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NEWZ// 2-4-16 – Adjustments-Unwanted mansions-Why homeowners don’t refi-Loan buybacks

 5 Reasons Homeowners are not Taking Advantage of Refi Opportunities

Excerpts:

Historically low mortgage rates have been circling the housing market for several years now. Low mortgage rates present opportunities for homeowners to refinance their homes, but recent data and analysis shows that they are not taking advantage of billions of dollars in savings.

Although the number of refinancers may appear to be large, it is actually down from over 7 million in April 2015. Black Knight reports that interest rates were under 3.7 percent during this time, and the 20-year rate was 3.96.

Black Knight Data & Analytics SVP Ben Graboske explained, “This population is diminishing, and as mortgage interest rates rise, it will only continue to shrink further.”

Here are the five:

Lower credit scores and income.

Hassle and upfront expense.

Not enough equity.

Inconsistent job history.

Lack of assets.  

Lots more info plus a link to the original study.

http://www.themreport.com/news/data/01-25-2016/5-reasons-homeowners-are-not-taking-advantage-of-refi-opportunities

My comment: interesting analysis plus a link to the nerdwallet full analysis. I have always wondered why so few people are not doing refis with rates still at historic lows.

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 CU Quick Guide Videos Now AvailableNew short videos (~4 min) show how to easily use the Collateral Underwriter® (CU™) web application to research common messages. Watch the Quick Guide Intro to the Comp Selection Message to see how to use CU to review appraisals with a material difference between the appraiser-provided and CU model-selected comparable sale rankings. The Quick Guide to Data Discrepancy Messages shows how to quickly view other appraiser observations when there is a discrepancy in reported data (either from what the appraiser previously reported or from what other appraisers have reported.) Want to learn how other lenders have leveraged CU? Review this new Housing Industry Forum article which details how lenders that maximize the use of CU have been able to make the underwriting process more efficient while improving appraisal quality and reducing appraisal-related loan defects.Additional CU live webinar dates are also now available:

CU User Interface Basic Training: Feb 10, 2016 from 2 – 3:30 p.m. ET

CU User Interface Advanced Training: Feb. 18, 2016 from 2 – 3:30 p.m. ET

Maximize your Appraisal Review Efficiency and Effectiveness with CU: Feb. 24, 2016 from 2 – 3 p.m. ET

For more information on CU visit the CU web page. 

My comment: see how CU works, from the lender side. 

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America’s Most Unwanted: The Neverland Ranch and Other Unsold $100 Million Mega-Mansions

Excerpt:

Michael Jackson’s $100 million Neverland-formally known as Sycamore Valley Ranch-is still stuck on the block.

Listed last May (sans the King of Pop’s amusement park), the 2,698-acre compound in Los Olivos showcases a 12,598-square-foot, French Normandy-style main house with six bedrooms and nine baths. Other structures include three separate guesthouses, a 5,500-square-foot movie theater with a stage, numerous barns, animal shelter facilities, and a maintenance shop.

Check them all out at:

http://www.forbes.com/sites/kristintablang/2016/01/26/100-million-mega-mansions-for-sale-neverland-ranch-jeff-greene-rancho-san-carlos-palazzo-di-amore-le-palais-royal

My comment: if they ever do sell… very, very long exposure times!

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Adjustments – “Support” vs. “Proof, what should you do?

New in the FEBRUARY 2016 issue of the paid Appraisal Today

Adjustments Part 1 – Are you making too many adjustments? Lots of ideas, research, etc.

– Support vs. proof for adjustments by Bob Keith. A very good explanation of Scope Creep on adjustments. He is the former Executive Director 

of the Oregon State Appraisal Board and is a consultant for appraisers with state board complaints

Identifying Residential Architectural Styles by Mark Nadeau,SRA, Book review. Read my review to decide if you want to buy the book.                        

Two good, practical residential books, with very good tips on adjustments  Book reviews. 

The Dictionary of Real Estate Appraisal, 6th Edition – Read my review to decide if you want to buy this book. 

Cancel at any time. For any reason!!

$8.25 per month, $24.75 per quarter, $89 per year (credit card only),  

or $99 per year or $169 for two years (no credit card required) 

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Fannie, Freddie Unveil New Appeals Process for Loan Repurchases

Excerpt:

Fannie Mae and Freddie Mac unveiled an appeals process Tuesday that will allow an independent arbitrator to resolve disputes between lenders and the government-sponsored enterprises over loan repurchase demands.

