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Old email archives - 4/2000
To get the very latest news,
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NOTE: some of the older links
may be out of date!
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Go to Edit, then Find in Page. Some of them have been edited from the
original to correct typos and new information! I have been sending them since June, 1994.
For information on sponsoring
these weekly emails (sent to over 30,000 appraisers), contact Ann O'Rourke at ann@appraisaltoday.com
or call 800-839-0227.
4/5/2000 - Apps up/PWC/YIPES/mysterious mortgages
New this week from Appraisal Today e-news
+ YIPES
+ Mysterious mortgages
+ PWC offering Appraisal Management services
+ Fiberoptics?
+ Delinquencies down
+ Loan apps up
+ Free Comps.com manuals
+ How to increase productivity without spending any money!
*************SPONSOR**********************
Advantage Property Services, Inc/AppraisalNet has combined a unique
franchise business model and cutting edge Business to Business (B2B) Web
technology to set the new standard of "high tech, high touch" service for
the mortgage lending industry. Check out our site @
http://www.apsonline.net .
******************************************
>>>>>>>>>>>>> YIPES <<<<<<<<<<<<<
Reader Doug Smith from Southwest Montana recently took a class in Northern
California (Petaluma) and asked a few Northern CA appraisers about YIPES
when he saw a bulletin entitled "Housing Crisis in Silicon Valley." and
suggested YIPES as a name for the trend. Below is his info on YIPES.
"YIPES is the next new appraisal acronym. YIPES labels the trend where
list/sell ratios exceed 100%. I understand this is reaching crisis
proportions in Silicon Valley as houses are bid up over listing prices."
"The trend and second level acronym (yuppie is already an acronym) is
"YIPES" or "Yuppies in Pursuit of Expensive Shelter." Yipes is listed on
the URAR sale grid as "List/Sell Ratio " and is an adjustment that is
calculated after separating the site cost by matched pairs of non yipes
sales and yipes sales. Yipes is expressed as a percentage increase by
square foot of GLA. In a fast moving market, this will enable the appraiser
to adjust sales upward for yipes instead of applying a time adjustment. A
matched pair analysis must be done to determine if a list/sell ratio
adjustment is required for site costs. In some cases, particularly in
Silicon Valley, site location may require a percentage adjustment that
might exceed the adjustment required of the improvements. In the case of a
site adjustment, the buyer's employers' NASDAQ company symbol of each of
the comparables must be shown on a location map."
>>>>>>>>>>>>> MYSTERIOUS MORTGAGES <<<<<<<<<<<<<
An interesting review of a study ("The Uncanny World of the Real Estate
Mortgage") by Deutsche Banc/Alex E. Brown on e-finance at
http://www.rismedia.com/news.page/24/10924/ plus a link to the full report.
Lots of players are jumping into this market, including Microsoft. "This
report on the mortgage industry seeks to demystify some of the current
problems the vast mortgage industry faces. The authors feel that the
industry faces two key challenges -- a weak information infrastructure and
a lack of price discovery."
>>>>>> PWC OFFERING APPRAISAL MANAGEMENT SERVICES <<<<<< PricewaterHouse
Coopers has expanded its appraisal services by offering commercial appraisal management. For info, go to
http://www.pwcglobal.com/extweb/industry.nsf/docid/9AE7813FA377B51E85256825
0 06DCB9E . FYI, the Big 6 accounting firms are one of the few companies
hiring MAIs. Thanks to ever-vigilant Michael Cartwright for this link!
