Residential appraising has now officially entered a new era. With the institution of UAD 3.6, the traditional way of communicating the appraisal report is undergoing a deep transformation and modernization that affects not only the appraisal community, but also lenders and other stakeholders that have a vested interest in the valuation process. The Uniform Residential … Continued

Have you read an appraisal report and seen that the real estate appraiser commented that the property suffers from functional obsolescence? When evaluating real estate, one often overlooked but critical factor that can significantly affect a property’s value is functional obsolescence. This term refers to a decline in a property’s appeal or usefulness due to outdated … Continued