Comparing Zillow and Redfin Market Value Estimation

Comparing Zillow and Redfin as two of the best real estate valuators powered by data. In the end, get an appraiser.

High demand for appraisals is delaying the underwriting process

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

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More home sales can go ahead without an appraisal

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

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

An industry expert discussed 8 common real estate investment mistakes real estate investors make and how due diligence can mitigate loss.

Automated home appraisals to become more widespread

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

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Bowery Valuation Snags $12 Million More in Funding

The New York-based Bowery Valuation has just announced Series A funding in the amount of $12 million.

Risk of “wildly inaccurate” home estimates if automation replaces human appraisers

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

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New rule exempts low-cost commercial property from appraisals

Almost one-third of commercial property sales will become exempt from the need for an appraisal following changes to federal rules.

Appraisers and homeowners now see eye-to-eye

Experts say that the gap between appraisers’ and homeowners’ estimations of their homes’ worth is getting smaller.
The two parties perceptions of value is getting closer, though homeowners still do tend to slightly overestimate the price of their home.

How automation is threatening the appraisal industry

Appraisers might be starting to feel a little hot under the collar amid the growing realization that advances in automation and artificial intelligence technologies could one day threaten their jobs.

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