>>>>>>>>>>>>> FIBEROPTICS? <<<<<<<<<<<<<
Okay, I got my DSL, I got my cable. Fiberoptics?? To find out more, go to
http://www.zdnet.com/anchordesk/story/story_4593.html
>>>>>>>>>>>>> DELINQUENCIES DOWN <<<<<<<<<<<<<
Mortgage delinquencies nationwide scored their largest decline in more than
four years, falling 17 basis points to 3.93 percent during the fourth
quarter of 1999, according to the National Delinquency Survey (NDS) released
today by the Mortgage Bankers Association of America (MBA). The decline in
the delinquency rate in the fourth quarter continues a downward trend that
began in the second quarter of 1998. The delinquency rate has fallen 49
basis points over this period and is now at its lowest level since
registering 3.92 percent in the first quarter of 1995. Moreover,
foreclosures started were near decade lows and the inventory of loans in
the foreclosure process remained at its lowest level since the second
quarter of 1996.
>>>>>>>>>>>>> LOAN APPS UP <<<<<<<<<<<<<
The Mortgage Bankers Association of America (MBA) released its Weekly
Mortgage Application Survey results last Wednesday, reporting that mortgage
loan applications for the week ending March 24 increased 6.8 percent from
last week. Compared to the same week last year, loan applications were down
16.2 percent.
The MBA seasonally adjusted Purchase Index increased from 293.5 the
previous week to 312.2; the seasonally adjusted Refinance Index increased
from 346.2 the previous week to 386.6. Other seasonally adjusted index
activity included the Conventional Index, which increased from 365.1 the
previous week to 397.7 and the Government Index, which increased from 194.6
the previous week to 198.5.
Why? Mortgage rates below 8 and a wildly gyrating stock market!
>>>>>>>>>>>>> FREE COMPS.COM MANUALS <<<<<<<<<<<<<
Thanks to reader Barry Alperin, MAI & ASA for this info!: Many appraisers
recently paid $90 to $200 for conversion to Spectrum on their Comps Inc.
service. They were not given manuals. A 99 page users manual is available
from Comps.Com. All appraisers who recently paid for Spectrum should have
received the 99 page Spectrum 3.5 Quick Start Guide. If you did not
receive a manual when you paid for the new service call (800) 821-1573 or
(858) 684-3227 or (858) 684-3277.
If you have comments about the way the Spectrum was marketed or the recent
changes in services call the new owners (CoStar) at (301) 215-8300.
Ed note: CoStar's market was real estate brokers prior to their purchase of
comps.com. They provide a relatively expensive listing service for office
space and wanted to expand into other services. Prices on their online
e-comps service has increased from $18 to $24 per comp under $5,000,000.
>> HOW TO INCREASE PRODUCTIVITY WITHOUT SPENDING ANY MONEY! << Appraisers sell their time. The more appraisals you produce, the more money you make.
But...let me see... EDI, computers, digital cameras all cost money. You can
increase your production for free... well... you do have to change a few
bad time wasting habits. For an article I wrote, go to
http://www.appraisaltoday.com/timemgmt.htm
.
Here's one of the tips: An extremely valuable time management tool is a
"to-do" list. Without one, you drift through the day, "putting out fires"
and not really accomplishing what you wanted to. You cannot do everything.
Some tasks will not be done. Start your day with a to-do list (or do it as
the last thing you do at the end of the day before.)
For more business management articles, go to
http://www.appraisaltoday.com/biztips.htm
.
For info on my business management Reprint Series, go to
http://www.appraisaltoday.com/reprints.htm
. No time to read? I also have
info on appraisal business audiotapes at the same link. Or, call
800-839-0227 and we'll send you a brochure.
4/12/00 ABNet going down/Good Appraiser/CA appraisers
New this week from Appraisal Today e-news
+ "Good" FHA Appraiser on TV
+ Get info on CA appraisers
+ Last minute Tax Tips
+ Rates drop/apps up?
+ My First Online Survey - cable, DSL, ISDN, or dialup?
+ ABNet going down
+ Another free appraiser email newsletter
+ FHA roster removal rules
*************SPONSOR**********************
Advantage Property Services, Inc/AppraisalNet has combined a unique
franchise business model and cutting edge Business to Business (B2B) Web
technology to set the new standard of "high tech, high touch" service for
the mortgage lending industry. Check out our site @
http://www.apsonline.net .
