Do You Have Two Appraiser Brains?

By George Dell
Excerpt: One appraiser brain says you must be “independent, impartial, and objective.” (USPAP) It wants to be good. It wants integrity and to sleep peacefully at night.

But there’s another brain. It’s primal and wants to survive. It has other responsibilities: meet the bills, feed the family, pay the mortgage, and pay government taxes/fees. And recorded in this brain is that part of the standards which say: Do what your clients expect; do what everyone else does. As paraphrased, the sole guides to an acceptable scope of work.

Worth reading. Short. Plus the comments.

Appraisal Business Tips 

Humor for Appraisers

Covid-19 Residential Appraisers Tips on Staying Safe

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To read more of this 9-27-18 long blog post with many topics, click Read More Below!

NOTE: Please scroll down to read the other topics in this long blog post on changes over time, Frank Lloyd Wright homes, appraiser podcastsmortgage origination stats, etc.


7 Fantastic Frank Lloyd Wright Homes

Excerpt: Dubbed by the American Institute of Architects as the “greatest American architect of all time,” Wright designed more than 1,100 buildings, 532 of which were eventually built. From his early designs in the low-slung Prairie School style to the efficient, affordable Usonian style inspired by the Great Depression, everything Wright created aimed to create spaces that he described as “eloquent and humane.”
Photos and info at:




AQB September 2018 Public Meeting

Sept 28, 2018 9:00 a.m. – 12:00 p.m. in Eastern Time (US and Canada)
Hilton Garden Inn
Raleigh Crabtree Valley
3912 Arrow Drive
Raleigh, NC 27612
Register here:

Sorry, I could not find an agenda online. But it is interesting to hear and see the AQB members. I Love Livestream!!

Appraiser Podcasts

Last week I listed my favorite podcasts, but did not include appraiser podcasts. I don’t get them on my iphone, but do get emails when a new one is posted. I listen to some of them on their web sites. I did research on doing podcasts myself, but it was way too much work ;>

I know about 3 appraiser podcasts. If you know of any more, please hit the reply button!!

All the podcasts are available for subscribing and downloading on smartphones.

I have been listening to the two podcasts below since they started and have been a guest on both. Both have guests and comments and analysis from the hosts. They are different in presentation “style”. Both are practicing appraisers.

Phil Crawford’s Voice of Appraisal. Before he started his appraisal podcast, Phil did a radio show for real estate agents and developed his radio “personality”. He does his podcasts in the radio station where he did his real estate agent radio show, with a producer and professional equipment.  – Click on Videos for recent podcasts

Dustin Harris, The Appraiser Coach, has been helping appraisers with their businesses for awhile, including doing Mastermind groups around the country. He started with his blog, and then added podcasts. He does his podcasts in his office. His speaking style is more “traditional” than Phil Crawford.

Blaine Feyen, The Real Value Podcast. Several appraisers mentioned this podcast. I did not see any guests listed. For appraisers, real estate agents, and mortgage lenders. Stopped in 2016 and restarted recently. Business and appraisal topics. He is a “real estate appraiser, founder and CEO of Real Value Group, a real estate appraisal firm and training company in Michigan”.
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Appraisal Today

Bills Raising Thresholds for SBA Loans

Excerpt: H.R. 6347, the 7(a) Real Estate Appraisal Harmonization Act, and H.R. 6348, the Small Business Access to Capital and Efficiency Act, would peg the Small Business Administration appraisal threshold level to the threshold level established for commercial real estate by the federal bank regulatory agencies. Earlier this year, those agencies finalized a rule to increase the commercial real estate appraisal threshold level from $250,000 to $500,000.

My comment: And the Pendulum Swings Back to looser appraisal regulations. Nothing new here. It will Swing Back. Already lots of comments on another recession coming.


Appraiser Update: Waivers, condos, and what we’re hearing from you

Direct quote below. 

Want to know more about MH Advantage™? The latest Fannie Mae Appraiser Update (My comment: Download and read this!!) provides tips for appraising MH Advantage homes, as well as information about updated manufactured homes with additions policy and condo project standards.

