Baton Rouge Real Estate News

A Flip Video Hat Cam Mount For Real Estate Use

William D. Cobb FHA Home Appraiser (Accurate Valuations Group) — Fri, 04 Dec 2009 06:11:44 -0600

http://www.realestateappraisertips.info/ - Finally, A Flip Video Hat Cam For Real Estate Video Use...and many other uses. As an avid user of the Flip Video HD Cam, I made a special trip to the local Denham Springs Bass Pro Shops to check out the Epic Stealth Cam pak because it had a small video cam mounted on a "hat clip". It looked interesting, but I just wasn't sure of the video quality. And, I already have 2 Flip Video Cams, an older Ultra and newer Mino HD. So, I began searching online and finally ran across "HatCams", see photo below.

Randy Peterson, avid hunter, fisherman and sportman from Wallingford CT, developed the "HatCam" so he could record video of his outings. Soon, his invention began to catch on and now there are several HatCam YouTube Video Channels of customers posting their videos made while wearing the HatCam.

However, I began thinking of the many other uses of the "HatCams" for Real Estate, such as for Real Estate Investors, Real Estate Agents During A Video Shoot, Appraisers, Video Bloggers, Home Inspectors, etc.. This will certainly be useful to me as a real estate video marketer. Find out more about Real Estate Flip Video HatCams Here! Join HatCams Fanpage on Facebook here! And, Follow HatCams on Twitter here!

I'm curious to find out if the HatCam will work with my heavier Flip Mino HD with Wide Angle Lens Adapter!

How Do You Handle "Shadow Inventory"?: Real Estate Appraisers Video Tip Of The Day

William D. Cobb FHA Home Appraiser (Accurate Valuations Group) — Fri, 04 Dec 2009 05:35:09 -0600

http://www.realestateappraisertips.info/ - 12/03/2009 Home Appraisers Video Tip Of The Day and Question: How Do You Handle Shadow Inventory? Your Comments Needed! The Tip Is: At Least Attempt To Report On Your Local "Shadow Inventory"! Have you read fellow home appraiser, Michael Tarabotto, article on "The Landmines Within? If you haven't, you really need to.....today! Michael, from California, delivered a very detailed analysis that revealed that up to 70% of present foreclosures are not listed in the MLS. In my opinion, this is a HUGE factor for home appraisers to deal with in their reports! In our home appraisals, what do we as home appraisers do with the local Sheriff Sales and Short Sales taking? Generally, they're not reported in our local MLS. They're really not quantiable (countable, not easily anyway). But, they are out there!

What about all of the FNMA 2055 Exterior Only Pre-Foreclosure Appraisals some of you are performing from time-to-time....maybe since 2008? When these do go to foreclosure, as much as 70% of these will never make it into the MLS. So, how do you quantify them? How do you report on them within your reports? To add to your analysis, Have you compared the number of homes currently for sale as compared to the number of homes sold in your market YTD? Here are my local numbers from Realtor/Broker, Tony Zito: Active 12/2/09-3623 Pending 12/2/09-850 this is down 17% from last month and I have not seen this number that low since I have been tracking the numbers for almost 2 years. Sold: November 09-508 November 08-380 November 07-604 November 06-691 November 05-806 November 04-652 One method I use in my 1004MC is to add this statement: "SMART MLS Analysis showed only X REO sales out of X total comparable sales since 1/1/2007, or X% of Total Competing Submarket Sales, which (does or doesn't ) appear to be an indication REOs are negatively impacting this market. It's also stated here that a recent Active Rain article (The Landmines Within by Michael Tarabotto http://activerain.com/blogsview/930436/the-landmines-within ) stated that as much as 70% of REOs never make it into the MLS - Meaning that it might be impossible to know or state the exact # of competing REOs if they're not being listed. MLS is reporting X comparable REO listings." Shadow Inventory. I don't have time in this short tip to get into the technical definition of shadow inventory. When I refer to shadow inventory, I'm referring to Pre-Foreclosures and Short Sales not listed in MLS (not easily quantifiable) and the excessive number of homes currently for sale, higher than the actual number of homes that have historically sold in a market in a given year. On 9/30/2009, Henry Blodget wrote: "Massive "Shadow Inventory" Overhang Will Keep Pressure On House Prices" with those below showing just how enormous the problem.

Real Estate Appraisers Video Tip Of The Day 11/28/2009: Using Jing Video Capture To Communicate More Effectively

William D. Cobb FHA Home Appraiser (Accurate Valuations Group) — Sat, 28 Nov 2009 19:35:37 -0600

http://www.realestateappraisertips.info/ - Real Estate Appraisers Video Tip Of The Day 11/28/2009: Using Jing Video Capture To Communicate More Effectively Jing is a video screen capture application that can be very useful for appraisers wanting to upgrade their method of communications with their clients. Video is most helpful in communicating your message and it's never been easier to do so online. In fact, there are several "FREE" services for doing so - Jing and Screenr are 2 of them. Jing allows one to make a screen capture video of up to 5 minutes in length and upload that video to their servers and providing one a link to email to clients for them to view your video. Or, you can send that video to YouTube or download it.

What are the applications for Real Estate Appraisers? Explaining adjustments to underwriters! Explaining in video format a complicated or challenging appraisal assignment by aerial views. Training your secretary how to collect data for a certain assignment or method for specific types of appraisal assignments. Sending in bugs with your appraisal software. Explaining a process to all of your appraisal trainees at one time with a simple video sent to them each via video. HAVE ANY OTHER USES FOR SCREEN CAST VIDEO FOR APPRAISERS? PLEASE ADD A COMMENT BELOW AND LET US ALL KNOW ABOUT IT! Below is a Snagit image of today's Techsmith newsletter showing how Dawn Sadler saved 20 hours and 10 gallons of gas using Jing. By making short videos that she could just email the online links to those she was training. If she were training 10 different clients in 10 different locations, she just eliminated the need to commute to all 10 locations. PLUS, the video link can be stored for later use when one forgets the "how-to" of that process.

Here's How Jing Displays Your Video Library:

House Appraiser's Tip Of The Day 11/27/2009: Hamp Thomas' 8 Video Series On Solving Square Footage Puzzle

William D. Cobb FHA Home Appraiser (Accurate Valuations Group) — Sat, 28 Nov 2009 19:33:30 -0600

http://www.realestateappraisertips.info/ - Home Appraiser's Tip Of The Day 11/27/2009: Watch Hamp Thomas' 8 Video Series On Solving The Square Footage Puzzle Hamp Says, "Part of the "Solving the Square Footage Puzzle" series, this session discusses the details of the American Measurement Standard. What is it? Who is it for? Can it really help to protect agents and their clients from square footage liability? Find out how the AMS is changing the language of real estate. One method agents and appraisers can agree on." This Is Video #8 - The American Measurement Standard-Real Estate Method. Check out Hamp's YouTube Video Channel for his other videos within his series here! Hamp's website is: http://www.howtomeasureahouse.com/ . Also, connect with Hamp Thomas on Facebook

Real Estate Appraisers Tip Of The Day 11/26/09: Why is online video marketing crucial in today’s marketplace?