******************************************
>>>>>>>>>>>>> "GOOD" FHA APPRAISER ON TV <<<<<<<<<<<<<
Appraisers are reporting viewing a TV ad for FHA where an appraiser is
prominently featured. Per Don Clark, posting at
http://www.naifa.com/chat/hud/index.cgi
,
" It starts by showing a young minority couple in their new home
celebrating. Husband pops the cork on a champaign bottle, cork hits a light
fixture, ceiling starts to crack, walls start to crumble, cut to a picture
from outside showing a nice cape style home imploding in on itself and in
the background the wife screaming. Cut to the husband waking his wife up
and telling her something to the effect "it will be ok, the appraiser is
INSPECTING the home today". Cut to a studious looking white male appraiser
looking at the house, touching the walls, a clipboard in hand with a form
that says FHA(HUD)Appraisal Report. In the background an announcer is
reassuring the public that when you buy a HUD appraised home you can be
sure it is in good condition because it has been inspected by an
APPRAISER."
Appraisers, of course, are in two camps. Those that like to see an
appraiser in a positive message instead of part of a mortgage scam, and
those who are worried home buyers will think the appraiser is doing a home
inspection.
If you have this ad on tape, please let me know at 800-839-0227 or email
mailto:ann@appraisaltoday.com . Your name will be in print, I will pay for
all shipping and copies, and you will receive a suitable reward!! FYI there
are different versions of the TV ad.
>>>>>>>>>>>>> GET INFO ON CA APPRAISERS <<<<<<<<<<<<<
The California Office of Real Estate Appraisers updates their website about
once a week now. I just checked to see whose licenses had been revoked (of
course). Check it out at http://www.orea.ca.gov/html/lic_appraisers.html
>>>>>>>>>>>>> LAST MINUTE TAX TIPS <<<<<<<<<<<<<
April 15 is almost here! (Well... actually April 17 as April 15 is on a
Saturday.) Assuming you are actually filing a return on April 15 (and not
extending to October, like me) here are a few good web sites: -
www.irs.gov - IRS web site - one of the best govt. web sites. I love that
Digital Daily - always good for a laugh!! - http://www.1040.com/ - 1999
changes and lots of tax forms in PDF format
I couldn't find any sites with lots of searchable free information except
the IRS site. Guess you just have to buy a tax book or tax software!
>>>>>>>>>>>>> RATES DROP/APPS UP? <<<<<<<<<<<<<
The Mortgage Bankers Association of America (MBA)released its Weekly
Mortgage Application Survey results last Wednesday, reporting that mortgage
loan applications for the week ending March 31 decreased 7.3 percent from
last week. Compared to the same week last year, loan applications were down
20.7 percent.
Monday, rates for fixed rate 30 year mortgages have dropped to 7.86 percent
per bankrate.com. Loan apps should go up this week.
>> MY FIRST ONLINE SURVEY - CABLE, DSL, ISDN, OR DIALUP? <<
I finally have my first online survey at http://www.appraisaltoday.com/ .
It just takes a few seconds to take!
Lots of appraisers are getting fast Internet access. I have both DSL
(office) and cable (home). A reader called me on the phone last week asking
about appraisers' Internet access and I finally had a topic for a quick,
easy survey... I plan on doing more of them. The results will be reported
here first, of course...
If you prefer, you can just hit the return button and type in the access
you have, or accesses if you have more than one (I have three).
For a forecast on DSL (and a fun online quickie survey) go to
http://cgi.zdnet.com/slink?/adeska/adt0410ba/4663:749925
For more info on broadband, go to
http://www.zdnet.com/anchordesk/story/story_4664.html
>>>>>>>>>>>>> ABNET GOING DOWN <<<<<<<<<<<<<
In a letter dated April 3 sent to its appraiser creditors (and others),
ABNet LLC "plans to sell its assets to a consortium, which at this time
includes the Appraisal Institute, within the next 60 days. Meanwhile ABNet
lacks sufficient cash flow to pay its debts, including debts owed to member
appraisers" ... "ABNet proposes an orderly cost-effective non-bankruptcy"
workout... Per the letter, ABNet needs approval by a "substantial number of
its creditors" otherwise it plans to file for Chapter 11 protection. Per
ABNet, the workout will allow it to have more money to pay off its
creditors, as there are costs when going the bankruptcy route.
