Fannie Mae updates its Selling Guide to include more options for property valuations. Early signs of a housing market rebound are halted by rising interest rates. A new episode of Beyond the Numbers with McKissock Appraisal interviews Robbie Wilson to learn how his company, RSDS, is working to increase appraisal diversity. Registration is now open for the 2023 Appraiser’s Conference and Trade Show (ACTS). Read on for more appraisal news.
Fannie Mae updates Selling Guide, adds more options for property valuations
“Fannie Mae updated its Selling Guide on Wednesday to include more options for property valuations, saying that they are ‘moving away from implying that an appraisal is a default requirement,’” HousingWire reports. In Fannie’s announcement of the updates, it says it’s “transitioning to a range of options to establish a property’s market value” that “balances traditional appraisals with appraisal alternatives.” Options introduced with this update include value acceptance (a.k.a. “appraisal waivers”), value acceptance + property data, and hybrid appraisals.
Read the full HousingWire article here. Download Fannie Mae’s “Announcement SEL-2023-02: Selling Guide Updates” here.
Related CE course: Best Practices for Bifurcated and Hybrid Appraisals
Housing market rebound halted by rising rates
HouseCanary’s new Market Pulse report released on Wednesday indicates that early signs of a potential housing market rebound in January “retreated in February on the heels of additional rate hikes.” The report shows that prices have continued to trend downward due to persistent low inventory, decreasing market activity, and steadily rising interest rates.
“Although higher interest rates continue to slow market activity,” HouseCanary states, “we believe that the market environment is still headed towards a buyer’s market, and expect that more normalized supply demand dynamics and pricing could be in play by the end of 2023.”
Get HouseCanary’s February Market Pulse report here. Read MReport’s key takeaways here.
RSDS works to increase appraisal diversity, knock down barriers to entry
In the latest episode of our podcast, Beyond the Numbers with McKissock Appraisal, we interview Robbie Wilson, an industry-recognized subject matter expert (SME) on Appraisal Standards and Ethics. Wilson is the current President of the National Society of Real Estate Appraisers (NSREA) and also serves as Chief Appraiser, Risk, Compliance officer with RSDS, LLC in Dallas, TX.
Topics covered include:
How RSDS is attempting to create a more diverse real estate appraisal industry
The generational problem of entry into the industry that RSDS is working against
How biased appraisal processes are being corrected to improve the industry
Listen to the full episode on YouTube or wherever you get your podcasts.
Related CE course: Fair Housing, Bias and Discrimination
Registration is now open for 2023 ACTS conference
The fifth annual Appraiser’s Conference and Trade Show (ACTS) will be held April 1-4, 2023 in Sacramento, California. The event will be co-hosted by the National Association of Appraisers and Appraiser eLearning and will feature expert speakers on hot topics from around the appraisal industry. McKissock Learning will be participating in ACTS as a sponsor. We hope to see you there!
Register for the 2023 ACTS conference here.
