Better Hit That Number!

[LesPaul59]

see...all the 15th st shills aren't gone yet

I have no idea what you are talking about. Why are you digging your heels in on fear?

 

[Carnivore]

The "PAVE" concept is changing our role from a disinterested role to an Advocate role. I do not not agree with that change at all, I say let us arrive at the as-is value and let the Government/lender calculate the Restorative Competitive Value addition.

 

[LesPaul59]

A colleague recently shared an important heads up regarding Fannie Mae and Freddie Mac’s plans to implement photo recognition AI to analyze appraisal photos. This technology can scan a single photo and extract over 100 data points related to quality, condition, and repairs. For example, it can identify flooring types, appliance models, and even assess light levels in a room.

Later this year, the GSEs plan to run all appraisal reports through this AI and cross-check the appraiser’s stated quality and condition ratings. If the AI’s analysis differs significantly from the appraiser’s, it will automatically generate a complaint letter to the appraiser’s state licensing board regarding a potential USPAP violation. While many of these letters in the past have been frivolous, the detailed support from the AI analysis will make complaints much more serious.

Better brush up on FNMA’s definitions, folks. And just when you thought it couldn’t get any crazier, borrower inspections are on the horizon too. Brace yourselves!

"Brace yourselves!"

Ah yes. That never gets old. I'm surprised they didn't use the words "slammed" or "crushed." These are terms that lend zero credibility IMO. What does "brace yourselves" mean and what good would bracing yourself do? It does more harm than good. It's like saying tighten up and hold your breath in fear until you have a stroke. Does more harm than good. Screw this person.

 

[Carnivore]

The "PAVE/PAREA" concept is changing our role from a disinterested role to an Advocate role.
Anytime we let Brookings get involved and gain control over OUR profession is nothing but trouble.

Biased appraisals and the devaluation of housing in Black neighborhoods

Recent research shows that homes in Black and Latino or Hispanic neighborhoods are more likely than homes in white neighborhoods to be valued below what a buyer has offered to pay. Here, we examine these findings in the context of our own studies on the devaluation of housing in Black neighborhoods.

www.brookings.edu

 

[djd09]

I have no idea what you are talking about. Why are you digging your heels in on fear?

you are starting to remind me of barney frank...these two entities are not facing any kind of crisis...the more it is exaggerated...the more pressure...and thus less affordable housing

 

[sputnam]

The "PAVE" concept is changing our role from a disinterested role to an Advocate role. I do not not agree with that change at all, I say let us arrive at the as-is value and let the Government/lender calculate the Restorative Competitive Value addition.

Yeah... but.... the 'powers that be' don't want to take responsibility and possible liability.

 

[Tom D]

damn, i gotta sell my buggy whip collection. they worked good when i had to rush to the next house.

 

[jay trotta]

Summarizing our research​

In 2018, we published a report called “The devaluation of assets in Black neighborhoods: The case of residential property,” with our co-author David Harshbarger. That report sought to explain variation in residential property values across neighborhoods and asked whether homes were valued differently based on the number of Black residents.
We found that Black neighborhoods were associated with much lower property values overall, and only some of this effect can be explained by physical characteristics and neighborhood amenities.
Median home values in majority Black census tracts are 55% lower than median home values in non-Latino or Hispanic white census tracts. Part of this difference is attributable to quality differences between the housing stock. Lower wealth in Black communities means that homes in majority Black neighborhoods tend to be older, smaller, and more likely to be attached than homes in neighborhoods with few or no Black people. Lower wealth and lower home values further hinder the ability of Black homeowners to pay for structural improvements to the home and access mortgage refinancing to pay for renovations.

Just curious as to how many of you research Sales by Census Track? in any neighborhood.

 

[Carnivore]

I have taken the time to view the census track information. There is nothing we need for our appraisals. The Lenders/GSE's need that info to supposedly make their loans to consumers. What it does tell them is related to risK analysis. I say to them look it up your self.

 

[Terrel L. Shields]