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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What’s a comparable property for appraisals?

By on June 13, 2025   /   appraisal, bias, Fannie, liability, real estate market   /   Leave a comment
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Newz: Q2 Fannie Appraiser Update, Appraiser Wins Discrimination Lawsuit

June, 13, 2025

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

  • LIA ad: Am I Still on the ‘Do Not Use’ List?
  • What’s a comparable property? Or a “comp,” as we say more informally? By Bryan Reynolds
  • Rotterdam’s Yellow Cube Homes
  • Q2 2025 Fannie Mae Appraiser Update – UAD 3.6
  • A Back to the Future Housing Market By Ryan Lundquist
  • Case Dismissed: Ohio Appraiser Wins Discrimination Lawsuit by Isaac Peck
  • Mortgage applications increased 12.5 percent from one week earlier

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Real Estate Agents and Comparable Sales – Tips for Appraisers

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What’s a comparable property? Or a “comp,” as we say more informally?

By Bryan Reynolds

Excerpts: Let me give you an example of an appraisal report I saw recently, which is why I’m asking this question: There are 65 comparable properties currently offered for sale in the subject’s neighborhood, ranging from a price of $330,000 to $5,400,000. The report also states that there are 44 comparable sales in the subject’s neighborhood within the past 12 months, ranging from $152,000 to $2.2 million. That’s a big range. Are you comfortable putting that in your report?

What does the term “comparables” even mean? Let’s go to the authoritative sources. Here’s one: The Dictionary of Real Estate Appraisal, published by the Appraisal Institute. It defines comparables as “a shortened term for similar property sales, rentals, or operating expenses used in the comparison in the valuation process and best usage. The thing being compared should be specified.” In other words, are you looking at comparable sales, comparable rentals, or comparable listings?

Lastly, I’m going to pull up the Encyclopedia of Real Estate Appraising. It’s a great big book, and it has a whole section on this. I highlighted one part of it because I like it: “What is a comparable property? It is one that would be a reasonable alternative for most prospective buyers who would be interested in the subject property.”

What is a comparable property? It is one that would be a reasonable alternative for most prospective buyers who would be interested in the subject property.” —Encyclopedia of Real Estate Appraising

That’s very simple, and it invokes some good, common sense

To read more, Click Here

My comments: Lots of opinions on this topic!

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29008552 – innovative yellow cubic houses built in rotterdam

Rotterdam’s Yellow Cube Homes

Excerpts: Both a popular tourist attraction and a strange architectural experiment, the cluster of 39 homes stands out amongst the city’s mostly modern architecture. However, that is what makes these “cube-perched-on-a-point” homes all the more interesting.

he elevated cubes are essentially houses supported on hexagonal piers; this design frees up the ground space for public use. Each cube measures 72 feet in height with each side measuring 25.5 feet. While the pillars and floor are made from reinforced concrete, structural wooden skeletons from the base for constructing the cubes were mounted on the floors’ edges. Interestingly, cement panels with rockwool insulation in the middle resulted in cutting down on almost all exterior sounds.

Inside, the complicated form meant that the interior walls were angled at 54.7 degrees with the floor. The consequences of this construction detail is that 25% of the almost 1,100-square-feet of living space is unusable because of the angular walls. The interior is divided into three floors that are connected by a narrow wooden staircase. The ground level houses in the living room and an open kitchen with plenty of windows. The second floor has two bedrooms, a bathroom, and a small living area. Finally, the third floor is a three-sided pyramid that can be used as a bedroom or an office.

To read more and see interior photos and floor plans, Click Here

My comments: Fascinating, with very good photos.

Read more!! →

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Appraisers: Advice On Staying Current

By on February 28, 2025   /   AMCs, appraisal, appraisal how to   /   Leave a comment
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Newz: AMCs Fee Skimming Lawsuit, Appraising a Hobbit Hole

February 28, 2025

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

  • LIA ad: Disclosing Identity of Complaining Party
  • On Staying Current By Timothy Andersen, MAI
  • Futuristic $177 Million Bel-Air Megamansion With Its Own Private Jazz Club Hits All the Right Notes
  • Appraising a Hobbit Hole: The Property Value of Bag End
  • AMCs Deceptive Fee Skimming Exposed in Lawsuit
  • The 10 Most Expensive Home Listings and Home Sales in the U.S.
  • February 21, 2025
  • Mortgage applications decreased 1.2 percent from one week earlier

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On Staying Current

By Timothy Andersen, MAI

Excerpts: In this monograph, we discuss the absolute necessity of developing more than one skill set as part of becoming a competent and professional real estate appraiser.

Real estate appraising is a complex practice that requires a diverse range of skills and knowledge, from understanding current market conditions to understanding and interpreting complex legal and financial documents. If you want to be your own boss, it also requires business acumen.

