Listen | 2:12 min When evaluating a property, it’s easy to focus on the visible features, including location, layout, and curb appeal. But beneath the surface, there are critical factors that significantly influence value. One of the most important is depreciation and its counterpart, obsolescence. Depreciation refers to the loss of value over time due … Continued

If you’re using an FHA loan, the appraisal isn’t just about value. FHA appraisals also focus on health and safety, so small issues can turn into required repairs. Here’s what the appraiser looks for Why FHA appraisals feel “stricter” than conventional ones With a conventional appraisal, the main focus is usually the home’s value and … Continued

ANSI Z765 2021 Standard Explained What is ANSI Standard Z765-2021 and how does it apply to Real Estate Appraisals? As of April 1, 2022, Fannie Mae requires appraisers to follow ANSI Z765‑2021 (AKA “ANSI standard”) as the standard for most residential appraisals. If you have looked at a recent appraisal and noticed that the square … Continued

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 This term refers to a decline in a property’s appeal or usefulness due to outdated … Continued