We can all learn a lesson from ABNet's failure. The typical reasons for
most failure for most firms, including appraisal firms, are
undercapitalization and inadequate (or poor) management.
I have posted three articles I have written on financial management at
http://www.appraisaltoday.com/biztips.htm
(scroll down the page to
financial management) - How To Increase Cash Availability - 51 Ways to Cut
Costs and Increase Cash Flow - Collections - collecting past due billings
FYI, these articles apply to all appraisal firms, from one appraiser to
hundreds of appraisers. I have been reporting on ABNet since before it
started and hate to see it go down, especially since they owe appraisers
money.
Lots more info on ABNet in my "paper" newsletter, Appraisal Today, of
course!! To subscribe for $99 per year ($149 for 2 years) or get a sample
issue, call 800-839-0227. For an order form, go to
http://www.appraisaltoday.com/orderfrm.htm
.
>>>>>> ANOTHER FREE APPRAISER EMAIL NEWSLETTER <<<<<<
This email is sent out every Wednesday by e-appraiser at
http://www.e-appraiser.net to over 40,000 appraisers.
I also have an "in house" list I have compiled over the past 5+ years with
about 3,000 appraiser email addresses. Every week on Friday, I send out a
duplicate of this email plus the latest news, for example, ABNet. I also
send out special emails once or twice a month. Two weeks ago I sent out a
Special Report on Appraisal Incomes with more information than I included
in the Wednesday emails. Now that I am on DSL, sending out the 3,000 emails
takes less than a minute!
To sign up for my Appraisal Today "in house" list, go to
http://www.appraisaltoday.com or send email
to
mailto:info@appraisaltoday.com , or call 800-839-0227.
>>>>>>>>>>>>> FHA ROSTER REMOVAL RULES <<<<<<<<<<<<<
HUD: FINAL RULE - Appraiser roster; placement and removal procedures was
published in the 4/5/2000 Federal Register. (effective date: 5/5/00) Go to
http://www.bankinfo.com/040500.pdf
Thanks to ever-vigilant Michael
Cartwright for this link!
4/19/00 Web biz up/sample reports/eChat
New this week from Appraisal Today e-news
+ Lots of maps online
+ Oregon and agent/broker valuations
+ O'Rourke eChat - future of appraising
+ March ASB Q&As - sample reports etc.
+ Appraisal Web biz up
+ Marketing is not selling
+ FHA ad - lost and found
*************SPONSOR**********************
COMMERCIAL APPRAISERS: DCF software for Excel $99! Powerful Discounted Cash
Flow Analysis software for a fraction of the price of Argus. Forecast
specific lease terms with ease - view forecasts graphically. Automatically
graphs leases, expenses, before and after debt NOI, internal rate of
return, and much more. Download FREE trial version: http://www.atvalue.com
.
@Value ~ Simply Powerful.
******************************************
>>>>>>>>>>>>> LOTS OF MAPS ONLINE <<<<<<<<<<<<<
Lots of maps online Check out Arc Data Online at
http://www.esri.com/data/online/
for lots and lots of maps. Thanks to Peter
Pike's newsletter for this tip! http://www.pikenet.com
. This site is
particularly useful for commercial appraisers.
>>>>>>>>>>>>> OREGON AND BROKER VALUATIONS <<<<<<<<<<<<<
Oregon has a mandatory law for appraisers. (Well... there are a few
exemptions). Real estate agents and brokers without appraisers licenses
can't legally do an appraisal for a fee. Seems like Chicago Title/Market
Intelligence has been using nonlicensees for valuations in Oregon and got
slapped with a fine. I will be getting a copy of the "fine" letter later
this week. Full info in the May issue of Appraisal Today. This story has
quite a history, which I have been following for awhile.
