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The Challenges with Appraising Multiple-Unit Properties

Appraising multiple-unit properties is usually more complicated than appraising single-family homes. Two-, three-, or four-unit buildings are sometimes subject to confusion when it comes to arranging a loan for purchase or refinancing. Generally, appraisers use the market approach when appraising multiple-unit properties. They will look at sales of comparable properties, typically within the past 12 months and within a 1-mile …

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FREE McKissock Learning Webinar on Appraising in a Pandemic

On Wednesday, April 29, 2020, McKissock Learning will host a free webinar titled “Appraising in a Pandemic.” We will speak with a panel of experts to discuss the challenges real estate appraisers are facing, the creative technology solutions available, and recommended actions that appraisers can implement to address COVID-19’s impact on appraising residential properties. The panel will share virtual inspection …

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6 Quick Tips for Appraising Kitchens

For a potential buyer, the kitchen is often the most important room in the house. A well-appointed and attractive kitchen can help overcome numerous other flaws and deficiencies, whereas an otherwise great house that has an unattractive, outdated, or inadequate kitchen will be difficult to sell. Despite this, some appraisers don’t spend a great deal of time looking at the …

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Quality Adjustment Research and Methodology: The Basics

Quality and condition are not the same. Quality refers to the quality of items, materials, and construction. When making appraisal adjustments, examine the quality of your data and remember that any quality ratings in your county records or MLS are not always reliable. Here are some basic things to consider regarding quality adjustment research and methodology. Sources of data A …

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The Business Side of Running An Appraisal Business

This is a reprint from the Appraisal Buzz Blog and can be found here. As a part of your expertise in a niche business like the appraisal industry, there are many things you probably don’t need help with. Things like setting fees, choosing comps, pulling flood maps, or finding sources for data all come second nature now. However, there are other elements …

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Understanding UAD Quality Ratings

Ever since Fannie Mae and Freddie Mac (the GSEs) created the Uniform Appraisal Dataset (UAD) several years ago, real estate appraisers must rate building quality on a standardized scale from Q1 (best) to Q6 (worst). If you are performing appraisals for the intended use of secondary market mortgage lending, it’s essential to have a clear understanding of the UAD quality …

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Fannie Mae Discusses Temporary Revisions to GSE Appraisal Requirements [Video]

On March 25, 2020, McKissock Learning hosted a webinar in which appraisers were able to hear directly from a Fannie Mae representative and ask questions regarding the temporary revisions to GSE appraisal requirements as a result of the coronavirus crisis. Watch the live recording of the webinar below. Disclaimer: This recording reflects the temporary appraisal inspection guidelines during the coronavirus …

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