1) The document discusses various residential real estate statistical models like Case-Shiller, OFHEO, and Zillow that use different data and algorithms to track housing prices.
2) It provides an overview of how the housing vacancy and credit crisis (HVCC) has negatively impacted the housing market by increasing processing times, appraisal fees, and costs to consumers.
3) The absorption rate is introduced as a metric to measure inventory levels and determine if a market is in sellers or buyers territory, with a balanced market around 6 months of inventory.
The Collaborative Innovation & Initiative Team (C2-ITeam) proposes leveraging cross-functional and cross-business expertise to deliver innovative competitive advantages through commercialized transformational strategies, streamlined crisis management, enhanced product assessments, and aligned business partnerships. The proposal aims to provide efficient, agile solutions by combining insights from R&D, engineering, quality, regulatory, supply chain, and market functions.
A step-by-step appraisal guide to the standard 1004 Uniform Residential Appraisal Report (URAR). Great for borrowers wanting to understand their appraisal better and for lenders looking for something more specific than a basic appraisal checklist. Learn more about the home appraisal and what to watch for in your appraisal reports!
This document discusses communicating with appraisers. It explains that you can talk to an appraiser about a property but cannot influence or change the appraised value. It also outlines the process to become an appraiser and some of the key things appraisers look for, such as location, style, and renovations that appeal to a broad audience. The document provides tips for working with appraisers if the initial value comes in low, such as submitting additional comparable sales data to support reconsidering the value.
LCAR Unit 20 - Appraising Real Estate - 14th Edition RevisedTom Blefko
This document provides an overview of real estate appraising and valuation. It defines key terms like appraisal, appraiser, highest and best use, and market value. It describes the three approaches to value - sales comparison, cost, and income approaches. Under each approach, it explains the basic steps and calculations involved. It also covers topics like measuring square footage, types of properties, regulation of appraisers, and principles of value.
LCAR Unit 20 - Appraising Real Estate - 14th Edition RevisedTom Blefko
The document discusses appraising real estate. It provides information on appraisals, appraisers, regulations for appraisals, and the appraisal process. The key points are:
- An appraisal is an estimate of a property's market value based on approved methods and supportable evidence. Appraisals are done by independent professionals in an impartial manner.
- Appraisals used for federally related transactions must comply with regulations. Appraisers follow USPAP standards and are certified at different levels depending on the types of properties they appraise.
- The appraisal process involves gathering data, determining highest and best use, and using the sales comparison, cost, and income approaches to estimate a
LCAR Unit 20 - Appraising Real Estate - 14th Edition RevisedTom Blefko
The document discusses appraising real estate. It provides information on appraisals, appraisers, and the appraisal process. The three main approaches to determining market value are discussed in detail: 1) the sales comparison approach, 2) the cost approach, and 3) the income approach. For each approach, the steps involved are outlined. Additional topics covered include regulations for appraisers, types of appraisal reports, principles of property valuation, measuring square footage in homes, and depreciation.
This document provides information on different methods for analyzing property value, including CMAs, appraisals, and BPOs. It discusses the key differences between these methods and how each is used. The document also outlines important factors to consider when compiling comparables, such as location, amenities, and necessary adjustments. Overall, it provides guidance on properly conducting a market evaluation to determine a property's value.
1) The document discusses various residential real estate statistical models like Case-Shiller, OFHEO, and Zillow that use different data and algorithms to track housing prices.
2) It provides an overview of how the housing vacancy and credit crisis (HVCC) has negatively impacted the housing market by increasing processing times, appraisal fees, and costs to consumers.
3) The absorption rate is introduced as a metric to measure inventory levels and determine if a market is in sellers or buyers territory, with a balanced market around 6 months of inventory.
The Collaborative Innovation & Initiative Team (C2-ITeam) proposes leveraging cross-functional and cross-business expertise to deliver innovative competitive advantages through commercialized transformational strategies, streamlined crisis management, enhanced product assessments, and aligned business partnerships. The proposal aims to provide efficient, agile solutions by combining insights from R&D, engineering, quality, regulatory, supply chain, and market functions.
A step-by-step appraisal guide to the standard 1004 Uniform Residential Appraisal Report (URAR). Great for borrowers wanting to understand their appraisal better and for lenders looking for something more specific than a basic appraisal checklist. Learn more about the home appraisal and what to watch for in your appraisal reports!
This document discusses communicating with appraisers. It explains that you can talk to an appraiser about a property but cannot influence or change the appraised value. It also outlines the process to become an appraiser and some of the key things appraisers look for, such as location, style, and renovations that appeal to a broad audience. The document provides tips for working with appraisers if the initial value comes in low, such as submitting additional comparable sales data to support reconsidering the value.