At its core, real estate appraising involves the due diligence necessary to form a credible opinion of the market value of a particular property. This requires a deep understanding of the appraiser’s local real estate market, as well as of the physical, legal, and economic factors that influence property values in it. However, becoming a successful real estate appraiser requires more than mere market knowledge.

It also requires a range of other skills, including the ability to conduct thorough research, analyze mountains of data, communicate persuasively and effectively with and to other professionals, and manage complex projects. These are all aspects of being an appraiser they do not teach us in appraisal school.

Most importantly, successful appraisers must adapt to changing market conditions and trends. Currently there are so many of these ongoing, especially as the GSEs are about to inaugurate UAD-2 to replace their archaic appraisal reporting forms. This means continually learning and developing new skills to stay ahead of the curve.

To read more, Click Here

My comments: Good analysis of appraising. I have been appraising for 50 years and I still love it. I am easily bored, but every property is different and market conditions change regularly where I work. I am always learning something new.

If this seems overwhelming to you or other post-licensing appraisers, it is not your fault. Unfortunately, after licensing started many trainees hired other trainees. Almost all had poor training and classes. I was unable to refer wannabes to professional associations as they only wanted classes for members, not for new appraiser. Changing what you learned when you started is very difficult to do. I was very fortunate as I started before licensing and had very active local chapters of AIREA and SREA predecessors of the Appraisal Institute. The appraisers I met had lots of experience. They helped me whenever I had any questions. I learned how to lender appraisals plus many types of non-lender appraisals correctly from them.

Read more!! →

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Appraising Unique Homes

By on January 10, 2025   /   appraisal, appraisal business, Economic analysis, forecast, GSEs, retirement, ROVs   /   Leave a comment
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Newz: GSE Privatization, 2025 Forecasts, Unique Homes

January 10, 2025

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

My comments on topics: This newsletter is long. Almost all the news items I have received are 2025 Forecasts, so I have included some of them in this newsletter.

    • LIA: Disclosing Identity of Complaining Party
    • Why Selling a Unique Home Is Challenging — and Can Leave Some Owners Feeling ‘Stiffed
    • 2025 Housing Market Predictions: Key Insights for Real Estate Appraisers The National View
    • Real estate trends to watch in 2025 – The Local View
    • Appraisal Industry Outlook Under Trump Administration
    • Will Homeowners Finally Sell in 2025? Here’s What the Experts Say, Amid a Glimmer of Hope
    • GSE Privatization A ‘Herculean Task’
    • Mortgage applications decreased 3.7 percent from one week earlier

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

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Why Selling a Unique Home Is Challenging — and Can Leave Some Owners Feeling ‘Stiffed’

Excerpts: When Ann Levengood decided to let go of her beloved double-dome home two hours outside of Seattle, she thought she did everything a seller needed to do to get a good price.

“We built a new garage and completely did the heavy work with a $50,000 new roof, new drainage, new retaining walls, landscaping (including removal of alder trees), interior was completely redone, new lighting, new skylights, you name it. We had zero tasks upon inspection,” she tells Realtor.com®

“The inspector had never seen such a clean house.” But when it came time to price the Poulsbo property, Levengood and her agent didn’t see eye to eye. While the proud owner wanted to price the house at $425,000, the cautious agent listed it at $339,000.

The problem? The house, with its double domes, was unusual.

Even so, the home took only two months to close a sale at full price, leaving Levengood with the lingering feeling that she had been stiffed. “I couldn’t even get agents to come out and see it,” she says.

Not only can it be more difficult to find the proper buyer for such a home, but it is also challenging to find comps.

To read more, Click Here

My comments: Worth reading the article. All appraisers appraise unique homes, which are often very challenging, especially for comps and market analysis. This article helps appraisers understand the difficulties in selling unique homes. I have never read about this important topic.

Read more!! →

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Appraising Unique Properties

By on December 13, 2024   /   adjustments, AI, appraisal, bias, Economic analysis, forecast, future, Highest and Best Use, retirement, ROVs   /   Leave a comment
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Unique Properties, Rocket Mortgage Sues HUD, Trump Shifts in Housing Market?

December 13, 2024

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

    • LIA ad – Each appraisal is unique
    • The Ultimate Guide to Unique Property Appraisals
    • America’s Most Expensive Property Is Sitting in a Flood Zone—Will Anyone Buy the $295 Million Estate?
    • Rocket Mortgage Sues HUD Over Regulatory, Enforcement Discrepancies
    • Donald Trump’s Second Term Could Bring ‘Significant Shifts’ to the Housing Market
    • Report: What’s Driving the Recent Refi ‘Boom?’
    • Mortgage applications increased 5.4 percent from one week earlier
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The Ultimate Guide to Unique Property Appraisals

Excerpts: When faced with a truly unique property, the standard approach of pulling recent comparable sales from the neighborhood simply won’t cut it.

