The Appraisal Cast

In this episode, Ryan Bays shares some funny stories about finding folks asleep during the inspection, and a couple of lessons we can all learn from situations like these.   The Appraisal Cast is sponsored by The Guide To Appraisals series of E-Books: The Loan Officer's Guide to Appraisals The Realtor's Guide to Appraisals The Homeowner's Guide to Appraisals Check them out here:  https://riverfrontappraisals.com/guides/

Have you ever tried to apply 'common logic' to the appraisal process?  How about this:  have you ever said, "Market value is whatever someone wants to pay for a house" ?  If so, you'll want to listen to this podcast.  Ryan discusses that question, as well as more in this episode.   The Appraisal Cast is sponsored by The Guide To Appraisals series of E-Books: The Loan Officer's Guide to Appraisals The Realtor's Guide to Appraisals The Homeowner's Guide to Appraisals Check them out here:  https://riverfrontappraisals.com/guides/

If you're about to list your home for sale, you may be thinking about getting it appraised first.  In this podcast, Ryan discusses several reasons why it's a good idea to get your home appraised before listing it for sale. Be sure & listen all the way to the end for a little surprise from Ryan! The Appraisal Cast is sponsored by The Guide To Appraisals series of E-Books: The Loan Officer's Guide to Appraisals The Realtor's Guide to Appraisals The Homeowner's Guide to Appraisals Check them out here:  https://riverfrontappraisals.com/guides/

It's one of the questions on everyone's mind.  What can I do to increase the value of my home?  In this episode, Ryan discusses some improvements you really should consider, some you should not consider, and others that might be necessary, but won't likely return much in market value.     The Appraisal Cast is sponsored by The Guide To Appraisals series of E-Books: The Loan Officer's Guide to Appraisals The Realtor's Guide to Appraisals The Homeowner's Guide to Appraisals Check them out here:  https://riverfrontappraisals.com/guides/

The appraisal has been ordered on the home, and the appraiser has reached out to schedule the inspection.  But it's that appraiser.  You know, the one you don't want.  Is it ok to ask for a different appraiser?  Or is it ok to complain to the lender and get the appraiser reassigned?  Ryan looks at the answer and gives a warning in this episode.  You don't want to miss this one if you're in sales or lending!   The Appraisal Cast is sponsored by The Guide To Appraisals series of E-Books: The Loan Officer's Guide to Appraisals The Realtor's Guide to Appraisals The Homeowner's Guide to Appraisals Check them out here:  https://riverfrontappraisals.com/guides/

We get this question a lot, and it's a unique question in that it gets asked before the apprasal:  "Who should be at the home during the appraisal?"  Ryan offers several answers to this question, and why he thinks its best if a seller is there.   The Appraisal Cast is sponsored by The Guide To Appraisals series of E-Books: The Loan Officer's Guide to Appraisals The Realtor's Guide to Appraisals The Homeowner's Guide to Appraisals Check them out here:  https://riverfrontappraisals.com/guides/

In this eposide, Ryan Bays discusses the latest Fannie Mae Selling Guide Update, and how it will impact loan officers, Realtors, homeowners, and appraisers. To read the full Update, visit: https://singlefamily.fanniemae.com/news-events/announcement-sel-2023-02-selling-guide-updates The Appraisal Cast is sponsored by The Guide To Appraisals series of E-Books: The Loan Officer's Guide to Appraisals The Realtor's Guide to Appraisals The Homeowner's Guide to Appraisals Check them out here:  https://riverfrontappraisals.com/guides/      

In this eposide, Ryan Bays discusses how a typical appraisal (for refinance or purchase) may or may not impact your property taxes.  One of the frequently asked questions we get from homeowners is "How will the appraisal affect my property taxes?"  No one wants us to send the appraisal to the assessor!  Listen to our latest podcast and get the answer to this FAQ. The Appraisal Cast is sponsored by The Guide To Appraisals series of E-Books: The Loan Officer's Guide to Appraisals The Realtor's Guide to Appraisals The Homeowner's Guide to Appraisals Check them out here:  https://riverfrontappraisals.com/guides/

In this eposide, Ryan Bays discusses the various methods, or approaches to value.  We discuss the Sales Comparison Approach, the Cost Approach, and the Income Approach.  After listening, you'll have a basic understanding of all three approaches, and when each might be employed. The Appraisal Cast is sponsored by The Guide To Appraisals series of E-Books: The Loan Officer's Guide to Appraisals The Realtor's Guide to Appraisals The Homeowner's Guide to Appraisals Check them out here:  https://riverfrontappraisals.com/guides/

