appraisers: Bright Spot in this bleeeeeeeeeek economy - 07/17/08 04:06 PM
So if you have been following the stock market and the economy the last several months you are well aware that besides oil it has been very hard to find an investment with with an upside. I thought for a while their on my trip to NYC I should beware of bodies falling out of … (0 comments)
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appraisers: How many comps are you appraisers using - 07/14/08 03:25 PM
Typically how many and whay type (ex.lising, pending, sold, etc.) of comparables are you currently using?
… (3 comments)
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appraisers: Here comes the windfall - 06/22/08 06:29 PM
Over the past couple of years there has been a lot of speculation as to who was responsible for the mortgage meltdown. Was it the appraisers for over estimating the value on properties in order to make a mortgage broker happy? How about the Realtors and mortgage brokers who pushed higher … (6 comments)
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appraisers: Too Many 'For-Sale' Signs on street in Paradise Valley? – A good thing ? - 06/20/08 03:16 PM
Can a lot of homes for sale in the same neighborhood or same street ever be a good thing??
Sometimes, Yes! Let me explain....
Earlier this morning, I was showing a client a home for sale in Paradise Valley; a wonderful and exclusive township adjacent Scottsdale.
This home was everything … (4 comments)
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appraisers: BPO / Appraisals, Get more business - 06/13/08 03:33 AM
Realtors / Appraisers What's Your Marketing Strategy?
With over 60% of homes in America over assessed this leaves a large number of potential clients available to provide valuations for assessment disputes.
How will you reach them?
"With new regulation set to be passed eliminating appraiser and lender relationships … (4 comments)
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appraisers: ATTENTION ALL APPRAISERS..... - 06/07/08 06:38 PM
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 … (3 comments)
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appraisers: Fellow Appraisers...Feedback on current changes? - 06/06/08 09:05 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 … (2 comments)
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appraisers: ordering Appraisals - 06/04/08 06:49 PM
I have been thinking about what to blog about and the craziest thing happened today. Since the mortgage problems have happened a number of mortgage companies or sending out request for appraisals instead of asking the real estate agent. A year ago, themortgage company would have ask me for a referral. I received … (3 comments)
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appraisers: Appraisals and Why the Mortgage Professional Needs to Order Them - 06/03/08 07:11 PM
I have noticed a few posts out there from Real Estate Agents wondering why the Mortgage Company needs to order the appraisal and not let the home buyer order it from his or her friends.
There are several answers for this, but the most relevant to today's market is simply that … (2 comments)
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appraisers: Attention Appraisers - Do you get business leads on activerain? - 05/20/08 08:28 PM
Just curious. I've been on here for a few months and have decent blog going. I try to comment on other's post but I have never gotten a lead from AR. Just curious if I'm doing something wrong or if maybe this is not the right place for leads. I don't … (8 comments)
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appraisers: Appraisal Management Companies - Whats up? - 05/20/08 08:20 PM
I have never worked with them before and was wondering if they are worth it. Many have start up fees. Many only accept certain file types (as those on xsites). What are your thoughts? Is it worth it? Does anyone have experience here in Los Angeles with them?
… (5 comments)
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appraisers: Design Scape Website For Home Improvement Projects - 05/19/08 02:51 PM
I mentioned this site in a previous post but I wanted to write a little more because it is a awesome service. I do not know the cost involved but you have to watch the demo because it is really awesome what they do ... all online! I can only imagine … (0 comments)
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appraisers: FHA Contact Information - 05/19/08 02:41 PM
I've been trying to answer as many questions as I can about FHA and their new online procedures for becoming a FHA Roster Appraiser. I thought I would pass on some contact information. First of all, if you go online to: http://www.hud.gov/groups/appraisers.cfm , it has answers to almost any question you … (1 comments)
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appraisers: Sellers should think like an appraiser ...not like a seller! - 05/18/08 10:35 PM
Sellers should think like an appraiser ...not like a seller!
Selling Real Estate in FL can be a nice and pleasant experience or it can become stressful especially if you are just spinning your wheels and go nowhere. All it will get you is plenty of flying mud and you'll most certainly never reach … (59 comments)
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appraisers: Inspectors, appraisers & re-inspects - 05/17/08 07:47 PM
OK. I know that I have to explain this to the general public rather often, and I'm obliged to do so... but now I feel like I need to remind the lending institutions as well...