The issue of whether or not (and how) providing 3 comps but no value falls
under USPAP is more controversial.
Appraisers could do the appraisals, of course, but who wants to work for
$50 or so? I am still trying to interview one of the agents/brokers who is
making lots of money doing these... I have been trying, off and on, since I
wrote an article in my November, 1996 newsletter, Real estate brokers and
appraisals.
Of course, I'm here in California where anyone breathing can do an
appraisal, except for loans $250,000 and higher. One of my biggest local
competitors is a real estate broker who puts his prices in his Yellow Page
ads.
>>>>>>>>>> O'ROURKE ECHAT - FUTURE OF APPRAISING <<<<<<<<<<<
If you missed last Tuesday's echat, with Guest Ann O'Rourke, it is recorded
at at http://www.e-appraiser.net/
Scroll down the left side of the page and
click on Guest Speakers. The topic? What's the future of appraising. Will
appraisers become an endangered species? Some interesting comments!
>>>>>>>>>>>>> MARCH ASB Q&AS - SAMPLE REPORTS ETC. <<<<<<<<<<<<< The March
ASB Q&As are at https://www.appraisalfoundation.org/2000-3qa.htm
. Topics
are signatures on form reports, sample reports, and oral reviews. The
sample reports Q&A is worth reading. A "paper" copy will be sent out with
the May Appraisal Today newsletter.
>>>>>>>>>> APPRAISAL WEB BIZ UP <<<<<<<<<<<
Dot com is finally hitting the appraisal market. In the past two weeks I
have gotten a PMI appraisal and a request for two commercial appraisals
(Had to refer the comml appraisals to someone else as I am too backed up.)
Both prospects got my name off the Internet. Neither could remember quite
where. I have spoken with another appraiser who got a big commercial job
off the Internet and he doesn't even have a web site! See what happens when
you type in "Appraiser in (insert the name of your city". When I type
appraiser in Alameda, my web sites shows up. Try http://www.profusion.com
and http://www.yahoo.com . If your web site doesn't show up, you need to
change your metatags and page titles.
If you have any Internet success stories, please send them. Just hit the
reply button! I am planning on an article on Internet jobs in my Appraisal
Today "paper" newsletter. You may see your name in print.
To see what other appraisers' web sites (over 300 are listed) look like, go
to http://www.appraisaltoday.com/applinks.htm
If you don't have a web site, and wants some tips, go to
http://www.appraisaltoday.com/apprco.htm
- How to get your appraisal firm
on the Internet.
>>>>>>>>>> MARKETING IS NOT SELLING <<<<<<<<<<<
Business is down for many residential appraisers. To read the first chapter
of my Marketing for Appraisers Book - "Marketing is not selling," go to
http://www.appraisaltoday.com/mfa1.htm
.
To get lots of other marketing tips, go to
http://www.appraisaltoday.com/marketing.htm
, plus info on my marketing
books plus some FREE marketing articles. Or call 800-839-0227.
>>>>>>>>>> FHA AD - LOST AND FOUND <<<<<<<<<<<
I just about gave up on actually seeing the FHA commercials. Seems like I
just missed it on JAG last week. (It was a rerun). Never saw it on cable
either. A couple of appraisers said they had taped it but hadn't sent me
the tape yet and I was working on deadline for my newsletter.
After reading many emails about what is in the new FHA commercials which
featured an appraiser and had something about a flood or a collapsed house
or a fish, I finally contacted HUD who gave me the phone number of their ad
agency, who graciously gave me the times when the ad was to run on network
TV. The cable TV showings don't have any particular times.
The "water pipe broken" ad showed on April 16 (Sunday) evening on Dateline.