In this eposide, Ryan Bays discusses when peeling paint can be an issue, and how to deal with it.  Be sure and listen to find out what structures an appraiser will be inspecting during an appraisal, and then the three most important steps in repairing peeling paint. The Appraisal Cast is sponsored by The Guide To Appraisals series of E-Books: The Loan Officer's Guide to Appraisals The Realtor's Guide to Appraisals The Homeowner's Guide to Appraisals Check them out here:  https://riverfrontappraisals.com/guides/

Today's FAQ is comes to us from homeowners everywhere.  It's the last question appraisers usually get, as they're just about to leave the property after inspecting. "So how long does it take to get my appraisal back?" We answer this question today!   The Appraisal Cast is sponsored by The Guide To Appraisals series of E-Books: The Loan Officer's Guide to Appraisals The Realtor's Guide to Appraisals The Homeowner's Guide to Appraisals Check them out here:  https://riverfrontappraisals.com/guides/

Have you ever sold a home and the appraisal came back under contract price?  If you're a homeowner, and this happens to you, the deal isn't dead!  And, if you're a Realtor, this episode will help you understand the options your buyer or seller have. It's a topic we've covered at length on the podcast, but as it keeps coming up, we'll keep covering it. The Appraisal Cast is sponsored by The Guide To Appraisals series of E-Books: The Loan Officer's Guide to Appraisals The Realtor's Guide to Appraisals The Homeowner's Guide to Appraisals Check them out here:  https://riverfrontappraisals.com/guides/

Recently, a Realtor friend of mine had a listing with three bedrooms and one bathroom.  However, the only bathroom and two of the bedrooms didn't have 7' high ceilings, required by ANSI.  What were his options?  Did he have to advertise the home as a one bedroom, zero bathroom home?  Find out in this episode when we answer the question, "How are Non-ANSI compliant bedrooms treated?" The Appraisal Cast is sponsored by The Guide To Appraisals series of E-Books: The Loan Officer's Guide to Appraisals The Realtor's Guide to Appraisals The Homeowner's Guide to Appraisals Check them out here:  https://riverfrontappraisals.com/guides/   For the Fannie Mae FAQ document discussed in today's episode, click here.    

Realtors, how many times have you had a buyer switch lenders, and wondered if you could use the original appraisal?  Loan officers, how many times have you reached out to an appraiser, and asked them to simply change the name on the report from the old lender to the new?   In this episode, Ryan discusses appraisal transfers.  Can they be done, and if not - what are the other options? The Appraisal Cast is sponsored by The Guide To Appraisals series of E-Books: The Loan Officer's Guide to Appraisals The Realtor's Guide to Appraisals The Homeowner's Guide to Appraisals Check them out here:  https://riverfrontappraisals.com/guides/

Appraisal waivers are a bit of a mystery, and have often been touted as only a positive thing for borrowers.  They do shorten the time it takes for most to get a loan, but what really is an appraisal waiver, and what are the dangers of waivers? If you're a Realtor, you'll want to pay close attention to the end of this episode where Ryan gives some good advice about how to uphold your fiduciary duty to your client, even if they qualifiy for an appraisal waiver.   The Appraisal Cast is sponsored by The Guide To Appraisals series of E-Books: The Loan Officer's Guide to Appraisals The Realtor's Guide to Appraisals The Homeowner's Guide to Appraisals Check them out here:  https://riverfrontappraisals.com/guides/

In this bonus episode, Ryan pays tribute to longtime exective assistant and marketing manager, Janna Woodfall.  Check out Matt & Janna Woodfall's two new businesses:   Bear Waves Smoky Mountain Cabin https://www.airbnb.com/rooms/639079058330348773?source_impression_id=p3_1674741145_9zbGxsZZArzv%2B3tB Woodfall & Sons https://woodfallandsons.com/

We get this FAQ quite a bit, actually.  Several of our homeowner clients are curious about what happens to the appraisal after we've completed it.  Most hope it doesn't find its way into the hands of the Tax Assessor.  So today, I'll answer the question, “Are Appraiasls Part of the Public Record?” The Appraisal Cast is sponsored by The Guide To Appraisals series of E-Books: The Loan Officer's Guide to Appraisals The Realtor's Guide to Appraisals The Homeowner's Guide to Appraisals Check them out here:  https://riverfrontappraisals.com/guides/

This FAQ came to us from a brand new real estate agent completely new to the process of selling homes.  There's a lot of people involved in a typical real estate transaction, and it's very easy to get the players confused from time to time!  In this short blog, I'll answer the question, “What's the difference between an appraisal and a home inspection?” Guide to Appraisals E-Books: https://riverfrontappraisals.com/guides/

Get your Guide to Appraisals E-Book here: https://riverfrontappraisals.com/guides/

Get Guides to Appraisals E-Books Here: https://riverfrontappraisals.com/guides/

Bonus Episode!  As 2022 draws to a close, many will be thinking about making New Year's Resolutions.  In this episode, Ryan Bays instead suggests finding a word.  One Word.  Listen in and learn how finding your One Word can have huge impacts on your life and business.  Thanks for listening, and here's to a great 2023!