LCAR Unit 20 - Appraising Real Estate - 14th Edition RevisedTom Blefko
This document provides an overview of real estate appraising and valuation. It defines key terms like appraisal, appraiser, highest and best use, and market value. It describes the three approaches to value - sales comparison, cost, and income approaches. Under each approach, it explains the basic steps and calculations involved. It also covers topics like measuring square footage, types of properties, regulation of appraisers, and principles of value.
LCAR Unit 20 - Appraising Real Estate - 14th Edition RevisedTom Blefko
The document discusses appraising real estate. It provides information on appraisals, appraisers, regulations for appraisals, and the appraisal process. The key points are:
- An appraisal is an estimate of a property's market value based on approved methods and supportable evidence. Appraisals are done by independent professionals in an impartial manner.
- Appraisals used for federally related transactions must comply with regulations. Appraisers follow USPAP standards and are certified at different levels depending on the types of properties they appraise.
- The appraisal process involves gathering data, determining highest and best use, and using the sales comparison, cost, and income approaches to estimate a
LCAR Unit 20 - Appraising Real Estate - 14th Edition RevisedTom Blefko
The document discusses appraising real estate. It provides information on appraisals, appraisers, and the appraisal process. The three main approaches to determining market value are discussed in detail: 1) the sales comparison approach, 2) the cost approach, and 3) the income approach. For each approach, the steps involved are outlined. Additional topics covered include regulations for appraisers, types of appraisal reports, principles of property valuation, measuring square footage in homes, and depreciation.
This document provides information on different methods for analyzing property value, including CMAs, appraisals, and BPOs. It discusses the key differences between these methods and how each is used. The document also outlines important factors to consider when compiling comparables, such as location, amenities, and necessary adjustments. Overall, it provides guidance on properly conducting a market evaluation to determine a property's value.
The document provides an overview of a presentation on property management. It discusses various topics including the pros and cons of being a landlord, types of properties and landlords, hiring a professional management team, leasing properties, managing rentals, tools for landlords, and taxation related to rental properties. The classroom rules and agenda are also outlined. The presentation aims to educate attendees on effectively managing rental properties and being landlords.
This credit-union specific webinar series covers key subjects designed to help you better serve your members and add value to your credit union. From underwriting and analyzing credit to appraisals and mortgage insurance, you’ll get a comprehensive introduction to the latest strategies and regulatory insights. Learn more at: www.nafcu.org/genworth
This document discusses the pros and cons of buying duplex investments. It begins by introducing Rick Stapleton from BuilderBuilder and outlines their 20 years of industry experience focusing on investor stock. Various duplex investment strategies, financing options, and potential outcomes are presented. Specific duplex opportunities currently available through BuilderBuilder in Queensland and New South Wales are provided as examples. Key services offered through a Real Estate Investar concierge program that partners with BuilderBuilder are also summarized.
In part 2 of the California Landlord Basics webinar series, attorneys Ashlee D. Adkins and Henry Chuang, of the Law Offices of Peter N. Brewer, present essential information about pest infestations, mold remediation, and lease termination.
OUTLINE
LEASE TERMINATION
Expiration & Renewal
Voluntary Breaks & Involuntary Breaches
Possession
Holdover Tenancy
Abandonment
3-Day Notices
PESTS & MOLD
Mold (Toxic vs. Non-Toxic)
Landlord & Tenant Responsibilities
Designations
Water Damage & Floods
Bed Bugs, Termites, & Rodents
This document provides an overview of FHA appraisal requirements and guidance as outlined in FHA's Single Family Housing Policy Handbook 4000.1 and the FHA Appraisal Report and Data Delivery Guide. It discusses topics such as appraiser competency and independence, legal property requirements, neighborhood and market analysis, site analysis including hazards and utilities, and reporting atypical property features such as accessory units. The presentation aims to help appraisers properly understand and apply FHA appraisal policies and standards.
- Jeannette Neerpat is a licensed realtor in Florida who is committed to excellent customer service and respecting her clients' time.
- She has an extensive marketing plan to promote listed properties through online listings, open houses, signs, and printed materials.
- Her process for listing a property involves developing a comparative market analysis, staging and photography of the home, and careful management of offers, inspections, the appraisal, and closing.
The document outlines guidelines for an expanded ratio program for fixed rate and ARM loans. Key requirements include:
- Minimum FICO scores of 720, 700, and 720 for owner occupied, second homes, and investment properties respectively.
