Appraisal Regulator Chaos

By on September 5, 2025   /   appraisal, Appraisal Foundation, appraisal how to, appraisal regulations, Appraisal Subcomitee, climate risk, Economic analysis, HOME INSURANCE, liability, real estate market, state appraiser regulators   /   Leave a comment
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Newz: Appraisal Regulator Chaos , Cat and Raccoon Damages, Wildfire Risks

September 5, 2025

What’s in This Newsletter (In Order, Scroll Down)
NOTE: Scroll down to see Appraisal Regulator Chaos

  • LIA AD: Legal Request for Old Appraisal
  • The Kitty Litter Duplex: An Appraisal I Wish to Not Remember
  • $300K Maryland Home Is Overrun by Feral Cats and Raccoons
  • The Full Measure August 2025: Navigating Rates, Inventory, and Affordability
  • Appraisal Regulatory Chaos
  • The Town With No Bank: How Rural America Lost Its Mortgage Lifeline By Dallas T. Kiedrowski, MNAA
  • New Cotality Wildfire Risk Report finds more than 2.6 million homes are exposed to moderate or greater wildfire risk
  • Mortgage applications decreased 1.2 percent from one week earlier
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The Kitty Litter Duplex: An Appraisal I Wish to Not Remember

Excerpts: How one property’s furballs left an unforgettable impression on an apartment and an appraiser

Introduction

In the world of real estate, surprises abound. Industry professionals, especially appraisers, all expect the unexpected, but even the most seasoned professionals can stumble across situations that test the limits of their experience, composure, and their judgement. There are stories of haunted houses, collapsing ceilings, and outlandish tenant actions and decorative choices (Live, Laugh, Love), but the tale of the cat-soiled duplex stands out for its sheer yuck-factor. This is the story of what should be a routine property appraisal, which became cemented in my experience stories, due to its unfathomability and coated in an unmistakable, noxious layer of feline mischief.

The Setting: An Unimposing Duplex with a Dirty Little Secret…

The Appraisal Appointment: An Unforgettable First Impression

…I could only see the flooring in the opening and a few other spots around the living room from about a foot outside the threshold, the rest of the floor was completely caked with cat poop. The walls, ceiling, and windows were all enveloped by heavy spider webs in a variety of states, while some were fresh looking, others clearly blackened from a long life filled with dust, dirt, fur, and of course fecal matter. Also, you could see multiple patches of orange mold scattered throughout the walls and ceiling. I quickly replied I would not be going in there, because it was a danger to my health and safety, which somehow surprised her….

Financial and Health Implications: When Cleanliness Becomes a Value Killer

Hygiene, general maintenance, and property values parallel each other. This may be why we have condition codes for our appraisals. Just saying…. I made sure to thoroughly explain the situation and how the value was determined in the report. I did not want this rolling back downhill and getting me. Luckily, a very gracious Fresno Construction, was able to give me a quote very quickly, which came just over $100,000 for an estimate to redo the unit in its entirety.

Conclusion

The Kitty Litter Unit stands as a testament to both the resilience of a property and the unpredictability investors face. Especially in this case, since it was for an estate of a deceased former owner.

To read more, Click Here

My comments: I appraised a house for a relocation company – one story with 3 bedrooms. There were cats on every surface above the floor, such as dressers, – all staring at me of course. In the rear of the home was a very large cat enclosure. They were rescue cats, temporarily at the home. I did not ask the owner where the cats would go when she relocated – back to the shelter or with go with her.  I will never forget about all those cat eyes staring at me!

I had another relocation appraisal where the male cat had sprayed urine along several walls in the living room. I told the relocation company to replace the drywall.

Of course, I could fill up a book with dog stories. Such as two Dobermans that broke down the door of a trailer to get to me. I somehow made it to my car and I will never forget it. Or the small dogs who bit my ankles as I was trying to get through the front door (home was owned by an appraiser I knew). For both appraisals, I told my lender client to get another appraiser.