We’re also providing an overview of what we’ve been hearing from you through the Contact Us form for appraisers that we launched in April. Find out what topics our readers have weighed in on or expressed interest in learning more about. Please continue to use this form to share what’s on your mind and to submit feedback and questions on appraisal topics.

We’d also like to take this opportunity to let you know about a new appraisal waiver offering. On a limited basis, we are offering an appraisal waiver option to support sustainable homeownership for low- to moderate-income borrowers in high-needs rural areas as designated by Duty to Serve. The offer is contingent on a home inspection, which may identify any significant maintenance issues prior to closing and help home buyers avoid unanticipated, potentially high-cost, post-purchase repairs. To learn more about the high-needs rural appraisal waiver, check out our fact sheet.


Changes Over Time

By Rachel Massey, SRA
Excerpts: One of the reasons an appraisal value is a point date, is that markets are fluid. What happens today, may not happen in the future, and likely did not happen in the past.

When markets are sizzling hot, there are few listings operating as competition for a property. When markets cool, listings become ever more important as part of the analysis. Understanding what is happening as far as supply and demand in the market is critical, and should be part of any appraisal. Knowing where the subject property stands in terms of the competition is part of the analysis.

Good analysis and graphics:
My comment: Prices are changing in many areas, including mine. I have always used listings to let me know what is happening now. Comps are the past. Don’t miss the market change!
HOW TO USE THE NUMBERS BELOW. Appraisals are ordered after the loan application. These numbers tell you the future for the next few weeks. For more information on how they are compiled, go to 
Note: I publish a graph of this data every month in my paid monthly newsletter, Appraisal Today. For more information or get a FREE sample issue go to or send an email to . Or call 800-839-0227, MTW 7AM to noon, Pacific time.
Mortgage applications increased 2.9 percent from one week earlier

WASHINGTON, D.C. (September 26, 2018) – Mortgage applications increased 2.9 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending September 21, 2018.

The Market Composite Index, a measure of mortgage loan application volume, increased 2.9 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 2 percent compared with the previous week. The Refinance Index increased 3 percent from the previous week. The seasonally adjusted Purchase Index increased 3 percent from one week earlier. The unadjusted Purchase Index increased 2 percent compared with the previous week and was 4 percent higher than the same week one year ago.

The refinance share of mortgage activity increased to 39.4 percent of total applications from 39.0 percent the previous week. The adjustable-rate mortgage (ARM) share of activity remained unchanged at 6.5 percent of total applications.

The FHA share of total applications decreased to 10.4 percent from 10.6 percent the week prior. The VA share of total applications increased to 10.1 percent from 10.0 percent the week prior. The USDA share of total applications remained unchanged at 0.7 percent from the week prior.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($453,100 or less) increased to its highest level since April 2011, 4.97 percent from 4.88 percent, with points increasing to 0.47 from 0.44 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans. The effective rate increased from last week.

The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $453,100) increased to 4.92 percent from 4.77 percent, with points increasing to 0.30 from 0.28 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week.

The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA increased to 4.94 percent from 4.90 percent, with points increasing to 0.83 from 0.73 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week.

The average contract interest rate for 15-year fixed-rate mortgages increased to 4.38 percent from 4.30 percent, with points increasing to 0.52 from 0.49 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week.

The average contract interest rate for 5/1 ARMs increased to its highest level in the history of the survey, 4.22 percent from 4.17 percent, with points increasing to 0.60 from 0.29 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week.

The survey covers over 75 percent of all U.S. retail residential mortgage applications, and has been conducted weekly since 1990. Respondents include mortgage bankers, commercial banks and thrifts. Base period and value for all indexes is March 16, 1990=100.

Ann O’Rourke, MAI, SRA, MBA
Appraiser and Publisher Appraisal Today
2033 Clement Ave. Suite 105
Alameda, CA 94501 Phone 510-865-8041
Fax 510-523-1138

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