- Maximum debt-to-income ratios of 50% and ARM loans must qualify at the note or fully indexed rate, whichever is higher.
- Minimum reserves of 6-12 months PITIA depending on loan amount. Additional reserves are required for investment properties.
- Property types eligible include single family, condos, PUDs. Ineligible include mobile homes, commercial properties, and properties over 5 acres.
The document provides an overview of the sales comparison approach for real estate appraisal. It discusses the key steps of the sales comparison analysis procedure, including collecting market data on comparable properties, selecting comparables, verifying sales data, applying adjustments to comparables to account for differences with the subject property, and reconciling the adjusted sales prices to determine a value estimate for the subject property.
This document provides an overview of the residential property tax appeal process. It discusses how property assessments are set during a revaluation, including site inspections, data collection, neighborhood delineation, and use of comparable sales. It explains how land and improvement values are calculated to determine a property's total assessment. The document also discusses factors to consider in deciding whether to file an appeal, such as if the assessed value is significantly higher than the market value. Finally, it outlines the appeal process and timeline, as well as other considerations like standing, payment of taxes, and chapter 91 requests.
All the information you need to help you buy or sell a rent roll from due diligence to methods of appraising, contract clauses to the all important post transition.
DALLAS CENTRAL APPRAISAL DISTRICT ( DCAD ) value processpoconnor
The Dallas Central Appraisal District values properties using a mass appraisal process. For residential properties, neighborhoods are established and properties are stratified into building classes to develop valuation models. Valuations are reviewed annually through sales ratio analysis which may trigger reappraisals. For commercial and business personal properties, market areas are established and the income, cost and sales approaches to value are used. Throughout the year, new construction is added through inspection of building permits.
Malcom Riley has over 25 years of experience in property management. He has held leadership roles with the Real Estate Institute of Queensland (REIQ), including serving as the Committee Chairman from 2003-2005. He has received several awards from the REIQ, including Property Manager of the Year for Queensland in 2002 and Cairns in 1999. In this presentation, Riley provides advice on growing a property management business, including auditing current systems, grading clients and properties, identifying growth opportunities, and considering buying an existing rent roll. He emphasizes the importance of tracking time and costs, having the right team and systems in place, and focusing on property management to maximize profits.
The document discusses the FHA Streamlined 203(k) loan program, which allows borrowers to purchase or refinance a home and include costs for repairs and renovations up to $35,000 in the loan. The program offers an affordable financing solution to update properties in need of repairs. Eligible improvements include items like roofing, plumbing, flooring, and kitchen or bathroom renovations. The process involves getting estimates, closing the loan, completing repairs within 3 months, and a final inspection. Commonly asked questions about costs, timelines, and eligible properties are also addressed.
This 10 step document outlines the process for buying a house, including: figuring out your budget, getting pre-approved by a lender, identifying your housing needs and wants, hiring a realtor, touring homes, making an offer, home inspections, entering escrow, closing, and protecting your investment with insurance and maintenance. The steps include assessing finances, selecting a lender, defining must-have features, working with an experienced realtor, thoroughly inspecting prospective homes, making an offer contingent on inspections, and completing all legal processes at closing.
When a homebuyer wants to purchase or refinance a house in need of repair or modernization, the homebuyer usually has to obtain financing first to purchase the dwelling; additional financing to do the rehabilitation construction; and a permanent mortgage when the work is completed to pay off the interim loans with a permanent mortgage. Often the interim financing (the acquisition and construction loans) involves relatively high interest rates and short amortization periods. The Section 203(k) program was designed to address this situation. The borrower can get just one mortgage loan, at a long-term fixed rate, to finance both the acquisition and the rehabilitation of the property. To provide funds for the rehabilitation, the mortgage amount is based on the projected value of the property with the work completed, taking into account the cost of the work.
This document provides a guide to the process of buying a home in England, Wales, and Northern Ireland. It outlines the key steps, including choosing a property, agreeing on a sale price, financing the purchase with a mortgage, arranging a survey, hiring a solicitor, exchanging contracts, completion of the purchase, and moving costs. It also discusses different types of properties and ownership structures like freehold, leasehold, and commonhold. The guide aims to give buyers expert advice to navigate the home buying process.
The document discusses commercial property valuation methods. It defines key terms like market value, price, and worth. It also outlines the five main methods used in commercial property valuation: the investment method, residual method, comparison method, contractors method, and profits method. Each method is described in terms of its methodology, applications, and limitations. The role of valuers is to estimate market price, while calculations of worth are used to analyze pricing and identify potential over/undervaluation.