William D. Cobb FHA Home Appraiser (Accurate Valuations Group) — Sat, 28 Nov 2009 19:31:35 -0600

http://www.realestateappraisertips.info/ - Real Estate Appraisers Tip Of The Day 11/26/09: Why is online video marketing crucial in today’s marketplace? REELSEO is reporting on YouTube and Video Optimization: SES Chicago Preview. Feature speaker is Greg Jarboe, Video SEO expert and author of “YouTube Marketing – an Hour a Day”. Click on the SES Chicago Preview to read the article. In the online viral video marketing arena, Greg's "brand" is what the Apple iPhone is to mobile PDA industry. Here's a snippet: "There are more videos watched a month, than there are searches conducted on all of the search engines. Today, everyone has got it sort of figured out that in terms of SEM or SEO, they’ve got to do it. What they totally miss is while that’s huge, and essential… video is even bigger.

Video optimitization is one of the first steps to being successful at what I’m going to call, “video marketing.” The first step is this: you have to get discovered. Now that’s hard, because there’s more than 20 hours of new video uploaded every minute. Life would be easy if you had no competition, but there’s a ton of competition. So the first step is to do some keyword research – make sure that those relevant terms are in your title and summary and/or description, and in your tags. Because if you aren’t found, nothing else good can happen."

(Bill Cobb holding his copy of Greg's Book - A Really Early Morning Photo in Casual) About Greg Jarboe from Search Engine Strategies Dot Com: "Greg Jarboe is the president and co-founder of SEO-PR, a search engine optimization firm, public relations agency, and video production company. Founded in 2003, SEO-PR has won a Golden Ruler Award from the Institute for Public Relations and PR News, and was a finalist for SES Awards in three categories: best social media marketing campaign, best B2B search marketing campaign, and best integration of search with other media. Greg is a frequent speaker at Search Engine Strategies and is the news search, blog search, and PR correspondent for the search engine marketing news blog at Search Engine Watch. He is regarded as a pioneer and leading authority on online publicity and is a member of the Market Motive faculty. He is writing a book, YouTube and Video Marketing: An Hour A Day, which will be published in August by Wiley." Visit The Real Estate Appraiser Tips YouTube Video Channel. When there, please login and subscribe to the Channel and rate a video. Thank you for your time! NEED HELP ON YOUR REAL ESTATE APPRAISER VIDEO MARKETING? Check Out Bill Cobb's http://www.appraiservideomarketing.com , which will officially open on 1/1/2010. Bill has over 150 appraiser videos on YouTube, Viddler and other Video Sharing Sites. It's been said online by Richard Day that Bill owns several pages of Google Search Pages for his appraiser videos made to date.

Video Tip Of The Day 11/25/09 Real Estate Appraisers: Working With Folders To Archive Workfile Data

William D. Cobb FHA Home Appraiser (Accurate Valuations Group) — Sat, 28 Nov 2009 19:27:56 -0600

http://www.realestateappraisertips.info/ - Real Estate Appraisal Video Tip Of The Day 11/25/09: Real Estate Appraiser Tips Working With Folders To Archive Workfile Data Working with folders by Year To Archive Workfile Data such as Purchase Agreements, Photos, Maps, Legal News, Land Sales Support, etc.. If you make a pdf of your MLS sales used, insert that into your folder. After completing your appraisal pdf, insert that into your appraisal folder and you have a complete, archived work file. I do want to make it clear that my personal goal is not to run a 100% paperless office, that I'm not a part of this "green" movement, but do find it very helpful to use folders in cataloging my appraisal reports and associated attachments, images and the final report.

Greater Baton Rouge In Top Ten Housing Markets For Third Quarter 2009

William D. Cobb FHA Home Appraiser (Accurate Valuations Group) — Sat, 28 Nov 2009 19:20:07 -0600

http://www.batonrougerealestateappraisal.com/ - Greater Baton Rouge In Top Ten Housing Markets For Third Quarter 2009

Local Market Monitor Announces Release of Third Quarter Home Price For Largest US Markets, article here! Here's a snippet: "According to the forecast, among the largest US markets—identified as those with populations greater than 600,000—the 10 markets with the best expected performance in home price are: Baton Rouge, LA Buffalo-Niagara Falls, NY Columbia, SC Dallas-Plano-Irving, TX Fort Worth-Arlington, TX Houston-Sugar Land-Baytown, TX Little Rock-North Little Rock-Conway, AR Omaha-Council Bluffs, NE-IA Pittsburgh, PA San Antonio, TX Syracuse, NY These top markets, where home values are expected to remain level, are among those markets that did not have a big housing boom and have had relatively small job losses over the past year. Home prices in these areas are generally below the US average and reflect where the recession has so far had a relatively mild impact. Dallas, San Antonio and Omaha have all experienced a 1.6 percent job loss over the past year, and jobs have actually increased in Baton Rouge."

Dutchtown FHA Appraisers Report On Geismar's Old Mill Subdivision

William D. Cobb FHA Home Appraiser (Accurate Valuations Group) — Tue, 24 Nov 2009 07:33:35 -0600

http://www.ascensionrealestateappraisers.com/ - Geismar Dutchtown FHA Appraisers Report On Old Mill Subdivision A market analysis of solds from 8/1/2008 to 11/23/2009 within Old Mill Subdivision shows an overall median sales price decline of -3.58% on what appears to be low volume. However, the Listing Price To Sales Price Ratio still remains high or favorable at 100% of listing price. The chart below represents solds from 1/1/2007 to 11/23/2009. According to the Old Mill HOA Website, " Old Mill is located in one of Ascension Parish's most convenient areas, just 20 miles south of Baton Rouge, Louisiana and 60 miles north of New Orleans, Louisiana. Old Mill is a short drive from numerous services, entertainment centers and a wide choice of shopping including nearby Tanger Outlet Mall and The Mall of Louisiana. With a rural community feel, the "Dutchtown" area is also well recognized for the outstanding quality of its schools including Dutchtown Primary, Dutchtown Middle and Dutchtown High (Go Griffins!). Key points of interest near Old Mill include beautiful Spanish Lake as well as several antebellum homes including the famous Houmas House and Oak Alley homes. A short drive away and you can either be living it up in the Big Easy or meeting friends for dinner in Baton Rouge. With Old Mill's easy access to I-10, the choice is yours!"

1004MC of Old Mill Itself

Home Appraisers Tip Of The Day 11/24/09: Building Your "Trust Agent Identity" With Your Local Public By Reporting On Local Market Trends....thereby building "Trust"!

