7-28-16 Newz Origin of tiny houses – HUD warning letters – FHA transfers

The Surprising Origins of the Tiny House Phenomenon

Why ancient hermits are the key to understanding our tiny home obsession

Excerpts”

Invariably, someone will remind you that civilization emerged from tiny houses-caves, yurts, tents, wigwams, igloos, grass huts, and so forth.

These early antecedents are beside the point. Sioux, Samoans, and Inuits were not offered more spacious alternatives. But people who opt for tiny houses-meaning the kind that tug at heartstrings and star on cable-generally choose to live small. The reasons aren’t just practical, but also ethical and emotional.

the true parents of tiny-house living are hermits. From the ancient Chinese Taoists in mountain caves to the Desert Fathers of third century Christianity and onward (the word “hermit” derives from the Greek word for “desert”), hermits were the first people to actively downsize to confined, remote, and minimally furnished living spaces.

Read the full story here:

http://www.curbed.com/2016/7/13/12162832/tiny-house-history-hermits

My comment: The most interesting article I have read on tiny houses. Of course, I started sailing sailboats in the early 1970s. Living aboard a sailboat is the Ultimate Tiny House!! Narrow and long but very portable… Another good link from Jonathan Miller…

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FHA Case Transfer, issued July 26, FHA INFO #16-49

Mortgagees should note the following about case transfers relative to appraisal reports in both the EAD (electronic appraisal delivery) portal and FHAC:

Read more!!

7-21-16 Newz//Bracketing-AMC staff appraisers-Appraiserville

8 Spooky New York Places That Should Be in the New Ghostbusters Movie

There’s something strange in these neighborhoods.

Excerpt: Here is one, but you gotta see the photos and the other 7!!

The Morris-Jumel Mansion

On a hill overlooking the Harlem River, the stately Morris-Jumel mansion is not only Manhattan’s oldest home but supposedly one of its most haunted. Its macabre history started after owner Stephen Jumel died in 1832. His wife Eliza was rumored to have had a hand in the death-there was some suspicion afoot that she orchestrated the carriage accident that killed him….

Take a break from typing appraisal reports and check it out!!

http://www.atlasobscura.com/articles/8-spooky-new-york-places-that-should-be-in-the-new-ghostbusters-movie

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The Shrinking of the American Lawn

As houses have gotten bigger, yard sizes have receded. What gives?

Excerpts:

The American house is growing. These days, the average new home encompasses 2,500 square feet, about 50 percent more area than the average house in the late 1970s, according to Census data. Compared to the typical house of 40 years ago, today’s likely has another bathroom and an extra bedroom, making it about the same size as the Brady Bunch house, which famously fit two families.

This expansion has come at a cost: the American lawn.

As homes have grown larger, the lots they’re built on have actually gotten smaller-average area is down 13 percent since 1978, to 0.19 acres. That might not seem like a lot, but after adjusting for houses’ bigger footprints, it appears the median yard has shrunk by more than 26 percent, and now stands at just 0.14 acres. The actual value lies somewhere between those two numbers, since a house’s square footage could include a second (or third) floor. Either way, it’s a substantial reduction.

Read the full story at: Very interesting!!

http://www.citylab.com/navigator/2016/07/the-shrinking-of-the-american-lawn/490157/

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There Go My Brackets

From the Illinois Appraiser June 2016

Excerpt:

Is it a USPAP violation to fail to bracket or end up with a tight bracket?

Read more!!

Bracketing and USPAP

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There Go My Brackets
From the Illinois Appraiser June 2016
Excerpt:
Is it a USPAP violation to fail to bracket or end up with a tight bracket?

USPAP is silent on bracketing. For that matter, so is Illinois law. Here’s what Fannie Mae says;
“When there are no truly comparable sales for a particular property because of the uniqueness of the property or other conditions, the appraiser must select sales that represent the best indicators of value for the subject property and make adjustments to reflect the actions of typical purchasers in that market.”

Not a word about bracketing.
While comforting for an underwriter to see the collateral fall snugly into place, bracketing is still a guideline. This hasn’t stopped AMCs and lenders from complaining to the Board about missed brackets or huge ranges. There just isn’t a law against having a sloppy bracket, nor should there be.

Something else from Fannie Mae;
“It should be noted that the indicated value in the Sales Comparison Approach must be within the range of the adjusted sales price of the comparables that are reported in the appraisal report form.”

Read here for the full article:

Check out the other very interesting articles such as AMC fair housing Myths and Evaluations. Link to original newsletter.

