During the recession, many professional appraisers needed to build experience in assessing foreclosures, preforeclosures and real-estate owned (REO) properties.
Homeowners often go overboard with making improvements to their homes in preparation for an appraisal.
Several agencies released the long-awaited final minimum requirements to regulate appraisal management companies (AMCs).
Starting in 2016, the U.S. Federal Housing Administration (FHA) will require all appraisal reports for its single-family insured mortgages to be submitted online.
Each appraisal provides different considerations for professionals because they need to evaluate variations in different properties and across different types of housing.