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Home Sales, US Real Estate

High demand for appraisals is delaying the underwriting process

By Mike Wheatley | August 7, 2020
Home appraisers are struggling to keep up with a sudden surge in home buying and refinancing. As a result, turnaround times for appraisals are increasing, causing delays in the underwriting process, HousingWire reported this week. HousingWire said a survey of lenders showed that many are being quoted two to three weeks for an appraisal, which […]
Home Sales, US Real Estate

More home sales can go ahead without an appraisal

By Mike Wheatley | October 1, 2019
Federal banking agencies are increasing the property value limit under which buyers of certain homes must obtain an appraisal for the first time in 25 years. Now, certain homes worth $400,000 or less can instead by subject to a simple evaluation rather than a proper appraisal. The rules were last changed back in 1994, when […]
real estate investing
News, Real Estate Investing

Fool-Proofing Your Real Estate Investment: 8 Common Mistakes to Avoid

By Shoshana Winter | October 1, 2019
An industry expert discussed 8 common real estate investment mistakes real estate investors make and how due diligence can mitigate loss.
Real Estate Technology, US Real Estate

Automated home appraisals to become more widespread

By Mike Wheatley | August 28, 2019
Mortgage companies are increasingly turning to computer algorithms to appraise seller’s homes, and a new federal proposal may see the practice become even more widespread, the Wall Street Journal reports. According to the Journal, federal regulators want the majority of U.S. homes valued at less than $400,000 to be exempt from a requirement that says […]
Bowery Valuation,
Featured News, Real Estate Technology

Bowery Valuation Snags $12 Million More in Funding

By Phil Butler | January 11, 2019
The New York-based Bowery Valuation has just announced Series A funding in the amount of $12 million.
US Real Estate

Risk of "wildly inaccurate" home estimates if automation replaces human appraisers

By Mike Wheatley | November 28, 2018
Federal agencies are trying to push the concept of automated home appraisals, but appraisers worry that the plan could lead to “wildly inaccurate” valuations of some homes. The idea is to reduce the number of homes that require an in-person appraisal by a human, in order to speed up closing times and save money for […]
Commercial Real Estate, US Real Estate

New rule exempts low-cost commercial property from appraisals

By Mike Wheatley | May 1, 2018
Almost one-third of commercial property sales will become exempt from the need for an appraisal following changes to federal rules.
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