William D. Cobb FHA Home Appraiser (Accurate Valuations Group) — Mon, 23 Nov 2009 22:57:37 -0600

http://www.realestateappraisertips.info/ - Home Appraisers Tip Of The Day 11/24/09: Building Your "Trust Agent Identity" With Your Local Public By Reporting On Local Market Trends....thereby building "Trust"! The Trust Agents concept is borrowed from Chris Brogan's New Book: "Trust Agents: Using The Web To Build Influence, Improve Reputation, And Earn Trust". Here's a recent post I published: Baton Rouge Real Estate: Springlake At Bluebonnet Highlands New Home Construction Sales Raise 2009 Median Sales Price

Chart #1 includes ALL solds from November 2008 to November 2009 YTD indicating a +7.36% increase in median sales price. ALL home sales includes both new home construction sales and existing home sales.

Chart #2 includes ONLY solds of existing homes from November 2008 to November 2009 YTD indicating a -0.66% decline in median sales price.

Current Listings. Currently, there are 29 listings within Springlake, from $196,900 up to $288,900. Of these listings, 15 are new construction and 14 are existing homes. The Average Listing Price is $238,655, Average Listing Price Per Sq. Ft. is $139.56/sf, Median Listing Price $239,500 and Average Days On Market 104 days. FSBOBR.com indicates 11 more current listings in Springlake from $198,000 up to $265,900. Assuming the 11 FSBOBR.com listings are not listed in MLS, that would total 40 current listings in Springlake, which would appear to be an oversupply and possibly the reason that the existing median sales price basically didn't increase from 11/2008 to 11/2009.

Four Easy Ways To Keep Updated On Real Estate Appraiser Tips Site Updates

William D. Cobb FHA Home Appraiser (Accurate Valuations Group) — Sat, 21 Nov 2009 21:23:21 -0600

http://www.realestateappraisertips.info/ - There are 4 Easy Ways To Keep Updated On Real Estate Appraiser Tips Updates Below. What Is Real Estate Appraiser Tips? Real Estate Appraiser Tips | Home Appraiser Tips! is an information blog covering real estate appraiser related news and tips on these topics stated below. This site is operated by Bill Cobb, CREA, a full time residential real estate appraiser in the Greater Baton Rouge Market. Bill can be reached at 225.953.0638 @ appraisertips@gmail.com Some Topics Covered Include: Appraiser Tips On:

#1.) Via Email Updates In Your Inbox

#2.) Via RSS

#3.) On Twitter

Connect Here: @appraisertips

#4.) On Facebook, Become A Fan Of Real Estate Appraiser Tips

http://www.facebook.com/pages/Real-Estate-Appraiser-Tips/193717748328

FHA Appraisers Denham Springs Report On South Point Subdivision Statistics For 2009 Based On Both Average and Median Sales and Listing Prices.

William D. Cobb FHA Home Appraiser (Accurate Valuations Group) — Sat, 21 Nov 2009 21:14:23 -0600

http://www.southpointappraiser.com/ - FHA Appraisers Denham Springs Report On South Point Subdivision Statistics For 2009 Based On Both Average and Median Sales and Listing Prices. South Point Subdivision is a single-family dwelling subdivision, located off of La. Hwy. 16 South. Just five miles from the Denham Springs exit off of I-12 or three miles from the Juban Road exit. South Point Subdivision is conveniently located outside of Denham Springs’ city limits, providing a feel of country living with the benefit of amenities and services available only minutes down the road. Within all phases, South Point totals approx. 645 homes. The original builder was PCC Homes until PCC sold the remaining lots to DR Horton Gulf Coast shortly after Hurricane Katrina.

AVERAGE SALES & LISTING PRICES FROM 11/2008 to 11/2009:

MEDIAN SALES & LISTING PRICES FROM 11/2008 to 11/2009:

Real Estate Appraisers: Go iLawn Assists In Aerial Home Measuring

William D. Cobb FHA Home Appraiser (Accurate Valuations Group) — Tue, 17 Nov 2009 03:12:17 -0600

http://www.realestateappraisertips.info/ - Real Estate Appraiser Tips: Go iLawn Assists In Aerial Home Measuring

Go iLawn is an online measuring service that combines aerial photographs with measuring tools. Quickly and accurately measure square footage, linear distance, height and more! http://www.goilawn.com/ Watch this short video below by clicking on the video image!

Real Estate Appraiser Applications?

1.) FNMA 2055 Exterior Only Assignments

2.) GSE Assignments For Non-Lender Portfolio Valuation Work

What States & Counties Do They Cover? The Answer Is Here!

Go iLawn GIS Dynamics Covers My Market

How Much? Pay-As-You-Go and Pre-Pay.

Pay-As-You-Go $1.79 per use Up To 100. From their site: "With the Pay As You Go program you only pay for the number of transactions used during the month. The per address transaction rate decreases as number of transactions increase."

Pre-Pay. It would appear that their best price for appraisers would be the 100 for $139.00 or $1.39 per use. It would seem to me that $1.39 per use on a $200 drive-by assignment where there is no MLS history of subject verification would be money well spent. From their site, "Access to Go iLawn is available for purchase in transaction buckets, with bucket sizes ranging from small to large quantities. The larger the address bucket size, the more you save. Directional transactions are purchased in addition to address transactions."

Real Estate Appraiser's Social Networking Tips For The BIG 3 YouTube Facebook & Twitter

William D. Cobb FHA Home Appraiser (Accurate Valuations Group) — Tue, 17 Nov 2009 02:58:08 -0600

http://www.realestateappraisertips.info/ - Real Estate Appraiser's Social Networking Tips For The BIG 3 YouTube Facebook & Twitter In 2006, I was introduced to Email Ideas and began using these FREE "BOJO" versions below of html email signatures. It wasn't until early 2009 that I discovered how effective BOJO might be with Social Media Links for connecting to others. APPRAISER'S MARKETING VIA SOCIAL MEDIA: The BIG 3 In Social Networking are: YouTube, Facebook and Twitter.....AND Yes, you should care. As you can see from my email sig ABOVE, people receiving my emails can click on my YouTube Channel, Connect With Me On Facebook or Follow Me On Twitter! AND, they can also view my Online Video Business Card, which is a very reasonably priced website with video, client testimonials, appraisal order form, etc.. FREE versus PAID. On the FREE versions, you get their ad(s) to the side of your email signature. To get rid of the ad(s), you need to purchase their premium signature at $169.50/year. The FREE version gives one: Unlimited Updates, Bojo Image Hosting, Member Center Access, Statistics On Clicks/Views and Installation Support. With PAID, you can Sell Your Ad Space To Advertisers In Your Area, Promote Your Business, Recruit Employees, Champion A Cause OR Have No Ad At All. INSTALLATION. Installation of the html coded signature can be either easy or complex depending on the email software you're using. In Microsoft Outlook, it's a fairly easy installation. I switched to Incredimail Premium in 2003 and it can be quite difficult an installation. Once I figured the Incredimail installation, I sent them my instructions and the owner of Email Ideas sent me a fine looking thank you note with $5.00 Star Bucks Gift Card. So, my experience has been a very positive one!