Definition: REAL ESTATE APPRAISER - A person who sets a value upon property
Definition: HOME INSPECTOR … (30 comments)
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appraisers: Appraisers Earn Extra Money In A Down Market - 05/16/08 09:01 PM
I thought I would pass on a lead to you. I met a lady named Dace from Design Scape. They are a company that does landscape design on line. They hire appraisers nationwide to do diagrams of homes. Its purely a outside inspection and you have to take between 70-120 pictures, … (8 comments)
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appraisers: Fruit Dip - 05/13/08 11:12 PM
Beat 1-8 ounce package of cream cheese, 1 jar of marshmallow creme, 1 tablespoon of lime juice, 1 teaspoon grated lime peel and a dash of ground ginger together in a bowl. Dip fresh or dried fruit in and enjoy!
… (4 comments)
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appraisers: Real Estate Appraising Secrets - Pictures For FHA Appraisals - 05/12/08 08:19 PM
Preparing an appraisal report for FHA is not as complicated as it once was. As far as taking pictures, one of the most important requirements that HUD makes is that any picture included in the appraisal report must be taken by the appraiser signing the report. Appraisers are not allowed to … (12 comments)
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appraisers: Most common USPAP errors that Appraisers make... - 05/07/08 01:37 PM
This is a list of the most common USPAP errors according to my state appraisers board. Just a note to the pros out there that are not familiar with appraisal guidelines, if we [appraisers] are caught (on purpose or accident) abusing any of these USPAP guidelines, we are fined, given additional classroom … (7 comments)
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appraisers: APPRAISALS...Change is Good...Isn't It? - 05/05/08 08:29 AM
The one thing I have always loved about real estate is nothing ever stays the same. You're market is probably the same way, isn't it? Just when you think you have something figured out, you realize you don't know as much as you thought you did. I don't know about … (0 comments)
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appraisers: Proposed Appraisal Changes Will Affect Realtors - 04/28/08 04:33 PM
Due to a lawsuit brought about in New York, a settlement was reached between the state of New York and the GSE’s (aka Fannie Mae and Freddie Mac) whereby the GSE’s would implement the Home Valuation Code of Conduct (HVCC) and in turn, the state of New York would drop their … (1 comments)
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appraisers: Appraisers are outdated, and no longer have a place in real estate purchases - 04/25/08 04:03 PM
I don't agree with the title of my blog. I do believe appraisers are working a system that is devaluing themselves, and should look into changing their practices.
Appraisers should base their appraisals on independent judgment without a predetermined set price in mind. That is their job, and therefore their inherent value.
If the determing value … (20 comments)
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appraisers: To EVERYONE in the Industry... - 04/25/08 12:45 PM
I talked to someone from the Sandler Sales Institute this morning and I was amazed at the information that he gave me. I think everyone should live by this....
Draw the face of an analog clock...
On the 12 hour, put the word Outlook There
On the 3 hour, put the word Judgment There
On … (4 comments)
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appraisers: Not all appraisers equal: Appraiser License Levels & Appraisal Limits - 04/24/08 10:05 AM
I mentioned in a blog earlier today that not all appraisers are created equal. In today's market, it is crucial that qualified and experienced appraisers be used. Below is a breakdown of each appraiser license level(based upon definitions provided by the Colorado Department of Real Estate):
1. REGISTERED Appraiser- Must complete the … (4 comments)
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appraisers: Thank you AR, my 300th post... - 04/21/08 09:30 PM
AS I write my 300th post, I have to say that AR is a fabulous place. I have met some absolutely wonderful people who I now consider friends. Even though I have never met these people face-to-face they are encouraging, helpful, give you a call and walk you through things you … (25 comments)
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appraisers: FannieMae - 04/07/08 05:18 PM
April 2, 2008 is a day we all will remember. It was the day Fannie-Mae announced there new underwriting guidelines. While the FHA/VA Loan limits may have increased. Other areas are seeing some major adjustments. Such as the Declining Market Adjustments to LTV's, the proposed new appraisals agreement with the Attorney … (3 comments)
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appraisers: Do Something Different! - 04/05/08 09:47 PM
If you are a real estate professional stuggling to keep your head above water...LISTEN UP! More real estate professionals than you think ARE STILL MAKING GREAT MONEY!...and with the right education YOU CAN TOO!