Read more!! →

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Appraisal Adjustments

By on August 29, 2025   /   adjustments, appraisal how to, FHA, liability, New URAR, UAD, UAD 3.6, USPAP   /   Leave a comment
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Newz: Appraisal Adjustments, How Freddie and Fannie Inflated Home Prices, FHA to Adopt UAD 3.6

August 29, 2025

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

  • LIA AD Navigating Value Revisions in Appraisals
  • Appraisal Adjustments: Types, Methods, and Cheat Sheet Appraisal By Kevin Hecht
  • Inside Artificial Heart Inventor’s $4.8 Million Midcentury Modern Salt Lake City Utah Home
  • Inflated Prices, Taxed to Death, by Jeremy Bagott
  • Can the direction a home faces affect its value? By Ryan Lundquist
  • The Competence to Perform an Assignment, by Timothy C. Andersen, MAI
  • FHA to adopt UAD 3.6
  • MBA: Mortgage applications decreased 0.5 percent from one week earlier

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Time Adjustment Changes for Appraisers

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Appraisal Adjustments: Types, Methods, and Cheat Sheet Appraisal By Kevin Hecht

Excerpts:

Types of Appraisal Adjustments

Appraisal adjustments can take several forms, depending on the property characteristics being compared. Each type of adjustment addresses a different element that may influence value. Below are descriptions of common adjustment categories and their uses, followed by a “cheat sheet” chart with examples.

  • Qualitative Adjustments
  • Quantitative Adjustments
  • Transactional Adjustments
  • Market Conditions Adjustments
  • Property Adjustments
  • Locational Adjustments

Common Methods for Making Appraisal Adjustments

A long list, from matched paired sales to Cost Analysis

Appraiser Survey: What’s Your Go-To Method for Adjustments?

Paired sales/matched pair analysis (Most popular answer!)

“I typically cover rural areas where sales are scarce and there is not enough data for meaningful statistical analysis to be performed. Due to this, paired sales analysis is the most reasonable and defensible analysis position available.”

“I use linear regression to understand market changes and to calculate any necessary market change adjustments.”

“Depends on what item is being adjusted. If it is site or GLA, it is usually a percentage of the per acre or per square foot sales price. Other items are usually paired sales analysis or consideration for depreciated cost.”

To read more, Click Here

My comments: Comprehensive lists and interesting appraiser comments. I quit doing grid dollar adjustments many years ago. A person from our state regulator, speaking at a local appraisal meeting, said they would require support for all adjustments. I started by doing Plus and Minus grid adjustments and then went to “total property comparison” with a value. I do a qualitative analysis comparing the comps.

The only supported dollar adjustments I make are for market conditions and high dollar features such as a fantastic view of the Golden Gate Bridge from very high up a hill.

Inside Artificial Heart Inventor’s $4.8 Million Midcentury Modern Salt Lake City Utah Home

Excerpts: 4 bedrooms, 4.5 baths, 5,447 sq.ft., 0.55 acre lot, built in 1957

The mastermind behind the one-of-a-kind estate was none other than Swiss architect Eduard Dreier, who brought Bauhaus principles to the modernist movements of Utah and Nevada.

Lovingly restored and awarded the Utah Heritage Award for Restoration and Renovation, this 5, 447 sq ft architectural gem blends timeless Dreier elements-exposed steel beams, walls of glass and cantilevered roof line, granite rock walls-with warm modern luxury. The 1,110 sq ft glass-and-steel attached guest house, designed by Dreier protge Brent Groesbeck in 2016, floats above the main home, expanding living where entertaining is elevated to an art form.

To read more, Click Here

To see the listing with 43 photos and a video tour, Click Here

Read more!! →

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What AI Means For Appraisers

By on August 22, 2025   /   appraisal, appraisal forms, appraisal modernization, humor, liability   /   Leave a comment
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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

AI and Appraisals – the Future

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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.

Read more!! →

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Humor What is an appraiser?

By on August 15, 2025   /   AMCs, appraisal, humor, liability, New URAR   /   Leave a comment
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What is an Appraiser? Humor, Upzoning,
New UAD Quality Ratings

August 15, 2025

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

  • LIA AD: A Family feued and Intended Use
  • Upzoning: What It Is and What Appraisers Need to Know
  • Off-Grid ‘Stilt Home’ That Hovers Above a St. Augustine Beach Hits the Market for $1.35 Million
  • What Is An Appraiser? Humor
  • The New UAD Quality Equation: Interior + Exterior = Overall Rating
  • The Harbor Model: Where Appraisers Take the Helm
  • Mortgage applications increased 3.1 percent from one week earlier,

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Upzoning: What It Is and What Appraisers Need to Know

Excerpts: Upzoning is a powerful but often misunderstood tool in urban planning and real estate. In this post, we’ll break down what upzoning is, why it’s becoming more prevalent, and what appraisers need to know about its potential impact on property values.

