Pass-through Bedrooms

By Ryan Lundquist
Excerpts: Appraisal waivers have really exploded in recent years – especially during the pandemic. But how many are there exactly? Let’s look at actual numbers to walk away with some perspective. These stats are from January 2021 from AEI.
2) Seeing numbers: What real estate professionals experience with appraisal waivers with their clients can really vary. For instance, if you work with FHA borrowers putting very little down, you probably don’t see many waivers, but if you work with conventional buyers putting 30-40% down, you’re going to see more. This is why seeing actual stats is so important.
Read more of Ryan’s comments, see graphs, plus over 25 appraiser comments: click here
To read the AEI report, click here
My comments: I wrote about this in the February issue of the monthly Appraisal Today. Also included is data on which states are doing the most, and least, alternative appraisals. I spent a lot of time trying to get any statistics from Fannie without success. I knew waivers were going way up, especially for purchases. AEI reports have the analysis
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NOTE: Please scroll down to read the other topics in this long blog post on unusual homes, Trip fees, waivers, solar, AVMs, mortgage origination stats, etc.
It looks like Fannie and Freddie are finally saying something again about their plans! For example, one form that works for all the old forms. The infographic link includes a sample sales comparison grid. Make it larger to see all the added adjustments.
The February issue of the monthly Appraisal Today has lots of info on this topic.
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To watch the video and more, click here
Covid-19 Residential Appraisers Tips on Staying Safe
For Covid Updates, go to my Covid Science blog at covidscienceblog.com
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NOTE: Please scroll down to read the other topics in this long blog post on Fannie modernization, USPAP, Business tips, mortgage origination stats, Covid tips for appraisers, etc.
January 19, 2021, By Ryan Lundquist
Excerpt: A new sewer line. That’s what 2020 gave my family as a parting gift before the year closed. Yep, just before Christmas, we had to replace our entire line at a whopping $13,688. I know that sounds crazy expensive, but we had four separate bids and went with the most reasonable one. In part it was so pricey because we had one hundred feet of the line under eighty feet of concrete.
The good news is my house is worth $13,688 more now, right?
To read more plus lots of appraiser comments click here
What to Do When Your Appraisal Is Under Review(Opens in a new browser tab)
Covid-19 Residential Appraisers Tips on Staying Safe
For Covid Updates, go to my Covid Science blog at covidscienceblog.com
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NOTE: Please scroll down to read the other topics in this long blog post on fees, house settling, unusual homes, mortgage origination stats, Covid tips for appraisers, etc.
By Jamie Owen
Excerpts: It can be easy to over-simplify value because the value is not always as clear cut as it appears. For example, if a one-acre lot is selling for $10,000, does that mean that a two acre lot is worth $20,000? Not necessarily. The value of something usually changes depending on its size.
Excess land is land that is larger than what is typical for the neighborhood and capable of a separate use. Excess land is land that could be split-off and resold as a buildable lot. In the example below, the zoning required a minimum lot size of one and a half acres to be buildable.
To read lots more and see fun animated gifs, click here
My comment: Definitely worth reading!
2-16-17 Newz .Land surveys in 1784 .Common appraisal errors (Opens in a new browser tab)
Covid-19 Residential Appraisers Tips on Staying Safe
For Covid Updates, go to my Covid Science blog at covidscienceblog.com
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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 vaccines and housing, waivers, appraiser skills, surveys, mortgage origination stats, Covid tips for appraisers, etc.
Covid-19 Residential Appraisers Tips on Staying Safe
For Covid Updates, go to my Covid Science blog at covidscienceblog.com
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 technology, racial bias?, Scope of work, mortgage origination stats, Covid tips for appraisers, etc.
You’ve all got them… The crazy car chases, the surprising living conditions, the exotic assignments, and the unique collectors….
What we all need… Here is one brief humorous escape!!
The photo above is the Crazee Appraiser writing up his appraisal!
Here is one story:
This was a beautiful 3,200 sq ft home with all the extras. After measuring, I was standing by the fireplace, taking an interior photo, being careful not to step on the expensive rug next to the hearth. The lady of the house looked a little alarmed, so I had to ask, “Is everything okay?” “Oh yes, it’s just that the camera will have a click.” I’ve heard weirder things, so after assuring her it was a very quiet click, the button went down, the picture was taken, and the excitement started.
Something hit the back of my head, a soft, but very strong hit. The equivalent of a 10 mile an hour wind passed over my left shoulder, and a shadow landed on the other side of the sofa, which was 14’ in front of me. It seems that the fluffy 6’ rug was a once wild, African Savannah cat, stretching 6’ long as it napped on its belly. It looked like a leopard rug! With teeth longer than some fork tines, I was happy to let it hide in the bedroom, but she coaxed it out of hiding to demonstrate that it could easily jump 10’ high for a kitty treat.
– Carolyn S. Richards
For more stories, click here
My comment: We all need some appraiser fun to start the New Year!!
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FREE appraisal business articles
Covid-19 Residential Appraisers Tips on Staying Safe
For Covid Updates, go to my Covid Science blog at covidscienceblog.com
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To read more of this long blog post with many topics, click Read More Below!
Many thanks to Appraisal Buzz for this Very Best Appraisal Comic!! They came up with the ideas and hired a cartoonist to do it. There are very, very few appraisal cartoons or comics.
To see a larger image on your computer, right-click and select open in a new tab.
This cartoon was posted on the Appraisal Buzz Facebook page on September 21, 2020, so you can share or make a comment click here
Covid-19 Residential Appraisers Tips on Staying Safe
For Covid Updates, go to my Covid Science blog at covidscienceblog.com
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10. Dazzle your friends with your knowledge of external obsolescence.
9. The wonderful world of rats, bats, and spiders.
7. See places in people’s houses that usually require a search warrant to access.
We all need some humor!! These made me laugh ;>
To see 7 more reasons, click here
Covid-19 Residential Appraisers Tips on Staying Safe
For Covid Updates, go to my Covid Science blog at covidscienceblog.com
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Excerpts: As a result of an early consulting-writing assignment with the U.S. (Savings and Loan) League, my Dad created appraisal form “#17-PRA” in 1962, which became the Green Hornet – The First Lender Appraisal Form.
The appraisal report form was presented to the Appraisal Committee of the U.S. League for review and consideration for adoption and use by savings and loan associations across the United States.
The form was initially presented on green paper with green ink strictly for marketing spin.
To read more, click here
My comment: Very interesting and worth reading!! Warning: there are two appraiser comments, but then long “spam” comments not worth reading.
New 1004 appraisal form?(Opens in a new browser tab)
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Excerpt: An interview with Joan Trice, Founder of Allterra Group, LLC, and George Opelka, ACI General Manager. We sat down with George Opelka to discuss the modernization of the appraisal industry and the adaptation that’s still yet to come.
What is the history with certain appraisal software? What are some of the lasting impacts of the pandemic? Where does this leave the future of modernization in the industry? These questions and much more will be answered by George Opelka while he shares on this evolving subject.
To watch, click here
My comment: Worth watching. A fascinating history of the Green Hornet, the first appraisal form. George is a good speaker who has been around appraisers since he helped his dad when he was young. When working for ACI, he followed all the appraisal changes over the years. I don’t always listen to long videos, but I could not stop listening to this one!
Covid-19 Residential Appraisers Tips on Staying Safe
For Covid Updates, go to my Covid Science blog at covidscienceblog.com
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