Appraisal Clipboards and UAD 3.6

By on September 19, 2025   /   adjustments, appraisal business, appraisal how to, New URAR, UAD 3.6   /   Leave a comment
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Newz: Concessions, Clipboards in Appraisals?

September 19, 2025

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

    • LIA AD: Protecting My Appraisal Report
    • Robots in Surgery, Clipboards in Appraisals: A Tale of Two Professions
    • Custom Barndominium ‘Like No Other’ With Hobby Farm and Room for Helipad Hits the Market for $12.5 Million
    • Concessions: Sellers are struggling to listen to the market by Ryan Lundquist
    • Do Nearby Home Sales Affect My Home’s Value? By Tom Horn
    • The Short-Term Rental Dilemma by JoAnn Apostol

    • Mortgage applications increased 29.7 percent from  one week earlier

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Dear Clipboard and Measuring Wheel – A Walk Down Memory Lane

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Robots in Surgery, Clipboards in Appraisals:
A Tale of Two Professions

By Tony Pistilli

September 15, 2025

Excerpts: In the distant past, a doctor could build a career practicing medicine in much the same way for decades. But today, with the rapid pace of medical advancement, it means doctors who refuse to adopt new technologies either retire early, find their practices so limited that they cannot effectively compete or fade away into irrelevance.

The technological toolbox available to doctors today is full and growing. Consider just a few of these examples.

Robots allow doctors to perform minimally invasive procedures with greater precision, fewer complications, and faster recovery times. Surgeons control the robot’s every movement, combining human judgment with precision accuracy.

Doctors vs. Real Estate Appraisers

Of course there had to be a correlation to appraisers!  In summary, doctors have largely embraced technology, reshaping their profession and improving outcomes for millions of people around the world.

Contrast that with real estate appraisers.

While doctors are saving lives with robotic tools, appraisers are often still clinging to their clipboards, tape measures and manual data entry. While physicians have adopted telemedicine to expand their reach, many appraisers have resisted bifurcation that could streamline valuation processes and bring more work and ultimately more revenue.

To read more, Click Here

My comments: Interesting analysis. A few years ago, I had major surgery where robotics were used. I was worried, but when I research robotics I found out that they can work very well. And that the robots were not doing the surgery! My surgeon determined what the robots did by the surgeon manipulating the surgical instruments in an external device to do the surgery.

UAD 3.6 is coming. Using a tablet app in the field to collect data can really help. What if you don’t want to use an app and want to use a clipboard? I spoke with a software vendor recently who will have paper check lists of what data and photos are needed when using a clipboard.

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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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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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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Parcel, Deed and Tax Data Differences for Appraisals

By on June 6, 2025   /   appraisal how to, liability, New URAR, non lender appraisals   /   Leave a comment
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Newz: Parcel, Deed and Tax Data Differences, New URAR, Probate/Estate Appraisals

June 6, 2025

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

  • LIA AD Problem with An Affidavit
  • The Difference Between Parcel Data, Deed Data, and Tax Data
  • Nautilus House in Naucalpan, Mexico
  • Brains, Bytes, and Bracketing: Why Appraisers Need Both Carbon and Silicon in Their Toolkit By Ernie Durbin
  • What’s new in the New URAR?
  • How Probate Appraisals Really Work By Tom Horn
  • An Appraiser’s Musings on Adaptive Reuse By Hal Humphreys
  • Mortgage applications decreased 3.9 percent from one week earlier

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The Difference Between Parcel Data, Deed Data, and Tax Data

Excerpts: Parcel, deed, and tax assessor data — what’s the difference between them, and which type of data do you need?

What Is Parcel Data?

Parcels, or property boundaries, can be defined as a shape or polygon and displayed on a map. These mapped areas comprise parcel data, and they might also show points of latitude and longitude, streets, or zip codes. Parcel data also includes ownership details, acreage, and the boundaries for the parcels.

What Is Deed Data?