Social Media Marketing For Real Estate Appraisers – Using Twitter & Facebook to Grow Your Business and Maintain Relationships

William D. Cobb FHA Home Appraiser (Accurate Valuations Group) — Tue, 17 Nov 2009 02:35:57 -0600

http://www.realestateappraisertips.info/ - Social Media Marketing For Real Estate Appraisers - Using Twitter & Facebook to Grow Your Business and Maintain Relationships

David Bayer has written an excellent article on Socia Media Marketing I wanted to share with Home Appraisers. The link is here. And, here's a few short snippets from David's article:

Social Media Acceptance. "Social media marketing is here to stay" could very well be chalked up as the understatement of the year. Social media marketing has been on the rise for the past several years. Unfortunately, many small businesses, corporations, and independent freelancers have been slow to get on board the social networking train."

Facebook. "If you're in business and not on Facebookyet, you should really ask yourself why. Facebook is the boy wonder of social marketing. A site that started as a side project/hobby for a couple of Harvard guys now has over 200 million users and ranks as the number one visited site in the world. Everyone from the small business owner to corporate giants is realizing the viral power of Facebook to drive traffic to their websites and connect with new clients."

Twitter. "Twitter is a lot like Facebook, stripped down to the basic necessities. The question Twitter poses to its users is simply, "What are you doing?" You can literally begin using Twitter (or tweeting) after a simple sign-up, the upload of a profile picture, a short bio write up, and maybe a background design to match your corporate presence. The essence of Twitter? Find out what's new with others, and share what's going on with you. Twitter, like all social networking platforms, can be used solely for recreational purposes, but it has huge potential for smart businesses."

Enjoy! Bill Cobb, Appraiser delivering Real Estate Appraisers That Help Appraisers Work Harder On Their Business Than Within Their Business! Follow Appraiser Tips on Twitter@appraisertips

Home Appraiser AMC Tip: StreetLinks Has Added Lenders, May Need More Appraisers

William D. Cobb FHA Home Appraiser (Accurate Valuations Group) — Tue, 17 Nov 2009 02:31:03 -0600

http://www.realestateappraisertips.info/ - Home Appraiser AMC Tip: StreetLinks Has Added Lenders in 2009, Meaning They'll Need More Appraisers

According to Kansas City Business Journal and Appraisal Scoop, Street Links National Appraisal Services has added lender clients. Click on the Kansas City link above to read the full article. Here's a snippet:

"The company said it plans use its cash on hand to develop new businesses such as StreetLinks National Appraisal Services LLC and Advent Financial Services LLC, which provides refund-anticipation loans and related services to low- and moderate-income customers.

"Management believes that StreetLinks is situated to take advantage of growth opportunities in the residential appraisal management business," NovaStar said in the filing. "We have added significant new customers for StreetLinks during 2009, which have produced significant increases in revenue for StreetLinks during 2009."

So, Today's Tip is to apply to http://www.streetlinks.com/ if you're looking for another AMC to apply to.

Real Estate Appaiser Tip Of The Day 11/16/09: Follow AppraiserHelp On Twitter

William D. Cobb FHA Home Appraiser (Accurate Valuations Group) — Tue, 17 Nov 2009 02:17:36 -0600

http://www.realestateappraisertips.info/ - Real Estate Appaiser Tip Of The Day 11/16/2009: Follow AppraiserHelp On Twitter

Bill Collins with www.appraiserhelp.com offers value in his tweets, see below and I enjoy reviewing them each day. Bill also offers these sites below. I enjoy receiving Bill's Appraiser News Email Newsletters, subscribe @ http://www.appraisernews.com/. Appraiser News is a weekly newsletter for real estate appraisers. It is our goal to keep appraisers informed of important developments in the industry, as well as offer tips and other support to help manage through these difficult times.

A recent AppraiserNews update includes this snippet:

"Will the Last Appraiser to Leave Please Remember to Close the Door?

While there has been a lot said about the large number of appraisers removed from the FHA roster, it appears as though many appraisers are leaving the business entirely. The following link to the ASC Notice of State Disciplinary Actions and Appraiser Expirations (Public) is from one day at the end of last month. Granted, this number (almost 1,200appraisers) is not typical; but it does make you think... Spreadsheet of Appraiser Expirations "

www.FHAAppraisers.com
www.TaxGrievanceAppraisers.com
www.FHARoster.com
www.AppraiserNews.com
www.AppraiserHelp.com
www.EndBPOsNow.com

Home Appraisers Tip Of The Day 11/17/09: Visit Rachel Dollar’s Mortgage Fraud Blog Often

William D. Cobb FHA Home Appraiser (Accurate Valuations Group) — Tue, 17 Nov 2009 01:58:10 -0600

http://www.realestateappraisertips.info/ - Home Appraisers Tip Of The Day 11/17/09: Visit Rachel Dollar's Mortgage Fraud Blog Often

Today's Tip is to visit Rachel Dollar's http://www.mortgagefraudblog.com/often. I first became acquainted with Rachel's blog when a fellow home appraiser in Atlanta, GA, Jayme Kortman, experienced "Appraiser Identity Theft". I'll be blogging about that topic later this month. It was Rachel's blog that informed me of Jayme's experience and reminded me to take precautions in my own appraisal practice to help avoid Appraiser ID Theft.

About Mortgage Fraud Blog and Rachel Dollar:

Mortgage Fraud Blog is the premier website for news and information on mortgage fraud and real estate fraud throughout the United States.

Rachel Dollar, the editor of Mortgage Fraud Blog, is an attorney and Certified Mortgage Banker who handles litigation for lending institutions and secondary market investors. She is an author and a nationally recognized speaker on the topic of mortgage fraud. Ms. Dollar is a shareholder with the law firm of Smith Dollar, PC, is licensed to practice law in California and maintains offices in Santa Rosa, California.

Follow Rachel Dollar, the "FraudDiva" on Twitter, Click Below

Real Estate Appraiser Tips Tip Of The Day On http://www.realestateappraisertips.info/

William D. Cobb FHA Home Appraiser (Accurate Valuations Group) — Tue, 17 Nov 2009 01:51:00 -0600

http://www.realestateappraisertips.info/ - Real Estate Appraiser Tips Tip Of The Day On http://www.realestateappraisertips.info/

Not Just Industry News - Tips For Working Harder On Your Business Than In Your Business!

