There is a major change happening to
real estate appraisals that every agent
needs to know about right now.
Effective August 31st all conventional
appraisals must use a brand new
standardized form — and it is going
to affect how you list properties
how values are determined how repairs
are called out and how long appraisals
take to complete.
This week Nikki Erickson from Kevnik
Mortgage breaks down everything you
need to know before your next listing
or purchase agreement.
This week we are covering:
✅ Interest rate update — mid to upper
sixes with some perspective on
how far rates have actually come
✅ The brand new appraisal form
required for all conventional
loans as of August 31st
✅ One standardized form for all
property types — condo single
family investment property —
what that means for you
✅ Goodbye gross living area — the
new breakdown of above grade
below grade and non-standard
finished square footage
✅ Why your MLS square footage
accuracy is more critical
than ever right now
✅ Condition ratings C1 to C6 —
now applied room by room not
just to the overall property
✅ How a remodeled kitchen can
now be rated separately and
actually help your listing's
value
✅ Sales comparison adjustments —
more standardized and more
transparent than ever before
✅ ADUs outbuildings and unique
property features — finally
counted properly in valuations
✅ Repairs and deficiencies —
appraisers must now specify
exactly what needs to be fixed
with unlimited photos and
detailed descriptions
✅ AI reading appraisals — what
Fannie Mae is doing right now
to review appraisal forms
✅ Why appraisals will temporarily
cost $60 to $100 more and
what to tell your clients
✅ The timeline — conventional
now FHA VA and rural housing
coming within six months
If you have active listings or
purchase agreements right now
give yourself an extra five to
six days for appraisals until
appraisers get comfortable with
the new form.
This is the kind of information
that separates the agents who
know what is happening from
the agents who find out when
it affects their deal.
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📞 Connect with Nikki Erickson at Kevnik Mortgage:
📱 Call or Text: 952-484-1584
📧 Email: nikki@kevnikgroup.com
📘 Facebook | TikTok | Instagram:
@mortgagesfrommntoaz
00:00 Introduction – Market Update
Week of August 25th
01:00 Interest Rate Update – Mid to
Upper Sixes and Rate Perspective
02:30 MAJOR CHANGE – Brand New
Appraisal Form Required August 31st
04:00 One Standard Form for All
Property Types – What That Means
06:00 Goodbye Gross Living Area –
The New Square Footage Breakdown
08:00 Below Grade vs Basement –
Why Your MLS Accuracy Matters Now More Than Ever
10:00 Condition Ratings C1 to C6 –
Now Room by Room Not Just Overall
12:30 Sales Comparison Adjustments –
More Standardized and More Transparent
14:30 ADUs Outbuildings and Unique
Features – Finally Counted Properly
16:30 Repairs and Deficiencies –
No More Guessing What Needs to Be Fixed
19:00 AI Reading Appraisals – What
Fannie and Freddie Are Doing Right Now
21:00 Appraisals Will Cost More
Temporarily – What to Tell Your Clients
22:30 Timeline – Conventional Now
FHA VA and Rural Housing Coming
23:30 How to Reach Nikki Erickson
at Kevnik Mortgage
#realestate #lender #mortgagerates
Now's The Time - no matter where you are, where you have been, or your current results - By becoming more aware and following a process, you can have whatever it is you truly desire!
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With Gratitude -
Angie Gerber
angiegerber@gmail.com
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