appraiser: Would you like to be an appraiser? - 11/01/12 01:37 AM
I am not sure if this means better days are ahead for appraisers.  A recent article on the AppraisalScoop.com website entitled "AMCs: Prepare for Appraisal System to Change, Fees to Rise" (http://bit.ly/U0Q88C ) highlighted the changes coming to the appraisal industry.
I was asked the other day by someone working at a home I was appraising, "How can I get into the appraisal business?" I told her, you'd make more money WITHOUT an appraiser's license since you won't be bound to the same liability I am! Get a sales license with a broker, and work in other areas of the industry (sales, management, … (2 comments)

appraiser: Mortgage Fraud The Easy Way - 11/23/11 12:19 AM
I love Rachel Dollar and the Mortgage Fraud Blog!  It is amazing to see the lengths people will go to steal and defraud!
This latest article drives home the point I often hear in appraisal forums and continuing education classes that, "mortgage fraud would be impossible without a complicit, corrupt appraiser".   And this is true. Note the story in this weeks "Perp Walk" newsletter:   He admittedly purchased, along with others, a residential property but failed to disclose to the mortgage lender that US Appraisal had handled the appraisal.   Mortgage Fraud Blog - Appraiser Admits Role in Mortgage Fraud … (3 comments)

appraiser: Trends Tell The Story - Even if folks don't believe it - 02/12/10 10:36 AM
Here in central Florida, things have been rough for the last couple of years! 
We saw the "boom" of 2004-2006 and the "bust" of 2007-2009.   Many cities in Florida are still in a massive "over supply" situation with continued declines in home prices.
However, not all markets are the same.  In each appraisal report I write, I routinely compile trend analysis for a radius of similar homes around the home being appraised.  In this case, condominiums in the Disney tourist area along US 192.
Even with 16 years of appraisal experience, it is still tough to call a market "stable" or … (2 comments)

appraiser: Are sellers being realistic yet? - 11/13/08 06:33 AM
I read a news story from MSNBC indicating the reality now setting in on many sellers in the market.  You can read the story at http://www.msnbc.msn.com/id/27648884?GT1=43001
One statement was made by a Florida seller, "We lost close to $100,000 in equity so we were walking away from real money."
First - is it "real money" or "not yet realized" money.  For homeowners who purchased a home in 1st quarter 2007, their actual value vs their purchase price is likely MUCH lower in the present market.  THEY have lost REAL money.
But if you bought a home in 2003, and gained $150,000 … (30 comments)

appraiser: Is your appraiser giving you the whole story? - 08/27/08 05:04 AM
I recently complete an appraisal for an FHA refinance for a client.  While at the home, the customer gave me a copy of his appraisal from when he purchased the home in 2006.  The customer was fully prepared that home values in the Orlando market have certainly declined - but I was mostly surprised by what I saw in his appraisal report from the time he purchased the home!What I found was that the home was originally appraised by a trainee appraiser under supervision of a Certified Residential appraiser.  The supervisor indicated that he did not inspect the home and only … (0 comments)

 
Richard D. Ferris, Florida State Certified (FHA) Appraiser (AmcAppraisalsinc.com) Rainmaker large

Richard D. Ferris

Florida State Certified (FHA) Appraiser

Clermont, FL

More about me…

AmcAppraisalsinc.com

Address: 10535 Summit Lakes Ln, Clermont, FL, 34711

Mobile: 407-801-9933

Office: ​313-877-1807

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