In this episode, we answer several of the most frequently asked questions our office gets on a weekly basis from Realtors and Homeowners. 

One of Ryan's favorite things to do is speak to Realtor offices about appraisals. And inevitably, no matter what topic he is asked to speak on, the discussion turns to FHA appraisals. “What should I be on the lookout for?” “Do I need to make the repairs before listing the house?” “How is an FHA Appraisal different from a ‘regular' appraisal?” “Do you have a checklist for me?” Questions surrounding FHA appraisals are many, so we'll wrap up this season with a discussion of FHA appraisals.  Show Notes: https://cutt.ly/wMw9m8j

Selling real estate is tough enough, stressful enough, and sometimes cutthroat enough the way it is.  Then you introduce multiple offers on a home and it just gets worse.  You've got timing to consider, you've got your client's best interest to protect, you've got other duties you have to fulfill, you have to walk though all the offers with your seller, or try & craft the best offer for your buyer.    And then, there's the appraisal. Listen to this episode to find out how an appraiser handles multiple offers.

Have you ever had a listing that didn't appraise for contract price?  It's frustrating, for sure – especially if you feel like you don't have any options!  The home didn't appraise for contract price, so the deal is dead, right?  Not at all!  When this happens, most parties have three options:  lower the sale price to the appraised value, have the buyer come out of pocket for the difference, or cancel the sale.  But those are all options you'll need to consider after challenging the appraisal.  

I can't think of a more polarizing topic – one that has completely shaken up the appraisal industry since the first part of 2022 – than ANSI.  In April, 2022, Fannie Mae announced that any home purchased by them will need to be measured using ANSI standards.  This has caused more than a little chaos and confusion, so this episode will help clear some of that up for you. Show Notes: https://cutt.ly/4Z18FBH

What is AppraiserPreneur? AppraiserPreneur is an online community of appraisers where members can grow as an appraiser and a business owner.  Where appraisers young and old can mentor each other to reach their God-given potential.  Where we can encourage, help, and challenge one another. Where we find that sense of belonging we all long for, and see true transformation. Find out more here: https://appraiserpreneur.com/

Over the years, we've heard it all.  Misunderstandings about the appraisal process are plentiful, and some of those really do affect the way you do business.  So this podcast episode will address (albeit briefly) five of the most common myths we've heard.  We'll set the record straight, and give you greater confidence the next time one of these issues comes up! Show Notes: https://cutt.ly/OLt5EBc  

The Realtor's Guide To Appraisals Part 6: Can I Give Sales To An Appraiser? Purchasers are paying at and above list price and appraised value, multiple-bids are commonplace now, and more than ever, appraisals are coming in under sale price. What's a Realtor to do? Show Notes: https://cutt.ly/UKvSFVv

When's the last time you picked up the phone and called an appraiser?  Maybe you had a question about how to adjust for an inground pool.  Maybe you had a problem and the home didn't appraise at the sale price.  Do you ever communicate with the appraiser? 

Have you ever listed a home and during your listing appointment, the homeowner mentioned a previous appraisal?  Maybe they kept impeccable records and had the appraisal from when they bought the home, as well as a refinance appraisal from two years ago.  Which one should you use?  What's the difference between the two? 

Welcome to your crash course in choosing comps.  In this podcast episode, we'll discuss the various methods for choosing comparable sales, just the way an appraiser does.  

Having an appraiser on your team can not only help you if you have a problem, but it can also help you grow in all aspects of life and business.  When you learn from someone who is in a different area of real estate, you're challenged to grow, you can learn new concepts and ways of helping your buyers/sellers, and you can also learn from someone else's mistakes!  Show Notes: https://riverfrontappraisals.com/the-realtors-guide-to-appraisals-part-2-why-you-need-an-appraiser-on-your-team/

All throughout 2022, The Appraisal Cast focus will be on helping Realtors understand a little more about appraisals.  Each month, the episode will be about a topic that affects both the appraiser and the Realtor, and how the Realtor can serve their clients better with a deeper understanding of the appraisal process. Show Notes: https://riverfrontappraisals.com/how-to-determine-adjustments/

Over the years, I've been asked hundreds of questions relating to appraisals.  This episode includes some of the questions I've heard repeatedly and I have a feeling you've probably asked a few yourself.   Show Notes: https://riverfrontappraisals.com/the-loan-officers-guide-to-appraisals-part-12-frequently-asked-questions/  