What Is Upzoning?

Upzoning is the process of modifying zoning laws to allow for higher-density development in areas that previously had stricter land-use regulations. This might include permitting multi-family housing where only single-family homes were allowed, increasing building height limits, or reducing minimum lot sizes. The goal is often to promote more efficient land use and address housing shortages.

What to Be Aware of as an Appraiser

It’s important for real estate appraisers to stay informed about changes in local zoning laws, as these can significantly affect property valuations. Upzoning, in particular, can alter what is legally permissible on a parcel of land, shifting development potential and land use expectations.

When upzoning occurs, the highest and best use of a property may change—from a single-family home to a multi-family development, for example—requiring appraisers to reassess the property’s value accordingly.

How to Address Upzoning in Your Appraisal Report

If you find that a property has been upzoned, how do you tackle that in your actual appraisal report? “I think the place to start is building permitting,” says Dobbs. “A lot of cities have pretty decent permitting websites. You can go in there and look at what types of permits are being pulled in the area.”

More topics:

  • How to Address Upzoning in Your Appraisal Report
  • Opportunities for Real Estate Appraisers
  • How to Prepare for Future Upzoning

To read more, Click Here

My comments: Excellent, understandable article about this important topic. There are rental housing shortages in many areas in U.S. Today there is pressure to allow upzoning to make more rental housing available.

Residential appraisers did not receive much education on this topic. You don’t want to get into trouble with the state board by using the incorrect highest and best use on a property or not recognizing and reporting on upzoning.

I do commercial appraisals. HBU issues occur regularly in my city, so I keep up on zoning changes.

Don’t forget local regulations. In my city, regulations (not in zoning regs) restricts the number of rental units on a property (downzoning) after many Victorians were demolished and ugly modern apartment buildings constructed in the early 1960s. Appraisers only looking at zoning for HBU would make a very big mistake.

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Off-Grid ‘Stilt Home’ That Hovers Above a St. Augustine Beach Hits the Market for $1.35 Million

Excerpts 4 bedroom 3 baths,3,374 square feet, 0.41acre lot, built in 1980

Beachfront homes that offer instant access to white sand and a crystal-clear ocean are a rare find—but even rarer is a dwelling that sits directly atop that beachfront, mere feet away from the water.

Yet one such property has just washed ashore in St. Augustine, FL, listed for $1.35 million, 19 years after it last changed hands for less than a sixth of that price.

This unique dwelling is situated on large wooden stilts that have been hammered into the sand, providing the perfect perch overlooking the water, ensuring 24/7 beach access—a rare amenity that comes with its fair share of complications.

Unsurprisingly, given its location, the home is classified as being at “extreme” risk of flooding, according to the Realtor.com® Flood Factor rating, which notes that the dwelling has a “100% risk of flooding” over the next 30 years.

Additionally, the “stilt house” has an extreme wind factor rating, as well as an extreme risk of hotter-than-average temperatures.

To read more Click Here

To read the listing with 59 photos and a video tour, Click Here

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What Is An Appraiser? Humor

An appraiser is one who compiles and analyzes voluminous data of problematical accuracy from sources of dubious veracity and derives therefrom a numerical quantification of unquestionable necessity,

analogous to a nebulous and euphemistic concept representational of value commensurate with ambient configurations of the open market

and promulgates thereby a precise written declamation which delineates his observation, deliberations and conclusions all done while he feigns absolute ignorance of the avaricious machinations of Buyers, Sellers, Brokers and Lenders, compensated only by that penurious stipend known as the professional fee.

This joke is from Bill Sparks. Bill doesn’t know where this joke originated, but Thanks for sending it to us!

My comments: We all need a little appraiser humor!