The other ad will show April 22 (Saturday) evening on Martial Law. Check
your local station for times. Sometimes a scheduled commercial is run at
another time... so don't call me if it isn't run during the show!!! Here's
the other scheduled times: May 2 - JAG May 5 - Good Morning America, Today,
and NBC Nightly News May 7 - Dateline
If you subscribe to my "other" email newsletter list, you received the
notice Saturday about the Sunday showing. If you want to subscribe to my
email newsletter list for the latest hot news, send email to mailto:
info@appraisaltoday.com or go to http://www.appraisaltoday.com/free.htm .
This email you are reading is scheduled for every Wednesday and sent out by
e-appraiser, using an automated mail program. My "inhouse" list is much
smaller and I use Eudora, so I can sent them out whenever I want as it
takes only a couple of minutes.
Many, many thanks to appraiser Rob Bartos, SRA, Canton, Conn., who sent me
the commercial that ran during JAG. He will receive a Very Special O'Rourke
Appraiser Award!!!
I will have a description of both ads in the May issue of Appraisal Today,
plus info on NAR's FHA appraiser research (including fees) and a summary
the new Roster removal procedures. To subscribe to my newsletter, call
800-839-0227, or printout an order form at
http://www.appraisaltoday.com/orderfrm.htm
. Sorry I can't "give it all
away" as my paid subscribers would get pretty mad!!
When was an appraiser portrayed in a positive way on TV? Someone told me
about a TV movie where an appraiser was a murderer, and there have been
mortgage scams where appraisers were involved. FYI, FHA appraisers are
supposed to protect the buyer and the lender.... in contrast with
conventional lending...
You can post your comments on the commercials at
http://www.naifa.com/chat/hud/index.cgi
in the HUD chat room.
3/30/00 - Special report - appraiser income
>
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>
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>
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>a recent review in the Mortgage Originator magazine:
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>
>++++++++++++++++++++++++++++++++++++++++++++++++++++++++
>1997 "all appraisers" survey
>
>A national survey was mailed to 1,200 appraisers in September, 1997.
>Here are some of the numbers:
>
>Annual Income Avg. - $58,132, Min- $12,500, max- $225,000
>Experience in years = Avg - 17, Min. -3, Max - 52
>Bachelor's degree - 56%
>Master's degree - 10%
>Certified residential - 37%
>Certified general - 51%
>Male - 80%
>Minority - 6%
>Company owner - 56%
>
>According to this survey, who makes the most money? Men with bachelor's
>degrees, with MAI designations and many years of experience. Here are the
>factors that affect income:
>- Experience - about 1.6 to 1.9% increase for each year
>- Firm ownership - about 13% increase in income
>- Education
> Bachelor's degree - 12% increase
> Master's degree - no significant effect
>- Level of state certification- - Residential certified - 22% increase over
>state licensed // General certified - 18% increase over state licensed
>- Appraisal Institute designation
> SRA or RM - 18% increase
> MAI - 26% increase
>------------------------------------
>1998 survey results - residential appraisers
>The same researchers from Washington State University sent questionnaires
>to a national random sample of 4,000 real estate appraisers that included
>1,000 SRAs and 3,000 appraisers listed on the national registry of
appraisers.
>
>The results showed that statistically, SRAs earned an average of 26 percent
>more, or about $13,000 gross annually, compared to their non-SRA
>counterparts. This is the statistical difference in income just for the SRA
>designation.
>
>Here are the numbers (avg. For all appraisers)
>Cert. Gen. - 29.8%
>Cert. Res. - 55.3%
>Licensed - 14.5%
>
>Age - 47.3
>Male - 76%
>Firm owner - 75.1%
>Years of exper.- -14.6
>-------------------------
>Report types
>
>URAR - 69.9
>ERC - 2.8%
>2055 - 5.9% (int. Insp)
>2055 - 3.7% (ext. Insp)
>1025- 3.0% (2-4 units)
>2075 3.6% (inspection only)
>Field review - 3.0%
>Desk review - 2.4%
>-----------
>Types of clients - all appraisers
>Lending instit. - 42%
>Mort. Companies - 32.5%
>Reloc. Companies - 3.2%
>Appr. Mgmt. com. - 6.9%
>Attorneys - 4.2%
>Individuals - 5.7%
>---------------------
>What correlates the highest with residential appraiser income?