Deed data include the information contained within a property deed. Unlike parcel data, deed data is not map-based although the data points can be overlaid on a map. A property deed is a legal document that transfers ownership of real estate and is required for real estate transactions, legal proceedings, and tracking property ownership history.

What Is Tax Data?

Tax data are collected by the county tax assessor. Tax data include property identification, addresses, current and past property ownership, legal descriptions, property features, property values, and taxes.

As you can see, these three real estate data types have some level of overlap. However, boundary data are required for mapping purposes and deed and tax data are critical for businesses providing legal, mortgage, and titling services.

To read more, Click Here

My comments: Read more details. Very good information. This article was written by ATTOM data, who provides all the types of data above. You can read the Mortgage sections of the article to see how it affects mortgages and appraisers.

When I started my first appraisal job at an assessor’s office in 1975, I was very lucky. I appraised the land for every parcel, improved or not. I had great training on the topics above.

I went to the county records to find, read and understand deeds.

I learned how to read assessor’s parcel maps, as that is how I found the properties I appraised. I attended a 3 day class by a property surveyor to understand how they determined property maps.

When I started my appraisal business in 1975 the chief appraiser one of the local lenders I worked for required that the appraisers read title report including the deeds for every property. You initialed the report.

I doubt if many appraisers got the training that I received. I was very, very lucky.

The deeds also include easements and other restrictions. When I am not sure the parcel map has correct dimensions or there may be easements, I obtain a copy of the deed’s legal description and run down the property lines (length, angle, etc.

In my city, there are many Victorians side by side on narrow lots with garages in the rear that use the driveway between the homes for access. A client wanted to get her parking rights between her house and the neighbor. Her neighbor did not have a car now so she could use the full driveway. I told her the neighbor could sell or rent her home and her driveway parking might be gone. There was a recorded driveway easement. I told her to get a survey. She purchased a car that fit into her half of the driveway.

Another time my client and a neighbor were not in agreement on the location of a fence. I told them I assume fences are not on the property boundary, unless I have a survey. They got one and resolved their dispute.

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Nautilus House in Naucalpan, Mexico

Excerpts: Architect’s statement: At the end of the turn-around is the piece of land, with upward topography, where the Nautilus was built. It is limited by three of its adjoining properties because each of them has high buildings. The fourth adjoining property if to the west and has wide views of a green area with mountains in the horizon.

The construction area was defined since the first studies at the back of the piece of land, leaving the pedestrian and car access at the front as well as only one façade, the so called fifth façade in architectonic language.

The social life of this dwelling place flows inside the Nautilus without any divisions. Going up the spiral stairs, continuing through the hall, going through the television room sheltered in the Nautilus belly flows the space up the spiral stairs to the study room, where you can view the mountain’s landscape.

Behind the Nautilus is wrapped the intimate and service area: bedrooms, walking closets, bathrooms and the kitchen.

To read more plus see fascinating phots, Click Here

My comment: This is one of my favorite “unique” homes.

Read more!! →

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ChatGPT for Appraisers

By on May 16, 2025   /   AI, appraisal business, liability, new appraisers, New URAR   /   Leave a comment
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Newz: Appraisers using ChatGPT,
Appraiser Salaries, PAREA Problems

May 16, 2025

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

  • LIA ad: Appraisal Used in Divorce Case – Now What
  • The Power of AI Is Not Absolute Using Chat GTP for Appraisers
  • Retired Maine Railroad Caboose
  • [Updated 2025] What’s the Average Real Estate Appraiser Salary?
  • Indemnification Clauses: What Appraisers Should Know
  • Treasury yields surge, but Fed rate cut odds decline after U.S.-China tariff pause. Mortgage rates may be poised to rise following de-escalation of tariff tensions
  • The PAREA Program: Costly Promises, Empty Support
  • Mortgage applications increased 1.1 percent from one week earlier

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The Power of AI Is Not Absolute
Appraisers Using ChatGPT

Excerpts: With the great power of artificial intelligence comes the responsibility to fact-check.

