Thursday , 1 October 2020

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10 Awesome Appraisal Checklists (Free for Members)

Here at McKissock, our Unlimited Learning Members enjoy 24/7 access to a wide array of online resources for real estate appraisers. These include appraisal checklists, classes, videos, whitepapers, recorded webinars, and more. Below are ten awesome checklists available right now in our membership toolkit. If you already have an Unlimited Learning Membership, you can access all of these appraisal checklists …

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Functional Obsolescence Examples: How to Account for a Superadequacy

An overbuilt improvement or superadequacy (a type of functional obsolescence) is more probable in a luxury home than a standard home. As a luxury home becomes more unique, the costs will typically increase, which in turn shrinks the pool of available buyers and increases the likelihood of a superadequacy. Below, we break down some important information for luxury real estate …

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7 Best Time-Saving Hacks for Real Estate Appraisers

If you operate as an independent real estate appraiser, you know that time is money. Are you looking for new ways to increase your efficiency as a property appraiser? To help you out, we asked our Facebook community, “What are the best time-saving hacks for appraisers?” Check out the following tricks contributed by real-life appraisers. 1. Anow software Anow’s appraisal …

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Predatory Lending and the Role of the Appraiser

Over a decade after the 2008 financial crisis, the prevalence of predatory lenders continues to plague the U.S. marketplace. Generally speaking, appraisers are not predatory. They do not create predatory lending and fraud schemes. And in the vast majority of cases, they do not share in the profits of those who do. However, appraisers do play a role in predatory …

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5 Appraisal Assignments that Raise Your Liability Risk

As a professional real estate appraiser, it is simply not possible to eliminate liability entirely. Rather, the goal is to manage your liability. You can start by being aware of the level of risk involved in different types of appraisals. Some assignments come with higher liability risk than others—whether due to the type of client, the intended users, the number …

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4 Common Pitfalls in Appraising Proposed New Luxury Homes

Luxury home appraisal is a niche that’s both exciting and challenging. If you’re thinking about specializing in this area of real estate appraisal, you may want to educate yourself on the specific challenges you’ll face so that you can avoid making common errors. In particular, you may run into some difficulties when appraising proposed new luxury homes. Here are some …

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These Fictional Luxury Homes Would Be Really Fun to Appraise

If you’re a real estate appraiser looking for an exciting new challenge, luxury home appraisal is a desirable niche to consider breaking into. Just for fun, we recently asked our appraisal community, “Which fictional luxury home would you want to appraise?” Answer choices ranged from Tony Stark’s ultra-modern Malibu mansion from the Iron Man movies to the English Jacobean manor …

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GSEs Extend COVID-19 Temporary Flexibilities

On May 5, 2020, Fannie Mae announced that the temporary appraisal flexibilities that were outlined in Lender Letter 2020-04 (LL-2020-04) have been extended until June 30, 2020. The revised Lender Letter can be found here. Freddie Mac made a similar announcement, also extending their flexibilities until June 30. Fannie Mae reminds appraisers about their Appraisers page which can be found …

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