Just read a fellow Active Rain Members Blog about BPO vs Appraisers - This was my response (Below) which I hope generates a whole nother branch of thought for people.  Her question was should Brokers and Agents be paid for BPO's and whether the law stating banks could no longer higher appraisers be supported.   ............:

Interesting - I am in Florida and do BPO's.  We do not do appraisals, however a current market analysis of the subject property based on a long list of items - which does not include a professional inspection and include such things as electric, plumbing, roofing ect.  - however does include square footage, size of lots, amenities included, location, number of buildings, usage, zoning, data from tax records ect. and pictures of the subject properties.  This does give a basis of comparison - adjustments may be made to show where the market is.  Using sold properties from the last 3 months, pending sales and current actives a analysis will extrapolate where the price points in the market are.  Oh, by the way - research as to market factors, environment factors of location and general market conditions are also taken into account.  The amount of time and research is significant.

This is an REO market currently and one of the factors in my opinion were that the appraisers did work for the banks.  Here is Sarasota we have gone from an inflated price point to some of the steepest losses in equity to the point that many homeowners are in foreclosure and walking away.

In one example I know where the bank appraiser appraised the home at 250K in dec 2005 and a CMA today shows that house would most likely sit on the market as houses around it sell for 50K to 80K -  I believe 200,000 to be a significant loss - do you?  Location does impact as does what your neighbor's properties go for.

1. I do BPO's and do not take listings at all from the banks.

2. A BPO does not take the place of a home inspection by a qualified engineer.

3. Banks seem to not want to take responsibility for their part in the housing .....debacle. Yet their hands are out to the government for decisions they made that led to it. Hmmmmm

I Think it should be an at arms length whether it is a BPO or an Appraisal. 

My Association uses GE Supra Key's - I just found out today that GE outsources its customer service to India.  Where does your electronic key company out source too?

In today's American Economic condition I believe that outsourcing jobs to other countries is wrong.  I do not care if it is cheaper.  We are at 10% unemployment in this country, lets ship more of the jobs overseas. 

I am calling for a voluntary boycott by Realtors of any tool provided by a company that does not use American's for ANY and EVERY job function/position in the company. 

Happy New Year - I know, I know its March 2 already.  I have not been actively posting here on Active Rain.  Alot of that because I have been concentrating on switching gears and thoughts.  Here I am in one of the paradise towns of SW Florida with all of these excellent investments being put on the MLS and no buyers. 

So I got a job where I get paid to show up 40 hours a week.  I still put 40 hours into the R/E, but I am still not getting paid for it.  I don't like working 9 - 5, but in this economy you do what you have to do.  Working a strictly structured 40 hour week has certainly brought me into the reality that the Middle Class worker is disappearing along with middle class families buying homes.

I am doing BPO's for Sarasota and Manatee Counties - and it is amazing to me the amount of sellers with houses listed for over 400 days that will not move on thier price points. 

Anyway continued good luck to all you out there selling and buying in this market.  Visualize on.

2009 is approaching rapidly - and I am going over my game plan for the year.  So far I have a lot of what I will do, not that this is a resolution list, but rather a confirming list.

I will increase spiritualality, networking opportunities, and dedication to blogging. 

I will continue to contribute to the collaboration of a childrens book, go to Master Mind and be involved in the Law of Attraction Secret group. 

I will start Nia classes Jan 6th, (anyone in SW Florida interested visit www.michelesoriginal.com ) and learn how to put my body into some sort of condition.  This Nia yoga and meditation will be ongoing fixtures in my life that I commit too.

I will contribute to a blog every morning.

I will learn to listen more closely to my family, friends and customers.

I will be responsive to those who ask for help and those that do not.

I will have fun.

I will remember to be grateful on a daily basis and speak that gratitude out loud and in writing.

I will bless myself with my parents company.

I will strive to the hightest and best for myself and those around me in all aspects of my life including Real Estate BPO's, consultations, and sales.

I was recently thanked for being consistant in showing up at meetings - I attend a Law of Attraction Course and a Master Mind course with this person.  My first thought was  Hmm - a compliment or not - predictable, stable or needy and dependent?  Or was the person just noticing that I was a component of thier life that they recognized as being around alot? Could it be, they were just noticing that they themselves were consistent in attending these meetings?

Now I am thinking about what consistancy is.  Being dependable - I see that as part of it.  Another is finding resources (notice source contained in that word) that I can tap into and know there will be a positive outcome.  Another is repeating over and over (which on the surface sounds boring) an action that brings positive rewards.  If you consistantly send out a message and it is the same message - people will respond.  Being consistant in your attitude allows people to know you as a person.

So if your intent is to be positive and have a positive affect then be consistant in sending out postitive.

Hmmmmmmmm.  Being consistant is a compliment.

Recieved an email about Sarasota Taxes and thought I would share my reply:

Taxes - What I can do is give you the link to the Tax Appraisers Offce for Sarasota County.  They have a great explanation on how taxes are calculated and how Sarasota Couny appraises for taxes in Sarastoa. 

Click this link (Or copy and paste if linking has been disabled):

 http://www.sarasotataxcollector.com/PROPERTYTAX_PAGES/PT_GeneralInfo.htm

 This will give you an overivew on property taxes in the county (which Siesta is part of) and you will be able to follow this link to the milage pdf download for 2007 millage rates.