>The study analyzes the differences between the low quartile ($45,000 gross
>income or less) and the high quartile ($120,000 gross income and higher).
>
>Higher income appraisers tend to be younger than low income appraisers, and
>are more apt to be male, firm owners,located in an urban county, to have a
>bachelor's degree, to hold a general certificate.
>
>They are less likely to be affiliated with a firm providing nonresidential
>appraisal services and more likely to be affiliated with a firm providing
>review appraisal services or providing litigation support and expert
>witness services or a firm providing counseling and consulting services.
>High income residential appraisers also spend more time doing litigation
>work, reviews, consulting, and office and personnel management. They are
>also more likely to appraise high priced homes, use digital cameras, use
>email and a company or personal web site, use sketching and form filling
>software, and use MLS computerized data. SRAs are more likely to be in the
>high income quartile than the low income quartile (61.9% v. 22.9%).
>-------------------
>=======================
>This is an abbreviated version of the "full' article in the April issue of
>Appraisal Today "paper" and PDF newsletter, which includes info on staff
>salaries and technology use. To get the "full story," subscribe to my
>monthly "paper" Appraisal Today newsletter for $99 per year ($149 for 2
>years), call 800-839-0227 or fax 800-839-0014 (credit card orders) or send
>your check to the address below. For an order form, go to
>http://www.appraisaltoday.com/orderfrm.htm . For more information on the
>newsletter or to order a sample issue, go to
>http://www.appraisaltoday.com/amm.htm or use the Appraisal Today phone/fax
>numbers at the end of this email.
>
>Ann O'Rourke, MBA, SRPA, SRA, looking for a pay raise!!
>Appraiser and Publisher of Appraisal Today newsletter
>2015 Clement Ave.
>Alameda, CA 94501
>mailto:ann@appraisaltoday.com
>phone: 800-839-0227//fax: 800-839-0014
>http://www.appraisaltoday.com for appraisal news, info, and a few jokes!
4/26/00 $444,500 fine/new humor/broker licensing/utilities
New this week from Appraisal Today e-news
+ FHA manual in PDF format
+ New humor at appraisaltoday.com
+ Mortgage broker licensing
+ New commercial broker group formed
+ Housing starts down 11.2% in 1 month
+ New this month in Appraisal Today
+ Loan apps down
+ Utility download reviews
+ Oregon fines Chicago Title-Market Intelligence $444,500
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>>>>>>>>>>>>> FHA MANUAL IN PDF FORMAT <<<<<<<<<<<<<
Searchable! It is on my FHA page at http://www.appraisaltoday.com/fha.htm .
Thanks to Shannon Julian for sending it to me! I read about it on the great
Total2000 email list. To join, go to
http://www.onelist.com/subscribe/Total2000UsersGroup
and follow the
instructions
>>>>>>>>>>>>> NEW HUMOR AT APPRAISALTODAY.COM <<<<<<<<<<<<<
New humor at appraisaltoday.com I have six new jokes/humor plus all the old
ones at http://www.appraisaltoday.com/humor.htm
- The Appraisal Humor Page!
>>>>>>>>>>>>> MORTGAGE BROKER LICENSING <<<<<<<<<<<<<
Find out which states license mortgage brokers (as of 1/98) at
http://www.loanlaw.com/frames/publications/articles/mortbrokreg.html
.
Scroll down the page for the table link. Thanks to Michael Cartwright for
this great link!