This document provides an overview of key concepts for understanding tenant demand for commercial real estate, including:
1) It defines demand determinants as the factors that give rise to tenant demand, including price, substitutes, income, tastes/preferences, and expectations. For CRE, the major determinants are amenities of location, efficiencies of use, economics of occupancy, and ego amenities.
2) It explains how landlords can differentiate their properties and premises based on these determinants, such as through location, physical attributes, pricing, and amenities, in order to attract tenants and command premium rents.
3) It provides a hypothetical example comparing three office buildings to demonstrate how a tenant would evaluate properties based on how they
Among other tips, you will lean how the Vancouver real estate market cycle works, why it is important to have a good agent and team, what is currently happening in the Vancouver real estate market (including latest statistics), the elements that need to be present to lead to a successful purchase, the importance of a well prepared offer, and how to make your offer stand above others.
The document discusses various methods for estimating the value of properties, including lands, buildings, and lands with buildings. It describes comparative, abstractive, and belting methods for valuing open lands, and rental, direct comparisons, valuation by reference to profits, cost-based, and residual methods for valuing lands with buildings. For each method, it outlines the general approach and key factors considered in the valuation.
BEST FARMLAND FOR SALE | FARM PLOTS NEAR BANGALORE | KANAKAPURA | CHICKKABALP...knox groups real estate
welcome to knox groups real estate company in Bangalore. best farm land for sale near Bangalore and madhugiri . Managed farmland near Kanakapura and Chickkabalapur get know more details about the projects .Knox groups is a leading real estate company dedicated to helping individuals and businesses navigate the dynamic real estate market. With our extensive knowledge, experience, and commitment to excellence, we deliver exceptional results for our clients. Discover the perfect foundation for your agricultural aspirations with KNOX Groups' prime farm lands. These aren't just plots; they're the fertile grounds where vibrant crops flourish, livestock thrives, and unique agricultural ventures come to life. At KNOX, we go beyond selling land we curate sustainable ecosystems, ensuring that your journey toward agricultural success is seamless and prosperous.
The document provides an overview of a presentation on property management. It discusses various topics including the pros and cons of being a landlord, types of properties and landlords, hiring a professional management team, leasing properties, managing rentals, tools for landlords, and taxation related to rental properties. The classroom rules and agenda are also outlined. The presentation aims to educate attendees on effectively managing rental properties and being landlords.
This credit-union specific webinar series covers key subjects designed to help you better serve your members and add value to your credit union. From underwriting and analyzing credit to appraisals and mortgage insurance, you’ll get a comprehensive introduction to the latest strategies and regulatory insights. Learn more at: www.nafcu.org/genworth
This document discusses the pros and cons of buying duplex investments. It begins by introducing Rick Stapleton from BuilderBuilder and outlines their 20 years of industry experience focusing on investor stock. Various duplex investment strategies, financing options, and potential outcomes are presented. Specific duplex opportunities currently available through BuilderBuilder in Queensland and New South Wales are provided as examples. Key services offered through a Real Estate Investar concierge program that partners with BuilderBuilder are also summarized.
In part 2 of the California Landlord Basics webinar series, attorneys Ashlee D. Adkins and Henry Chuang, of the Law Offices of Peter N. Brewer, present essential information about pest infestations, mold remediation, and lease termination.
OUTLINE
LEASE TERMINATION
Expiration & Renewal
Voluntary Breaks & Involuntary Breaches
Possession
Holdover Tenancy
Abandonment
3-Day Notices
PESTS & MOLD
Mold (Toxic vs. Non-Toxic)
Landlord & Tenant Responsibilities
Designations
Water Damage & Floods
Bed Bugs, Termites, & Rodents
This document provides an overview of FHA appraisal requirements and guidance as outlined in FHA's Single Family Housing Policy Handbook 4000.1 and the FHA Appraisal Report and Data Delivery Guide. It discusses topics such as appraiser competency and independence, legal property requirements, neighborhood and market analysis, site analysis including hazards and utilities, and reporting atypical property features such as accessory units. The presentation aims to help appraisers properly understand and apply FHA appraisal policies and standards.
- Jeannette Neerpat is a licensed realtor in Florida who is committed to excellent customer service and respecting her clients' time.
- She has an extensive marketing plan to promote listed properties through online listings, open houses, signs, and printed materials.
- Her process for listing a property involves developing a comparative market analysis, staging and photography of the home, and careful management of offers, inspections, the appraisal, and closing.
The document outlines guidelines for an expanded ratio program for fixed rate and ARM loans. Key requirements include:
- Minimum FICO scores of 720, 700, and 720 for owner occupied, second homes, and investment properties respectively.