Note that these may change yearly so you should check each tax year.

 http://www.sarasotataxcollector.com/Documents/2007millages.pdf

 Another site you will want to visit to do your due diligence is the Sarasota Property Appraisers Office. Jim Tedora is currently the county appraiser - has been for a number of years.  This link will also lead you to information on the Homestead Law and how it would effect you as an owner of property here in Sarasota - the site is full of information.

Following the theme of manifestation.  I have been invited to an Emerald Evening in the Sarasota Rosemary District.  Cool.  Basically its a stroll through a neighborhood with some of the oldest frame, authentic Florida homes.  A majority of these buildings have been here since at least the 1920's, 30's and 40'. 

But don't think the houses themselves are old, many have been made young again.  Just about all have been rehabed and made pristine in the last five years as the affluent art lovers moved into the area. This is a great area to stroll with lush overhead canopy overhead much of the time.

There will be outdoor music, and a scavenger hunt for the invited to participate in.  This sounds so much like fun!  Thirty local artists and vendors will have stalls and offerings ( I am reading the invitation).  There will be "new age" thinkers and music by Brian Boyd. 

And I think.... what a great way to get viewers to come to your open houses - you see much of Rosemary Court District are artists studios and upscale galleries with several properties for sale.  Sotheby's apparently organized this.  What a great idea!  And fun!

Sarasota Sales have slowed for June, however pending sales shows an increase in sales:

 FROM SAR

The Sarasota MLS saw a slight dip in sales for June 2008 compared to the previous month, and home prices continued to normalize as the local market entered the slower summer sales season.

Overall sales stood at 559 in June - still one of the highest months for sales during the past year, but lower than the May total of 627 sales. Single family home sales in June 2008 stood at 411, matching the level from June 2007. But condominium sales dropped to 148 from the previous year's total of 186. Sales had been increasing each month in 2008 prior to the June dip, from 329 in January to 627 in May.

Single Family and Condo Sales

Inventory levels were lower in June 2008 for the fourth consecutive month, and are the lowest they have been since February 2006.   There are 9,108 single family and 4,765 condos listed, buyers continue to enjoy an abundant selection of more affordably priced housing to review and purchase.  

The reduced inventory has resulted from a combination of fewer new properties being listed, and higher sales numbers. As the inventory continues to decline, the market will return to a more historical balance. And as the market approaches equilibrium, the buyer's market we've been experiencing will vanish, and price appreciation will return to the market.

 Gillespie Park was a non deed restricted nieghborhood with a voluntary home owners association. Yesterday Sarasota City commisioners voted to restrict parking in front yards of homes in that nieghborhood and demand that cars be parked in the street.

1. Why should the commision have ANY right to dictate to the property owners whether or not they should park in thier own yards?

2. While I agree that it will make the appearance of the homes to be more "groomed" it seems to be a basic infringment on the property owners. After all, they moved into a non deed restricted area so they did not have to deal with unfair arbitrary community decisions about thier property - the property they own - the property they hold mortgage and deeds on.

3. How many of the cars that will be parked in the street will be vandalized and broken into? I know that when I have to park my vehicle in the street I am a nervous wreck all night that it will be side swiped. Will the commisioners re-inburse insurance claims and pay for vehicles damaged while parked on the street? - after all they are the ones forcing people to park there.

4. I heard on the Channel 6 Local news this morning one commissioner say that they hoped it would slow traffic through the area - and all I could think was - build a speed bump, post some slow down signs, or hey how about doing a traffic sting and giving speeding tickets in the neighborhood.

I can only see this decision as a reduction in property owners rights and an arbitrary unfair act.

There are foreclosures oall over the city of Sarasota Real estate list prices being in the 90K range to the 156 range.  One of the "strange" things I have noticed is that majority of the foreclosures only have one bathroom.  Do you think there is any correlation between one bath homes and foreclosures? lol

Seriousely its getting to the point where I am going - omg that house sold for 300K last year and the bank has it on the market for 150K - wow.  I have also noted that so many of the Sarasota foreclosures have been stripped of appliances such as washer and dryers, stoves and fridges.  These are replacemet costs the buyers will have to deal with.  Banks will not replace or reduce price based on these items.  In some cases those having to leave have ripped out walls and/or torn up carpets. Buyers should be aware that a majority of these foreclosure homes that are in that price range are TLC and handyman specials. 

Becuase I noticed that I did a search  of foreclosures where the banks are asing 200K - 300K - .......still majority appear to be TLC.  300 - 400 - huh only one foreclosure listed in the MLS popped up in this search range, nice - hardwood floors, 3/2  caged pool, nice shade trees and curb appeal hmmm.  Lake Estates  - community pool, tennis courts. I like it.  400 - 500k - 1 listed in the mls - gorgeous granite counters, what appear to be cherrywood cabinets, two fireplaces, 2 wetbars, pool, over 1/2 an acre...very nice at 499K.  Interesting only 2 higher end homes foreclosed?

All of these that I looked at are bank owned. All require proof of funds or qulification letter from a bank.  Interesting also is the fact that Countrywide appears to own the majority of the foreclosures on the MLS.  hmm  Does anyone know what percentage a bank can own in real property/real estate?