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 […]
Risk of “wildly inaccurate” home estimates if automation replaces human appraisers
November 28, 2018 by Leave a Comment
Freddie Mac expands appraisal waiver to condo buyers
July 6, 2018 by
Condo buyers and refinancers could be eligible for a new program that allows them to bypass a traditional in-person appraisal with a faster automated process, Freddie Mac said last week.
Is a no-appraisal mortgage really worth it?
May 23, 2018 by
Around five percent of Fannie Mae’s 1.2 million home mortgages have met the criteria for not needing a traditional in-person appraisal since new rules were introduced last year, according to the Washington Post
New rule exempts low-cost commercial property from appraisals
May 1, 2018 by
Almost one-third of commercial property sales will become exempt from the need for an appraisal following changes to federal rules.
Appraisal Foundation seeks to address labor shortage
April 3, 2018 by
The Appraisal Foundation’s Appraiser Qualifications Board is to ease the requirements for individuals to become an appraiser in order to combat labor shortages.
Appraisers and homeowners now see eye-to-eye
January 17, 2018 by
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
September 21, 2017 by
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.
NAR report highlights growing appraisal problems
May 2, 2017 by
The National Association of Realtors has just published its latest realtor’s Confidence Index for March 2017, highlighting some of the biggest roadblocks in the way of closing real estate transaction
Homeowners and appraisers disagree on home valuations
April 14, 2017 by
The gap between homeowner’s perceptions of their properties’ value and what appraisers say their homes are actually worth is growing bigger
Homeowners & property appraisers see eye-to-eye
November 11, 2016 by
Homeowners and real estate appraisers are finally seeing eye-to-eye (almost!) following years of contrasting opinions over the valuation of properties.