>>>>>>>>>>>>> NEW COMMERCIAL BROKER GROUP FORMED <<<<<<<<<<<<<
Commercial real estate brokers are trying to keep up with technology and
globalization. NAR recently formed the Realtors Commercial Alliance. For
more info, go to http://realtytimes.com/rtnews/rtcpages/20000420_narperspective.htm
>>>>>>>>>>>>> HOUSING STARTS DOWN 11.2% IN 1 MONTH <<<<<<<<<<<<< Seems like
economists are predicting more rate hikes. "Surveys conducted in March and
April by the National Association of Home Builders indicate that builders
are less optimistic about sales expectations for new single-family homes.
The culprits: higher mortgage rates and shortages of skilled labor and
finished lots for development." For the full story, go to
http://www.rismedia.com/news.page/24/11095/
>>>>>>>>>>>>> NEW THIS MONTH IN APPRAISAL TODAY <<<<<<<<<<<<<
The May issue of "paper" newsletter Appraisal Today's articles -
- How to get more business using Yellow Page ads - yes, you can get good
business from the Yellow Pages
- Residential appraising - Wall Street, computer nerds, donuts, and 100
year old appraisers? A very different view by Frank Lucco, SRA
- Threatened with a lawsuit? A call in time may save your peace of mind! It
worked for me!
- FHA news - appraiser on TV, Roster removal, fee changes
- ABNet AMC goes down - all the story - I interviewed the main people
- Oregon fines Chicago Title-Market Intelligence - the whole story
- Marketing tip - dropping prices. Controversial, but it can work.
- The Greatest Real Estate Movies of All Times - gotta have something
different in the newsletter!
If you don't already subscribe .... To subscribe to my monthly "paper"
Appraisal Today newsletter for $99 per year ($149 for 2 years), call
800-839-0227 or fax 800-839-0014 (credit card orders) or send your check
(made out to RECR) to 2015 Clement Ave., Alameda, CA. For an order form, go
to http://www.appraisaltoday.com/orderfrm.htm
. For more information on the
newsletter or to order a sample issue, go to
http://www.appraisaltoday.com/amm.htm
, call, or fax (use numbers above).
>>>>>>>>>>>>> LOAN APPS DOWN <<<<<<<<<<<<<
The Mortgage Bankers Association of America (MBA) released its Weekly
Mortgage Application Survey results last Wednesday, reporting that mortgage
loan applications for the week ending April 14 decreased 4.5 percent from
last week. Compared to the same week last year, loan applications were down
23.6 percent.
The MBA seasonally adjusted Purchase Index decreased from 316.6 the
previous week to 300.8; the seasonally adjusted Refinance Index decreased
from 364.2 the previous week to 354.8. Other seasonally adjusted index
activity included the Conventional Index, which decreased from 393.4 the
previous week to 378.7 and the Government Index, which decreased from 207.1
the previous week to 192.0.
For more info, go to http://www.mbaa.org
. FYI, this is a great site for
mortgage info!!
>>>>>>>>>>>>> UTILITY DOWNLOAD REVIEWS <<<<<<<<<<<<<
For reviews and ratings on lots of utility downloads, go to
http://cgi.zdnet.com/slink?/adeska/adt0421ba/4711:749925
Here are some of the categories -
Free online storage
Palm tools
System diagnostics
Screen savers
Bookmark managers
Plus lots more!!
>>>> OREGON FINES CHICAGO TITLE-MARKET INTELLIGENCE $444,500 <<<<
I finally have the straight scoop on Oregon's fining Chicago Title-Market
Intelligence (CTMI) $444,500. It is because they used real estate brokers
without appraiser licenses to complete their Field Asset Verifications
(form with a value), a violation of Oregon laws, as Oregon is a mandatory
state. Per CTMI, they quit doing them in the summer of 1999. But then
started up again in March, 2000, per Oregon. Thus the fine. Oregon says
AVMs are okay. Lots of misinformation out there... Don't believe everything
you read. The full story in the May issue of Appraisal Today, of course.
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