What if I told you the real estate professionals (agents, brokers, realtors, appraisers, loan officers) that have taken part in my … (3 comments)
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appraisers: Quitting is NOT the Answer - 04/05/08 12:58 PM
Quitting is Not the Answer
I’ve read several AR posts from Realtors, Lenders, Appraisers, Home Inspectors, and others in our industry about quitting. Many thousands already have. For those of us that survive this market/business cycle, that’s not bad news. Hopefully, only the best will survive and thrive in the after math. … (8 comments)
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appraisers: BPO companies I got a lot of work from - 03/19/08 08:33 PM
Recently I have been getting many bpo orders from Mark to Market and Mainstreetval. Can't say the same for the paid subcription companies. I am wondering if it has anything to do with where you are located? I have since posting that said they are doing well with some of these paid … (35 comments)
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appraisers: Why the Housing Market in the Toledo Ohio area is like the Stock Market. - 03/17/08 08:23 AM
The value of homes for sale in the Toledo, Ohio area has without a doubt gone down.
On the west coast of the United States there have been several occasions where the housing values have gone up to record highs only to fall again to new lows within about a ten … (0 comments)
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appraisers: Money to Loan!!! - 03/08/08 12:52 PM
Attention
Realtors, Builders, Developers, RE Attorneys, Accountants, Architects, Engineers, Appraiser
I am a Private Intermediary between borrowers and lenders.
Any type of loan you need, I can get it FUNDED!!!
MAJOR PROPERTY LOANSoffice buildingsindustrial buildingshealth care facilitiesshopping centersmobile home parksmedical office buildingshotels/motelsapartments
COMMERCIAL FINANCE LOANSworking capitalpurchase of equipmentexpansion or merger of businessconsolidation of debtsaccounts receivableinventory
CONSTRUCTION … (0 comments)
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appraisers: Back to the Future!!!!! - 03/07/08 02:14 PM
Due to a legal settlement between Fannie Mae and Freddie Mac (know as GSE'S) and the New York AG's office the follow sweeping changes regarding appraisals will be coming down the pike fast (see below)
It looks like the settlement will be adopted nationwide sometime in the coming months. Loans will … (7 comments)
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appraisers: John Stossel - - we need you here!!! GIVE ME A BREAK! - 03/07/08 07:06 AM
I spend two days last week getting my continuing education (C.E.). During the 16 hours of CE, there was a section on appraisals. Now I know that appraising is a contributing factor to this whole subprime and lending fallout....but it's not the predominant reason...just a CONTRIBUTING factor.
Having said that I found out that WAMU … (8 comments)
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appraisers: YEAH FANNIE MAE! - 03/05/08 03:44 PM
I can't tell you how excited I am about the press release dated March 3, 2008 stating that Fannie Mae and Freddie Mac are establishing the "New Home Valuation Protection Code" prohibiting Mortgage Brokers from selecting appraisers, prohibiting Lenders from using "in house" appraisers, and prohibiting Lenders from using appraisal management companies … (1 comments)
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appraisers: Fannie Mae & Freddie Mac -- Independent Appraisals - 03/04/08 03:52 PM
Fannie Mae and Freddie Mac are getting tough. They will only purchase loans from banks that use independent appraisers. To me, it's long overdue. Our industry has been built on a "who knows who" platform and that can lead to the problems that have been manifested with inflated appraisals. Appraisers felt compelled … (0 comments)
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appraisers: Fanny and Freddie Change the Rules - 02/28/08 01:44 PM
Its not yet a done deal, but its quite possible that Fannie and Freddie will no longer allow in house appraisals of property. Real Estate agencies that have their own mortgage subsidiary's will no longer be able to also appraise the property. More than a little of this problem was caused … (0 comments)
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appraisers: Stimulus Package - 02/20/08 02:00 PM
Yesterday England place Northern Rock bank into what they called a temporary public company. Another way of putting this is that Northern Rock was nationalized. Ain't globalization wonderful.
