions about future uncertainties. What he was trying to convey was to trust in my abilities to handle challenges if and when they arise, rather than assuming the worst.

Many in our industry are “borrowing trouble” when they prematurely conclude that the new UAD and GSE report writing requirements will be detrimental.

The problem is… it’s not a form. The new Uniform Residential Appraisal Report (URAR) is an appraisal report expressed as a form. This may seem like semantics, but it is a very important distinction. Although the UAD data set is all-inclusive of property types, only the data points necessary for a specific property need to be reported.

The dynamic nature of the new report will result in “form” outputs that are remarkably shorter than the early examples provided by the GSEs. As an example, if the income and cost approaches are not necessary for credible results, these elements will not be included in the appraiser’s workflow or the final URAR.

To read more, Click Here

My comments: Worth reading. Current forms date back to 2005. A lot has changed since then, but somehow, we have to put it into our appraisal reports. I much prefer the “Turbo Tax” model where you only see what is relevant for what you are appraising. Changes to the software can be made at any time.

I am looking forward to online software for appraisal reports. Since 2006, I have used Constant Contact for this newsletter, which is completely online. Changes, when needed, such as additional features, can be done easily. With Office 360, Word and Excel software is online. I can work on any computer, anywhere. Of course, I have other software on my computers, including Excel and Word, if my Internet goes out ;>

The UAD and Appraisers – Past, Present, and Future

UAD and Forms Redesign Update for Appraisers

By Ann O'Rourke on December 15, 2023 / appraisal business, appraisal forms, bias, Economic analysis, forecast / Leave a comment

Tags: appraisal business, appraisal waivers, bias, Fannie, future

UAD and Forms Redesign Update

Excerpts: Improving the Quality and Consistency of Appraisal Data

Freddie Mac and Fannie Mae (the GSEs) have worked on the UAD redesign since 2018, leveraging extensive stakeholder input to update the appraisal dataset, align it with current mortgage industry data standards (MISMO® v3.6), and replace the GSE appraisal forms with a single data-driven, flexible, and dynamic appraisal report for any residential property type.

To watch the Excellent UAD and Forms Redesign Video (3 min. 47 seconds) Click Here

For more detailed information on web page Click Here

My comments: Watch the short video. On the links list on the right side of the webpage, GSE Experts Answer Your UAD Redesign Questions is short and understandable.

Click here to subscribe to our FREE weekly appraiser email newsletter and get the latest appraisal news!!

NOTE: Please scroll down to read the other topics in this long blog post on Non-lender appraisals, handline wide swings in appraisal volume, economic analysis for appraisers, Wells Fargo Mortgage discrimination, unusual homes, mortgage origination stats, etc.

======================================

Apps for Appraisers

By Ann O'Rourke on August 18, 2023 / appraisal business, appraisal forms, data, Fannie Forms, Freddie, non-lender appraisals, real estate market / Leave a comment

Tags: appraisal business, Fannie, Fannie forms, future, non-lender appraisals, real estate market

7 Must-Have Apps for Appraisers

By: McKissock

Excerpts:

1. Dragon Anywhere

Dragon Anywhere is a dictation and speech-to-text app that allows you to create, edit, and share documents from your mobile device. This professional-grade dictation service could save you tons of time on typing reports and taking notes in the field. The company boasts a 99% accuracy rate as well as powerful voice editing capabilities. Dragon is very well-liked among appraisal professionals, making it number one on our list of must-have apps for appraisers.

6. Genius Scan

This app gets a lot of love from appraisers. Genius Scan makes it easy to scan, upload, and share documents using your mobile devices. It can even scan handwriting and convert it into text. This tool is excellent for making copies of tax records, floor plans, etc. Over 200 million users and thousands of small businesses are currently using Genius Scan. This app could be a lifesaver for your workfile creation.

To read about the other 5 apps, click here

My comments: Worth checking out. When business is slow is an excellent time to look for new apps, learn how to use your MLS and forms software, etc. etc. Dragon has been around a long time and is popular with commercial appraisers.

Fannie: Words and Phrases in Appraisals

Click here to subscribe to our FREE weekly appraiser email newsletter and get the latest appraisal news!!

NOTE: Please scroll down to read the other topics in this long blog post on non lender appraisals, MLS hacked, real estate market, UAD redesign and new formats for appraisal reports, unusual homes, mortgage origination

What Do Appraisers Look For in a Sales Contract?

By Ann O'Rourke on April 2, 2023 / adjustments, appraisal, appraisal business, appraisal forms, appraisal how to, Fannie Forms, non-lender appraisals, UAD / Leave a comment

Tags: adjustments, appraisal business, appraisal how to, Fannie forms, future, real estate market, UAD

What Do Appraisers Look For in a Sales Contract?

