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.
In some markets, especially large cities, condominiums are a popular choice for homeowners because there is not as much space for additional housing units.
The Federal Housing Administration (FHA) announced a delay for the start date of provisions contained in its 2015 Single Family Housing Policy Handbook.
California is in the middle of a historic drought, and the lack of water may have an impact on real estate values.
Although homeowners likely know the fixtures and exteriors of their houses impact their value, they may not be aware of how neighboring properties influence appraisals.
Homeowners need to know which renovations and upgrades have the most significant influence on the value of a home.