Real Estate Appraiser Tips | Home Appraiser Tips! is an information blog covering real estate appraiser related news and tips on these topics stated below. This site is operated by Bill Cobb, CREA, a full time residential real estate appraiser in the Greater Baton Rouge Market. Bill can be reached at 225.953.0638 @ appraisertips@gmail.com

Topics Covered On The Blog Include:

Appraiser Tips On:

If There Are More Appraiser Members Of NAR Than Of Appraisal Institute or All Appraisal Organizations, Then What Does This Mean?

William D. Cobb FHA Home Appraiser (Accurate Valuations Group) — Tue, 17 Nov 2009 01:36:54 -0600

http://www.realestateappraisertips.info/ - If There Are More Appraiser Members Of NAR Than Of Appraisal Institute or All Appraisal Organizations, Then What Does This Mean?

First, Please follow Bud Hunsucker @uspap on Twitter. Bud also runs the CompuTaught in Atlanta providing Online Appraisal Education Nationally. I plan on enrolling in CompuTaught for my last class needed in 2009.

This morning I found this interesting tweet from Bud, "More Appraisers members of NAR than of the App Institute, or all the other appraisal organizations combined!" There is no link to click within the tweet to find out more.

My question is this: What's the relevance of this statement? Please don't take me wrong as I am not criticizing Bud at all as he's going somewhere with this statement and so am I. First, is there more appraiser members of NAR because our local MLS Boards force appraisers to join both them and NAR for MLS Access, thereby making us pay NAR approx. $400/year for membership and the local board about $35/month for MLS Access? Or is it that the NAR's "Appraisal Section" has more members than all combined? I think not. I did a quick search for "RAAs" with NAR's Appraisal Section and found that there are only 6 in AL, 7 in LA and 27 in TX. For Appraisal Institute (A.I.) SRAs, there are 56 in AL, 70 in LA and 338 in TX. So, the answer would be no, there isn't more NAR Appraisal Section appraisers than A.I. appraisers.

Should we as appraisers be looking to NAR as our "Appraisal Organization"? Especially since we're already paying them $400/year for membership, about the same dues A.I. members pay.....except A.I. members have to pay $400 twice to A.I. and NAR. After all, NAR is the lobby on Capital Hill helping to keep the appraisal orders flowing in the appaiser's direction.

But, would it be a conflict of interest for the NAR to be our appraisal organization? Isn't that kind of like letting the fox in the appraiser's hen house? Bye Bye Appraiser Independence! After all, the purpose of HVCC was to create a buffer between Appraisers and Realtors® and Appraisers and Lenders.

Organization...or the lack thereof. I think what Bud is trying to accomplish is to get appraisers thinking more about organizing, especially since their lack of organization and infighting amongst themselves, as a whole, has led to them to having very little representation....not near the representation of the NAR. No, I am not saying that our Organizations and States have just sat on the rear-ends on appraiser representation. R. Wayne Pugh, MAI, in Baton Rouge and past President of A.I., did help residential appraisers during his recent term as President and also helped author and pass the Louisiana AMC Regulation Bill, one of the first states to do so. During his Presidency, he also held a monthly breakfast with the Louisiana Chapter of A.I. to keep them updated. I know this because my dad, William F. Cobb, MAI, attended those breakfasts.

Valuation 2009's Message To Appraisers: Organize, Period! Part of the message at Valuation 2009 was that appraisers must organize to survive, PERIOD! How do we accomplish this? Do we merge all organizations into One or Two Major Appraisal Organizations? Your Thoughts and/or Opinions?

So, what's the "Real Estate Appraiser Tip", Bill? Find A Way To Organize! Get Involved in directing your appraisal future! Join A Respected and influential Appraisal Organization!

So, I am applauding Bud Hunsucker for helping us to think about this topic! Be sure to follow @uspap on Twitter.

A Simple Fix for the HVCC

William D. Cobb FHA Home Appraiser (Accurate Valuations Group) — Tue, 11 Aug 2009 05:57:48 -0500

http://www.realestateappraisertips.info/ - Dave Towne: A Simple Fix for the HVCC

A Simple Fix for the HVCC

Unintended consequences of the HVCC agreement has come close to decimating the appraisal industry, and many in mortgage lending. The fix is simple, and easily implemented by Cuomo, FannieMae and FreddieMac and the other regulators. I can be done in just a few weeks.

The simple fix is to require a personally signed (digital signature permitted) appraisal order form which contains a mandated certification and compliance statement approved by FannieMae, FreddieMac and Cuomo, with the license number of the signer, which states the individual (not the ‘company’) who ordered the appraisal has not influenced the appraiser in any way to compromise the appraiser’s independence in the reporting of the Opinion of Market Value.

The new order form’s certification and compliance statement should be similar to items in the USPAP Ethics Rule, Management Section (Pg. U-8).

This new order form should be required no matter who places the appraisal order, and who ultimately funds the mortgage loan, or insures the loan. It should not be limited to only FannieMae/FreddieMac use, as the HVCC is now. The order form should also clearly state that a ‘reconsideration of value’ is not permitted once the original signed appraisal report is submitted.

By putting individuals who order appraisals on the same legal playing field as appraisers, the direct placement of appraisals by Mortgage Brokers, Loan Officers, Real Estate Agents and others can be re-implemented. Using a signed order form, with an approved certification and compliance statement, means that former industry business relationships can be re-established. Secondary ‘middlemen’ will not be needed.

Appraiser decimation has occurred due to 5% of the HVCC that is not based on existing appraisal independence policies codified in requirements of FHFA, OCC, FannieMae, FreddieMac, HUD/FHA, FRS, NCUA, FDIC, and OTS. Appraiser decimation is reaching epidemic proportions. The 5% has caused a major disruption in what was a reasonably efficient appraisal ordering process prior to May 1, 2009. As a result of this disruption, many competent, highly skilled and experienced appraisers are leaving the industry. These are the people we need to keep gainfully employed to provide accurate appraisals. And many mortgage lending people have been unfairly impacted.

Some will say this can’t work. Well, the HVCC is not working reliably either. It has caused more negative impacts than the problem it was intended to solve. 95% of the HVCC is based on existing regulations and policies. So it can’t be ‘postponed’ as some are suggesting. It can’t be ended in its entirety due to the aforementioned agency guidelines that apply to all segments of the mortgage lending business. But we can’t restore the former ‘status quo’ either when the appraiser was subject to influence. So what’s left is to modify the 5% that is causing the most problem by using a signed order form that says the appraiser is hired to value a property without any interference by members of the ‘production’ side of the business.

This can work if enough appraisers, mortgage brokers, loan officers and others begin to work together to solve a serious problem. You can help by forwarding this suggestion to everyone in the industry, congressional representatives, regulatory agencies and even Mr. Cuomo.

