Remembering Don Machholz

appraisersblogs appraisersblogs | 1 year ago

Folks, yesterday, August 11, I received the following notice about Don Machholz from a California appraiser, who requested this be circulated: With sadness, I wanted to share the news of Don Machholz passing on Tuesday, August 9 in Wikieup, AZ due to complications with COVID-19. Don was a real estate appraiser from 2003-2018 and was well known within the appraisal industry. He was active in the Real Estate Appraisers Organization (REAA) and the Nevada County and Placer County Association of Real...

Corelogic Take on Appraisal Overvaluation - Appraisers Blogs

appraisersblogs appraisersblogs | 1 year ago

The results of this 2021 white paper: Appraisal overvaluation: Evidence of price adjustment bias in sales Comparisons co-authored by Frank Nothaft are pretty interesting. At first glance, I get the CoreLogic evil empire stuff, but step back and take it all in. Here’s the abstract.

FHA Extends Appraisal Validity Period - Appraisers Blogs

appraisersblogs appraisersblogs | 1 year ago

On July 12, 2022, the FHA announced that it is extending the initial appraisal validity period from 120 days to 180 days and the appraisal update validity period from 240 days to one year. This applies to case numbers assigned on or after June 1, 2022. This just seems like a bad idea at a time where many markets are seeing price declines. FHA INFO 2022-71 — July 12, 2022 In this Announcement: FHA Implements Revised Appraisal Validity Period Guidance Appraisal Logging Changes in FHA Connect...

"Flavors" of Appraisal Reports - Appraisers Blogs

appraisersblogs appraisersblogs | 2 years ago

SEE the differences between the THREE versions of the 1004 reports, what I euphemistically call “flavors.” Appraisers, recent watercooler discussions by appraisers focus on the new ‘desktop’ appraisals many will be requested to do. Now that the GSE’s have “formally” approved non-appraiser-inspected reports for first mortgage lending (or will very soon – not sure of the exact effective date), you may want to actually SEE the differences between the THREE versions of the 1004 repor...

The Appraisal Problem and Undue Diligence - Appraisers Blogs

appraisersblogs appraisersblogs | 1 year ago

Gone are the days of hiring a professional appraiser to solve the appraisal problem. For decades lenders have taken on the responsibility of shaping the appraisal process and dictating the solutions to the appraisal problem. Savvy appraisers push back in a positive fashion to try and enable the lender to receive a report that not only meets USPAP, FIRREA, Fannie Mae, or HUD/FHA/VA an UAD reporting guidelines, but also provides the client with a report that is clear, concise, accurate and not mis...

Lender Liability for a Negligent Appraisal? - Appraisers Blogs

appraisersblogs appraisersblogs | 1 year ago

As residential property prices plateau or decline in various markets and as borrowers have financial problems with fewer financing options, there are more legal claims being filed by borrowers against appraisers and lenders in relation to appraisals for loans made in recent years. Essentially, the cases are situations of “buyer-borrower remorse.” Leaving aside the appraiser’s potential liability, does a mortgage lender have liability to the borrower for a negligent appraisal? An Ohio appe...

Appraisers voice opinions on AMCs, appraisal delays

housingwire housingwire | 1 year ago

Appraisers cite AMCs and incomplete MLS information as major sources of delays, while agents cite...appraisers as source of delays. The post Appraisers voice opinions on AMCs, appraisal delays appeared first on HousingWire.

Appraisers Can Do These Property Data Reports for Appraisal Waivers

appraisersblogs appraisersblogs | 1 year ago

Appraisers, on Tuesday 5/24/22, an AMC sent a message to their appraiser panel appraisers asking them if they’d like to ‘help their lender clients’ by doing Property Data Reports (PDR). Let’s decipher what this is all about. Freddie Mac has decided, that as of Sunday, July 17, 2022, they must have a PDR (Property Data Report) completed “by someone” in order for the loan applicant to qualify for an appraisal waiver in conjunction with a mortgage loan. In other words, actual qualified...

Dystopian Future for Occupational Licensees; Appraisers Take Heed

appraisersblogs appraisersblogs | 2 years ago

Her plight is an attack on occupational licensees everywhere. The nation’s long-suffering real estate appraisers, under attack by Congress in an election year, should pay close attention to what has happened in Nashville… Nurse’s Plight Signals Dystopian Future for Occupational Licensees; Appraisers Take Heed To err is human, but not if you’re a licensed nurse in the Regulatory Republic of Tennessee, where “dog eat dog” has become the state’s unofficial motto. In a first of its kin...

Do I Need A Probate Appraisal? • Birmingham Appraisal Blog

birminghamappraisalblog birminghamappraisalb... | 1 year ago

You may have heard the term before but may still be asking yourself “what is probate and what is a probate appraisal?” Probate is the legal process a will must go through to prove its validity before anything can be distributed to the named beneficiaries. If this does not happen then the wishes of the person leaving the will and the legal requirements for the estate may not be met. A probate appraisal is typically required by the court and is used to help settle the estate. The appraisal he...

Don Machholz Passing - Appraisers Blogs

Don Machholz Passing - Appraisers Blogs

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Don Machholz Passing - Appraisers Blogs

Don Machholz Passing - Appraisers Blogs