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Real Estate Appraisal Industry and News
Video: Why Sign up for the Mercury Network?
September 6, 2010 By Leave a Comment
Normal Appraisal Fees
September 3, 2010 By Leave a Comment
What are Normal Appraisal Fees? Ah, good question and one that is getting asked a LOT since the HVCC/AMC debacle of 2009 (and most of 2010) that skewed the fees appraisers receive to the ridiculously low while at the same time hiking the fees consumers were charged. So the question really is, when the industry [...]
Appraisal Tools for Property Appraisals
August 18, 2010 By Leave a Comment
The Best Appraisal Tools This year we have focused on integrating the newest and the best appraisal software and appraisal tools into our property appraisals business. We are enamored with the software products from a la mode. A la mode just gets it, and they are constantly refining their products to reflect the way appraisers [...]
Video for Signing up for The Mercury Network
August 15, 2010 By Leave a Comment
Dodd-Frank a Win for Independent Fee Appraisers?
July 25, 2010 By Leave a Comment
Will Independent Fee Appraisers Recover Under HR4173? The Dodd-Frank Act may help appraisers and mortgage professionals re-gain some of the footing they lost with last year’s implementation of the HVCC. We certainly hope so. 14 months and counting into the HVCC and mortgage professionals and appraisers are struggling. Many appraisers lost their businesses and many [...]
What is the HVCC?
July 22, 2010 By Leave a Comment
The HVCC Explained The Federal Housing Finance Agency announced the HVCC in December of 2008 in a brief news release: FHFA Announces Home Valuation Code of Conduct. Where did the HVCC Come From? The HVCC is intended to protect appraiser independence by enacting a figurative “firewall” between appraisers and lenders to prevent lenders from pressuring [...]
HVCC Compliance through the Mercury Network
June 27, 2010 By
HVCC Compliance is Easier Than You Thought The requirement for HVCC compliance is changing the way Appraisers, Lenders, Mortgage Brokers, Clients and REALTORS® interact to get the deal done. HVCC Compliance and appraiser independence can be maintained while still permitting Lenders and Mortgage Brokers to work with their preferred local appraisers. The Mercury Network The [...]
Approaches to Value
June 20, 2010 By
Three Approaches to Value are used by Real Estate Appraisers to Determine the Market Value of Property: The Sales Comparison Approach The Cost Approach The Income Approach 1. The Sales Comparison Approach The most frequently-used and accepted approach to determining value in real estate appraisal practice is the sales comparison approach. This approach bases its [...]
Appraisal Inspection Overview
June 19, 2010 By
An Appraisal Inspection Determines Property Size and Condition An Appraisal Inspection is a visit to the property being appraised to collect information that is used to determine the Market Value of a property in a real estate appraisal report. For a detailed list of the steps of an appraisal, including the appraisal inspection, please read [...]
FHA Appraisals: An Overview
June 14, 2010 By
FHA Appraisals Follow Additional Guidelines FHA Appraisals are performed by approved FHA Appraisers. FHA Appraisals are required for property that will be purchased with an FHA loan. Property Inspections and FHA Appraisals If you are buying property with an FHA loan, you need to understand the difference between a property inspection and an FHA home [...]
The Mercury Network: Choose Your Local Appraiser AND Stay HVCC Compliant
June 13, 2010 By
HVCC Compliant Appraisals Don’t Require an AMC If you are a lender and subscribe to the Mercury Network, you can choose your local appraiser and stay HVCC compliant. This service is not an AMC, and it is FREE for lenders and for others who need hvcc appraisal ordering. Appraisers pay a small fee for the [...]
Estate Appraisals
June 13, 2010 By
Estate Appraisals: Family Values The death of a loved one or a close friend is one of the most difficult emotional situations most people face. As tough as this time is, you will need to remain composed in order to handle the things that must be handled during this time. At a minimum, you need: [...]
Historical Appraisals – When and Why is a Historical Appraisal Required?
June 13, 2010 By
Historical appraisals (also known as retroactive appraisals) are performed when a situation requires an appraisal of property to determine Market Value where the effective date of the appraisal is a date in the past. Banks and lenders usually require a real estate appraisal in order to determine that the value of a property (the Market [...]
