I heard that Appraiser jobs were going to be outsourced to India, but I wouldn't have believed it until now. HVCC is the mechanism that's allowing this to happen. Only an unemployed and extremely desperate Appraiser would ever assist in this attempt to undermine the Appraisal profession.
I'm requesting that all Real Estate Professionals support appraisers in getting HVCC repealed. An amendment to eliminate HVCC is located inside the Consumer Financial Agency Act of 2009, soon to be discussed in the Senate. Please tell your Senators about any of your own negative experiences with HVCC. Experienced and dedicated appraisers are being driven out of the business, and in most cases being replaced with inexperienced and underpaid appraisers and unlicensed sweatshop employees.
Ideas of what you can include in your letter: Experienced and highly ethical appraisers are not getting appraisal work, poor appraisal quality/unexperienced appraisers, low values, slower turnaround times, appraisals are more expensive than prior to HVCC, cannot use the same appraisal with other lenders, AMC's won't answer their phones, or return calls in a timely manner, AMC are now doing the pressuring, and now the outsourcing of American Jobs, etc.
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Senior Appraisers Required
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Job Description
This is for a full time senior appraiser. Ideally the person should be open to travel to India for training purposes.
The job description is:
1.) Primary responsibility entails engaging & reviewing the entire appraisal process for development and construction loans, including acquisition/refinancing of the five core property types consisting of multifamily/apartments, office-warehouse/flex space, retail/shopping center, hotel/motel and OREO properties.
2.) Review institutions existing lending and appraisal policies. Implement a well-defined and effective appraisal program that meets acceptable standards (Regulatory FIRREA & USPAP) regarding appraiser qualifications & independence that conforms to safe and sound banking practice. Identify the scope of the review process to be conducted and criteria to guide the appraiser in performing the appraisal process. Maintain independent control of the appraisal/valuation process, provide for timely receipt of appraisals to facilitate the underwriting function and assess validity of evaluations to support transactions.
3.) Act as liaison between appraiser and institution. Review appraisals by judging the accuracy, reliability and credibility of the appraisal reports. Design and assist in the process of appraiser selection. Periodically review original appraisal assumptions for adequacy and conformity with changing market conditions and establish criteria for ordering re-appraisals where necessary (especially when substantive changes or modifications have occurred in the collateral subsequent to the original valuation approval due to changing market conditions).
4.) Assess existing or proposed project's marketability and feasibility prospects by taking into consideration the assumptions and projections used by the appraiser to support valuation methodologies and highest-and-best use value conclusions. Utilize research or studies provided by third-parties (external vendors) and assess the impact these assumptions may have on the respective valuation methods should be fully explained and documented (e.g. capitalization rate, DCF projections, absorption rate, etc.)
5.) Perform collateral inspection and due diligence of real estate collateral as deemed necessary.
6.) Special lender needs, such as estimate of lease-up costs and expenses to carry a project to stabilization for repositioned properties, change in the size, design or configuration of the project, the actual or effective loss of an anchor tenant, any change in key assumptions that could potentially affect collateral value due to market instability and any other value situations that may require a separate formal market survey (lodging facilities, and special/single purpose properties, out-of-territory permanent financing, etc.)
7.) Coordinate and work closely with supporting staff within the Credit Administration Department and maintain appraisal database and statistical information.
Job Requirements
Education Requirements:
- Stated Certified Appraiser with M.A.I. designation.
- Bachelors Degree in Finance/Accounting/Economics; Associates Degree in Business Administration and/or State Certified and Real Estate related disciplines.
Experience Requirements:
Ten years experience in Real Estate Appraisals involving commercial real estate special purpose properties, multifamily, office/warehouse flex, etc. Advanced knowledge of Windows, Word, Excel, Power Point, Argus, PPR and Costar.
Other Essential Knowledge:
Detailed oriented, good analytical and writing skills a must. Ability to work as a team leader and independently. Understanding of the Bank's credit policy and products.
Did you know that Andrew Cuomo, the New Yorks Attorneys General, the genius who invented HVCC is himself involved with an Appraisal Management Company? As a matter of fact Cuomo was a paid board member of AMCO, an appraisal management company. His buddy is Ed Davidson (a major campaign contributor of Cuomo) and was the CEO of AMCO, which was sold to SIRVA and renamed Valuation Services, LLC. It is reported that Davison has rights to future income from Valuation Services, LLC. (and I wouldn't be surprised if Cuomo does get a couple of bucks from it either).
I'm requesting that all Real Estate Professionals support appraisers in getting HVCC repealed. An amendment to eliminate HVCC is located inside the Consumer Financial Agency Act of 2009, soon to be discussed in the Senate. Please tell your Senators about any of your own negative experiences with HVCC. Experienced and dedicated appraisers are being driven out of the business, and in most cases being replaced with inexperienced and underpaid appraisers and unlicensed sweatshop employees.