Now we have our own federal government proposing to raise the loan limits for Fannie Mae and Freddie Mac to over 700 thousand … (1 comments)
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appraisers: Mortgage Market Moving Goalposts - f.k.a. Real Estate Appraisals - 02/15/08 11:59 AM
By Dustin R Burke, Adonai Financial
As a mortgage professional I am often asked by homeowners or potential homebuyers, “What this home worth?” My answer is always an oversimplified, “Its worth what someone is willing to pay for it.” Even though in conventional wisdom this answer is true, I am considering a … (0 comments)
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appraisers: Mortgage Market Moving Goalposts - f.k.a. Real Estate Appraisals - 02/15/08 11:57 AM
By Dustin R Burke, Adonai Financial
As a mortgage professional I am often asked by homeowners or potential homebuyers, “What this home worth?” My answer is always an oversimplified, “Its worth what someone is willing to pay for it.” Even though in conventional wisdom this answer is true, I am considering a … (0 comments)
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appraisers: Mortgage Market Common Sense - or lack of it... - 02/15/08 09:55 AM
By Dustin R Burke, Adonai Financial
What ever happened to common sense? There seems to be a shortage of it everywhere: from restaurants to the movie theater to Wall Street to the banks we are in need of common sense.
Well, I am a mortgage guy, so this is going to relate to … (2 comments)
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appraisers: Soft Markets - the new way to redline. - 02/15/08 08:27 AM
By Dustin R Burke, Adonai Financial
If you haven’t already heard the term “soft market” – you will. As most of us know certain areas of the real estate market have been in decline for around a year now. The correction has appeared to have been mild, until recently where more and … (1 comments)
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appraisers: Soft Markets -- the new way to redline. - 02/15/08 08:25 AM
By Dustin R Burke, Adonai Financial
If you haven’t already heard the term “soft market” – you will. As most of us know certain areas of the real estate market have been in decline for around a year now. The correction has appeared to have been mild, until recently where more and … (3 comments)
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appraisers: New web site for Tennessee - 02/13/08 07:03 PM
If you are a Loan Officer and your not closing the amount of loans you would like call me. If your a Realtor and your homes are staying on the market call me. If your a Title Agent, or Escrow company and your search, close ratios are low call me. If … (0 comments)
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appraisers: Polk County Real Estate Appraisers - 02/10/08 02:44 PM
If you need to get a property appraised in polk county florida we appraise all areas including, Auburndale, Bartow, Davenport, Dundee, Eagle Lake, Fort Meade, Frostproof, Haines City, Highland Park, Hillcrest Heights, Lake Alfred, Lake Hamilton, Lake Wales, Lakeland, Mulberry, Polk City, Winter Haven and many, many more in the polk county … (0 comments)
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appraisers: Fishing out other appraisal posts around Active Rain - 02/08/08 07:11 PM
Sometimes, I take a stroll around AR to find appraisal posts that didn't hit the main groups, but I thought today I would take a little fishing trip and snag some of these links, and put them all in a nice little barrel for an easier ‘catch' ...
Todd Hurst writes … (28 comments)
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appraisers: URAR Form Questions: Part 1 – Active & Sold Comparable Sales - 02/08/08 12:41 PM
Ever since the new URAR forms came out, I have been debating the active and sold comparable listings field with my fellow appraisers and so I'm hoping to turn that debate into a larger circle of professionals to attempt to get an answer that everyone might agree upon.
My co-workers are … (22 comments)
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appraisers: Fraud and lending in Las Vegas - 02/05/08 12:26 PM
Originally posted on HomeFinancingNews.com.
Mortgage fraud is again stepping into the media limelight. NPR's Morning Edition reports on new FBI investigations which are being carried out in Las Vegas, Nevada: a city which is fast emerging as the mortgage fraud capital of America.
Current turmoil in the city's property market has … (0 comments)
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appraisers: IMMEDIATE BROADCAST - US Real Estate Professionals - 02/02/08 09:31 PM
INDUSTRY BULLETIN - Many families have been affected by the market swing and decline in the financial markets. Wow--it's almost mind boggling at the number of people who have been laid off, let go, downsized, eliminated or squeezed out by this brutal market. AND there are more brokers/agents that are preparing to … (1 comments)
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appraisers: FHA Changes Part III - 01/30/08 04:35 PM
This may be old news for some people but not everyone is familiar with the changes made by FHA.
FHA Changes Part II FHA Changes Part I
Excerpts from MORTGAGEE LETTER 2005-ML-48 This Mortgagee Letter is effective for all appraisals performed on or after January 1, 2006.
FHA no longer mandates automatic inspections for … (3 comments)
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appraisers: MLS Interior Photos & Reporting Sales Concessions - 01/26/08 11:41 PM
I would like to pick your brain for a minute and try to get a better understanding as why some RE Agents include interior pictures of homes they list and others do not. I also wonder why sales concessions are not always listed. Is it personal preference, legal reasons, office policy, … (13 comments)
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appraisers: FHA Changes Part II - 01/23/08 08:23 AM
This may be old news for some people but not everyone is familiar with the changes made by FHA.