Why must an appraiser be given a copy of the sales contract? First and foremost, Standards Rule 1-5 in the Uniform Standards of Professional Appraisal Practice (USPAP) states that we are to: “analyze all agreements of sale.” That’s the real reason why—because USPAP says so.

Secondly, the appraiser is likely familiar with the local real estate contract forms, customary terms, and conditions of real estate transactions in the area, and might be able to identify irregularities and comment on them.

Thirdly, and more importantly, there may be provisions in the contract that identify concessions, non-real property items included in the sale, or other unusual conditions that would give the appraiser the opportunity to comment on or explain in the appraisal report as to why there is a difference between the indicated market value of the subject property and the contract price.

To read many practical tips, click here

My comments: Worth reading. Answers a lot of appraiser questions. Of course, I have always preferred not knowing the sales price as it seems like a conflict for an objective, unbiased appraisal.

Appraisal Completion Certifications – be careful

Click here to subscribe to our FREE weekly appraiser email newsletter and get the latest appraisal news!!

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

NOTE: Please scroll down to read the other topics in this long blog post on Fannie Update: UAD and New “Forms”, concessions, non-lender appraisals, unusual homes, mortgage origination stats, etc.

Desktop appraisals okay for some Fannie Loans March 2022

Fannie announcement – About Desktop Appraisals

Beginning in March 2022, desktop appraisals will be an option for some loan transactions. This fact sheet provides high-level information on Fannie Mae’s requirements for desktop appraisals and answers some frequently asked questions. We’ll be adding information to the fact sheet, such as additional FAQs as needed.

Excerpts:

Use Form 1004 Desktop
Must include floor plan with interior walls.
The appraiser must have sufficient information to develop a credible report.

To read the fact sheet, click here

————-

Desktop Appraisal to Become the New Norm

by Isaac Peck, Editor, WorkingRe

Note: This article was written before the Fannie announcement above.

Excerpts: A number of questions remain regarding how the GSEs will establish the eligibility criteria for what types of loans, transactions, and loan-to-value (LTV) ratios will qualify for these desktop valuations. For example, Thompson’s comments that such a move will provide relief on rural appraisals runs contrary to most conventional appraisal experience in the industry where appraisal waivers, hybrid appraisals, and other “alternative” valuation products have primarily been used in cookie-cutter, tract home neighborhoods where model-match comps are more readily available.

In fact, over the years many senior executives at the GSEs and at major lending institutions have acknowledged the need for traditional appraisals on rural properties—which are much more likely to have unique features and require more complex analysis.

There is also the question of whether the introduction of desktop appraisals will potentially lead to a broader range of alternative appraisal products into the mix. Given that some senior executives at Fannie Mae were predicting that hybrid appraisals would become mainstream by 2022, it is actually a little surprising that desktop appraisal assignments are the first alternative product to get a permanent place on the GSE’s valuation roster. Appraisers will just have to wait to see what the future holds!

To read more, click here

My comment: Interesting and worth reading about the background of Fannie’s change

Click here to subscribe to our FREE weekly appraiser email newsletter and get the latest appraisal news!!

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

NOTE: Please scroll down to read the other topics in this long blog post on unusual homes, ANSI, Liability, appraisal business, Fannie, How to, mortgage origination stats, etc.

Top Ten Reasons Why It Is Great to be an Appraiser Humor

Haunted House Appraisal Adjustments

By Ann O'Rourke on October 29, 2021 / adjustments, appraisal forms, FHA, liability, real estate market / Leave a comment

Tags: adjustments, appraisal forms, Fannie forms, FHA, liability, real estate market

Inspired by Italy, a Conical Home in Indiana

Excerpt: On the market for $424,900, the home consists of two main silolike buildings with shake conical roofs. Inside the round compound is a total of 3,111 square feet of living space.

The design was inspired by the trulli homes of the Itria Valley in Puglia, Italy. They were typically built from limestone and had conical roofs. The structures were chiefly designed as temporary shelters or storage areas in the 19th century. Today, they endure as charming residences in southern Italy. Back in Indiana, this home’s architect, Evans Woollen, combined details from trulli homes into his design.

“The house is a midcentury version of a 200-year-old village in Italy,” Landrigan says.

To read more and see lots of photos, click here

Click here to subscribe to our FREE weekly appraiser email newsletter and get the latest appraisal news!!

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

NOTE: Please scroll down to read the other topics in this long blog post on FHA 4000.1 changes, Liability, appraisal forms, unusual homes, Fun Halloween links, mortgage origination stats, etc.