News By Edition

In his article, “The Next Generation of Appraisals: Revolutionizing Real Estate Valuation with Computer Vision,” Tony Pistilli, valuations general manager at Restb.ai, discusses how new technology will enable appraisers to better use their analytical skills.

Valuation Review caught up with Pistilli to ask him our questions relating to this technological subject.

Read on to find out what we were told.

Valuation Review spoke with two Black Knight vice presidents about specific matters appraisers are dealing with today, as well as some technology initiatives that can make the industry more productive.

Desktop appraisals, AVMs and artificial intelligence were a few of the issues brought.

Read on for more from the Black Knight team.

Elizabeth Green, who co-chairs the MISMO Property and Valuation Services community of practice and serves as head of digital solutions for Candescent Capital Ventures, shared her technology thoughts with Valuation Review.

Green gave us some insights on topics from desktop appraisals to the ANSI measuring standards.

Read on for the full conversation.

JLL’s Value and Risk Advisory group expanded its multi-housing sector practice with five key hires in the Dallas, Denver and Phoenix markets.

The new hires will report to Kai Pan, executive managing director and national head of the multi-housing property sector.

Read on to learn more about these new hires.

Nearly seven out of 10 metro markets registered home price gains in the first quarter as 30-year fixed mortgage rates fluctuated between 6.1 percent and 6.7 percent, according to the National Association of REALTORS latest quarterly report.

Seven percent of the 221 tracked metro areas registered double-digit price increases over the same period, down from 18 percent in the fourth quarter of 2022.

Read on for more from this market analysis.

With inflation leading some families to move to cities with a low cost of living, the personal-finance website WalletHub recently released its report on 2023’s “Best & Worst Places to Raise a Family.” To determine the most family-friendly places in America, WalletHub compared more than 180 cities across 45 key metrics.

S&P Dow Jones Indices recently released the latest results for the S&P CoreLogic Case-Shiller Indices.

In March, the analysis showed a continuing recovery in housing prices, as all 20 major metro markets reported month-over-month price increases.

Read on for more marketing numbers.

CoreLogic recently released its monthly Loan Performance Insights Report for March.

Early-stage delinquencies (30 to 59 days past due) were 1.1 percent, unchanged from March 2022.

Read on to learn more.

Black Knight, Inc. reports the following analysis of the April 2023 month-end mortgage performance statistics.

The numbers are derived from its loan-level database, representing the majority of the national mortgage market.

Read on for more information.

U.S. house prices rose 4.3 percent between the first quarters of 2022 and 2023, according to the Federal Housing Finance Agency House Price Index. House prices were up 0.5 percent compared with the fourth quarter of 2022.

Valuation Review caught up with SettlementOne Chief Appraiser George Paquette to get his thoughts on some selected technology matters.

Paquette discussed mobile inspection apps and supporting third-party inspection services, among other things.

Read on for the full story.

Voxtur Analytics Corp. recently revealed an exclusive strategic partnership with one of the largest Federal Housing Administration and Veterans Administration lenders in the country to implement Voxtur’s mortgage asset trading platform, Blue Water’s new Correspondent-as-a-Service platform.

ClearValue Consulting, a provider of enterprise-class vendor management technology, announced it is verified and in live production to support Freddie Mac’s ACE+ PDR (automated collateral evaluation plus property data report) solution. The announcement means ClearValue can now provide appraisal management companies and lenders with a scalable, end-to-end solution supporting implementation of Freddie Mac’s ACE+ PDR solution.

HealthCare Appraisers, a national healthcare valuation and advisory firm, named a new partner in the company who will lead the Senior Housing Valuation Service Line. The company said the new service line firmly establishes it as an industry leading valuation firm with comprehensive real estate services.

BBG appointed a seasoned industry professional to the position of managing director.

Based at the commercial real estate firm’s Dallas office, he will lead and drive continued growth in BBG’s cost-segregation services.

Read on to find out more about this appointment.

National Association of Realtors President Kenny Parcell issued a statement after the White House’s Property Appraisal and Valuation Equity Task Force's recent announcement.

The statement outlined significant regulatory actions and changes to address appraisal bias.

Read on to learn more.

According to the National Federation of Independent Business’ monthly jobs report, 44 percent (seasonally adjusted) of all owners in May reported job openings they could not fill, down one point from April but still 20 points higher than the 49-year average reading.

The 19^th annual National Settlement Services Summit (NS3) in St. Louis, the yearly conference hosted by October Research, LLC., featured a noteworthy presenter whose keynote address inspired the audience with tips necessary for success.

Valuation Review was at NS3 to listen to Ed Molitor, founder and CEO of The Molitor Group and host of the podcast “The Athletics of Business,” who brought much energy and passion to the main ballroom stage.

Read on to find out what Molitor told the conference attendees.

The Federal Housing Administration finalized changes to the claims process for home equity conversion mortgages (HECM), also known as reverse mortgages. The change will allow for faster payment of funds to mortgagees when a HECM is assigned to the U.S. Department of Housing and Urban Development.

BBG reached out to Valuation Review to share information from its report on how appraisers can support legal and tax professionals in getting relief from rising commercial real estate (CRE) property taxes this year.

With increasing tax assessments for CRE properties, an independent third-party appraisal may lessen some burdens, according to BBG.

Read on to learn more.

In accordance with the Paperwork Reduction Act of 1995, the Appraisal Subcommittee invites public comments on its intention to request approval by the Office of Management and Budget to renew an information collection request entitled “Collection and Transmission of Annual AMC Registry Fees.”

The U.S. Department of Housing and Urban Development kicked off activities for this year’s National Healthy Homes Month (NHHM), an annual campaign highlighting the direct link between housing quality and residents’ health, on June 1. NHHM serves to educate families and communities about the importance of creating and maintaining a healthy home.

ASA recently announced the results of its 2023-2024 elections for new International Officers, Board of Governors and Discipline Committee Officers and Members At-Large. Those elected officially took office on July 1.

The ability to adjust is a critical skill required by all within the appraisal profession. The inability to adapt to and adopt new and alternative ways to succeed in the valuation would be a recipe for failure. But new technology has introduced the appraiser to a successful path to walk upon and thrive.

Part of the 2023 Appraisal Technology report.

Initiatives like PAREA and emerging technologies including artificial intelligence, computer vision and machine learning may prove to be "game changers" in the appraisal industry, according to industry leaders.

Read on to learn how advancing technology will impact the profession.

Part of the 2023 Appraisal Technology report.

An appraiser’s knowledge of the market they determine value in has always been of the utmost importance. Technology can further enhance an appraiser’s understanding of the market and give them a competitive advantage.

Read on for more on such tools.

Part of the 2023 Appraisal Technology report.

Many appraisal organizations are implementing new tools to address changes and updates to modernization, as well as constructing ways to provide easier accessibility of data to appraisers and improved data that supports the changing times.

Part of the 2023 Appraisal Technology report.

Fannie Mae’s announcement on March 1 regarding an update to its Selling Guide that now allows value acceptance, value acceptance + property data and hybrid appraisals as home valuation options drew quite the response from appraisers and organizations.

Read on to hear from industry experts about how the announcement will affect technology in the appraisal profession.

Part of the 2023 Appraisal Technology report.

Artificial intelligence is quickly making its way into the real estate and appraisal valuation arena. Industry experts review the benefits and possible risks or concerns of using this method of technology for appraisals.

Part of the 2023 Appraisal Technology report.

On June 22, the Appraiser Qualifications Board voted to adopt the Second Exposure Draft of proposed changes to the Real Property Appraiser Qualification Criteria. The new edition will become effective on Jan. 1, 2026.