11-29-19 Newz: Choosing Comps – VA and Bifurcated – Most Expensive Homes

By George Dell

Excerpt: This question caused me to rethink the relationship of ‘spiritual’ or ‘mental health’ principles to profitable business practices. From last year’s blog, the research showed benefits with: relationships, physical and emotional health, reduced anger/isolation, sleep, self-esteem, and even improved brain power! Cool.

So, do these things cost me money? Or do they help make more money?

Let’s start with the obvious: what’s in an appraiser’s required belief system: Standards, ethics, and conduct. Recall that USPAP requires you to be worthy. Worthy of belief. Credible.

So, what in that list helps me make more money?

To read more, click here

My comment: Very good appraisal comments for Thanksgiving and the upcoming holidays! Worth reading.

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11-22-19 Newz: Appraisal Fees – Previous Careers – Dungeon

What Was Your Previous Career Before You Got Into Appraisal?

Excerpts:

The Top 3

  • Real estate sales (14%)
  • Mortgage lending (8%)
  • Insurance (5%)
  • Assistant or admin work (5%)
  • Banking (1%)
  • Others: 63%

To read more, click here Check out the respondent comments and a list of some of the many previous careers

My comment: I was a chemist before I started appraising. Really like learning about science in school, but 7 years of lab work was too boring. I felt trapped inside. Saw an ad for “appraiser assistant” at the local county offices. “Work in the field.” I had never heard of it, so read a book about it at the library (1974). I got the job and still love appraising!! I didn’t see many science careers on the “Other” list. But, I think it prepared me well for appraising as I was trained to be very objective and analytical.

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11-15-19 Newz: Adjustments – Angle Measurements – Zillow iBuying Problems

Accurate Measurements with Odd Angles

Excerpt: Imagine a 2,100 square foot, one and a half story house with an attached garage, porch, and deck. You probably imagined the typical bungalow. Now, imagine that house having 48 corners and only 4 of them are 90 degrees. I recently had an experience with just that house. Some architect, thinking they were Frank Lloyd Wright reincarnated, decided to build this house on a high bank cliff overlooking the Puget Sound. Don’t get me wrong, it was a pretty cool design, but I knew right away when I received the order for that appraisal that I was going to need some help.

To read more, click here Lots of reviews of the product, plus other similar products.

My comment: $19.95. An inexpensive product we all need!! They have been around for awhile, but most appraisers did not know about them. I appraise a lot of Victorians. Very useful!!

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11-8-19 Newz: Zestimates – Fee Transparency – Science and Appraising

National Appraisers Forum

By Dave Towne

Excerpt: Appraisers, if you would like to learn from highly qualified peers (other than me! :), post questions, or offer your own comments, consider joining the FREE group, National Appraisers Forum (NAF). Use this link.

This is one of the best appraiser groups as all commentary is respectful. While not everyone always agrees with certain points, the discussions are not demeaning. There is a wealth of info participants share freely on a wide number of topics. The group has several moderators who monitor the posting activity.

One key point, NAF participants are not anonymous. You must use your name (at a bare minimum) when participating, which is required when signing up… Moderators are asking that anyone who wants to join should give their name as licensed, the state they are in, and their license number.

To read more, click here

My comments: This is my favorite appraiser online group! I get many emails from various sources for this newsletter and have been a member of many online communication places. Before the internet was widely available, I hosted live chats on aol and compuserve. Since then I have watched many online places. Unfortunately, just like any other topic, sometimes the groups end up doing lots of “flaming” (attacking another participants, etc.), negative comments, off topic, politics, etc. I quit going to these places.

Of all the groups I have subscribed to, National Appraisers Forum is the best for me. I have been a member since it started, or soon after. No complaining about AMCs, off topic, trolling and flaming, etc. The founder, Steve Smith, and the moderators keep it this way. Regular contributors are “high end” appraisers with many years of experience. Hot topics are often discussed.

There are well managed appraisal groups on Facebook, but it is too hard to for me to follow the threads, so I don’t go there very often. But, it may work for you.

Another major factor is that you must use your real name, so we know who is commenting. Allowing anonymous postings can easily decay into a mess.

I will be updating my article ” How to connect with other appraisers online. What’s the best group for you? ” in a future issue of the paid Appraisal Today discussing other email chat groups, how to find other groups or start your own, Facebook, etc.

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11-1-19 Appraisal Waivers – What’s In GLA – Superstitions

Appraisal Waivers 

(from Rob Chrisman’s email newsletter)

And wouldn’t home loans be streamlined if the owner of the loan/investor didn’t care about the value? No appraisals! On the flip side, what if every home loan required three appraisals? That would sure bog thing down. The topic of waiving appraisals (who, what, where, when, why) is a hot one. The general belief is that the PWI is not as much predicated on the home, nor the loan structure, and more in the availability of prior appraisals in the area. Appraisals being in “machine language” making them readable, and the data more subject to compiling and valuation algorithms is hot stuff. And some wonder that if Freddie and Fannie are under government conservatorship, could that information be subject to a FOIA request?

To read more, click here NOTE: The appraisal waiver section is down the page. Easiest to search for appraisal waiver.

My comment: I have been subscribing to Rob Chrisman’s newsletter for a long time. It focuses on lenders and mortgage originator news, but sometimes has some interesting material on appraisals. In this one, there is some analysis from the appraiser side. Nothing new for appraisers, but it is always good to see what loan officers and lenders are reading.

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