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Homeowners’ High Prices Spawn Low Appraisals

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  Quicken Loans reports appraiser opinions of home values fell further below homeowner opinions in March, according to the lender’s national Home Price Perception Index (HPPI). On a national scale, appraiser opinions are 0.40 percent lower than homeowner estimates. Home values also declined in March. The national Home Value Index (HVI) showed home values dipped 0.56 percent according to the ... Read More »

Appraisals Dip Below Homeowner Estimates For First Time in 17 Months

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Appraiser opinions of home values fell below homeowner estimates by 0.13 percent in February for the first time since August 2013 according to Quicken Loans’ Home Price Perception Index (HPPI), which measures the difference between what owners think their homes should be worth and what appraisers decide they actually are worth. Despite the drop in the national HPPI, appraiser opinions ... Read More »

Appraisal Institute says Lower Your Expectations

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The Appraisal Institute is advising homeowners to choose upgrades instead of major remodeling projects for the greatest potential return on investment. “In general, simpler, less expensive projects have the best cost-to-value ratio,” said Appraisal Institute President M. Lance Coyle, MAI, SRA. “With the spring home buying season around the corner, homeowners should invest in projects that are most likely to preserve ... Read More »

Appraisers: Does CU Mean See You Later?

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Will Fannie Mae’s roll out this year of Collateral Underwriter (CU), its proprietary automated appraisal risk assessment tool, reduce appraisers to be nothing more than servants of a computerized tool?  Or is it “just another tool that is reviewing appraisers just as other processes have all along.” as a Fannie spokesperson put it? Will it meld underwriting and appraisal into ... Read More »

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