- Maximum debt-to-income ratios of 50% and ARM loans must qualify at the note or fully indexed rate, whichever is higher.
- Minimum reserves of 6-12 months PITIA depending on loan amount. Additional reserves are required for investment properties.
- Property types eligible include single family, condos, PUDs. Ineligible include mobile homes, commercial properties, and properties over 5 acres.
The document provides an overview of the sales comparison approach for real estate appraisal. It discusses the key steps of the sales comparison analysis procedure, including collecting market data on comparable properties, selecting comparables, verifying sales data, applying adjustments to comparables to account for differences with the subject property, and reconciling the adjusted sales prices to determine a value estimate for the subject property.
This document provides an overview of the residential property tax appeal process. It discusses how property assessments are set during a revaluation, including site inspections, data collection, neighborhood delineation, and use of comparable sales. It explains how land and improvement values are calculated to determine a property's total assessment. The document also discusses factors to consider in deciding whether to file an appeal, such as if the assessed value is significantly higher than the market value. Finally, it outlines the appeal process and timeline, as well as other considerations like standing, payment of taxes, and chapter 91 requests.
All the information you need to help you buy or sell a rent roll from due diligence to methods of appraising, contract clauses to the all important post transition.
DALLAS CENTRAL APPRAISAL DISTRICT ( DCAD ) value processpoconnor
The Dallas Central Appraisal District values properties using a mass appraisal process. For residential properties, neighborhoods are established and properties are stratified into building classes to develop valuation models. Valuations are reviewed annually through sales ratio analysis which may trigger reappraisals. For commercial and business personal properties, market areas are established and the income, cost and sales approaches to value are used. Throughout the year, new construction is added through inspection of building permits.
Malcom Riley has over 25 years of experience in property management. He has held leadership roles with the Real Estate Institute of Queensland (REIQ), including serving as the Committee Chairman from 2003-2005. He has received several awards from the REIQ, including Property Manager of the Year for Queensland in 2002 and Cairns in 1999. In this presentation, Riley provides advice on growing a property management business, including auditing current systems, grading clients and properties, identifying growth opportunities, and considering buying an existing rent roll. He emphasizes the importance of tracking time and costs, having the right team and systems in place, and focusing on property management to maximize profits.
The document discusses the FHA Streamlined 203(k) loan program, which allows borrowers to purchase or refinance a home and include costs for repairs and renovations up to $35,000 in the loan. The program offers an affordable financing solution to update properties in need of repairs. Eligible improvements include items like roofing, plumbing, flooring, and kitchen or bathroom renovations. The process involves getting estimates, closing the loan, completing repairs within 3 months, and a final inspection. Commonly asked questions about costs, timelines, and eligible properties are also addressed.
This 10 step document outlines the process for buying a house, including: figuring out your budget, getting pre-approved by a lender, identifying your housing needs and wants, hiring a realtor, touring homes, making an offer, home inspections, entering escrow, closing, and protecting your investment with insurance and maintenance. The steps include assessing finances, selecting a lender, defining must-have features, working with an experienced realtor, thoroughly inspecting prospective homes, making an offer contingent on inspections, and completing all legal processes at closing.
When a homebuyer wants to purchase or refinance a house in need of repair or modernization, the homebuyer usually has to obtain financing first to purchase the dwelling; additional financing to do the rehabilitation construction; and a permanent mortgage when the work is completed to pay off the interim loans with a permanent mortgage. Often the interim financing (the acquisition and construction loans) involves relatively high interest rates and short amortization periods. The Section 203(k) program was designed to address this situation. The borrower can get just one mortgage loan, at a long-term fixed rate, to finance both the acquisition and the rehabilitation of the property. To provide funds for the rehabilitation, the mortgage amount is based on the projected value of the property with the work completed, taking into account the cost of the work.
This document provides a guide to the process of buying a home in England, Wales, and Northern Ireland. It outlines the key steps, including choosing a property, agreeing on a sale price, financing the purchase with a mortgage, arranging a survey, hiring a solicitor, exchanging contracts, completion of the purchase, and moving costs. It also discusses different types of properties and ownership structures like freehold, leasehold, and commonhold. The guide aims to give buyers expert advice to navigate the home buying process.
The document discusses commercial property valuation methods. It defines key terms like market value, price, and worth. It also outlines the five main methods used in commercial property valuation: the investment method, residual method, comparison method, contractors method, and profits method. Each method is described in terms of its methodology, applications, and limitations. The role of valuers is to estimate market price, while calculations of worth are used to analyze pricing and identify potential over/undervaluation.
