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Monthly Archives: July 2012
Last month, the Appraisal Institute released “Guide Note 12: Analyzing Market Trends,” a resource designed to give AI members an analytical framework for studying market trends while developing a market value opinion on a property. The Guide Note is particularly concerned with challenges faced by appraisers when market conditions are rapidly changing, as demonstrated by recent boom and bust cycles of the U.S. housing market. In slower markets like today’s… Continue reading
In the September and October 2011 AppraisalPort newsletters, I discussed the first report that was released by the United States Government Accountability Office (GAO) on real estate valuation methods. To refresh your memory, as part of the Dodd-Frank Act, the GAO was asked to study the various valuation methods and the options available for selecting appraisers, as well as the Home Valuation Code of Conduct (HVCC), which established appraiser independence… Continue reading
Spring Housing Scoreboard: While homesellers in Chicago are taking steep price cuts, Bay Area homes are selling quickly at near asking price.
With the arrival of the spring/early summer homebuying season, homes prices nationwide have showed signs of strengthening. The FNC Residential Price Index® (FNC RPI™) – the industry’s first hedonic price index built on a comprehensive database that blends public records with real-time appraisals of property characteristics… Continue reading