Dave Towne, Certified Residential RE Appraiser, WA State

Yes, I do have permission to publish Dave's article as I'm helping him syndicate it. Bill Cobb, Appraiser

Realtor.org Releases Tips To Keep Appraisal Issues From Stopping Your Deals...This Home Appraiser Has Some Tips As Well

William D. Cobb FHA Home Appraiser (Accurate Valuations Group) — Fri, 07 Aug 2009 01:58:25 -0500

http://www.realestateappraisertips.info/ - Realtor.org Releases Tips To Keep Appraisal Issues From Stopping Your Deals...This Home Appraiser Has Some Tips As Well.

Here's This Home Appraiser's Tips To Keep Appraisal Issues From Stopping Your Deals:

1.) Apply "Declining Markets Adjustments" To Price Your Listings Accurately......The Appraiser Will. Why Are Appraisers Applying "Declining Markets Adjustments" to their sold comps, per National Appraisal and Lender Guidelines, and some Agents don't even know that "Declining Markets Adjustments" exist? I was reading here recently on Active Rain about Agents that are shocked by "Low Appraisals", some because of this new term, "Declining Markets Adjustments". On 8/3/2009, Active Rain sent out this national email: "Under Appraisals! The Next Shoe To Drop?". In this post, Dean Moss, describes what seems to be a new phenomenon and says, "In the average neighborhood of Chicago, our Team has seen appraisers apply a one-percent depreciation factor per month to their appraisal reports. So, for example, a house appraising for $200,000 on May 1st, would now, theoretically, value at $197,000! " Why is this a new phenomenon to some Agents? Haven't some housing markets been declining now for almost 1.5 to 2 years? Did you just expect the appraisers to ignore obvious market trends and not apply "Declining Markets Adjustments"? Why is there a disconnect between Agents and Appraisers on this such obvious issue? I mean, if one looks at the housing market chart below, prepared from MLS data that both the Agent and Appraiser both have access to, one can clearly see the steep dropoff of pricing since 8/2008. Yet, there are still Agents out there that will price their listing as if it were the year 2007 or 2008. And, some of these Agents are the ones crying foul or "Low Appraisal" when it's obvious that some ignored the declining market when applying that listing price.

FNMA 1004 MC. This Chart above is what appraisers use to complete the new Fannie Mae Form 1004MC, effective 4/1/2009. The "Low Appraisals" Issue didn't begin with HVCC. It began with the 1004MC. The 1004MC provides numerous "sub-market" trends, those solds and listings that are actually comparable to the subject property, as opposed to general trends, which could be rosier and more broad. The 1004MC provides such trends as months supply of housing on the market, listing to sales price ratio, absorption rate, total comp sales and listings within past 12 months and opens the eyes of the appraiser regarding the prevalence or lack of seller paid concessions. For instance, the S.M.A.R.T. Appraiser software I use breaks seller paid concessions down into Percentage of Sales With Contributions and Percentage of Contribution To Sale. When both seller paid concessions and percentage of contribution to sales reach near 100%, then I know there is extreme seller motivation or duress in that market. THIS IS WHY I HAVE STATED: An 18-Month Moratorium Of HVCC Isn't Going To Entirely Solve The Low Appraisals Issue. Both Appraisers AND Agents must be truthful and responsible in defining market trends and pricing accordingly.

2.) If About Half Of US Mortgages Will Be Underwater By 2011, then shouldn't Agents be more realistic in their listing prices, be more clued in as to the perhaps declining markets they serve? The Lending Market Is. Reuters Just Released: "About Half Of US Mortgages Underwater By 2011", see here. The article states: "NEW YORK (Reuters) - The percentage of U.S. homeowners who owe more than their house is worth will nearly double to 48 percent in 2011 from 26 percent at the end of March, portending another blow to the housing market, Deutsche Bank said on Wednesday." "Home price declines will have their biggest impact on prime "conforming" loans that meet underwriting and size guidelines of Fannie Mae and Freddie Mac, the bank said in a report. Prime conforming loans make up two-thirds of mortgages, and are typically less risky because of stringent requirements."

3.) Don't Price The Listing Based On The Seller's Price Or What The Seller Wants Just To Get The Listing.....Price The Listing Based On Solid Recently Sold Comps And Pending Listings Adjusted To Local Listing-To-Sales-Price-Ratios. And, have those comps in your listing workfile. I can't tell you how many times, PRE HVCC when appraisers were able to call Agents after the appraisal inspection, when I would be appraising a purchase where I needed to find out the comps used to market the home that high. Instead of reaching into their workfile, the Agents would get on the computer and send me an MLS CMA of 10 active listings (not pendings) and 6 sold comps, which had sold over 6 months ago and some were 500sf smaller in living area size, but matched the listing prices price per sq. ft. (not by any stretch of the imagination an apples-to-apples comparison). By them sending me a current MLS CMA from that day (the date is on the printout), I knew some of them had not done their homework and how much weight to give to their method of pricing.....not much. Appraisers know when the Agent priced just to get the listing as opposed to pricing based on market support.

4.) Don't Just Run A Simple MLS CMA And Think You've Done Your Sellers or Buyers A Great Service. Deduct 100% Of Seller Paid Concessions From Each Sold Comp You Use......because the appraiser will to bring the sales price to "Cash Equivalency". If you use a comp that sold for $299,900 having 2,500sf living area with $9,000 in seller paid concessions, then deduct that $9,000 for a net sales price for that comp of $290,900 and base your listing price on that $290,900, not the $299,900 reported in MLS. The appraiser will deduct that $9,000 as well to bring the transaction to "cash equivalency". The true sold price per sq. ft. is $116.36/sf, not $119.60/sf.

If you're using Pending Listings as comparable indicators, then apply the local Listing To Sales Price Ratio to that Pending Listing Price........because the appraiser will as well.....we're required to. Say you're using 1 pending listing in the same subdivision, listed at $305,445 and in that market, there is a solid 95% Listing-To-Sales-Price-Ratio. What do you do? Responsibly, you would apply the 95% to the current listing price of $305,445 to arrive at support of $290,173. Get that number or support and then if you know that market is going to ask for some closing cost, adjust upward some. But beware that appraisers are deducting seller paid concessions to arrive at cash equivalency. MLS systems across the U.S. don't deduct for seller paid concessions, so when Agents run their MLS CMAs in markets where seller paid concessions are prevalent, then the CMA results are usually over-inflated.

5.) To Avoid Low Appraisal Issues, Actually Physically Measure The Home You're Being Paid 6% +/- To Represent. Then, own and use a sketching software that calculates the accurate living area and provide your seller with that sketch. There have been deals this year that had to re-negotiated all because the Agent just didn't bother to measure the home they were representing....or the agent just chose to copy the previous mls sheet. One deal appraised $20,000 less than P.A. all because the Agent failed to measure the home. This was a $500K+ deal where the Agent was making a $30,000 fee at 6%. Do you think the Sellers were not upset with the Agent by losing out on that $20,000 and having to pay the Agent $30,000 for mis-representation? Probably So. The buyer was ecstatic. If appraisers are paid between $225 to $300 now AFTER HVCC (appraisal fees are about 30% lower now because of HVCC and advent of using AMCs - appraisal management companies) and are required to submit a sketch of the home, then why aren't Agents required to do the same as part of the profession BEFORE REPRESENTATION OF THE HOME AND A PURCHASE AGREEMENT IS WRITTEN when they are paid 6% +/- of the sales price. If the average home sells for say, $225,000, that's a 13,500 fee. If you asked the average seller if they thought that they should receive an accurate sketch of their home as part of the $13,500 fee, they would overwhelming say yes. If you asked the seller if it was OK for the appraiser to perform an appraisal of their home but just not bother with measuring the home, what do you think the average seller's answer would be? See the disconnect here.

