We’re all hearing more and more about the new Uniform Appraisal Dataset (UAD 3.6). Some of you may have even gotten inquiries from lenders or financial institutions already. Are you ready for it? If not, you’ll need to be very, very soon. UAD 3.6 is a complete rethinking of how valuation data is structured, communicated, […]
Last spring, Fannie Mae introduced a policy update that had appraisers and lenders talking. But this change was really just a reminder of what’s already standard practice: analyzing and adjusting for market conditions in every appraisal. The new guidance comes with a stronger push for appraisers to document time adjustments when the market demands it […]
How are appraisal software providers retooling their products for UAD 3.6? One provider, Jeff Bradford, shares his thinking. In the Appraisal Update podcast, I’m always talking about the “train of change” coming to the appraisal world. If you’re an appraiser, you probably rolled your eyes. We’ve heard this before, right? For years, people have said […]
After doing more than 2,000 appraisal reviews over the years, Bryan and his team have seen these same errors crop up again and again. Know them and avoid them. I was an investigator for the state of Tennessee for many years. These days, I primarily help appraisers who find themselves in trouble. Sometimes we’re successful […]
What’s a comparable property? Or a “comp,” as we say more informally? Let me give you an example of an appraisal report I saw recently, which is why I’m asking this question: There are 65 comparable properties currently offered for sale in the subject’s neighborhood, ranging from a price of $330,000 to $5,400,000. The report […]
Bryan Reynolds reflects on the importance of taking the time to show loved ones you care. My older brother Todd and I used to get together for lunch a couple of times a month. Sometimes we’d get sentimental and talk about the good old days, when we were kids. We had the best childhood on […]
Fannie Mae will require appraisers to use the ANSI measurement standard starting April 1, 2022. Is this a gift or no?
Bryan Reynolds asks appraisers to consider a retirement phase-out plan that may benefit you, aspiring appraisers, and the community you serve.
Bryan shares a story about how a little extra forethought might head off major headaches down the road. The Trainee Recently, my trainee Kelsey told me she had an appraisal ready for me to review. I asked her about the two busy roads that abutted the property. “Did you make an adjustment for that?” I […]
Bryan Reynolds asked a few ACTS attendees to share reflections on the conference.