Appraisal News and Business Tips

Blog

5-11-17 Newz:: Zillow Sued, Value of Views, Portable Architecture

Portable Architecture You Can Roll, Wear, Tow, or Float

A sauna on skis and 11 other dwellings made to move.

Excerpt: Some of the examples are ideal for recreation, such as the compact-cute, California-made Golden Gate 2 camper, with a rounded timber frame, portholes, and a spot for a surfboard. For lovers of winter sports, the Nomad Sauna, which was built on a lake in Norway, includes an internal ice-hole for intensely refreshing breaks from the heat.
It is not all fun and games-others are designed for important, practical use. It can also be used to provide shelter during a crisis, or for protection in extreme weather.
———————————————————————————–

Sleeping lawyer at mortgage fraud trial

Excerpt: A businessman will get a new trial on mortgage fraud charges because his defense attorney was seen sleeping by the judge, witnesses and the federal court jurors who convicted him last year.
U.S. District Judge Donetta Ambrose ruled James Nassida was denied a fair trial because Stan Levenson dozed during the October trial. Levenson has acknowledged that he fell asleep because he was taking cold medicines that made him drowsy.
—————————————————————————-

What are views worth?

To figure out the premium that these vistas can command, the realtor.com® data team compared the prices for all the homes for sale on our site that highlight these sought-after panoramas, and then compared them to similar-size properties in adjacent ZIP codes with no view to speak of.

Here are a few:
4. Chicago, IL: Lake Michigan
Median list price for homes with views: $525,000
Killer view premium: 96.8%

1. Manhattan, NY: Central Park
Median list price for homes with views: $3,795,000
Killer view premium: 39.9%

My comment: Percent of value varies widely. Of course, the total dollar amounts vary even more! I love data!!

Read more!!

Posted in: adjustments, AMCs, Appraisal fees, appraisal management company, data, Fannie, humor, lender appraisals, Mortgage applications, mortgage loan volume, Strange homes, unusual home, unusual homes, zillow

5-4-17 Newz .Appraiser Sues Coester. Regression Depression .Google Docs Phishing Scam

Appraiser sues Coester – email hacking

 Source: Appraiserville by Jonathan Miller

With links to court documents
 
Mark Skapinetz v. CoesterVMS.com Inc. and Brian Coester
Excerpt: Do you like to read John Grisham books? I have a story that is much better. It is about a residential fee appraiser in Georgia who filed suit against what the appraisal industry sees as the most notorious AMCs out there and its owner. The appraiser provides compelling tangible evidence with his claim that his email was hacked by the AMC.
… The complaint reads better than “The Firm.”
http://www.millersamuel.com/note/april-28-2017  Scroll down to appraiserville 
 
Dustin Harris Interview with the appraiser:http://appraisersblogs.com/mark-skapinetz-free-appraisers 
More analysis, opinions, and links to documents plus comments
————————————————————————————-

Regression Depression

Why is it so easy? Why is it so hard?

By George Dell, MAI, SRA, ASA

Read more!!

Posted in: AMCs, mortgage loan volume

Appraisal Today! No Appraisal Tomorrow?

Appraisal Today! No Appraisal Tomorrow?

AVMs are a threat to appraisers today and tomorrow!!

By Barry Bates

Is the quasi-provocative title of Barry Bates’ article in the May 2017 issue of Appraisal Today. It’s “quasi” because the central issue, the livelihood threat represented by AVMs, has been around for at least 20 years. It’s provocative because Barry’s research suggests that AVMs, bolstered by artificial intelligence, satellite overlays and more robust attributive data, are a bigger threat than ever.

He also cites a 2015 Oxford white paper that studied 702 U.S. jobs and rated their likelihood of total computerization over the next 10 years; “Appraisers and Assessors” warranted a 90% likelihood. Bates explains why, by 2023, that might as well be a function of the residential market assignment volume, i.e., 10% of 2013 volume. One of the factors he mentions is the erosion of federal rules that once ensured that every new origination for refinance or purchase would be accompanied by a full appraisal of the real property.

Not only has the rule been undermined by a variety of new Fannie/Freddie/VA loan programs that don’t require appraisals, but the federal rule itself was modified in 2015 to give the GSEs power to decide whether any particular loan (or type of loan)was worthy of a waiver.

Another factor (of several) is the availability of “data on steroids”: collateral information (including every field in the Uniform Appraisal Dataset (UAD) from past and current appraisals populating the GSE AVMs and database from every appraisal sent through one of the uniform collateral data portals, like Fannies UCDP, which already allows for appraisal “sharing” for aggregators and Fannie’s correspondent lenders (even the 1004MC data can be offloaded to a siding for market analysis).

Bates concludes that all the necessary pieces are being assembled for an artificial intelligence AVM with robustness equal to the Stay-Puft Marshmallow Man.