FHA Changes Part I
FHA's primary area of concern is in these three areas: Safety, Security, and Soundness. Properties with conditions that threaten or could threaten the health and safety of its occupants or … (8 comments)
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appraisers: Appraisers - 2007 Year end summations - - 01/19/08 06:58 PM
What was supposed to me a 15 minute project has turned into a couple of hours of reading over old posts, finding blogs that I had missed and all around reflecting over this group. I just thought I would take a moment Saturday to thank you all for your contributions and readership … (14 comments)
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appraisers: Certified Residential and Commercial Appraiser Wanted! - 01/19/08 11:14 AM
Cape Appraisals has expanded its Appraisal company to the following counties. Due to an enormous response from other counties requesting our services, We are searching for qualified Appraisers who can help us achieve our client's needs. We service all of the following counties;
Alachua County-ClosedBaker County-AvailableBay County-AvailableBrevard County-AvailableBroward County-AvailableCalhoun County-AvailableCharlotte County-Closed
Clay County-AvailableCollier … (1 comments)
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appraisers: I love my customers... - 01/17/08 07:43 PM
Yes, I do! I aim to bond with the customers that choose to work with me... I want them to gain trust in me by my confidence in the fact that I can help them to reach their goals.
I refer them to other experts such as Mortgage Brokers, Appraisers, Inspectors who … (2 comments)
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appraisers: Appraisal Management Companies - 01/15/08 08:23 PM
As things get to beyond ‘winter slow' appraisal-wise around these parts, I start looking at my options for a bit of financial comfort. The easy way to go... an appraisal management company...
I wince.
I admit, I'm not a fan of appraisal management companies, but perhaps that's simply because I am … (36 comments)
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appraisers: Stone Cold Killer - 01/11/08 11:38 PM
My name is Kenneth J. Miller and I am not a killer. I hear it all the time regarding appraisers killing another deal because the appraisal report came in too low. My wife used to work for a mortgage broker and I'd hear it all the time from loan officers in … (5 comments)
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appraisers: FHA Leaves Door Wide Open for Skippy - 01/09/08 02:35 PM
Effective February 7, 2008, FHA will no longer require the HUD examination on FHA reporting and examination to become eligible to do FHA appraisals. One must be licensed or certified to be placed on the roster. FHA feels that the testing required to become an appraiser is sufficient and that requiring … (13 comments)
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appraisers: The Power of an Appraiser - 01/05/08 09:27 AM
So I have this client who wrote an offer on a property and who was in mid process of getting a loan from Navy Federal Credit Union. The bank orders an appraisal and the client is on the way to his 100% loan when we hit a major speed bump. I … (2 comments)
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appraisers: FHA Changes Part I - 01/03/08 06:51 PM
This may be old news to some but there are many people out there who don't know about the changes made by FHA.
FHA has made some changes in its requirements for financing a home through their program. Gone are the old VC sheets with the pages of hoops a property must jump through. Gone are … (0 comments)
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appraisers: www.realestateloop.net (Real Estate Loop) - 01/03/08 12:12 PM
About Us“Real Estate Loop” is an online community where like-minded people gain knowledge, share ideas, information, and resources and help each other achieve financial success through various aspects of the real estate industry. The site offers Community discussion forums, real estate recourses, various articles, blogs, and an online real estate … (0 comments)
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appraisers: New Year's Resolutions--Yours and Mine - 12/29/07 01:59 PM
It's the end of December, so it is resolution time. As I ponder my personal list, which includes finishing my book,
doing more convention speaking, blogging more often, and reading at least one business book a month, I find
myself wishing I was in charge of other people's resolutions. Call me cranky; maybe … (0 comments)
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appraisers: City of Frisco's Population - 12/28/07 09:22 AM
I was browsing the City of Frisco website this morning and I found an update that I thought I would share with the AR group. This is certainly exciting ionformation for those in the Frisco real estate community!
