appraisers: I'm back to vent....are they better then us?
- 06/15/09 10:55 AM
OK - I am back! Why else....to vent about how this industry is DRIVING ME CRAZY! What, is everyone a better appraiser then me? By "everyone" - I mean those that review our deals...like a broker, realtor or some random reviewer who sits in a desk in a far far away place :) It seems these past two weeks I have been flooded with similar QA issues in my deals. They go something like: Appraiser to provide two better sales that closed within 90 days and that have equal bedroom, bath count and close in gla. Are they kidding!! I feel like … (13 comments)
appraisers: I'm back to vent about the new 1004MC form!
- 04/08/09 02:39 AM
Well, now that the April 1st deadline has come and gone...the new form is in full swing. I do believe however that this form is a huge waste of time! After reading the form instructions, and taking a training course online....it is my understanding that the form will only deal with comparable properties to that of the subject. Therefore, if you have a 3 bedroom ranch, then you should only post closed sales and listings of 3 bedroom ranches (a perfect world right!)... But now I see some of the software out there has come up with auto-generated statistics based on … (8 comments)
appraisers: Will you increase your fee when we are required to add the new MC form?
- 01/19/09 09:40 AM
Someone raised the question.....but no one answered... Will you increase your appraisal fee when we are required to add the new 1004MC form to the mix? While I understand a lot of you out there already compile this information for your report...now that we have to take the time to complete yet another form, will you raise your fee? I think if we all band together (gasp!) to agree to an industry norm...Well, I dream I know... … (6 comments)
appraisers: FannieMae New Form Requirement as of 4/09
- 11/21/08 02:04 AM
I need to vent... I read in a blog that some appraisers "are nothing but form fillers" and while I did not want to believe it....it irks me that this must obviously be true! Effective April 2009 we will be required to add the Market Conditions Addendum (Form 1004MC) to all residential one-to-four unit properties. YES! ANOTHER FORM! I have not used this form to date - so this was my first glimpse. First off - any appraiser that is writing a quality report in this profession already does all of this (all of what is on the form, I do now)...but now we have … (2 comments)
appraisers: Real Estate Ethics Question
- 10/05/08 12:49 AM
I wanted some feedback regarding purchasing a property...and I thought I would throw it out there... When you are looking for homes...typically you have a Realtor. Well, what happens if you are taken to look at a home of interest. You make an offer through said broker and it is denied. Now, you continue looking for a while...with still nothing exciting - except that first house you put an offer on. However, you come to find out that since you were shown the home, it has changed Realtors and is now listed as an exclusive. What is the protocol here? Do you … (12 comments)
appraisers: How are appraisers handling time adjustments, if at all?
- 08/22/08 06:37 AM
As an appraiser on Long Island, market values have come down over the past year or so. I was wondering how other appraisers analyze time adjustments for appraisal reports? And how do brokers view this? When I am looking at the current closed comparable sales (I stay within six months when possible - or obviously newer is better!)....compared to current comparable listings- I see that using the sales comparison approach only would produce higher values in the area. If for example, three houses sold that are similar to mine from $350-400K...But there are five or six listings at $300-350K....I have to use time … (13 comments)
appraisers: ATTENTION ALL APPRAISERS.....
- 06/07/08 11:38 AM
I appraise in a small firm...and I am curious as to other appraisers outlook on the changes that will be taking place in the industry come 2009. Many of our large bank clients already use appraisal services through AMC's....so there will be no big changes in that area. However, our small mortgage firms have not made any changes, or any announcements to make drastic changes on their appraisal ordering practices in the near future. Most of them are more concerned with the slowdown of work in the Long Island, NY area.... Are any appraisers experiencing the same situations? What are your smaller … (3 comments)
appraisers: Fellow Appraisers...Feedback on current changes?
- 06/06/08 02:05 AM
I appraise in a small firm...and I am curious as to other appraisers outlook on the changes that will be taking place in the industry come 2009. Many of our large bank clients already use appraisal services through AMC's....so there will be no big changes in that area. However, our small mortgage firms have not made any changes, or any announcements to make drastic changes on their appraisal ordering practices in the near future. Most of them are more concerned with the slowdown of work in the Long Island, NY area.... Are any appraisers experiencing the same situations? What are your smaller … (2 comments)
OK - I am back! Why else....to vent about how this industry is DRIVING ME CRAZY!;)
;)