These properties require a real estate appraiser with a different mindset and a more creative approach to valuation.

Here’s a quick break down of exactly how unique property appraisals differ from traditional approaches:

Breaking Down the Time Barrier

One of the most common misconceptions is that we can only use recent sales. For unique properties, this simply isn’t true. Here’s why:

Expanding Geographic Boundaries

Location matters, but for unique properties, finding truly comparable homes often requires the appraiser to look beyond the immediate neighborhood:

The Bottom Line

Appraising unique properties requires breaking free from traditional constraints while maintaining professional standards.

To read more, Click Here

My comments: Good summary of the issues. Read the details plus a table comparing traditional and unique properties. Almost all appraisers appraise unique properties, if only occasionally. This is written for real estate agents, but very useful for appraisers.

I regularly hear about AMCs trying to find an appraiser to do one of these properties. They keep shopping for low fees and fast turn times. After a while they finally go with the appraiser who can do them at a good fee and reasonable turn times.

If you can appraise unique properties you have a substantial advantage over less experienced appraisers. Now is an excellent time to try doing one, especially if your business is slow now.

Read more!! →

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“Death Stairs” for Appraisers

By on November 22, 2024   /   appraisal, climate change, forecast, GSEs, liability, modernization, Mortgage interest rates, New URAR, retirement, ROVs, zillow   /   Leave a comment
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Newz: New URAR Training, “Death Stairs”, Catastrophe and Climate Risk

November 22, 2024

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

  • LIA Buyer says value too high
  • The Rise of the ‘Death Stairs’! Inside ‘Perilous’ Home Trend Taking the Internet by Storm — and How To Conquer It Safely
  • Infinity Symbol-Shaped Circular House Hits the Market for the Unique Price of $3,399,888
  • ARCC (Appraisal Regulation Compliance Council) Podcast with Guest Mark Calabria – AVMs, GSEs, and more
  • NAR Chief Economist Lawrence Yun Forecasts 9% Increase in Home Sales for 2025 and 13% for 2026, with Mortgage Rates Stabilizing Near 6%
  • Catastrophe and Climate Risk Is Only Increasing – Lender and Servicer issues
  • New Uniform Residential Appraiser Report Training (for lenders but useful for appraisers)
  • Mortgage applications increased 1.7 percent from one week earlier

 

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The Rise of the ‘Death Stairs’! Inside ‘Perilous’ Home Trend Taking the Internet by Storm—and How To Conquer It Safely

Excerpts: Thrill-seekers who are in desperate need of an adrenaline boost need look no further than their own home for their next dose of action—that is, if they are (un)lucky enough to be in possession of a set of “death stairs.”

While walking down a flight of stairs has not historically been considered the most death-defying of acts, one group of social media users is on a mission to change that misconception by highlighting the most dangerous, baffling, and downright weird step designs across the world, starting in their own homes.

In a now-viral Facebook group, which is named “Death Stairs,” hundreds of users have been sharing images of the most mind-boggling steps they have come across, from those so steep that few would dare to descend them, to edgy designs that appear near-impossible to mount.

To read more, Click Here

My Comments: Appraisers see some strange stairs. I have seen many. Usually DYI. I really hate the very narrow spiral staircases – often the only access to a part of the home. And old exterior wood stairs with very shaky hand rails.

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Appraising Kitchens

By on November 1, 2024   /   AMCs, appraisal, appraisal modernization, liability, UAD, waivers   /   Leave a comment
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Newz: FHFA Waiver Expansion, AMC Appraisal Fees, Appraising Kitchens

November 1, 2024

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

  • Construction Progress Inspection Reports: Claims Involving ADUs and Remodels
  • Appraising Kitchens: Understanding Trends, Functionality, and Market Expectations
  • Lake Tahoe Ranch Hits the Market for $188 Million, Making It One of the Priciest Listings in the U.S.
  • FHFA’s Appraisal Waivers Expansion
  • The Great Debate on Appraisal Fees
  • Updated UAD redesign timeline with specific implementation dates
  • Mortgage applications decreased 0.1 percent from one week earlier

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Appraising Kitchens: Understanding Trends, Functionality, and Market Expectations

Excerpts: When it comes to real estate appraising, kitchens often play a pivotal role in determining a home’s value. A well-appointed kitchen can significantly enhance a property’s appeal and marketability. As an appraiser, understanding the nuances of kitchens is essential to providing credible and insightful valuations. Let’s dive into appraising kitchens and how the room impacts market value.

Functional Obsolescence and Price Point

If a back corner kitchen or a galley kitchen does not align with current market preferences for homes of a similar age, it might be considered outdated and impact marketability. However, this does not necessarily rise to the level of functional obsolescence that must be remedied. An outdated but functional kitchen might not be a major concern in lower price ranges.