Ideas of what you can include in your letter: Experienced and highly ethical appraisers are not getting appraisal work, poor appraisal quality/unexperienced appraisers, low values, slower turnaround times, appraisals are more expensive than prior to HVCC, cannot use the same appraisal with other lenders, AMC's won't answer their phones, or return calls in a timely manner, AMC are now doing the pressuring, etc.
I am writing to you today on behalf of the National Association of Mortgage Brokers (NAMB) to urge you to vote for an amendment to H.R. 3126, the "Consumer Financial Protection Agency Act of 2009," submitted by Representatives Childers and Miller (CA). The amendment seeks to reverse the harmful Home Valuation Code of Conduct (HVCC) and calls on regulators to work together on one set of appraisal standards.
Click here to view a petition with over 100,000 signatures of Americans calling for the HVCC to be overturned. You may select your home state to find out how many of your voters support reversing the HVCC.
Sincerely, Jim Pair, CMC NAMB President 2009-2010
If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Orange County, La Habra, La Habra Heights, Whittier, Brea, Fullerton, Anaheim, Placentia, Yorba Linda, La Mirada, Buena Park, Cypress, La Mirada, Hacienda Heights, or Norwalk. Feel Free to give me a call at 714.441.1987 (USA) or email me at wynng@roadrunner.com or visit my website at http://www.SoCalRealEstateBrokers.com
In 1994, a routine medical check revealed a tumor in Robbins' pituitary gland. Robbins explains in Personal Power that the tumor was actually an adenoma that had infarcted several years earlier. Due to the pressure of the adenoma on his pituitary gland, he had circulating levels of growth hormone several times higher than what would be normal for an adult his age.
This had resulted in a subclinical manifestation of the disease known as acromegaly, which doctors told Robbins was responsible for his remarkable growth spurts as a teenager, as well as his large hands and feet (he is 6 feet 7 inches (201 cm) tall). After consulting with multiple physicians, Robbins decided not to have the adenoma removed, as it was not causing any clinical manifestations.
Inspirational Quote - Living for Tomorrow
" How Am I going to live today in order to create the tomorrow I am committed to?"
By: Tony Robbins, Self-help Speaker and Author
If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Orange County, La Habra, La Habra Heights, Whittier, Brea, Fullerton, Anaheim, Placentia, Yorba Linda, La Mirada, Buena Park, Cypress, La Mirada, Hacienda Heights, or Norwalk. Feel Free to give me a call at 714.441.1987 (USA) or email me at wynng@roadrunner.com or visit my website at http://www.SoCalRealEstateBrokers.com
I'll always remember where I was when I first saw a bumpersticker that said "Meat is Murder." I've been giving the idea of becoming a Vegan some serious thought, but I've never met one. Are there any Vegans out there who can tell me how hard it was? Any advice on the subject would be greatly appreciated.
If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Orange County, La Habra, La Habra Heights, Whittier, Brea, Fullerton, Anaheim, Placentia, Yorba Linda, La Mirada, Buena Park, Cypress, La Mirada, Hacienda Heights, or Norwalk. Feel Free to give me a call at 714.441.1987 (USA) or email me at wynng@roadrunner.com or visit my website at http://www.SoCalRealEstateBrokers.com
I completed my 3rd (yes only my 3rd) appraisal for an AMC yesterday (hardly any of them will call me because I think that I'm worth $350 for a full 1004 w/1004MC), and yesterday I got an e-mail from the manager of that AMC. The property was built in the late 60's, and I had used only comparables that were also built in the late 60's. For those of you who know, homes built in 1976 or later often have cathedral ceilings and superior floor plans, and usually command a higher price than homes built prior to 1976.
Her e-mail was this lengthy three page rant about why she felt that I should have used comparables that the owner found for me, even though they were built in 1979, 1980, 1985, and 1990. Well guess what honey, I'm the Appraiser, and you're the AMC Manager, and that's lender pressuring whether you're the lender or not. I guess I won't be working for them anymore, because I'm not an IDIOT!
If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Orange County, La Habra, La Habra Heights, Whittier, Brea, Fullerton, Anaheim, Placentia, Yorba Linda, La Mirada, Buena Park, Cypress, La Mirada, Hacienda Heights, or Norwalk. Feel Free to give me a call at 714.441.1987 (USA) or email me at wynng@roadrunner.com or visit my website at http://www.SoCalRealEstateBrokers.com
During my 18 years as a Residential Appraiser, I've met with many different Real Estate Agents; some of whom knew what they were doing, and many who didn't have a clue. I found them all making a lot of the same mistakes about how they approached me. Here are just a few recommendations.
