A Tour of the World’s Most Unrepentantly Modern Churches

Worship at the altar of striking architecture.
Excerpt: Outside the town of Almadén, in central Spain, nestled on a scrubby hillside, there is a chapel. You’d be forgiven for thinking it is an art gallery, or perhaps a particularly modern-looking winery, or the home of an eccentric tech mogul. Planes of concrete fold into one another, creating elegant, severe triangular surfaces that frame a wooden doorway marked by tapering planes of glass. But inside there is only sunlight-and a cross. Known as the Valleaceron Chapel, it was designed for the property by the architecture firm S-M.A.O. in 2001.

Click here to see the very interesting photos. For more info and fotos, google the name and location of the churches (under each photo – copy and paste).

My comment: I have seen lots of very interesting and creative U.S. churches (religious buildings) in many places. I don’t really know why church congregations are willing to be “out there” in their architecture but I love looking at these buildings!!

Tennessee Bank’s Appraisal Waiver request could set a precedent

From Appraisal Institute’s Appraisal News Online
Excerpt: A community bank in Tennessee (Tristar Bank) has submitted a request to the Appraisal Subcommittee seeking a one-year waiver from appraisal regulation requirements to use a certified appraiser, the Appraisal Institute learned Nov. 29. If the waiver is approved, it would apply to all institutions, not just the requesting organization.

The party making the request must provide clear evidence of a shortage of appraisers, among other things, and demonstrate that the shortage is leading to significant delays in the performance of an appraisal.
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Appraisal Waivers vs. Public Trust
Excerpt: If the ASC grants the request for appraisal waivers, the precedent will have been set for other banks to follow…

TriStar Bank has requested appraisal waivers for the entire year of 2018.

According to the bank, they are having difficulty getting appraisals in the Nashville area and there is only one Certified General Appraiser in the locality in which they are headquartered.

Options from bank’s letter to ASC
1. Obtain an estimated value from a Realtor, selected from a small group of trusted Realtors who are not involved in the property transaction, and have our senior officer validate the value; or,
2. Obtain an evaluation from Clarity Appraisal Management and then have our senior officer validate the value; or
3. Our senior officer will research comparable sales taken from MLS data to determine the appropriate value.
More detail plus appraiser video discussion
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And the Assault Continues
Appraisal Buzz
Excerpt: Sources tell The Appraisal Buzz that local appraisers have responded by visiting the TriStar headquarters requesting to be put on their panel. This is simply genius. If you are a TN appraiser please reach out to them and request to be added to their panel. Andrew Deason can be reached at Andrew.deason@tristarbank.com or 615-326-0532.
Lots of comments
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LINKS:
Appraisal Subcommittee appraisal waiver process https://www.fdic.gov/news/news/press/2017/pr17042.pdf

Bank’s letter to ASC

My comment: Not Good At All!! I don’t think their suggested options will work on commercial properties. But, this could be applied to residential properties.

New USPAP Q&As – November 30, 2017

 
– Payment of a Portal Fee.
Question: Does the Management section of the ETHICS RULE in USPAP require the disclosure of a portal fee?
– Workfiles Affected by a Natural Disaster
Question: My  appraisal workfiles were  recently  damaged  due  to a natural  disaster. I am salvaging what I can but will likely have to discard many. What does USPAP require in this situation.
– Appraising After a Natural Disaster
Question: A client has asked me to complete an appraisal of a property that was damaged in a recent natural disaster, but I have no experience with appraisals of this type. What are my USPAP obligations in this situation?
– Maintaining Records for Deceased Appraiser
Question: I have worked with another appraiser for many years, starting with simply sharing office space and most recently as members of a limited liability company (LLC). Unfortunately, this appraiser recently passed away unexpectedly. All of our appraisal assignments were performed independently, so I never signed certifications for any of his appraisal reports. Am I required to maintain his records in accordance with the record keeping requirements in USPAP?
Click hear to read the answers

My comment: FAQ’s are not technical parts of USPAP. They are opinions only. However, some state regulators consider them as enforceable. A while ago, a local appraiser was found dead at his desk early one morning… A guy who worked for him as an independent contractor was able to complete some of the appraisals, but the appraiser who died was not liable for anything. It was a shock to his family. No health problems. Heart attack.
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Dave Towne’s comments on portal fee disclosure

 

Excerpt: My viewpoint has always been, and will remain, that if you cannot technically ‘complete’ an assignment without paying a delivery fee, then the net result is the appraiser should disclose that obligation (not the exact amount paid) in order to RECEIVE the assignment.

Click here to read the blog post plus the comments

 

My comment: This is a controversial topic, as shown by the differing comments on Dave’s blog post plus various online and email discussion group postings. My opinion: Disclose or not disclose, depending on your opinion on the issue.
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FHFA – Loan Limits to increase in 2018

Fannie Mae has issued Lender Letter LL-2017-10 to confirm the general and high-cost area loan limits announced by the Federal Housing Finance Agency (FHFA). The new loan limit in most of the country will be $453,100, which represents a 6.8 percent increase over the 2017 limit. All but 71 counties (or county equivalents) will see a loan limit increase. The new limits are effective for whole loans delivered to Fannie Mae and loans in MBS pools with issue dates on or after Jan. 1, 2018. Detailed information and updated resources, including the Loan Limit Look-Up Table, are available on the Loan Limits page.
Links to Letter to lenders and Loan limits table on right side of the page 

What are the most popular topics in this newsletter?

Overall, strange properties are the winners. They get the most clicks. The most popular appraisal related links are Claudia Says from the LIA ads at the top of every weekly newsletter.

I always try to include “relevant” appraisal links, but they are much less popular ;>

Here are last week’s top clicks:
1. Mysterious device. Dave Towne’s antenna.
2. Claudia Says (LIA ad – subpoena work files)
3. 50 Lane Traffic Jam
.

Sorry, no Mortgage Banker Association loan originations stats this week.

Gray
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Ann O’Rourke, MAI, SRA, MBA
Appraiser and Publisher Appraisal Today
2033 Clement Ave. Suite 105
Alameda, CA 94501 Phone 510-865-8041
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Email   ann@appraisaltoday.com

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