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Big changes are on the horizon for residential real estate appraisals. With new guidelines from Fannie Mae and Freddie Mac, appraisers must now provide more detailed market area analyses, utilize standardized definitions for "Neighborhood" and "Market Area," and illustrate time adjustments with data-backed methodologies. These updates, effective February 2025, emphasize transparency and consistency, reshaping how appraisers document market trends and value conclusions.

The conversation surrounding appraisal bias is often clouded by accusations rather than substantiated evidence. While some claim that bias is prevalent in property valuations, it is crucial to recognize that systemic proof remains elusive. Most complaints stem from appraisers hired by appraisal management companies (AMCs), which frequently opt for the cheapest options, potentially leading to inconsistencies and incompetence. Rather than relying on automated valuation models (AVMs) as a solution, we must hold the appraisal profession to higher standards and address the real issues at play.

Are you tired of opening your property tax bill only to find it higher than you expected? You’re not alone! Many homeowners face inflated tax assessments due to outdated information or errors in property records. The good news is that you can take action with a real estate appraisal specifically for tax appeal purposes. By obtaining a professional appraisal, you gain the insights needed to challenge inaccuracies, save money, and understand your property’s true value. Whether your home has been incorrectly assessed or you want to ensure you’re not overpaying, an appraisal can be a valuable tool in your tax appeal journey.