The myth of the good, cheap, and fast appraisal

Can an appraisal be good, fast, and cheap? It seems that in today’s world appraisers are being asked to do something that’s impossible. Most appraisers are deluged with work as a result of low interest rates and the surge in refinances due in part to Brexit. Still, some clients believe that the myth of the good, […]

What is the FHA rule for appliances?

Understanding the FHA rule for appliances Are you confused about the FHA rule for appliances in the homes you are selling? If so you will want to continue reading so you’ll understand how it is handled in the appraisal. Agents that are proactive will help expedite the appraisal process and minimize delays in closing. Are appliances […]

Will a finished basement add value to a home?

Does a finished basement add value? A question I get quite often from agents is “Does a basement add value to a home and how much value should I use? This usually occurs when they are doing a CMA and looking at comps to come up with a value for a listing. The simple answer […]

Agents, are you preventing appraisers from doing their job?

Is preventing appraisers from doing their job on the rise? In a recent episode of Phil Crawford’s “Voice of Appraisal” podcast show on Youtube (he starts talking about it at around the 27:30 marker), the host reported that some appraisers are being denied access by agents to homes they have been asked to appraise. It seems […]

Why agents should be aware of the sales history of the subject property

What can the sales history of the subject property tell us? In a recent post about red flags that agents should be aware of in an appraisal I noted that big increases in asking and/or contract price for a home within a short period of time can create a red flag to appraisers and lenders. Appraisers are […]

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