Artificial intelligence (AI), particularly ChatGPT, has captured the attention of professionals across various industries, including residential appraisal. With ChatGPT now reaching more than 100 million weekly users, according to OpenAI CEO Sam Altman, it’s clear that AI is poised to become a mainstay in our digital toolkit.

ChatGPT is an AI chatbot, powered by a large language model (LLM), which can comb through a vast amount of information and generate text in response to a question or prompt. This ability led me to explore its potential in “seeing” and evaluating property photos, which ultimately inspired me to create the RoboRater tool.

There were some early hiccups — and a learning curve — when I began prompting the AI tool to apply Uniform Appraisal Dataset (UAD) quality and condition ratings to what it “saw” in property photos. And then, in November 2023, Open AI introduced a feature allowing pro users to develop a custom generative pre-trained transformer (GPT), which led to a breakthrough. It enabled me, with no coding background, to tailor a specific version of ChatGPT that excels at assessing kitchen quality and condition ratings from photos, complete with insightful supporting commentary.

ChatGPT as a Writing and Public Relations (PR) Assistant

ChatGPT can also be an invaluable writing assistant and PR specialist, especially in sensitive communication scenarios like Reconsiderations of Value (ROV). It can skillfully rephrase blunt feedback into professional, constructive commentary.

Other topics:

Enhancing Clarity in Technical Reporting

Optimizing Appraisal Business Operations

Navigating the Limitations

To read more, Click Here

My comments: This is the most practical article I have read for appraisers using ChatGPT with good appraiser examples. I am going to start using it soon! Tim Andersen, the USPAP expert, recently wrote an article for Appraisal Today using ChatGTP.

AI does not always work out well.

For example. State Bar of California admits it used AI to develop exam questions.

Nearly two months after hundreds of prospective California lawyers complained that their bar exams were plagued with technical problems and irregularities, the state’s legal licensing body has caused fresh outrage by admitting that some multiple-choice questions were developed with the aid of artificial intelligence.

Read more!! →

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Surplus vs. Excess Land for Appraisers

By on May 2, 2025   /   Economic analysis, GSEs, liability, Mortgage interest rates, New URAR   /   Leave a comment
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Newz: Surplus vs. Excess Land, Interest Rate Drop? GSE Oversight?

May 2, 2025

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

  • LIA ad: Am I Still on the ‘Do Not Use’ List?
  • Surplus Land vs. Excess Land: What Appraisers Needs to Know
  • 5 Mind-Boggling Optical Illusion Houses That Have To Be Seen To Be Believed
  • Fed officials offer differing signals on timing of potential interest rate cuts
  • Fed seen cutting policy rate by a full percentage point this year
  • The Balancing Act: How Appraisers Can Navigate Supply Shortages, Interest Rates, and Tariffs
  • A Cry from the Appraisal Trenches: The Fall of GSE Oversight
  • Mortgage applications decreased 4.2 percent from one week earlier

Surplus vs. Excess Land for Appraisals

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Surplus Land vs. Excess Land: What Appraisers Needs to Know

By Kevin Hecht

Excerpts: Land valuation is a fundamental aspect of real estate appraisal, influencing property transactions, development decisions, and investment strategies. A key part of the process involves distinguishing between the land that supports the property’s current use and any additional land that may—or may not—have independent value.

Commonly, a square footage adjustment is made based on lot size differences among comparable properties without one key distinction – whether the difference in land is surplus or excess land. This fails to consider whether the extra land has value independent of the subject property.

Surplus land and excess land are often confused. Surplus land is land which adds no value independently of the property being appraised. Excess land, on the other hand, has value because it can be divided and sold separately. These distinct differences must be accounted for in an appraisal.

Here we will discuss what constitute excess and surplus land, common methods used to identify each, and why it matters….