My comment: I have never “bracketed” anything except the value, when I used to do appraisals for Fannie Mae loans. I have no idea why lenders are requiring bracketing for everything with an adjustment. Just another Stupid Scope Creep I guess. Works ok in conforming tracts with lots of sales and minimal adjustments, but goes downhill quickly after that. Of course, the entire appraisal review-by-computer assumes that all houses are in conforming tracts. As do the Fannie forms, of course.
AT_final_rev_newslet

7-15-16 Newz//CU Crumbles-Refi mania-Urbanization since 3700 BC

The history of urbanization, 3700 BC – 2000 AD

Watch as the world’s cities appear one-by-one over 6,000 years

Fascinating!! Take a break from appraising and check this out!!

By 2030, 75 percent of the world’s population is expected to be living in cities. Today, about 54 percent of us do. In 1960, only 34 percent of the world lived in cities.

Urbanization didn’t begin in the 1960’s. But until recently, tracking its history much further back than that was a challenging task. The most comprehensive collection of urban population data available, U.N. World urbanization prospects, goes back only to 1950. But thanks to a report released last week by a Yale-led team of researchers, it’s now possible to analyze the history of cities over a much longer time frame.

http://metrocosm.com/history-of-cities/

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419.99 Mile Marker

Just For Fun

When zealous marijuana enthusiasts kept stealing the “Mile 420” highway marker, the State of Colorado got creative.

Another obscure factoid from atlasobscura.com ;>

Since the recreational use of marijuana was made legal in Colorado in 2012, the “Mile 420” post became a hot commodity. So hot, it kept disappearing – and the Colorado Department of Transportation got tired of replacing it.

Check out the photos (and try not to click on too many of the other weird stuff) at:

http://www.atlasobscura.com/places/41999-mile-marker

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Refis skyrocketing per Zillow – Brexit

Read more!!

7-7-16 Newz// Comp photos cost -Tech trends in 1776-Data and Scottish Scoundrel

The Scottish Scoundrel Who Changed How We See Data

When he wasn’t blackmailing lords and being sued for libel,

William Playfair invented the pie chart, the bar graph, and the line graph.

Excerpts:

Today, graphs and charts are seen as more efficient than words, letting us gulp information rather than sip it. For a large chunk of European history, though, this was far from the case. As statistician Howard Wainer explains in Graphic Discovery, 18th century academics actually looked down their noses at anything that resembled a picture.

Into this void stepped Playfair, a man with very little regard for tradition. Born in Scotland in 1759, Playfair was a kind of Forrest Gump of the Enlightenment, rubbing shoulders with the era’s many giants, switching careers at the drop of a hat, and throwing himself headlong into history-changing events, from the storming of the Bastille to the settling of the American West.

His graphical inventions, like many of his endeavors, were inspired by a certain disrespect for limits. He wasn’t so much an inventor as an intellectual remixer, taking bits and pieces of different people’s ideas and piecing them together into useful wholes.

http://www.atlasobscura.com/articles/the-scottish-scoundrel-who-changed-how-we-see-data

My comment: Fascinating! Plus a very entertaining writeup. Another good one from www.AtlasObscura.com – one of my favorite web sites!!

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8 Hottest Tech Trends in 1776

1. Underwater Warfare

4. Indoor Plumbing

5. High Tech Major Appliances

Read more!!

What does it cost to take appraisal comp photos?

In general, how much do you think the requirements of taking comp photos increases the cost of completing an appraisal? www.appraisalport.com poll
My comments: Comp photos are very controversial, especially with the availability of google (including historic photos), mls, Zillow, etc. Interesting results. Don’t know if this includes blurring out personal items, people, dogs, etc. Maybe includes driving time (non-rural of course) and downloading and filing photos. At least we don’t have to spend lots of money on photo processing plus time going to and from the store any more!!

I am not sure why, but lots of appraisers don’t like to take comp photos. USPAP certainly does not require it. I always do, even if I have taken a photo before, because I can’t remember what was near the comp, condition, etc. I always remember it when I used hear about it when speaking at Canadian appraisal conferences. At that time, appraisers were not required to put comp photos in their lender appraisals. They told me “I know that area very well.” Or, “I drove by it XX years ago.”

Previous Appraisalport polls on comp photos
6/2/15 – analysis of 3 comp photo polls – Comp Photos and MLS, Fannie, USPAP, etc.
Plus read the comments.