The City of Frisco's population is 92,100 residents, as of January 1, 2007. The population of … (4 comments)
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appraisers: New FHA Guidelines As of January 2006 - 12/23/07 07:28 PM
… (1 comments)
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appraisers: Portlandmaps.com: What does your public tax internet site look like? - 12/22/07 11:06 AM
As an appraiser, I glean off as many public internet sites that I possibly can while not leaving the comfort of my desk. I appreciate all the relevant information the cities and counties provide for us, but sometimes I think they may cross the line. Our city/county site, portlandmaps.com enters everything … (9 comments)
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appraisers: Who determines value in this market? - 12/20/07 06:46 PM
In my office in Pleasant Hill California we've noticed the appraisers are really clamping down on comps. And, lenders are requiring review appraisals on nearly all pending sales (Uggh!)
It appears the banks just don't want to do any more loans for the rest of the year. I wish they would just admit … (11 comments)
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appraisers: Trick question... I think - Storefront or storage? - 12/14/07 11:55 PM
OK, fellow appraiser hot shots... I've got a question -
I've been asked to appraise a building that was designated commercial storefront with apartments above (by the city), but the storefront has been used for storage for years. The units are still rented to residential tenants. Due to it's location, I'm going … (11 comments)
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appraisers: Should I wish to be in a ‘foreclosure' market? - 11/12/07 11:54 PM
After a slow day of Appraisal inspections (holidays like this Veterans Day, is usually busy for Appraisal inspections due to ‘normal folks' having days like these off). I was listening to this on NPR. This newscast has come up on a blog one other time on AR. (I wish I could … (9 comments)
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appraisers: Know your Comps and be Suspicious of Fraud - 11/09/07 01:43 PM
The house is in my neighborhood and I walk past it nearly every day. I've run across this sale quite a few times in my sales searches. I'm not sure what the inside looks like, but the outside is less than spectacular. I imagine that the inside has upgrades such as … (17 comments)
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appraisers: Washington Mutual Home Loans Used Illegal Appraiser Manipulation - 11/07/07 03:07 PM
A recent lawsuit was filed alleging the Washington Mutual Mortgage applied undue pressure to it's appraisal management firm, eAppraiseIT, a subsidiary of First American...the huge title company.
This collusion if true is the exact behavior mortgage brokers are often accused of when attempting to explain the subprime meltdown and the glut of foreclosures.
Read … (1 comments)
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appraisers: Just what we don't need - 11/03/07 10:17 AM
It has been a very busy week here on the NC coast. The weather through Thursday was fantastic.
It even got up to 80 degrees Fahrenheit over on beach on November 1.
That with a combination of Hurricane Noel about three hundred miles off shore brought some great waves to the beach and … (2 comments)
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appraisers: Ask for an experienced appraiser - 10/27/07 07:42 PM
The Wall Street Journal had an article talking about the difficulties with appraisals in most of our markets. I found it interesting that they suggested asking for an appraiser who had many years of experience in the area, rather than taking whoever comes up on rotation.
Our contact at Bank of America … (7 comments)
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appraisers: Communicate Communicate Communicate - 10/26/07 09:47 PM
I was fuming earlier tonight, and so was my client! He is refinancing a property so he can purchase another one. He needs to capitalize on the equity so he can cover the down payment. Not unusual. Well, first off he's a great guy. He either calls me every day or … (3 comments)
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appraisers: Google Street Views can help an Appraiser (and other RE Pros) - 10/23/07 10:21 AM
I know the GPS is a house or two off and images are a bit lacking, but I must say that Google Street Views has potential. I'm inclined to reference Street View links in my report if there's a view or other neighborhood amenity/defect that is note-worthy.
For instance now I can show … (12 comments)
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appraisers: More crazy things that Lenders decide to put in writing - 10/22/07 01:32 PM
I'm starting to think that perhaps it would be wise to make USPAP mandatory for Lenders as well -
Thanks to Anne O'Rourke's email newsletter, I was directed to this article at the Mortgage Lender Implode-O-Meter (they're great web sites, you should bookmark both of them). Here are some key points that just … (26 comments)
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appraisers: Active Rain is the Great! - 10/18/07 11:41 PM
As I surf the ActiveRain network and meet more and more of it's members (mostly by reading their writings) the more I like AR and find more uses for it. The amount and quality of content is beyond comment. It's hard to even keep up with the current posts, none-the-less return … (8 comments)
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appraisers: When Real Estate Professionals go bad - 10/17/07 02:04 PM
I first made mention of an unscrupulous Loan Officer that was fishing for less than honest Appraiser's in this post. I thought I had also made mention of this post that is on my myspace appraiser's forum (rather inactive since I discovered AR).