Methods for Identifying Surplus vs. Excess Land

Residential appraisers commonly make a dollar per square foot adjustment for differences in lot size among comparable properties without distinguishing whether the land is surplus or excess. The problem with this approach is that it fails to consider highest and best use where excess land—land that can be independently sold or valued—creates a premium.

This question cannot be answered without evaluating zoning and legal restrictions of the property.

For example, just because a property is large enough to support a second structure, zoning may prohibit multiple residences on a single lot or there may be legal restrictions in terms of land coverage and minimum square footage requirements. If this were the case, it would be considered surplus land.

When determining if land is excess land, appraisers must consider legal permissibility, physical possibility, financial feasibility, and profitability.

To read more, Click Here

My comments: Read this blog post. Residential appraisers can easily make a mistake on this topic and get into trouble.

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5 Mind-Boggling Optical Illusion Houses That Have To Be Seen To Be Believed

Excerpts: Photo above info:

2. 8198 Uphill Rd, Joshua Tree, CA

Price: $17,950,000

The Invisible House: This mirrored mansion is the brainchild of film producer Chris Hanley and Frank Gehry collaborator Tomas Osinski, who designed the home to seemingly vanish into its desert surroundings.

At first glance, you might not notice the 5,470-square-foot residence staring back at you. Nestled on 67.5 acres, the shimmering structure was created with the intent of connecting its residents with the desert through the mirrored glass exterior. The three-bedroom estate’s interior is just as astonishing featuring retractable glass walls; a 100-foot, heated indoor swimming pool; and a 224-square-foot, white wall designed for movie screenings.

Whether you are looking for a home that quite literally disappears into the Arizona desert or one that mirrors its landscape in the Hamptons, these works of jaw-dropping art not only offer a captivating design but a remarkable setting.

From California to New York, we found five optical illusion abodes that will leave you wondering if they are playing tricks on your eyes.

To read more, Click Here

My comments: Click on the addresses for the listing. I have written about some of these before. I am fascinated by these types of homes. Now you can see 5 of them in one link. My favorite is the home in the photo above.

Read more!! →

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Time Adjustment Changes for Appraisers

By on April 25, 2025   /   appraisal business, Appraisal Subcomitee, ASC, New URAR, time adjustments   /   Leave a comment
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Newz: Time Adjustments, 2025 ASC Appraiser Data Analysis, Fannie Fraud

April 25, 2025

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

  • LIA ad – Weather Impact
  • I Went Down to the Crossroads – Time Adjustments By Tim Andersen, MAI
  • Occidental Treehouse Named California’s Most Wish-Listed Airbnb
  • Analysis of 2025 ASC Appraisal License Data By Chase Pursley
  • Fannie Mae Fraud and Abuse Exposed By Jeremy Bagott, MAI
  • Appraiser Growth and Profitability: Key Things to Focus On By Isaac Peck, Publisher
  • Mortgage applications decreased 12.7 percent from one week earlier

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I Went Down to the Crossroads

Time Adjustments

By Tim Andersen, MAI

Excerpts: Is real estate appraisal, with the issue of more detailed time adjustments, at another cross roads now? In the past, appraisers simply smoothed changes in sales prices over time by measuring prices as of January 1st, then again as of December 31st. If they went up an average of six percent (6%) annually, then the appraiser made a one-half percent adjustment each month.

This protocol inflates prices at six percent (6%) per year, true. But it does not reflect the fact that for the first three quarters of the year prices may have increased at twelve percent (12%) per year, then in the last quarter went flat with a zero percent (0%) price change.

In this example, consider that a comparable sale going under contract at the beginning of the fourth quarter of the year would merit no time adjustment whatsoever. Nevertheless, the appraiser using the smoothing technique will adjust that sale upward at one-half percent per month over a time span when the market is actually flat. That appraiser is merely filling forms, not appraising. How so?