This document provides an overview of key concepts for understanding tenant demand for commercial real estate, including:
1) It defines demand determinants as the factors that give rise to tenant demand, including price, substitutes, income, tastes/preferences, and expectations. For CRE, the major determinants are amenities of location, efficiencies of use, economics of occupancy, and ego amenities.
2) It explains how landlords can differentiate their properties and premises based on these determinants, such as through location, physical attributes, pricing, and amenities, in order to attract tenants and command premium rents.
3) It provides a hypothetical example comparing three office buildings to demonstrate how a tenant would evaluate properties based on how they
Among other tips, you will lean how the Vancouver real estate market cycle works, why it is important to have a good agent and team, what is currently happening in the Vancouver real estate market (including latest statistics), the elements that need to be present to lead to a successful purchase, the importance of a well prepared offer, and how to make your offer stand above others.
The document discusses various methods for estimating the value of properties, including lands, buildings, and lands with buildings. It describes comparative, abstractive, and belting methods for valuing open lands, and rental, direct comparisons, valuation by reference to profits, cost-based, and residual methods for valuing lands with buildings. For each method, it outlines the general approach and key factors considered in the valuation.
Similar to CoesterVMS Inside the Mind of the Appraiser 101 (20)
BEST FARMLAND FOR SALE | FARM PLOTS NEAR BANGALORE | KANAKAPURA | CHICKKABALP...knox groups real estate
welcome to knox groups real estate company in Bangalore. best farm land for sale near Bangalore and madhugiri . Managed farmland near Kanakapura and Chickkabalapur get know more details about the projects .Knox groups is a leading real estate company dedicated to helping individuals and businesses navigate the dynamic real estate market. With our extensive knowledge, experience, and commitment to excellence, we deliver exceptional results for our clients. Discover the perfect foundation for your agricultural aspirations with KNOX Groups' prime farm lands. These aren't just plots; they're the fertile grounds where vibrant crops flourish, livestock thrives, and unique agricultural ventures come to life. At KNOX, we go beyond selling land we curate sustainable ecosystems, ensuring that your journey toward agricultural success is seamless and prosperous.
Kumar Codename Fireworks at Hadapsar Link Road, Pune - PDF.pdfmonikasharma630
Codename Fireworks developed by Kumar Properties is a new residential development that offers 2/3 BHK premium residences with easy access to proposed ring road, airport, metro station.
For More Details:
Visit Here: kumar.developerprojects.com
Stark Builders: Where Quality Meets Craftsmanship!shuilykhatunnil
At Stark Builders our vision is to redefine the renovation experience by combining both stunning design and high quality construction skills. We believe that by delivering both these key aspects together we are able to achieve incredible results for our clients and ensure every project reflects their vision and enhances their lifestyle.
Although we are not all related by blood we have created a team of highly professional and hardworking individuals who share the common goal of delivering beautiful and functional renovated spaces. Our tight nit team are able to work together in a way where we pour our passion into each and every project as we have a love for what we do. Building is our life.
Living in an UBER World - June '24 Sales MeetingTom Blefko
June 2024 Lancaster County Sales Meeting for Berkshire Hathaway HomeServices Homesale Realty covering the following topics: 1. VA Suspends Buyer Agent Payment Plan (article), 2. Frequently Used Terms in title, 3. Zillow Showcase Overview, 4. QuickBuy commission promotion, 5. Documenting Cooperative Compensation, 6. NAR's Code of Ethics - Mass Media Solicitations, 7. Is it really cheaper to rent? 8. Do's and Don't's when Terminating the Agreement of Sale, 9. Living in an UBER World
AVRUPA KONUTLARI ESENTEPE - ENGLISH - Listing TurkeyListing Turkey
Looking for a new home in Istanbul? Look no further than Avrupa Konutlari Esentepe! Our beautifully designed homes provide the perfect blend of luxury and comfort, making them the perfect choice for anyone looking for a high-quality home in the city.
With a wide range of apartment types available, from 1+1 to 4+1, we have something to suit every need and budget. Each apartment is designed with attention to detail and features spacious and bright living areas, making them the perfect place to relax and unwind after a long day.
One of the things that sets Avrupa Konutlari Esentepe apart from other developments is our focus on creating a community that is both comfortable and convenient. Our homes are surrounded by lush green spaces, perfect for enjoying a peaceful stroll or having a picnic with friends and family. Additionally, our complex includes a variety of social and recreational amenities, such as swimming pools, sports fields, and playgrounds, making it easy for residents to stay active and socialize with their neighbors.
https://listingturkey.com/property/avrupa-konutlari-esentepe/
Anilesh Ahuja Pioneering a Paradigm Shift in Real Estate Success.pptxneilahuja668
Anilesh Ahuja journey is a testament to the power of vision, resilience, and unwavering determination. As a visionary leader, he continues to inspire and empower others to dream big and challenge the status quo. His legacy extends far beyond the realm of real estate, leaving an indelible mark on the industry and the world at large.
