Appraisals and Valuations

Real estate appraisals can be tough for both homebuyers and sellers. If the appraisal comes in lower than the agreed-upon purchase price of the property, it can cause big issues for both parties. In addition, real estate appraisals have also been recent obstacles for mortgage lenders and originators due to timing issues and delays.

Mortgage brokers in particular have recently dealt with appraisal time delays due to wholesale lender partnerships that require appraisals to be done by third party appraisal management companies (AMCs). In turn, brokers have been frustrated with AMCs and appraisers over the service and communication issues — as well as the associated fees.

Home appraisals have traditionally taken from a few days to a week to complete and issue a report, depending on the appraiser’s schedule and the complexity of the property. While the housing market has slowed significantly in recent months due to an uptick in mortgage rates, high home prices and a lack of inventory, brokers complained at the height of the recent red-hot housing market that appraisals were taking a number of weeks to complete – which forced clients to miss closing dates. 

The housing market is unlike anything we’ve seen in years past. Whether these types of real estate appraisal issues and delays will continue now that home sales have slowed to a crawl in most markets across the nation remains to be seen. 

Top Stories

Appraisal and Valuations News

Financial services firm Consolidated Analytics acquires Real Info 

Jan 23, 2024By Connie Kim

Financial services firm Consolidated Analytics expands its valuation solutions with its latest acquisition.

• FHFA analysis finds racial disparity in appraisers’ use of time adjustments 

  Jan 17, 2024By Flávia Furlan Nunes

• HUD: Housing has a role to play in combating the opioid epidemic 

  Dec 08, 2023By Chris Clow

• Clear Capital’s Kenon Chen on appraisal modernization 

  Nov 30, 2023By Sarah Wheeler

• Ascent Software Group acquires property data collection platform Value Acceptance 

  Nov 28, 2023By Connie Kim

• Class Valuation’s CIO on solving the appraisal conundrum 

  Nov 22, 2023By Sarah Wheeler

• Class Valuation acquires AMC Valuation Connect 

  Nov 15, 2023By Chris Clow

• CoreLogic announces new augmented reality appraisal tool 

  Nov 09, 2023By Chris Clow

• SingleSource’s new app to support to Fannie Mae’s Value Acceptance + Property Data program 

  Nov 08, 2023By Sarah Marx

• Property taxes have been rising. Here’s what it means for housing 

  Nov 07, 2023By Victor Whitman

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