Posts Categorized: Blog

Common Real Estate Appraisal Omissions/Errors

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Valuation Management Group, working as an appraisal management services partner for banks, credit unions and mortgage brokers, completes appraisal reviews nationwide.  We see many common omissions and/or errors in appraisal reports. We thought it would be helpful for us to share some of the more common errors or omissions that VMG encounters to assist our… Read more »

Home Renovation Cost vs. Value

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Valuation Management Group believes it is important to keep our clients and real estate appraisers informed about real estate trends. As you consult with your customers, this information could be helpful. Which home upgrades result in the cost of the project equaling or exceeding the increase in the market value of the home? REALTORS® in… Read more »

The Necessity of a Commercial Engagement Letter

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A commercial engagement letter is a written agreement to perform services in exchange for compensation. Engagement letters are traditionally used by certain professional service firms, particularly in the fields of finance, accounting, law, real estate appraisal and consulting in order to define the specifics of the business relationship, or in the case of an appraisal… Read more »

The Importance of a Qualified Review Appraiser

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An appraisal review can be a technical review, desk review, or field review of an appraisal by an experienced, competent, qualified review appraiser. Since an appraisal review is a key quality control element in the credit or risk decision process, the importance of having an experienced, qualified, and knowledgeable appraiser performing reviews cannot be overemphasized…. Read more »

Fee Simple Estate vs. Leased Fee Estate

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Valuation Management Group’s Real Estate Appraisal Reviewers often encounter what appears to be a common misunderstanding about which portion of an estate should be valued when a client and/or intended user request an appraisal report: the Fee Simple Estate or the Leased Fee Estate. Based upon the definitions from the Dictionary of Real Estate Appraisal… Read more »

To Text or Not to Text: Keeping a Personal Touch

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Valuation Management Group received a recent call from one of our clients expressing concern that their borrower was contacted by the appraiser via a text message and not with a phone call. The client’s concern was that a phone call should have been made first, as a text message was perceived by their client as… Read more »

USDA Requires Home Inspection

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Tony Hernandez, the Administrator of Housing and Community who facilitates programs of the United States Department of Agriculture Rural Development (USDA), distributed a recent memorandum informing state directors that the USDA will begin requiring whole house inspections on existing dwellings. The USDA – Section 502 Direct Loan Program requires all loan applicants to obtain and… Read more »

Valuation Management Group Team, Sweet Soles, Participated in JDRF Walk

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Valuation Management Group participated in the JDRF One Walk on October 17th in Downtown Atlanta, GA. This was our 5th year to fundraise and participate in the event, and we raised a total of $13,400.00, which will assist in finding a cure for Type One Diabetes. It was a team effort with fifty four employees… Read more »

Valuation Management Group Discusses HUD and FHA Guidelines

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Valuation Management Group is sure that clients and appraisers alike who are currently involved in originating FHA loans and completing appraisals for such loans are aware of the new guidelines, but we like to make it a practice to share industry changes that potentially affect all of our partners. The most important thing to note… Read more »

Valuation Management Group Participates in Juvenile Diabetes Research Foundation (JDRF) Walk as Team Sweet Soles

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This year marks the 5th year Valuation Management Group will be participating in the JDRF walk as the team known as SWEET SOLES! Each year the mission is the same: To bring awareness to Type 1 diabetes (T1D) and to help raise money for a cure. FACTS – Did you know that… 29 million people… Read more »