Here is the gist of the originally poster:
im … (14 comments)
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appraisers: Lender Guidelines for Appraisals... Can we keep up? - 10/16/07 11:45 AM
ABC Lender Guideline Update - Appraisal Guidelines
ABC Lender is amending the appraisal requirements for all of its loan programs. The changes include:
The Maximum Distance for Comparables is 0.5 (Urban), 1.0 (Suburban), and 5.0 miles (Rural). Comparables that exceed the distances above will not be accepted.
The Maximum Comparable Age is 3 months from the date … (12 comments)
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appraisers: Understanding the Home Appraisal Process - 10/15/07 09:39 PM
Consumers are often baffled by the home appraisal process. They may feel their home is worth a certain dollar amount, and therefore, the appraised value doesn't make sense to them. It is important to know that appraisal guidelines are dictated by the lenders. In many states, the lenders must disclose the … (4 comments)
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appraisers: Apella Proudly Announces It Has Partnered With McKissock Real Estate & Appraisal School - 10/15/07 09:00 AM
I am proud to state that Active Rain is the first platform for this announcement as it shows great promise for the real estate blog and the benefits for the real estate professional both that blog and do not. It is a great honor to be able to work with a national real estate school … (0 comments)
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appraisers: How to do your own 'Comp Search' - 10/08/07 11:15 AM
How to do your own ‘Comp Search':
1) Talk to your borrower about their house. Ask them if they have any amenities or upgrades (inground pool, new roof, updated kitchen, etc.). Ask them what year their house was built and what style it is (Ranch, Split-Level, Traditional, etc.). Ask if there … (7 comments)
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appraisers: Have AVMs gone too far (those little theives)? - 10/08/07 11:12 AM
Whether you (as an appraiser) know it or not, you may be giving your information to FNC which turns around and sells it to AVMs per this article:
http://www.alamode.com/News/07/070125.aspx
and then a link here: http://www.washingtonpost.com/wp-dyn/content/article/2007/01/19/AR2007011900089.html
[Appraisers] claim that their appraisal reports are being systematically looted of key information without compensation or permission. Appraisers say … (6 comments)
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appraisers: Sorry, I'm gonna have to dock you for that Glamour Shot on the wall.... - 10/08/07 11:07 AM
Oh my word... this is actually a statement that a lender has put on their prerequisites for their appraisal report:
"Please be sure to adjust for any personal decor or condition issues in your grid and/or comment on decor in the narrative section of your report. The client considers personal decor, any … (2 comments)
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appraisers: Communication breakdown by mandate - Realtors vs Appraisers - Disclosure - 10/08/07 11:01 AM
So it's our job (as Appraiser's) to research the facts in historic sales for the Market Approach to value and now it's the Realtor's job to hide those facts. Just when I thought that groups like AR were bringing the RE industry closer together, the industry leaders attempt to keep us … (2 comments)
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appraisers: Cost-to-Cure - Unpermitted Additions - 10/08/07 10:59 AM
Dave from my myspace appraiser group (I think he's lurking in the shadows on activerain as well) posted informatoin about lenders wanting a cost to cure statement for unpermitted additions -
Here is one of his quotes: "I do not include the square footage of any additions in the GLA, in … (0 comments)
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appraisers: Pre-determined value 'enticement' email... ugh, you had to put it in writing! - 10/08/07 10:51 AM
This is what Not to write to an appraiser... especially upon initial contact.
The following note was sent to me today. Appraiser's please feel free to elaborate on as many violations as possible that an appraiser could break should they choose to accept this without wording their answers VERY carefully... or add … (4 comments)
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appraisers: How do you measure? ANSI rules included - 10/08/07 10:48 AM
When measuring Do you:
Deduct 6 inches for brick facades or use measurements from the interior or exterior?Round to the nearest inch, 1/4 foot, 1/2 foot, foot? Eliminate one level of the stairway and open spaces?It all adds up (or down) and when it comes down to it, it's all about … (0 comments)
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appraisers: GPS - Great for Real Estate professionals - 10/08/07 10:45 AM
I have lived in the Portland Metropolitan area all my life. It could be told that I know my way around and that I even impress some folks with my knowledge of shortcuts. But as it turns out, at times I get lost. I get lost a lot. I reach an … (0 comments)
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appraisers: Energy efficient Items worth still not recognized - 10/08/07 10:43 AM
"[Appraiser's] don't calculate energy improvements made to homes because standards don't exist to accurately measure the increased value from energy upgrades."
