News By Edition

Valuation Review sat down with the newly appointed president of The Appraisal Foundation (TAF), Kelly Davids.

At the conclusion of his contract this year, David Bunton will retire from his role with TAF after nearly 34 years of service within the organization. Davids shared with us her immediate plans and goals for the appraisal profession and how TAF can assist appraisers in the years to come.

Read Part I of our exclusive feature on the new TAF president.

In a letter to the Illinois Joint Committee on Administrative Rules, Consumer Financial Protection Bureau Deputy Director Zixta Martinez outlined specifics regarding the Illinois Department of Financial and Professional Regulation’s proposed rules for the state’s Community Reinvestment Act.

Specifically, she addressed changes to the rules about discriminatory appraisals.

Read on to learn more.

In 2019, an Anchorage real estate firm estimated the market value of a downtown parking lot at more than $3 million.

Earlier this year, a city agency voted to sell the lot to the former mayor for $1 million less.

Read on to learn more.

JLL’s Value and Risk Advisory platform recently announced the hiring of an executive director with its seniors housing team.  

This individual will play a critical role in supporting JLL’s clients in making informed decisions and evaluating risk in the growing seniors housing market.

Read on to learn the identity of this new hire.

Valuation Review caught up with Stacy Caprioli, Walitt Solutions’ new senior valuation and regulatory consultant, to get to know her a little better.

Caprioli shared her thoughts on what she will bring to the consulting table that benefits appraisers and clients.

Read on for the full conversation.

Kidder Mathews recently welcomed a valuation advisory specialist.

For over 20 years, he has focused on valuation assignments in the Southern California counties of Los Angeles, Orange, Riverside, San Diego, San Bernardino, and Ventura.

Read on to learn the identity of this new hire in the valuation commercial sector.

The Tarrant Appraisal District (Texas) recently gave updates on the situation regarding a March ransomware attack.

Hyper Valuation Services, LLC (HVS), a division of HYPERAMS, LLC, recently announced a new director of business development. He will focus on driving continued and future sales growth of HVS’ appraisal business and establishing productive relationships with existing and new clients across the country, particularly in the Southeast market.

As part of its ongoing effort to scan appraisal reports for “prohibited or subjective language,” Fannie Mae issued a recent progress report on a process to rid appraisal reports and valuation decisions of any wording that could be contributing to appraisal bias.

Recently, Veros Real Estate Solutions released its 2024 Q1 VeroFORECASTSM, with projections indicating an average nationwide home price appreciation of 2.9 percent over the next 12 months.

This is an upward revision from last quarter’s forecast of 2.4 percent.

Read on for more from this report.

Aloft recently unveiled a development in its artificial intelligence (AI)-driven image analysis. Embedded in Aloft’s signature software product, Appraiser Toolkit, the feature marks an advancement in the standardization of quality and condition ratings in appraisal reports.

Rocket Mortgage has unveiled Rocket Logic – the company’s artificial intelligence-driven technology platform designed to make homeownership simpler and quicker.

Earlier this month, the government-sponsored enterprises launched the new Uniform Property Dataset.

Valuation Review spoke with Dan McAlister, vice president of product management at Clear Capital, for his thoughts on the launch and how it will affect the appraisal profession moving forward.

Read on to find out what McAlister had to say.

In Part II of our feature, Valuation Review concludes its conversation with Nationwide Appraisal Network Chief Appraiser Bill Waltenbaugh.

The many effects of technology and what changes AMCs can bring to the profession are among several topics discussed.

Read on for the conclusion of this feature.

Voxtur Analytics Corp. recently announced its financial results for the three months and year ended Dec. 31, 2023. 

The Federal Housing Finance Agency released a new final rule codifying the agency’s fair lending oversight requirements for the secondary mortgage market. The rule is the culmination of the GSE progress since 2022 on policies to ensure all borrowers and renters have access to fair, sustainable and equitable housing opportunities, according to an agency press release.

While the real estate industry adapts to the structural changes coming its way, the Consumer Financial Protection Bureau’s Office of Research conducted laboratory experiments to investigate the effects of price complexity on market outcomes.

Results indicated consumers paid more when costs were split into sub-prices, and the more complex the pricing, the worse the buyers fared.

Read on to learn more.

The Tarrant Appraisal District (TAD) in Fort Worth, Texas, is extending the deadline to protest property tax valuations following the recent ransomware attack on TAD.

The U.S. Department of Housing and Urban Development recently announced it approved a conciliation agreement under the Fair Housing Act between the Metropolitan Management Corp. and Lancaster Court Associates and a family of former tenants.

Valuation Review concludes its conversation with The Appraisal Foundation (TAF) President Kelly Davids.

In Part II of our exclusive feature, Davids discussed more facets of the appraisal profession where TAF can continue guiding appraisers and promoting public trust.

Read on for the conclusion of this feature story.

Intercontinental Exchange, Inc. presented original research focused on the critical intersection of climate risk and housing affordability.

This was made possible by the integration of the company’s climate, property and loan-level mortgage datasets and proprietary analytics, during the AmeriCatalyst Going to Extremes Leadership Summit in Washington, D.C.

Read on to learn more.

On May 1, the U.S. Department of Housing and Urban Development (HUD), through the Federal Housing Administration, announced a new step in HUD’s work to protect borrowers from racial or ethnic bias in home appraisals. 

Candescent Capital Ventures, LLC recently announced an experienced industry veteran will add a wealth of expertise to growing firm. In his new role, he will drive the strategic execution and alignment of innovative products and services being developed in Candescent’s portfolio of companies.

Apprise, a Walker & Dunlop, Inc., company, recently announced its strategic expansion in the Midwest. The company is adding a team of five seasoned industry experts.

Instappraise, a jewelry and watch valuation software provider, has technology to redefine and elevate the aesthetic and presentation of appraisal reports.

In Dustin Harris’ (“The Appraiser Coach”) blog “Small Equals Big,” the veteran appraiser shared his thoughts on change.

Resistance to change is a natural reaction, Harris noted, but he offered some ways to help with regards to adapting to change.

Read on for more appraisal insight.

Point2, an international real estate search portal and a division of Yardi Systems Inc., recently released its original research, insights and in-depth analysis of the real estate market.

The report included housing inventory and construction numbers.

Read on for more details.

Scrutiny of appraisals following investigative reports has led to less discrimination, according to the Real Deal Estate news. Chicago appears to be turning the page on racial bias in real estate appraisals.

The Conference of State Bank Supervisors and the Federal Housing Finance Agency recently entered into a formal agreement designed to facilitate information sharing with respect to nonbank mortgage companies.

The median monthly U.S. housing payment hit an all-time high of $2,747 during the four weeks ending April 7, up 11 percent from a year earlier, according to a new report from Redfin.