Conversely, in high-end homes, buyers expect the latest designs, features and finishes; and therefore, an outdated kitchen may be considered as functional obsolescence.

Appeal & Functionality Count when Appraising Kitchens

In conclusion, appraising kitchens requires a thoughtful, balanced analysis of market trends, quality, and functionality. While it’s important to understand current design preferences, the value of a kitchen is ultimately determined by how well it meets the expectations of buyers in a particular market.

A homeowner may have invested heavily in a kitchen renovation, but it is the appraiser’s responsibility to carefully consider factors such as conformity, local market preferences, and house style and price range when valuing the subject property. Remember, ultimately a kitchen’s value lies in its ability to enhance the overall appeal and functionality of the home, not its initial cost or the cost of renovation.

To read more, Click Here

My comments: This is the best analysis I have read on kitchens. Worth reading. Kitchens are a very important factor when buying a home. What is popular changes over time. Of course, appraisers see all types of kitchens.

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Lake Tahoe Ranch Hits the Market for $188 Million, Making It One of the Priciest Listings in the U.S.

Excerpts: sprawling Lake Tahoe estate known as Shakespeare Ranch hit the market on Monday for $188 million.

Not only is that a price tag that makes it the most expensive property on the market in Nevada, it’s also one of the priciest in the entire U.S., bested only by a small handful of homes in Los Angeles and South Florida.

Named after the nearby Shakespeare Rock, a nearby outcropping that is said to resemble the playwright, the property spans 130 acres on the eastern shores of Lake Tahoe and includes a colossal selection of amenities, from multiple properties and a historic barn to its own rodeo ground and private pier.

The ranch dates to the late 1800s, and its multiple properties include a 4,980-square-foot lakefront home with a waterside cabana, an under-construction 7,713-square-foot architect-designed residence and a number of cabins.

he historic barn on the property was built in 1873 and is currently outfitted with a commercial kitchen, a game center and a wine room.

The property also has a pool house with an indoor pool and spa, a gym, lawns, gardens, an office suite, a staging kitchen for catering, two boat lifts, 14 buoys and a boat house.

To read more, Click Here

For video, photos, and more information and to see the listing, Click Here

My comments: I live within driving distance to Lake Tahoe and have been there many times. A beach with a dock and a boat house is a premium feature.

Read more!! →

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Appraiser and Real Estate Agent Communication

By on September 6, 2024   /   AMCs, appraisal, Appraisal fees, Economic analysis, non-lender appraisals   /   Leave a comment
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Newz: Disturbing AMC Violations, Appraiser and Real Estate Agent Communication

September 6, 2024

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

  • Top 10 Things Appraisers Wish Real Estate Agents Understood
  • Divorce Appraisal Red Flags
  • Carmel’s Iconic and Artistic ‘Owl House’ $3,750,000
  • Housing Market Update: August 2024
  • Please! Not Another Highest and Best Use Question?!
  • Appraisal Regulation Compliance Council Exposes Disturbing AMC Violations
  • Mortgage applications increased 1.6 percent from one week earlier

Real Estate Agents and Comparable Sales – Tips for Appraisers

Appraisal Business Tips 

Humor for Appraisers

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

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Top 10 Things Appraisers Wish Real Estate Agents Understood

McKissock Survey

Excerpts: Survey question: “What’s one thing you wish real estate agents knew about the appraisal process?”

Based on the answers we received, appraisers wish that agents knew the following:

  • The appraisal process is complex and takes time
  • Appraisers do not assign value
  • Appraisers are unbiased and must follow guidelines
  • Appraisers need their input and cooperation
  • How to select appropriate sales comps
  • The importance of providing accurate and detailed info in their listings
  • How to determine correct GLA (gross living area)
  • How renovations and upgrades affect value
  • How to prepare for the appraisal appointment
  • FHA/VA/USDA guidelines

Sample appraiser answers:

“How complex it really is. We don’t just pull numbers out of the air—they are market supported adjustments backed by ‘many angles“

Some brokers regard the appraiser as an adversary, who potentially can ruin their deal and end up without commission. They should learn that the appraiser is neutral and cooperating can be a benefit.”’ of research.”

“Entering an occupied home without agent or home owner present is a liability issue for appraisers—[we] need someone present to observe what we do.”

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My comments: Read the blog post and maybe get some good ideas for answering agent questions!

Many years ago a top local agent asked me why I was driving around taking photos. I explained they were similar homes (comps) I may be using in an appraisal. I realized she did not know much about what appraisers do.

When I started my appraisal business in 1986 I did presentations at all the local real estate offices, usually during their marketing meetings. I explained what appraisers do and how agents and appraisers can work together. They liked the information.

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