Reference: http://www.bizjournals.com/sacramento/stories/2001/07/30/focus7.html
I was reading this old article on bizjournals.com about appraiser's and energy efficient items. The fact is, if it's not a standard in the MLS listing or tax information, appraiser's … (0 comments)
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appraisers: Real Estate Appraisers - 10/04/07 08:41 PM
I know there are appraisers on AR that I don't want to offend, but if you do like this guy did you don't deserve you're license. I wish I knew what to do about sorry appraisals like this:
I went to have one of my rentals refinanced. The bank needed an appraisal … (4 comments)
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appraisers: MLS Seller Converts to FSBO (You may get a chuckle out of this) - 09/16/07 11:00 PM
I previewed the following home (MLS and address not listed to protect the owner and the agent) sometime last year. The owner greeted and me and conducted the showing/walk about . He is a pleasant gentleman, obviously proud of his work. The home is in a gorgeous setting as is typical of many … (12 comments)
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appraisers: Property Ladder: What Women Want episode - 09/05/07 09:17 PM
I ran upon an episode of ‘Property Ladder' that was about three Appraisers that decided to quit their jobs and flip a house. Long story short, they were ill-prepared, had no plans in writing and over-extended their budget by $10,000. But what killed me is that these three... Appraiser (!!!) … (10 comments)
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appraisers: Wisdom and Knowledge there is a difference. - 08/31/07 10:25 PM
Knowing data and information does not give wisdom. The greatest power that Realtors, loan officers, appraisers, stagers and other professionals in the real estate field bring to the home buying equation is their wisdom. It is inevitable that we are in the information age and with so much information it … (0 comments)
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appraisers: Do You Love A Good Fairy Tale??? - 08/25/07 08:32 AM
Am I just like you?
Did you love Fairy Tales and Fables when you were growing up?
I remember buying an Aesop's Fable book when my son was born! I was so excited to bring the stories to him that I had grown up with. I still have that treasured hard cover … (41 comments)
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appraisers: Learn from this cycle and Educate Yourself! - 08/25/07 04:16 AM
This market condition is another cycle to educate ourselves. This is the time to truly understand the needs of our clients and really focus on how you can help them. It is time to educate again ourselves as Realtors. Don't panic on what is happening with the lending business. Learn from other people's mistakes … (0 comments)
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appraisers: Big Bank Appraiser - 08/22/07 12:27 AM
A fellow Appraiser friend of mine grew tired of the Lenders strong arm regarding value, condition, etc. and so he signed on as a Big Bank Appraiser. Alas his troubles with these issues had come to an end... he thought....
As time passed, he felt the strong arm of the Big Bank … (12 comments)
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appraisers: A One Stop Shop When Moving with Pets - 08/21/07 10:39 AM
The launch of The Pet Realty Network's national Resource Directory makes moving with pets a whole lot easier
With 10.7 million people moving with their pets every year in the United States alone, it's not surprising that the idea of creating an all inclusive Resource for pet owners moving with their pets … (8 comments)
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appraisers: CMA verses Appraisal - 08/14/07 09:56 PM
I found this video on YouTube and thought it was interesting... Especially the opinion that a CMA uses emotion while an appraisal is black & white.
Yes, we as Appraiser's are not supposed to judge on decor or personal taste, however we are supposed to note if the house smelled of cat urine, … (5 comments)
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appraisers: Story time, story time.....How did you get into business? - 07/31/07 09:31 PM
So, who likes good stories? Please stand up and raise your hand, don't be shy. Me? I was never the best story teller so you may fall asleep on me.
Okay, for many of us, it was the end of the month. Besides being stressful at times, I have been writing … (21 comments)
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appraisers: Pool measurements for the insurance agent? - 07/30/07 06:21 PM
Hey all -
I haven't run across this before, but then again, we don't have many in-ground pools around these parts.
I have an Insurance Agent that is requesting parameter measurements of an in-ground pool for insurance purposes. I have never heard of anything like this before. What is the point of … (3 comments)
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appraisers: Cream Rises to the TOP....Gunk Gets Stuck at the Bottom! - 07/28/07 05:45 PM
Over the last few days at my local Starbucks, I've been interviewing more real estate people (realtors, agents, appraisers, lenders, escrow, title, and home warranty) than you can think of as I'm starting to see a trend that is becoming more pronounced than I've seen over the years. Namely, its the title … (12 comments)
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