[Editor’s Note. When asked whether his prognostications were a little on the gloomy side, Bates rejoined, I know, I know, ‘The pessimists are right, but the optimists have more fun.’ I mean, hey, even paranoids have enemies! And unfortunately, as a card-carrying neurotic, I’d almost always prefer to be right.]

Bates’ full commentary is in the May issue of the Paid Appraisal  Today. For more

info, go to www.appraisaltoday.com/products

Posted in: appraisal business, Appraisal fees, data, Fannie, fees, humor

4-20-17 Newz//Ocwen Sued, ASA+NAIFA, Dog Mansions, Real Estate Holdout

Take Pet Pampering to the Next Level with These Fabulous Dog Houses

Just For Fun!!

Excerpt: Dog owners are infamous for providing their furry ones with a better lifestyle than their own. For instance, you might recall the time Paris Hilton had a replica of her mansion done for her pet Chihuahua.
We don’t need to go there, but there are definitely plenty of crazy options in the market. Who knows, one of them might catch your fancy.
Check out Mediterranean Villa, Victorian and 2 Mansions.

My comment: check out the fotos!! Wonder what my cat would think about these Dog Houses? I need a Big Cat House, way up high on a pedestal, with mice ;>

————————————————————-

Pets and Homebuying – Animals are family members

2017 NAR survey
Excerpts:
Among pet-owning homeowners who responded to NAR’s survey, 99 percent said they did indeed view their animals as a family member… Eighty-nine percent said they would not give up their pet in deference to housing restrictions or limitations. Nineteen percent said they would consider moving to accommodate their pet, and 12 percent said they have actually done so.

Read more!!

Posted in: appraisal business, appraisal classes, Strange homes, unusual home

4-20-17 Newz// The Narrowest House, State Appraisal Boards, Low Housing Inventory

Keret House- The world’s narrowest house makes for an awkward, four-foot-wide living space.

Excerpt: Designed by Polish architect Jakub Szczęsny, the Keret House in Warsaw is wedged inside a four-foot crevice, nicknamed a “cushion of air,” between two buildings. The Keret House stretches over 30 feet tall but is simultaneously only 28 inches wide at its narrowest point-thinner than a stovetop-and just four feet wide at its widest.
My comment: Check out the fotos and full article. Wow!! I have written about narrow houses in this weekly email before, but this is definitely the narrowest!!
==========================================

When You Get Notice of a State Complaint…

By Ted Whitmer
If you are an appraiser, it is likely that at some point in your career you will receive notice that a complaint was filed against you. In one particular busy year in Texas, roughly one in six residential appraisers were filed against with the Texas Appraiser Licensing and Certification Board. When you run the number of complaints in one year against the number of appraisers, one can expect a complaint every eight to ten years.

Read more!!

Posted in: appraisal business, fees, lender appraisals, Mortgage applications, mortgage loan volume, real estate market, state appraiser regulators, weird homes

4-13-17 Newz// Desktop Appraisals .Fannie Appraiser Update .Trump Dump Dodd-Frank Regs

Sign up for Fannie’s new Appraiser Update and other appraisal-related news!

How do appraiser-related policy updates, technology changes, and industry trends affect your business? To stay on top of the latest Fannie Mae appraisal news and policies, check out the new Fannie Mae Appraiser Update, a newsletter providing periodic updates for residential appraisers serving Fannie Mae lender customers.  Sign up today to receive the newsletter and other appraisal-related updates.
My comment: I get all the Fannie announcements and have to scroll through them looking for anything relevant to appraisers for this email newsletter. Hopefully, Fannie’s appraiser info will be send frequently. The first newsletter is available.
========================================

Ecological Plastic Bottle House

One family’s mission to exemplify sustainability took on a whole new life as a surprisingly beautiful home.
Excerpt: Alfredo Santa Cruz and his family built the bottle house out of trash and recyclables they collected. Aluminum cans, glass jars, CDs, cardboard cartons, and of course, plastic bottles were all used as construction materials. The house has multiple rooms, and even furniture constructed from all these items.
Scroll down the page to see bottle houses in Michigan, Canada, and Azerbaijan!!
===============================================

Read more!!

Posted in: AMCs, appraisal business, appraisal management company, Fannie, fees, FHA, Strange homes, Uncategorized, unusual home, unusual homes, weird homes

4-6-17 Newz .VA Appraisers Congress Hearing .Appraiser and Timeshare Scam .Fourth Approach

Assessing VA Approved Appraisers and How to Improve the Program for the 21st Century – House Committee on Veterans’ Affairs Subcommittee on Economic Opportunity April 4, 2017

Link to video of hearing: https://youtu.be/uoVmYOq4HQY  (scroll forward past the logo)
Witnesses included:
– NAR 2016 Real Property Valuation Committee Chair
– Vice President, Appraisal Institute
– Chief Revenue Officer, Clear Capital

My comment: I have always been surprised that so few appraisers are interested in doing VA appraisals. Guess they like working for AMCs with hassles and low fees. Every week, at the bottom of every free email newsletter, I include the MBA origination stats, including VA, which is similar in volume to FHA. This week FHA and VA are very similar – around 11% of originations.

