- A Discussion: The Relationship Between Unemployment and Homeownership
- AppraisalPort Weekly Poll Analysis: Property Data
- Appraisal Institute Northern CA Chapter Annual Spring Conference
- VIDEO: FNC’s Bill Rayburn and Bob Dorsey discuss how a Cyprus bailout would affect the United States
- AppraisalPort Poll Analysis – Source of Work
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Category Archives: Valuation
Most people loathe change. Appraisers are no different.
The upcoming GSE Uniform Mortgage Data Program (UMDP) is the latest in a string of rules, policies and guidelines to better regulate and analyze risk in the world of real estate lending with primary emphasis on consumer lending (1-4 unit residential properties).
In the past, the Home Valuation Code of Conduct, Dodd-Frank, Interagency Appraisal and Evaluation Guidelines and now the… Continue reading
The FNC Residential Price Index (RPI) – the industry’s first hedonic price index built on a comprehensive database combining public records and real-time appraisals – indicates that home prices continue to weaken in 2011, reflecting weak demand and significant downward pressure from the rising share of distressed sales. Based on the latest data on non-distressed home sales (existing and new homes), the FNC National Residential Price Index shows that… Continue reading
Despite recent upbeat data on new and existing home sales, U.S. home prices continued to decline in December due in part to increased sales of foreclosed properties, according to the FNC Residential Price Index (RPI).
Driven in part by rising sales of distressed properties and higher foreclosure-sales discounts, home prices declined for the seventh straight month in December and suffered their largest one-month drop during… Continue reading
Although appraisers and underwriters have different roles in mortgage lending, their responsibilities are interrelated. Common goals focus on making certain that appraisal reports are well documented and the valuations are supported. Reviewers, quality control personnel, real estate brokers and agents also share these goals.
This past summer I took a continuing education seminar through the Appraisal Institute entitled, “Whatever Happened to Quality Assurance in Residential Appraisals: Avoiding Risky Appraisals and… Continue reading
A study released by mortgage technology company FNC, Inc. indicates the importance of an accurate appraisal in representing the true value of residential property—something often misrepresented in a privately negotiated sales price.
“When fundamental market inefficiencies – high transaction costs, low information transparency and low liquidity, combined with substantial asset heterogeneity – commonly underlie real estate transactions, it’s easy to understand why privately-negotiated prices can often misrepresent a property’s true… Continue reading
Nearly 40% of Realtors surveyed by the National Association of Realtors blame low appraisals for cancellations or delays of pending sales. But a new FNC research report, supported by real-time appraisal data, shows that more than 60% of these appraisals exceeded pre-closing contract prices. On average, appraisal value was 1.7% higher than contract price.
This information seems to confirm that residential real estate appraisers are taking great care to study… Continue reading
Timothy Geithner is not sending some of the bank bailout money at his disposal to homeowners who need help paying legal fees. Many of these homeowners are working with their banks to modify loans but their legal fees have piled up making it impossible for them to catch up with their mortgage payments. According to a General Accounting Office study, even homeowners who are being wrongfully foreclosed due to a… Continue reading
Did you get sick of your Facebook friends telling you every time they found a virtual calf in a cabbage patch or baked too many plum pies for their Farmville party? Brace yourself. Farmville’s creator has launched a game for every real estate wonk who daydreams of saving Detroit or Las Vegas or developing shadow housing inventory.
In Cityville, each player is mayor of a make-believe city that he… Continue reading
I’ve heard recently that the lack of trust within the financial and mortgage industry is the largest hindrance to a recovery.
This sentiment has reminded me of a quote, ”Blame and Trust cannot co-exist.”
Headlines from our industry seem to focus 20% on the root problem, and 80% on WHO’S RESPONSIBLE. The real damage is done when energies are applied proportionally.
For example: how long do you think it would take… Continue reading
Move over old-school price index! There’s a new kid in town.
Mortgage technology company FNC® introduces the next generation of residential price-trend reporting, featuring more accurate, more specific data for properties nationwide — the FNC Residential Price Index (RPI).