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12 APPRAISAL MYTHS

By on August 8, 2025   /   appraisal, bias, Economic analysis, liability   /   Leave a comment
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Newz: 12 Appraisal Myths, Appraisal Bias Lawsuit

August 8, 2025

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

  • LIA AD: Legal Request for Old Appraisal
  • 12 Common Appraisal Myths/Misconceptions by Tom Horn
  • $750K Hobbit-Style Bunker in Tennessee Puts a Unique Spin on Underground Living
  • The Appraiser’s Market Compass: Navigating the Summer 2025 Housing Landscape By Kevin Hecht, Appraiser and Economist
  • Appraiser questions answered: Interview with Craig Capilla, Attorney
  • No, Appraisers Didn’t Cause America’s Racial Wealth Gap by Jeremy Bagott
  • Mortgage applications increased 3.1 percent from one week earlier
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10 Appraisal Myths

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12 Common Appraisal Myths/Misconceptions

By Tom Horn

Excerpts:

1. Appraisers Rely Primarily on Price Per Square Foot

This is probably the most common misunderstanding I run into.

Yes, price per square foot is one of many tools we use to analyze value—but it’s not the whole story.

2. Appraisals Are Just a Quick Comparison of Recent Sales

Some folks think appraisers pull the three most recent sales and call it a day.

In reality, it’s much more involved. We look at a wide range of comparable sales, analyze market trends, make adjustments for differences between properties, and apply professional judgment.

3. Appraisals and Home Inspections Are the Same

This is a big one for homeowners and buyers.

Home inspections focus on the condition and function of the property—things like the roof, HVAC, plumbing, and safety issues. The inspector is looking for problems.

Appraisals, on the other hand, are focused on value. We observe the overall condition, yes, but we don’t test systems or check for code compliance.

4. Automated Valuation Models (AVMs) Like Zillow Zestimates Are Equivalent to Appraisals

Zillow can be helpful for a ballpark estimate, but it’s not an appraisal.

AVMs use algorithms, public data, and sometimes outdated or incorrect info. They don’t know if your kitchen was remodeled last year or if the neighbor’s home was a distressed sale.

5. The Purpose of the Appraisal Changes the Value

This one trips people up sometimes.

They’ll ask, “What’s the value for a refinance?” or “How much is it worth for a divorce?” as if the answer changes depending on why we’re appraising it.

To read the details and all 12 reasons, Click Here

My comments: Read this blog post. It can help you keep out of hassles and problems when appraising. When you get asked these questions you will know how to respond.  Written for real estate agents, buyers, sellers and many other people but excellent tips for appraisers.

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$750K Hobbit-Style Bunker in Tennessee Puts a Unique Spin on Underground Living

Excerpts: 3 bedrooms, 3 baths, 3,024 sq.ft., built in 2010, 38.84 acre lot

When you think of a bunker, you probably don’t imagine a three-bedroom abode that’s brimming with modernity—which is just one of the reasons that a newly listed dwelling in Tennessee comes as a surprise.

Tucked into the hillside like a doomsday bunker, this Bethel Springs residence was originally built in 2010, yet it boasts a historic Hobbit-style feel akin to the quaint homes depicted in J.R.R. Tolkien’s picturesque Shire.

But much like Tolkien’s books, this home should not be judged by its cover.

Despite its bunker-esque setting and Hobbit-inspired exterior, inside the dwelling is a modern marvel, having been thoughtfully remodeled by its current owners to include an open floor plan and design-forward finishes like granite countertops and luxury vinyl plank flooring.

To read more plus photos, Click Here

To read the listing with 50 photos, Click Here

Read more!! →

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AI and Appraisals – the Future

By on August 1, 2025   /   AI, appraisal how to, liability, non lender appraisals, real estate market   /   1 Comment
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Newz: Future of AI in Appraisals,
Comps in Today’s Market

August 1, 2025

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

  • LIA ad: Code violations and expertise
  • The Future of AI in Real Estate Valuations: Understanding Tomorrow’s Appraisal Standards By Leland Trice
  • New York City’s Famous ‘Bubble House’ Hits the Market for the First Time in 50 Years With an Asking Price of $5.8 Million
  • The problem with comps in today’s housing market By Ryan Lundquist
  • Divorce Appraisal: A Guide for Real Estate Appraisers By Kevin Hecht
  • For sale signs multiply: Inventory hits 5-year high, price cuts surge What’s happening with markets all over the country?
  • Mortgage applications increased 0.8 percent from one week earlier

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The Future of AI in Real Estate Valuations: Understanding Tomorrow’s Appraisal Standards

By Leland Trice

Excerpts: The real estate valuation industry stands at a pivotal moment. After decades of relying on manual processes that are inefficient, error-prone, and costly, we’re witnessing a fundamental shift toward AI and technology enabled solutions that don’t replace human expertise but amplify them.

