All You Need to Know Regarding Renting Versus Buying a Home

What do you charge for an Appraisal?

As the Residential Real Estate season begins, we’d like to provide this public service post regarding the most common question we get as Appraisers: What do you charge for an Appraisal?

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Home Buyers Remorse -What Their Redo Would Be Like

Recent Homebuyers Divulge What They Would Change If They could have Do-Over, Research Shows.

  • 39 percent would change size, price or neighborhood.
  • 56 percent wish they knew more about the financial aspects.
  • Recent buyers would do more homework to make critical choices if they had a second chance.
  • Although nine of every ten buyers felt prepared when they bought their home, in hindsight, 56 percent wish they were provided with more knowledge- especially:
  • The ins and outs of closing on the house – 22 percent
  • Making the offer and negotiating –19 percent.
  • Financing a home – 15 percent
    Buyer’s post-experienced that there are many challenges and acknowledge there are areas for improvement, like:
  • Locating and financing a new home.
  • Affordability and home value Upfront costs.
  • Mortgage lending, and the paperwork process for a smooth transaction.
  • Essential tips for the first-time and a self-employed buyer.
  • How to negotiate the price of a house.
  • Be aware of a differing neighborhood along with size, and price data and historical trends
  • Overall, respondents stated it cost more than expected.
  • 80 percent of buyers considered their home move-in ready, but in reality, 76 percent have to or are planning to renovate the home now.
  • 66 percent of recent homebuyers sought advice from real estate agents, while 45 percent turned to banks, mortgage bankers and loan officers.

Contact us for a custom Scope of work for you and your family. info@treasplc.com

 

Source:http://www.businesswire.com/news/home/20140429006147/en/Homebuyers-Divulge-Change-Do-Over-Chase-Research-Shows#.U2OSKvldV8F

https://treasplc.com – What Buyers would redo if they could

Home Buyers-Your Lender Wants an Algorithm to Appraise Your Home

[et_pb_section][et_pb_row][et_pb_column type=”4_4″][et_pb_text] Currently, the terms “Artificial Intelligence,” and “Algorithms” have been sold to the masses as being objective, scientific and unfortunately accurate. What has been sold to us, is and has been, merely a marketing trick to intimidate consumers with accepting algorithms as gospel. A lot can go wrong when collectively, we put blind faith in big data. If Fannie Mae and Freddie Mac now allow ‘Algorithms’ be the ‘Decider’ and not human appraisers for your next Home Loan – Then is it not logical that the laws be updated and enacted to properly reflect and acknowledge that the programmers and their Bosses who’ve signed off on them by holding them to the same level of accountability as both the Licensed and State Certified Real Estate Appraisers? Algorithms are everywhere. They sort and separate the winners from the losers. The winners get the job or a good credit card offer. The losers don’t even get an interview, or they pay more for insurance. We’re being scored with secret formulas that we don’t understand that often don’t have systems of appeal. That begs the question: What if the algorithms are wrong? To build an algorithm, you need two things: you need data, what happened in the past, and a definition of success, the goal that you’re looking for and often hoping to repeat. You train an algorithm by looking, figuring out. The algorithm figures out what’s associated with success. What situation leads to success? Algorithm’s; Artificial Intelligence are 21st-century machines. They require a human being to function. Therefore algorithm/A.I., cannot usurp the human mind. A machine can solve only “deterministic” problems. New data/information would be a surprise. A “deterministic algorithm” is an algorithm which, given a particular input, will always produce the same output, with the underlying machine always passing through the same sequence of states.” The second type: “nondeterministic algorithms” are often used to find an approximation to a solution, when the exact answer would be too costly to obtain using a deterministic one. A nondeterministic algorithm represents a single path stemming into many routes, some of which may arrive at the same output and some of which may arrive at different outputs.
  • However, both are just machines and require a human being to function.
  • Machines do not think
  • Computers lack creativity
  • Devices lack consciousness
  • Only human consciousness produces thinking.
Who are these human oracles from the Banks and their Coders programming these algorithms? What are their goals, their biases, responsibilities, and accountability? In an industry that has multiple regulatory requirements, how do they fly so low under the radar?  [/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]