To read more, Click Here

My comments: Very good article on the “new” time adjustment techniques. Interesting music analysis and how it applies to appraising.

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Occidental Treehouse Named California’s Most Wish-Listed Airbnb

Excerpts: Nestled among towering redwoods in western Sonoma County, the Spectacular Spyglass Treehouse in Occidental has earned the title of California’s most wish-listed Airbnb, part of the vacation rental platform’s roundup of top-trending stays in each U.S. state.

Perched high in the forest canopy, the Spyglass Treehouse — designed and built by Artistree Home — offers guests the rare chance to sleep among the redwoods without sacrificing luxury.

The one-bedroom retreat features a king-size bed, high-speed Wi-Fi, floor-to-ceiling windows with panoramic forest views, a cedar hot tub and an indoor infrared sauna.

To read more, Click Here

My comments: A cabin near the redwoods was one of the first places I lived after moving to San Francisco from Oklahoma in 1968. I became fascinated with redwoods. Very close to my cabin was a small redwood grove. I used to go there and lie down to watch the trees. Later I traveled and saw redwoods that were much larger. I am now living about 5 miles from redwood groves to visit

Read more!! →

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Manufactured Home Appraisals

By on April 11, 2025   /   appraisal how to, GSEs, HOME INSURANCE, liability, New URAR   /   Leave a comment
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Newz: Appraisal Cartoon, Manufactured Homes,
Homes Lacking Insurance

NOTICE: Our Email was down from April 3 – April 9.

Our apologies for any bounced emails.

April 11, 2025

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

  • LIA ad Protecting My Appraisal Report
  • Appraising Manufactured Homes – What Fannie Says, Demographics
  • The Vermont Earth Home, the Dome Home, the Vermont Mud Hut…
  • Very funny appraisal cartoon – Magician Explains Time Adjustments!
  • How Many U.S. Homes Lack Insurance?
  • What Are the Appraiser Independence Requirements?
  • Mortgage applications increased 20.0 percent from one week earlier

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Appraising Manufactured Homes – What Fannie Says, Demographics

Excerpts: MH Advantage is an innovative homeownership option that pairs affordable financing with specially designated manufactured housing features typical of site-built homes.

Completing an MH Advantage appraisal requires the knowledge and experience to fully understand the unique construction process of this type of manufactured home. Appraisers must know the manufacturers’ and federal, state, and local requirements for both construction and installation.

The requirements for an MH Advantage appraisal are similar to the requirements for a standard manufactured home. Featured differences include:

Appraisers must include photos of the HUD Data Plate, HUD Certification Labels, and MH Advantage Sticker as well as the driveways, sidewalks, and detached structures located on the site.

To read more, Click Here

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Manufactured Homes: An Alternative Means of Housing Supply – Demographics

Excerpts: Manufactured homes play a measurable role in the U.S. housing market by providing an affordable supply option for millions of households. According to the American Housing Survey (AHS), there are 7.2 million occupied manufactured homes in the U.S., representing 5.4% of total occupied housing and a source of affordable housing, in particular, for rural and lower income households.

Given that most manufactured homes were produced in the 1990s, a significant portion of the existing manufactured home stock — approximately 72.2% — was built before 2000. Consequently, 7.7% of these homes are classified as inadequate compared to 5% of all homes nationwide. About 2% are considered severely inadequate and exhibit “major deficiencies, such as exposed wiring, lack of electricity, missing hot or cold running water, or the absence of heating or cooling systems”. However, with proper maintenance, manufactured homes can be as durable as site-built homes.

The East South Central division (Alabama, Kentucky, Mississippi and Tennessee) have the highest concentration of manufactured homes, representing 9.3% of total occupied housing. The Mountain region follows with 8.5%, while the South Atlantic region holds 7.7%.

To read more and see excellent illustrations, Click Here

My comments: If you live in an area with manufactured homes, these two articles can help.