Get your free sample chapter of The Guide To Appraisals E-Book here: https://www.guidetoappraisals.com/

We'll look at why standards matter, we'll look at a few ANSI basics, and then tie it all back to what it all means for you – the loan officer. Show Notes: https://cutt.ly/LTRODlU ANSI Document: https://cutt.ly/bTRDMmt

In this episode, Ryan Bays discusses what an extraordinary assumption is, how and why it's used, and how it differs from a hypothetical condition, and finally why these assumptions are so ‘extraordinary'.  Listen on! Show Notes: https://riverfrontappraisals.com/the-loan-officers-guide-to-appraisals-part-10-how-extraordinary-assumptions-are-used/

Welcome to the September edition of our series, The Loan Officer's Guide to Appraisals.  This entire year, the Appraisal Cast episodes' purpose has been assisting loan officers to better understand the appraisal process.  This month's episode will be all about new construction appraisals.  These appraisals present unique challenges, but I'll provide tips here so that everyone can make the process just a little easier.   -Ryan Bays   Show Notes: https://cutt.ly/1WkzWwR

I'll say from the outset that this episode will attempt to provide a well-rounded argument for several ways in which an appraiser can be biased, and some may just surprise you.    Show Notes for this episode: https://riverfrontappraisals.com/appraiser-bias-not-just-about-color/

I hope I'll be able to not only help our listeners to understand what all goes into an appraisal, and why it sometimes takes a while, but also give you some helpful tips on reducing the time it takes to get an appraisal report back.    

In this podcast we discuss the topic of FHA appraisals, and the few ways in which they differ from an appraisal completed for conventional loan purposes.  We cover the basics, giving you all the tools you need to understand this type of appraisal, and we've also included a handy cheat-sheet you can give to your clients that lists many of the items an appraiser will look for during an FHA appraisal inspection. Find this cheat-sheet in the show notes link below.    Show Notes: https://riverfrontappraisals.com/the-loan-officers-guide-to-appraisals-part-6-how-are-fha-appraisals-different-from-others/

In this podcast, we discuss the topic of bracketing.  Most lenders want to see it done, not everyone understands it, and appraisers don't like it when they feel pressured to do it!  So what exactly is bracketing? Show Notes: https://cutt.ly/abQGxx4 Take our Survey: https://forms.gle/7D3nw8tLHsgpotrUA  

In part four, we're going to be looking at the reconsideration of value (ROV) process, tips for a successful ROV, and how to implement an ROV process if you don't already have one. Show Notes: https://cutt.ly/ech0kOb

We'll discuss communication between three sets of parties.  The Realtor & Appraiser, the Loan Officer & Appraiser; and the Loan Officer & Client. Don't worry, it can be done, and it can be helpful! Show Notes: https://riverfrontappraisals.com/lenders-guide-to-appraisals-part-3-communication-with-the-appraiser/

In this episode, we're going to give you an appraiser's perspective on unique homes, and help you get the tools you need to successfully navigate lending on those sometimes quirky, atypical, and hard to… well, everything, homes! Show Notes: https://riverfrontappraisals.com/lending-on-unique-homes/  

 We'll briefly look at what a final inspection is – for those who may be new to the business – and most importantly, we'll give you steps you can take to make the most of an appraiser's return visit to a property. Show Notes: https://cutt.ly/bjAcTSM  

This is the last installment of our 12 part series on Promoting Public Trust.  The FAQ podcast.  In this final episode, we'll look at some of the most frequently asked questions regarding an appraiser's professional standards.   Show Notes: https://riverfrontappraisals.com/promoting-public-trust-part-12-frequently-asked-questions/

Competency is a big part of the appraisal world and is one of the keys to having a well-developed appraisal report.  An appraiser must be competent in many areas, and we'll look at some of those in this podcast.   Show Notes: https://riverfrontappraisals.com/promoting-public-trust-part-11-competency/

Every time I appraise a property, my appraisal has conditions that impact the scope of work and the type of report I complete.  In this blog post, we'll look at types of assignment conditions that are unacceptable.    Show Notes: https://riverfrontappraisals.com/promoting-public-trust-part-10-unacceptable-assignment-conditions/

Stereotyping.  Discrimination.  Fair Housing.  In part nine of our current series called Promoting Public Trust, we discuss these ideas, and how they relate to real estate appraisals.  We'll consider what an appraiser can and cannot say (or write), and why that matters to you – the homeowner. Show Notes: https://riverfrontappraisals.com/promoting-public-trust-part-9-fair-housing/