The SVN® organization shares a portion of their new weekly listings via their SVN Live® Weekly Property Broadcast. Visit https://svn.com/svn-live/ if you would like to attend our weekly call, which we open up to the brokerage community.
2. What we will cover
•What Appraisers Look for in a Home
•How Lender’s Guidelines Effect Appraisals
•What They are required to report back
•How the Inspection Process takes place
•FHA Guidelines and Tips
•How to communicate with an appraiser
•What to do .
•What not to do.
•What to never, ever do.
•Valuing Green Improvements
•Q&A
5. To Become an Appraiser
•4 Year College Degree from Accredited University
•300 Hours of Tested Education Classes (an entire
month of 9 hours a day)
•3,000 “Logged Field Experience Hours”
•Pass a Criminal Background Check
•Become an apprentice for 2 years
•Take a 200 question test and score an 80% or
above
•Take an FHA test
….then you become an appraiser that doesn’t
know anything…
6. Communicating with the Appraisers
WHAT YOU CAN DO….
• You can talk with an appraiser
• You can have normal conversations about the property
• You can question the work completed as well as
provide information.
WHAT YOU CAN’T DO…..
• What you can not do is try to influence or change the value
• You can not select the specific appraiser you want for a
particular assignment.
• You can not threaten them or threaten to withhold
future work if they don’t hit a value.
7. What Appraisers Really Look for in a Home
• Appraisers look for similar "use" that would
appeal to a broader audience.
• The specifics aren't as important as the location the
market, location and other unchangeable factors.
Anything that can be changed with relative easy is not
as much of a factor.
• The biggest single factor is the neighborhood, style of
home, and the overall renovations.
19. The forms
The Creation of the appraisal
form was to try and standardize
the way things are reported
back to the lender in an easily
understandable format.
21. URAR History
• Revised March 2005
• Grew from 2 pages to 6 pages
• Incorporated former addendum
1004B
• Assumptions and Limiting Conditions
– 10 to 6
• Appraiser Certifications - 9 to 25
22. URAR History
To report an appraisal of:
• One-unit property
• One-unit property
•with an accessory unit
• Unit in a PUD
• Requires interior inspection
• Requires 1004MC Addendum
23. What’s Required In the Report?
• Exterior building sketch with
dimensions
• Interior dimensions for condo or co-op
• Floor plan if atypical or functionally
obsolete
• Gross Living Area (GLA) calculations
• Street map – subject and comps
24. What’s Required In the Report?
• Photos
– Subject property front, rear and street
– Interior photos of certain areas (details
below)
• Operating Income Statement
– Form 216 for investment properties
• Single-Family Comparable Rent
Schedule
– Form 1007 Rent Schedule
– Form 216 when applicable
36. How Accurate?
• It’s not 100% accurate and not designed
to be 100% accurate, it’s designed to be
a reflection of the general layout of the
property.
39. Inspection and appraisal process
So what's the purpose of
the form?
To gather all the
information needed for
the lender in an organized
format, this is not the
appraisal.
40. Reports
The appraisal is the value
and certification by the
appraiser, anything else
is a lender requirement.
42. FNMA Announcement 8-30
Provide Sales Contract to the Appraiser
• The lender must provide the appraiser will all financing data and
sales concessions for the subject
• The lender must provide the appraiser with the sale contract and
all addenda
• If the sales contract is amended, the amendments must be
provided to the appraiser
43. FNMA Announcement 8-30
Selection of Comparable Sales
• Appraiser to provide an explanation as to why specific
comparables were used in the appraisal report when…
• 4 Comparables total
• 2 Comparables within 90 Days
• 2 Listings or Contracts
• Urban – 1 mile
• Suburban – 2 miles
• Rural – 10 miles
44. FNMA Announcement 8-30
Repair Escrow – Existing Construction
• Appraisers reporting the existence of minor conditions or deferred
maintenance items NOT affecting livability, soundness, or structural
integrity of the property may complete the appraisal with an “as is”
status
• Minor conditions or deferred maintenance items to be remedied or
completed after closing may be escrowed by the lender
• Property must be appraised subject to completion of the specific
alterations or repairs when there are incomplete items or
conditions affecting livability, soundness, or structural integrity
45. FNMA Announcement 8-30
Appraising the Entire Site of a Property
Clarification – the appraisal must include the actual
size of the site and not a hypothetical portion of the site
Example: An
appraiser may not
appraise only 5 acres
40 acres
of an unsubdivided
40-acre parcel. The
appraised value must
5 acres
reflect the entire 40-
acre parcel.