In my urban area I have appraised a few homes built in cities where there were very few manufactured homes.  In some areas there are many more. My brother lived in a semi-rural area, north of San Francisco. A while ago there was a major fire destroying many homes. Owners who wanted a quick rebuild, chose manufactured homes. They were allowed on many of the parcels for many years.

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Appraisers and Firearms

By on April 4, 2025   /   appraisal business, Appraisal Institute, Economic analysis, GSEs, humor, New URAR   /   Leave a comment
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Newz: Appraisers and Firearms,Future of Home Finance and GSEs, Q1 2025 Fannie Mae Appraiser Update – New URAR

April 4, 2025

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

  • LIA ad: A Family Feud and Intended Use
  • Experiences with Firearms as an Appraiser: When Tenants Behave Unexpectedly in “Their Area”
  • Billionaire Opendoor Founder’s Three-Winged ‘Propeller Home’ Hits the Market for $40 Million
  • Appraisal Institute Scandal – Widespread Fraud Uncovered
  • Housing Market Shows Early Signs of Spring By Kevin Hecht, SRA
  • Reshaping Home Finance: The Future of Fannie Mae, Freddie Mac, and U.S. Mortgage Policy By Rob Chrisman
  • Originator jobs; Stated income loans; DOGE shifts its attention; Fannie lawsuit; clear path for rates By Rob Chrisman
  • Q1 2025 Fannie Mae Appraiser Update! – New UAD Sample Reports and Ratings, Time Adjustments
  • Mortgage applications decreased 1.6 percent from one week earlier

 

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Experiences with Firearms as an Appraiser: When Tenants Behave Unexpectedly in “Their Area”

Excerpts: Appraisers often find themselves in a wide variety of settings and situations. I mean, we are entering people’s homes, somewhere that most people see as their comfort zones and a place they are not open to having a stranger poke around in. We as professionals understand this and usually try to make it as quick and painless as possible. There are those moments where it turns into a “memorable experience” and homeowners or tenants feel like they must make it known we are not welcome.

I personally am batting .1000 this year on multi-family properties, where tenants have felt it was necessary for me to get the message, by brandishing a firearm. I will share the following two situations, how I personally managed it, explain why I do not personally carry a concealed firearm, and ask you readers to tell me if this is common or for similar memorable experiences.

For more information and to read the appraiser comments, Click Here

My comments: My first appraisal-related job was with the Monterey (California) County Assessor’s office. It was transitioning to computerized valuation. I was a temporary “appraiser assistant” hired to go to properties to see if the county appraisal records needed updating.

In those days (mid-1970s), properties were reappraised regularly to increase the assessments and property taxes were increased.

I knocked on the door and was met with a man carrying a shotgun. He said: Go away assessor! I don’t remember the city, but it was not in a rural area. I left and told my supervisor to find someone else to do the inspection.

I have never owned a firearm and would never carry one. No one I knew owned a firearm except for my husband, who had firearm training when he was teaching horticulture at a state prison. I would not allow a firearm in our house but still keep a baseball bat by my front door “just in case”.

But, recreational firing at a target was on my “bucket list”. An appraiser friend took me to a local firing range. I tried handguns, rifles and shotguns. Some worked like machine guns with many bullets fired at one time. I really liked it the best. Next time I go to Las Vegas I will try out real machine guns. Trying to hit a target did not appeal to me. Ya never know until you try!

Of course, I have had many encounters with dogs. One was when I was appraising the house of an appraiser I knew. I was met with small dogs biting my ankles. When the owner put the dogs away I continued with the appraisal. Another time, in a rural area, 3 large Dobermans broke down the door of a mobile home and ran toward me. I managed to get in my car. I told the lender to get another appraiser.

When markets crashed I did a lot of foreclosure appraisals. I made a lot of noise opening the door and loudly saying I was an appraiser for the lender and needed to come inside. I never had a problem. But some appraisers requested that a police officer accompany them when the home looked “sketchy” to them from the outside.

Read more!! →

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