JUST FOR THE RECORD HERE!

MANY PROFESSIONALS IN OPERATION. I believe that in any home sale transaction, there are several "Real Estate Professionals" at work - the Listing Agent, Selling Agent, Lender, Home Inspector, Appraiser and Title Company. I believe that if after my appraisal inspection of the home, I'm coming in below the sales price, I should be able to communicate with the Listing Agent to find out exactly what was used to market the home, what comps I'm missing or may have overlooked. My understanding is that HVCC now prevents this communication with the Listing Agent, AFTER the initial home appraisal inspection. However, when setting up the initial appraisal inspection with Listing Agent, I have my staff ask for the comps used to market the property and document this in the workfile. If the Agents don't want to provide these comps and then later complain that I didn't give them professional courtesy, I pull out the workfile and remind them of when I asked for the comps upfront. The Hint Here: When The Appraiser Calls For The Initial Inspection Of Your Listing, Provide Them With Any Extraordinary Features Of The Home And Your Comps From Your Workfile.

HVCC. This Appraiser wasn't for the passage of HVCC, which has resulted in appraisal ordering through AMCs, resulting in "Low Appraisals" in some cases, 30% +/- Lower Appraisal Fees For Home Appraisers And The Use Of Out-Of-Town Or In-Experienced Appraisers That Don't Know YOUR Local Housing Market. This Appraiser didn't need the touted "Appraiser Independence" that HVCC was supposed to be bestow on appraisers as I didn't bow to the pressure. I fired the mortgage brokers that pressured and worked for the lenders that did not. YES, I clearly understand that HVCC has it's problems. Yes, mortgage underwriting that requires comps that sold within 3 months and within 1 mile of subject isn't always realistic or logical. But, from my tips above, one can see that HVCC isn't entirely to blame for the "Low Appraisals" issue as this issue begins with the initial listing price and whether that price is realistic based on a 1.5 to 2 year history of some declining markets, supportable and RESPONSIBLE. Responsible could apply to those statements on the MLS Sheets like, "Measurements Not Warranted By Realtor or Broker". If the Agent or Broker aren't responsible for the initial presentation of the listing's facts, at say $150/sf, then who is? The appraiser that later on after the P.A. has been written discovers that home is actually 200sf smaller in size and then the P.A. has to be re-negotiated? Agent-Due-Diligence has a part to play here.

Prairieville Louisiana 70769 Real Estate News, Housing Trends, Home Prices, Appraiser Market Studies...

William D. Cobb FHA Home Appraiser (Accurate Valuations Group) — Fri, 31 Jul 2009 03:46:24 -0500

http://www.ascensionrealestateappraisers.com/ - Prairieville Louisiana 70769 Real Estate News, Housing Trends, Home Prices, Appraiser Market Studies...

Manchac Commons Appraiser Housing Market Study

Solds from 01/01/2008 to 12/31/2008 revealed:
Average Sales Price: $232,247
Average Sold Price Per Sq. Ft.: $112.70
Median Sold Price: $239,900
Average # of Days On Market: 56
# of Sales: 16
Average Sq. Ft.: 2,073sf

Solds from 01/01/2009 to 07/31/2009 reveals:
Average Sales Price: $227,538
Average Sold Price Per Sq. Ft.: $110.70
Median Sold Price: $227,000
Average # of Days On Market: 238
# of Sales: 7
Average Sq. Ft.: 2,083sf

Therefore, based on the median sale price barometer (the barometer used by the NAR National Association of Realtors) within Subdivision, the market direction appears to be declining since 2008. Average Sales Price has declined -$4,709 or -2.03%. Median Sales Price has declined -$12,900 or -5.38%. Average Sold Price Per Sq. Ft. has declined -$2.00/sf or -1.77%.

A further S.M.A.R.T. Analysis of the Manchac Commons data since 8/1/2008 to 7/31/2009 reveals a -13.45% Decline

New Kodak Pocket Flip Style "HD" Camcorder With EXTERNAL MIC JACK $179.95 AND Why You As A Real Estate Professional Should Care!

William D. Cobb FHA Home Appraiser (Accurate Valuations Group) — Thu, 30 Jul 2009 04:29:24 -0500

New Kodak Pocket Flip Style "HD" Camcorder With EXTERNAL MIC JACK $179.00 AND Why You Should Care!

There's a new review out on this new "Flip" style camcorder. "HD" quality in these small devices is nothing new as the FLIP Mino HD has been out for a while now.....I own one and love it:

What is so spectacular about this new Kodak Zi8 is it's the first truly pocket cam with an EXTERNAL Mic Jack (Yes, I know about Aiptek). Up until now, the FLIP style camcorder has RULED the landscape because of it's superior builtin mic quality. However, high quality video requires high quality sound and that's something most of these have a challenge with - the FLIP having the highest quality sound without a built in External Mic Jack.

Why Should You As A Real Estate Professional Care? Well, if you use video in your online marketing or on your website(s), video interviews of local professionals is helpful to the audience base you're trying to build. Here's an example below of Jeremy interviewing Virginia Real Estate Appraiser, Leslie Frantz, on the changes within the Appraisal Industry (Nov 1 2008). While the interview is creative (a good idea), when they sit down and begin talking the sound quality is not, making me almost not want to watch the entire video. This is why a small HD camcorder (good quality) with a built in external mic jack would produce a better quality sounding video that viewers can actually hear well and want to watch all the way through.

The link to the Kodak Zi8 Review is here: http://www.crunchgear.com/2009/07/29/kodak-outs-the-1080p-zi8-pocket-camcorder/

If You Want To View An External Mic Jack Test Video, Watch Below. The Illustration I want to show reader is at approximately 2:30 into the video:

Baton Rouge Townhome and Condo Market Still Faces Challenges in 2009

William D. Cobb FHA Home Appraiser (Accurate Valuations Group) — Tue, 21 Jul 2009 09:29:47 -0500

http://www.batonrougerealestateappraisers.net/ - Greater Baton Rouge Townhome and Condo Market Still Faces Challenges in 2009

I recently performed an appraisal in the gated townhome development, Bromley Townhomes in Baton Rouge 70810, which was further evidence to me that the Post Katrina Very High Pricing and overbuilding of Condos and Townhomes (not to mention too many condo conversions) across Greater Baton Rouge will take some time to absorb and correct. And, the correction is not pretty.