46. FNMA Announcement 8-30
Neighborhood Boundaries
• Preferable for the appraiser to provide comparables from the
subject’s neighborhood
• Fannie Mae does allow for the use of comparable sales that are
located in competing neighborhoods
– Best comparables available and the most appropriate for the appraiser’s
analysis
• The appraiser must indicate the comparables are from a competing
neighborhood and address any differences that exist
48. What FHA will lend on….
Eligible Properties
• Detached 1-4 units
• Semi-detached 1-4 units
• Townhouses
• Rowhouses
• Condominiums
• Approved Projects
• Spot Unit Approvals
Ineligible Properties
• Commercial Enterprises
• Boarding Houses
• Hotels/Motels
• Tourist Houses
• Private Clubs
• Bed and Breakfast Establishments
• Fraternity/Sorority Houses
• Condotels
49.
50.
51. Mixed Use Properties
FHA will finance
properties with
minimal
nonresidential use…
52. Mixed Use Properties
•Must be self-sufficient
•Net rental > monthly
payment
•Net rental income is the
appraiser’s estimate for
vacancies OR the vacancy
factor used by the
jurisdictional HOC or
whichever is greater
54. Private Water and Sewer Systems
Appraiser to report if public water and sewer are
available.
Lender is to determine feasibility
Usually connection Is considered feasible if the
cost is less than 3% of appraised value.
If home has been vacant from 30 days or several
months inspection and dye test will be required.
56. Private Roads
Pqivate stqeets and shaqed
driveways
Each pqopeqty must have
vehicular or pedestrian access
Road suqface oveq which
emergency vehicles can pass
The absence of these items
must be noted
57. Accessory Units
Habitable living unit add
to, created within, or
detached from a single-
family dwelling
Accessoqy units may not
be subdivided or
segregated
58.
59.
60. Unacceptable Locations
Below 100 year flood level
Flood Insurance
not available
Unacceptable area near airport
63. Unacceptable Locations
• Appraisers who work
in CBRS areas must
obtain the appropriate
maps from the U.S.
Fish and Wildlife
Service
• Prohibited areas on
the maps are those
inside the red areas
66. What if your value comes in low
• Submit an Appraisal Rebuttal
• Provide supplemental comparables that are
similar to the subject that would meet the
lender requirements for standard appraisal
practice.
• Generally speaking pointing out minor errors
will not get the value changed.
67. It is to…
“Address legitimate concerns with the
appraisal in which there is tangible
evidence the appraisal is flawed and the
property is being misrepresented.”
- Brian C. Coester.
68. Concerns on the appraisal
Could be:
1.Better comparables sales are available that support a different
value that are not in the report.
2.Misrepresentation of the property. “I didn’t know the homeowner
owned the waterfront lot next to the house”
3.Overlooking key features such as acreage, view, updates, features.
4.Lack of appraiser competency apparent in the report.
5.Over conservative appraisal.
6.Lack of attention to detail and multiple errors
69. What Not to do
“This appraisal is horrible, we need an extra 10k to make this work. Call
the appraiser and tell him to change it or never use him again!”
“Appraiser missed a ton of stuff, borrower paid 90k more two years ago
and he know its worth at least that we need to order a new appraisal”
“Need more value to close please adjust”
All of these get us nowhere……..
70. What TO do
“Noticed that the garage adjustment was only 2k and the deals very tight.
Can you see if the appraiser can re-look at the garage adjustment.”
“Borrower indicated the appraiser didn’t give appropriate adjustments
for upgraded kitchen and bathrooms as you can see from the photos its
in great shape, can you have him look again?”
“Local realtor was able to find 3 additional closed sales that support a
20k higher value. Can you send these to the appraiser have them take a
look?
71. Your Appraisal Inspection Package
• Copy of Fully Executed Contract
• List of all renovations and improvements done within 5 years
• Any notable features that are not obvious during the inspection
• Copy of Sketch
• Copy of PlatMap
• Copy of Old Appraisal
• If purchase supply appraiser with comparables the agent used
for listing the property.
Anything that may be helpful for them to spend more time on the
report and not in research.
73. How appraisers are looking at Green
• Very Difficult to Value
• No Clear Structure in place
• The best is the AI ready energy efficient
Appraisal form that adds some data points.
• Biggest issue is lack of Data on comps
• About 2 – 3 years from a real solution.