The future of real estate valuations will likely involve increasing integration of human expertise with artificial intelligence capabilities. This evolution isn’t about replacing professional judgment with automated systems it’s about creating hybrid approaches that leverage the strengths of both human analysis and machine processing.

Opteon’s new AI-powered quality control tool, built in collaboration with technology partner Jaro, illustrates this broader evolution across our industry.

It’s important to clarify a common misconception: AI-powered tools like Intara, don’t replace appraisers or QC functions. Instead, they enable Appraisers to focus on what they do best, expert analysis and decision-making, while automating repetitive, administrative and time-consuming tasks that add little analytical value.

The “magic” of AI is its ability to look holistically at a file. We have moved past the days of checklist data review and can now examine unstructured data and images simultaneously and in conjunction with discrete data points.

A critical factor in successful AI implementation is the flexibility to meet varying requirements. Intara demonstrates this principle by embedding lender-specific criteria into quality control processes, automatically identifying discrepancies, and ensuring consistency before reports reach final review.

To read more, Click Here

My comments: This article sometimes reads as a “marketing promotion”. But, worth reading to see how one company uses AI for appraisals and how it is used.

This article goes way beyond Chat GPT. It shows how custom AI applications can work for appraisals. The author, Leland Trice, is Managing Director at Opteon USA.

New York City’s Famous ‘Bubble House’ Hits the Market for the First Time in 50 Years With an Asking Price of $5.8 Million

Excerpts: 4 bedrooms, 5 baths, 4,763 sq.t. Townhouse

The distinctive bubbly residence has become a somewhat divisive hot spot in its Lenox Hill neighborhood, where it was built in 1969, with architect Maurice Medcalfe transforming a traditional brownstone into the eye-popping modernist masterpiece.

Medcalfe’s unique window design was intended to be “a sculptural interpretation of the classic bay window,” according to reports.

There is plenty to play with in the four-story interior, which boasts 4,736 square feet of space and includes four bedrooms, an office, and five bathrooms that are “all in need of renovation,” according to the listing.

To read the listing with 13 photos Click Here

Read more!! →

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Top 3 Appraiser Mistakes

By on July 25, 2025   /   ADUs, appraisal how to, bias, liability   /   Leave a comment
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Newz: Top 3 Appraiser Mistakes, Bias Lawsuit Dismissed, ADUs

July 25, 2025

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

  • LIA ad: Why Do Claims Get Settled?
  • Top 3 Mistakes Appraisers Make in Their Appraisal Reports By Bryan Reynolds
  • Founding Father John Hancock’s Boston Home Is on the Market for First Time in Half a Century — More Than 250 Years After It Was Built
  • Appraiser Vindicated: Lanham Discrimination Lawsuit Dismissed in Maryland
  • A Complete Guide to Geocodes
  • Bipartisan legislation would make it easier to finance accessory dwelling units
  • Mortgage applications increased 0.8 percent from one week earlier

Appraiser Mistakes

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Top 3 Mistakes Appraisers Make in Their Appraisal Reports

By Bryan Reynolds

Excerpts: After doing more than 2,000 appraisal reviews over the years, Bryan and his team have seen these same errors crop up again and again. Know them and avoid them.

I was an investigator for the state of Tennessee for many years. These days, I primarily help appraisers who find themselves in trouble. Sometimes we’re successful in resolving the issue entirely, or at least reducing the impact. Other times, it becomes a learning moment — we recognize mistakes, take responsibility, and strive to do better.

Mistake #1: Omitting a key statement about an extraordinary assumption or hypothetical condition

Appraisers can gain some leeway with the right scope of work, and by properly using extraordinary assumptions and hypothetical conditions. But you must meet minimum reporting requirements.