1) Have the property ready for inspection, with all utilities on and keys to all areas.
2) If the Appraiser shows up late, don't blow your top, at least not until the report is completed.
3) Don't follow them around like a little puppy dog, if they were Felons they wouldn't be appraising.
4) Try to be nice, even if you're not a nice person, they're not there to evaluate your persona, but rudeness won't help your cause. If you feel that you have to question their ability, be witty about it.
5) Don't tell them "the buyer is going to fix that after the close of escrow," they couldn't care less.
6) Don't try to hide deferred maintenance, like covering it up with a rug, it will only make them look closer for other possible defects.
7) If you're going to provide the Appraiser with sale comps, take the time to go over them with them, not just to shove them at them. If you know what you're talking about, they'll likely appreciate it.
8) Don't quote what another Appraiser said, period. Whether it's about value or otherwise.
9) Don't promise them future business if they do you a favor. This won't likely apply now that HVCC is in effect, but Realtors and Loan Officers alike have used that one to death. I never bought it, ever.
10) Be patient. Calling them 1 or 2 days after the inspection will only push their button. Call them on the 3rd day, and be polite. As with any person you have to deal with, be professional, and polite.
If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Orange County, La Habra, La Habra Heights, Whittier, Brea, Fullerton, Anaheim, Placentia, Yorba Linda, La Mirada, Buena Park, Cypress, La Mirada, Hacienda Heights, or Norwalk. Feel Free to give me a call at 714.441.1987 (USA) or email me at wynng@roadrunner.com or visit my website at http://www.SoCalRealEstateBrokers.com
Anyone who can climb a ladder, and can see halfway decent can slop paint, so why does a painter have to have a contractors' license? Apparently the whole issue of having a contractors' license is for tracking. We wouldn't want folks going from house to house, faking accidents, and robbing people blind.
Most California Contractors don't have workers compensation on their workers anyway, and I don't know why anyone would allow them on their property. You might as well go down to Home Depot, and pick up a few illegals to do it. Just don't let them work for more than 52 hours, because then they can file a claim against your insurance company. Believe me, I've been there and done that.
If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Orange County, La Habra, La Habra Heights, Whittier, Brea, Fullerton, Anaheim, Placentia, Yorba Linda, La Mirada, Buena Park, Cypress, La Mirada, Hacienda Heights, or Norwalk. Feel Free to give me a call at 714.441.1987 (USA) or email me at wynng@roadrunner.com or visit my website at http://www.SoCalRealEstateBrokers.com
The word is that within 6 months or so, the major banks are going to start selling their current REO properties, and their delinquent/short sale properties in one process. Instead of paying an REO agent to list the property, they're going to produce a list of all their inventory, and delinquent properties, prequalify the buyers' and pay the commission to the agent who provides the buyer. Buyers agents are sure to be the beneficiaries.
If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Orange County, La Habra, La Habra Heights, Whittier, Brea, Fullerton, Anaheim, Placentia, Yorba Linda, La Mirada, Buena Park, Cypress, La Mirada, Hacienda Heights, or Norwalk. Feel Free to give me a call at 714.441.1987 (USA) or email me at wynng@roadrunner.com or visit my website at http://www.SoCalRealEstateBrokers.com
I purchased this artificial grass from Mirage Outdoor Concepts of Scottsdale Arizona, you can find them at: http://www.waterlessgrass.com/about.html It's German designed, and Chinese made. I did the homework already, and it's the best product available at this time. Unlike the artificial grass products made in Georgia, that have a black plastic backing, and holes for drainage; this product has a rubber backing, similar to a typical carpet, that allows the water to penetrate throughout. I purchased it directly from Mirage Outdoor Concepts about 9 months ago, and had a local gardener assist me in installing it. It's easy to install, you can find plenty of installation tips on the internet. It's expected to last 20 years according to their website. I figure that it'll pay for itself in half that time. It costs about $1,900 for this particular grade, for a roll 15 ft. X 100 ft. Don't allow them to send one of their local contractors out to install it, because it'll cost you thousands more. CALL THEM DIRECTLY, and tell them that you want the product shipped directly to you. Naturally, you can ask for a sample prior to making a purchase. Tips: Ask the shipper to cut the roll in half, because a 100 ft. roll is too heavy to move. Feel free to contact me if you have any other questions. Look at me, I'm gardener free!
If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Orange County, La Habra, La Habra Heights, Whittier, Brea, Fullerton, Anaheim, Placentia, Yorba Linda, La Mirada, Buena Park, Cypress, La Mirada, Hacienda Heights, or Norwalk. Feel Free to give me a call at 714.441.1987 (USA) or email me at wynng@roadrunner.com or visit my website at http://www.SoCalRealEstateBrokers.com
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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