I wrote an article about the plusses and minuses of VA appraising in my Paid Appraisal Today newsletter, available to paid subscribers (see below). What I really like about VA is that you are helping veterans, not a lender trying to make a deal however they can. I noticed that a Representative O’Rourke was one of the first speakers in the video ;>
========================================

Federal Court Permanently Bars California Man From Preparing Property Appraisals

Appraiser prepared thousands of appraisals in conjunction with timeshare donation scheme

Read more!!

Posted in: appraisal, Mortgage applications, mortgage loan volume, Uncategorized, va

3-30-17 Newz: Corelogic Taking Over?, Oldest Living Things, NAR Appraiser Survey

The Oldest Living Things in the World

Fifteen places to find some of the most ancient life on Earth.

Just For Fun ;>

Excerpt:
On every continent on the planet you can find ancient lifeforms that have been living for thousands, or in some cases tens of thousands of years, their lifespans varying wildly depending on the type of organism.
Many of these are trees. Earth is dotted with ancient trees representing the oldest individual examples of their species, the most elderly of which have been around for between 2,000 and 5,000 years, providing food and shade for some of the earliest human civilizations.
But the real longevity champions of the plant world are clonal colonies, a Utah aspen colony is up to about 80,000 years old!
 
My comment: And I thought California’s 4,800 year old bristle cone pine tree was old! This email newsletter would be a lot more boring without atlas obscura!! Somehow uspap, etc. can be sorta boring ;>
==========================================

Corelogic taking over? Lots of data, AMCs, MLS, education…

Excerpt: This morning, as I do every morning, I made some coffee and began work on one of the two appraisal reports that were soon to be due. The first was for an AMC known as Speedy Title and Appraisal Review Services. This appraisal management company is owned by CoreLogic. From their website…

Read more!!

Posted in: AMCs, appraisal business, rental market, weird properties

3-22-17 Newz: AQB Degree and Experience .Raise Deminimus? .AMC High Consumer Fees

Are you paying unseen add-on fees for your appraisal?By Ken Harney, nationally syndicated real estate writer

Excerpt: Are you getting fleeced on appraisal charges when you buy a house or refinance? Could you be paying as much as double what the appraiser is receiving for actually doing the work, with the excess going to an undisclosed third party?

Many appraisers say yes. And they’re eager to let consumers know that when the appraisal charge is $500 or $800 or $1,000, they’re frequently being paid just a fraction of that. The rest is going to an “appraisal management” company…
Read the full article here and add your comments:
My comment: Finally, someone is writing about the AMC Consumer Ripoff!! I have been saying since 2008 that the best way to “fight” AMCs is to let consumers know they are getting ripped off!! Appraisers complain about how AMCs treat appraisers and low fees, but don’t seem to focus on consumers, who are paying much more.
————————————————————————–

Read more!!

Posted in: AMCs, appraisal, appraisal business, Appraisal fees, appraisal management company, Appraisal Qualifications Board, commercial appraisal, fees, lender appraisals

3-16-17 Newz: Appraiser indicted, Public records sqft, 3-D printed house

3D Map Shows America’s Most Expensive Housing Markets

Excerpt: Which U.S. housing market is the most expensive?
 It seems like the question should have a single, straightforward answer. But with varying definitions of what constitutes a housing market and with different ways of measuring home value, the question is not so clear cut.
Using data from Zillow, this 3D map shows the cost of housing by U.S. county. The height of each area represents the average price per square foot of its homes.
My comment: Fascinating graphic. Lots of counties well under $100 per sq.ft. My urban county: $477. Other CA rural counties under $150. Warning: Can Be Addictive ;> I love Microcosm graphics!!
————————————————————————-
Top 10 Affordable Small Towns Where You’d Actually Want to Live, 2017 Edition
Excerpt: But does this (small towns) mean you have to trade excitement for enervation? As the city-dwelling comedian Lenny Bruce once said, “I hate small towns, because once you’ve seen the cannon in the park, that’s it.” So we focused on life beyond the cannons-small towns offering up rich cultures and a surprising amount of fun side diversions.

Read more!!

Posted in: Mortgage applications, mortgage loan volume, state appraiser regulators, Strange homes, unusual home, unusual homes, weird homes
Page 2 of 3012345...102030...Last »