Mistake #2: Not summarizing the results of your analysis of the subject property’s prior sales

Saying “the subject sold last year for $150,000” is not analysis. That’s just a statement of fact. What USPAP requires is a summary of your analysis. You’ve got to explain what that sale means in the context of your current appraisal, not just list the data point.

Mistake #3: Including comps that aren’t really comparable

The 1004 form, or the Uniform Residential Appraisal Report form, is what most appraisers use. This is a form many of you are very familiar with. At the top of page two, it says:

“There are ___ comparable properties currently offered for sale in the subject’s neighborhood, ranging from ___ to ___.”

“There are ___ comparable sales in the subject’s neighborhood within the past 12 months, ranging from ___ to ___.”

Now, if you truly are in an area where all the listings and sales in a neighborhood are in a competitive state for the same properties, then I guess you’d fill that in accordingly. But how often does that happen? I mean, are the two-bedroom homes competing for the same buyers as the four-bedroom homes?

To read more, Click Here

My comments: Definitely worth reading! I would have never thought these 3 were the most common mistakes.

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Founding Father John Hancock’s Boston Home Is on the Market for First Time in Half a Century — More Than 250 Years After It Was Built

Excerpts: Used as offices now, 7,622 sq.ft., 2,178 sq.ft. lot, Originally built in 1660s

The iconic dwelling, which is known as the Ebenezer Hancock House in honor of John’s younger brother who used it while serving as the deputy paymaster of the Continental Army, is thought to have been built in 1767.

According to the listing, which is held by Dave Killen of LandVest, the building is the “last extant property associated with the founding father in Boston” and stands as a living time capsule, having been meticulously maintained by its current owners over the last five decades.

An asking price for the property has not been released, but the structure was most recently valued at $1.65 million by city officials. Given its historical significance, the building could well sell for much more.

The original structure dates to the 1660’s, when the site was owned and occupied by William Courser, Boston’s first Town Crier. In 1737, the property was owned by James Davenport, the brother-in-law of Benjamin Franklin.

To read more and see many interesting photos, Click Here

My comments: Our country’s 250th anniversary is coming. This is a look into when we started.

Read more!! →

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Changes to FHA Appraisal Requirements

By on July 5, 2025   /   Economic analysis, Fannie, FHA, liability   /   Leave a comment
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Newz: FHA Appraisal Changes, Fannie Measurement Standards Update

July 4, 2025

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

  • LIA AD: Unreasonable Subpoena Request
  • HUD Announces Changes to FHA Appraisal Requirements
  • The Rock House In Larkspur CO Is Back On The Market for $1,000,000
  • Baghdad Bob of Freddie Mac Merits Mention As Mideast Erupts
  • The Full Measure – June 25, 2025 By Kevin Hecht, Appraiser and Economist
  • Fannie: Standardizing Property Measuring Guidelines
  • MBA: Mortgage applications increased 2.7 percent from one week earlier

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HUD Announces Changes to FHA Appraisal Requirements

Excerpts: There are four significant appraisal-related revisions to Section II. D. of the Handbook.

  1. Subject and comparable photograph requirements have been revised….
  2. The appraiser is no longer required to state the remaining economic life of the dwelling in the appraisal report.
  3. In situations in which the subject is located in an increasing or decreasing market, the appraiser is no longer required to include an absorption analysis, a minimum of two sales that closed within 90 days of the effective date, and two active listings or pending sales.
  4. For Section 223(e) mortgages, the appraiser is no longer required to include an estimate of remaining physical life for the subject property improvements.

It is important to note that the originating lender is the client, not HUD/FHA, and as such, the lender may still require some or all the above items.

To read more, Click Here

To read the full document, Mortgagee Letter 2025-18, Click Here

My comments: Read the full article above and the original Morgagee Letter (Link above) for more details if you do FHA appraisals.

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The Rock House In Larkspur CO Is Back On The Market for $1,000,000

Excerpts: 2 bedrooms, 2 baths, 2,432 sq.ft., 0.86 acre lot. Built in 2000.

The Larkspur Rock House is an iconic Flinstones style home, and now it can be yours for only $1,000,000. The rocks are maybe 200 million years old!!!Outdoor living spaces.