Bromley Towhomes is an upscale, gated townhome development within 1/2 mile of Perkins Rowe where in 2004 to 2006, new 2 bedroom 1,460sf units sold between $189,500 up to $204,900. Legal News records show that resales of the same units have been from $150,000 up to $175,000. In fact, the differences in resale prices were -23%, -12%, -17% and -11%. The unit appraised was valued at only 79% of original sales price. Marketing time periods for these resales was from 80 days up to 899 days on the market. And, there are 2 listings that have been on the market since mid 2008, one of these listings is finally pending after the price was reduced to $160,000. If it sells at 97% List-To-Sales-Price-Ratio, it will sell for $155,200, a difference of -21% off original price. Specifically for these 1,460sf 2 bedroom Bromley Townhomes, a "SMART Appraiser Software" FNMA 1004 MC (market conditions) Study, a much more narrow "Sub-Market" study, showed declining market values of -5.44% since 7/2008, an 8.4 month supply of competing listings and between 29 to 45 competing listings.

A recent search in MLS Areas 52, 53, 61, 62 shows a total of 620 current listings (active, contingent or pending) of Townhomes and Condos - certainly a large number that will take some time to absorb. With some short sales of attached units taking place in this market, it's an opportunity for investors to buy low hoping to seller higher in the years to come.

CAUTION........When Purchasing A Condo Or Townhome!

Notes Of Caution Before Purchasing In Any Condo Or Townhome Development

1.) Make Sure The Managing Agency Is Well Intact (that the development is managed well with a good paper trail).

2.) That ALL Association Dues Are Fully Paid (Review The "Current" Budget with a real estate professional that understands and can interpret). Make sure there are ample reserves built up to handle the development into the future. This is brought up to help explain that appraisers across the U.S. are being educated and directed to request documentation on Condo AND Townhome budgets and that IF the budgets are not satisfactory or not funded adequately, to discount the value(s) in those developments. And, my experience has been that these are the developments with some short sale activity - absentee owners not paying their dues. This is a major problem in the overbuilt markets like the State of Florida.

3.) Just because the listing price is lower than the 2006 offering price doesn't necessarily make it a good deal in 2009. The chart below shows a -10.25% decline in sales prices/market value and represents 955 attached 2 bedroom sales from 1/1/2006 to July 2009, from $100,000 to $200,000 in MLS Areas 52, 53, 61 and 62. Also note that it took 3.5 years to absorb these 955 units or 273 units per year. With 620 units on the market, a portion priced higher than $200,000, it could take 2.5 to 3 years to absorb these excess units. AND, this doesn't include the large number of units taken off the market that are now rentals because they couldn't be sold. Again, check out the management and current budget before taking the plunge.

Author's Bio:

Bill Cobb, CREA, is Greater Baton Rouge's favorite and most reputable home appraiser frequently called upon by banks, homeowners, and savvy real estate investors to assess property values. A home appraiser with 18 years experience, Bill Cobb brings a wealth of knowledge to the table as a home appraiser.

Bill's company, Accurate Valuations Home Appraisal Group, serves Greater Baton Rouge (East Baton Rouge Parish, West Baton Rouge Parish, Western Livingston Parish and Northern Ascension Parish).

Contact Bill Cobb and Accurate Valuations Home Appraisal Group for your next home appraisal:

Office: 225-293-1500, Cell: 225-953-0638

Fax: 1-866-663-6065

fastvalue2@cox.net

http://www.batonrougerealestateappraisal.com

Will Cap & Trade 'Green' Turn To RED For Home Appraisers?

William D. Cobb FHA Home Appraiser (Accurate Valuations Group) — Thu, 09 Jul 2009 04:42:13 -0500

http://www.realestateappraisertips.info/ - Will Cap & Trade 'Green' Turn To RED For Home Appraisers?

Washington Appraiser, Dave Towne, Asks A Good Question Here!

Appraisers.........

At present, there are very few specifics known about the Waxman ‘Cap and Trade (Tax)' energy bill just passed by the House, that few of our Representatives actually read before voting. After all, it's about 1,500 pages of legalese.

But there is major concern that some provisions in the bill may impact the ability of homeowners to sell their property in the future unless certain ‘mandated' energy improvements are made prior to the sale.

This could directly impact your business, especially if fewer homes are sold due to their age, and the lack of updating by older age owners (that's a whole bunch of ‘us' by the way) who may not have the resources to improve the property....despite the so called ‘credit' in the bill.

Think about it for a moment. To improve the energy efficiency of a dwelling, windows and doors would have to be replaced/retrofitted, and insulation added or supplemented. These are expensive components that cost far more for most homes than the amount of credit granted per this bill.

More info as provided by the Appraisal Institute's Appraiser News Online of July 8, 2009:

Houses Passes Green Bill; Senate to Take Up Late July

In a 219 to 212 vote, the House of Representatives passed the American Clean Energy and Security Act of 2009, which includes green building incentives for both residential and commercial buildings across the country. The landmark energy and climate bill is now in front of the Senate for debate, and a vote is expected in late July. If enacted, the comprehensive bill is expected to create millions of clean energy-related jobs and to help increase the energy efficiency of existing residential and non-residential buildings.

Included in the bill is the Retrofit for Energy and Environmental Performance program, which includes retrofitting incentives for residential and commercial buildings. Under REEP, homeowners could [does not say they ‘will'] qualify for up to $3,000 in financial incentives for achieving a 10 to 20 percent increase in energy efficiency, with another $150 for every additional percentage point of energy savings achieved. Buildings on the National Register of Historic Places would be eligible for an additional 20 percent in financial incentives. [Since very little is yet known, the presumption is increased taxes and more gov't control to pay for this...are you really comfy with that?]

Another feature of the bill would establish national building codes for commercial real estate that would mandate energy improvements for existing structures. It also would provide businesses up to $2.50 per square foot for implementing major energy reduction enhancements.

"This bill recognizes that green building is a major part of the solution to our economic and energy challenges," said U.S. Green Building Council President and Chief Executive Officer Rick Fedrizzi. "With this federal commitment, green building can help propel the new green economy by creating enormous energy and cost savings for millions of Americans while accelerating unprecedented job creation."

In related news, the USGBC recently added a requirement for building owners pursuing Leadership in Energy and Efficient Design (LEED) certification. In a move to eliminate the gap between green-related design features and actual post-development performance and operations, the organization now will require building owners to provide operational performance data on a routine basis to maintain certification.

"We're convinced that ongoing monitoring and reporting of data is the single best way to drive higher building performance, because it will bring to light external issues such as occupant behavior or unanticipated building usage patterns, all key factors that influence performance," said USGBC Senior LEED Vice President Scot Horst.

Dave Towne