The Rock House is anything but ordinary—this striking, stucco-clad home is seamlessly built into a soaring red rock monolith, transforming nature’s artistry into a one-of-a-kind architectural statement.

The dramatic rock wall isn’t a backdrop—it’s the centerpiece, rising through all three levels and anchoring each floor in natural grandeur. Every space is visually and physically connected to the monolith at its core.

To read more, Click Here

To read the listing, Click Here

https://www.zillow.com/homedetails/6619-Apache-Pl-Larkspur-CO-80118/13497121_zpid/

Read more!! →

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Neighborhood Analysis Matters for Appraisers

By on June 27, 2025   /   appraisal how to, GSEs, liability, New URAR   /   Leave a comment
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Newz: Neighborhood Analysis, Death of the Appraisal Clipboard

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

  • LIA AD: Can’t Certify the Work
  • Why Neighborhood Analysis Matters: Avoiding Costly Appraisal Mistakes By Timothy Andersen, MAI
  • See the Churches That Make Divine and Affordable Homes
  • Pulling comps in a softer market By Ryan Lundquist
  • The Future is Now: Fannie Mae and Freddie Mac Announce UAD 3.6 Implementation Timeline and Policy Changes
  • The Death of the Appraisal Clipboard By Tony Pistilli
  • Mortgage applications increased 1.1 percent from one week earlier
Appraisal Neighborhood Analysis

 

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Why Neighborhood Analysis Matters: Avoiding Costly Appraisal Mistakes

By Timothy Andersen, MAI

Excerpts:

Neighborhood analysis is a critical component of real estate appraisal, providing insights into factors that influence property values, risk analysis, and investment decisions. A comprehensive neighborhood analysis involves delineating precise boundaries, understanding property types and architectural styles within those boundaries, assessing land use changes, and evaluating current and future economic trends.

Topics:

  • Defining Neighborhood Boundaries
  • Assessing Neighborhood Characteristics
  • Monitoring Land Use and Development Trends
  • Evaluating Economic Trends

Implications for Appraisers

Neglecting a detailed neighborhood analysis as part of the appraisal can lead to inadequate appraisal reports, potentially resulting in critiques from reviewers or issues with compliance standards (i.e., a state appraisal authority). Appraisers are advised to conduct meticulous neighborhood analyses, ensuring their reports reflect current market conditions and property characteristics accurately.

To read more, Click Here

My comments: Well written and worth reading. Includes references. Defining the neighborhood is critical for all types of appraisals. This article focuses on residential, but the topics apply to commercial and other uses.

The neighborhood is where you first look for comps and do the analyses above. Going to a similar neighborhood for comps may be needed, but can be tricky.

Read more!! →

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Appraiser-Client Relationships for Appraisers

By on June 20, 2025   /   appraisal business, bias, liability, state appraiser regulators   /   1 Comment
Tags: , , ,

Newz: WA appraisers fee hikes, AI and an appraiser defense

June 20, 2025

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

  • LIA Ad: Protecting My Appraisal Report
  • How to Build Strong Appraiser-Client Relationships
  • Cardiologist Lists Glass Mansion in Jackson Hole for $60 Million
  • WA Appraisers Stung by Fee Hikes and Veto
  • FOIA, AI, & the Appraiser’s Defense: A Blueprint for Fighting Back
  • MBA: Mortgage Applications Decrease in Latest MBA Weekly Survey

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Real Estate Agents and Comparable Sales – Tips for Appraisers

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How to Build Strong Appraiser-Client Relationships

Excerpts: The most successful appraisers are those who consistently bring in new clients. Are you looking to earn more referrals and repeat business? Start by fostering good relationships with your appraisal customers. Taking the time and effort to build strong appraiser-client relationships is a great way to establish a good reputation and distinguish yourself from the competition so that you can easily generate new business through client referrals and word-of-mouth.

Not sure where to begin? To help you out, we asked our community of real estate appraisers, “Which is MOST important for building strong appraiser-client relationships?” Read their responses below for insights into several effective strategies you can use to keep your customers happy and keep business flowing.

Produce credible, high-quality work (47%)

Have clear communication (20%)

Be courteous and professional (11%)

Deliver reports on time (7%)

Go above and beyond (4%)

Other (7%)

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My comments: Worth reading the appraiser comments.

Read more!! →

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