The new independent dispute resolution process, which was approved by the Federal Housing Finance Agency and endorsed by the Mortgage Bankers Association, is an effort to provide lenders more certainty that they won’t later face costly repurchase requests if a loan goes bad.

http://www.nationalmortgagenews.com/news/secondary/fannie-freddie-unveil-new-appeals-process-for-loan-repurchases-1071121-1.html

My comment: Maybe lenders will be less paranoid about appraisals causing buybacks and cut back on Excessive Appraisal Requirements.

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One-third of realty transactions are plagued by delays, some of them fatal By Ken Harney

Excerpt:

According to the study, of the 32 percent that experienced delays, 46 percent were triggered by “financing issues,” which is up from 40 percent during the first half of 2015. Appraisal-related problems caused 21 percent of the delays and home-inspection issues in 14 percent. Of the nearly 1 of every 16 (6 percent) of deals that turned into total disasters and fell through, home inspection and financing were the primary culprits. Sixteen percent went south because of the appraisal.

https://www.washingtonpost.com/realestate/one-third-of-realty-transactions-are-plagued-by-delays-some-of-them-fatal/2016/01/19/0d74d684-beb9-11e5-83d4-42e3bceea902_story.html 

My comment: maybe that’s why some AMCs are pressuring/asking for more when you “come in” under the sales price. Their clients, the lenders, don’t like deals falling through…

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Study finds discrepancies between reported and actual home sales prices By Ken Harney

Are some realty agents hyping the pricing information on closed sales they report to their local multiple listing service, or MLS? And if so, should you care?

A first-of-its-kind study by appraisal and real estate experts suggests that maybe they are and maybe you should. Researchers compared closing documents – which are supposed to indicate the final price in sales transactions – with the prices that agents actually reported to their MLS and found that in nearly 1 of every 11 cases (8.75 percent) there were discrepancies. Overstatements of final price exceeded understatements by a ratio of nearly 3 to 1. In one case, the price reported to the MLS was 21.4 percent above the actual closing price.

https://www.washingtonpost.com/realestate/study-finds-discrepancies-between-reported-and-actual-sales-prices/2016/01/26/86d11660-c435-11e5-a4aa-f25866ba0dc6_story.html

My comment: And AMCs worry about discrepancies on public records and appraisers on GLA!! Another reason Big Data (CU) fails and needs appraiser input. 

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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 www.mbaa.org 

Note: I publish a graph of this data every month in my printed newsletter, Appraisal Today. For more information or get a FREE sample issue go to www.appraisaltoday.com/products.htm  or send an email to info@appraisaltoday.com . Or call 800-839-0227, MTW 8AM to noon, Pacific time.

Mortgage applications decreased 2.6 percent from one week earlier 

WASHINGTON, D.C. (February 3, 2016) – Mortgage applications decreased 2.6 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending January 29, 2016.  The previous week’s results included an adjustment for the Martin Luther King holiday.

The Market Composite Index, a measure of mortgage loan application volume, decreased 2.6 percent on a seasonally adjusted basis from one week earlier.  On an unadjusted basis, the Index increased 11 percent compared with the previous week.  The Refinance Index increased 0.3 percent from the previous week to its highest level since October 2015.  The seasonally adjusted Purchase Index decreased 7 percent from one week earlier. The unadjusted Purchase Index increased 11 percent compared with the previous week and was 17 percent higher than the same week one year ago.

The refinance share of mortgage activity increased to 59.2 percent of total applications from 59.0 percent the previous week. The adjustable-rate mortgage (ARM) share of activity decreased to 5.9 percent of total applications.

The FHA share of total applications increased to 12.9 percent from 12.7 percent the week prior. The VA share of total applications remained unchanged from 11.1 percent the week prior. The USDA share of total applications remained unchanged from 0.7 percent the week prior.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,000 or less) decreased to its lowest level since October 2015, 3.97 percent, from 4.02 percent, with points increasing to 0.41 from  0.40 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans.  This is the fourth straight weekly decrease for this rate.  The effective rate decreased from last week.

The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $417,000) decreased to its lowest level since April 2015,  3.84 percent, from 3.89 percent, with points increasing to 0.26 from 0.25 (including the origination fee) for 80 percent LTV loans.  This is the fourth straight weekly decrease for this rate.  The effective rate decreased from last week.

The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA decreased to 3.80 percent from 3.83 percent, with points decreasing to 0.35 from 0.38 (including the origination fee) for 80 percent LTV loans.  The effective rate decreased from last week.

The average contract interest rate for 15-year fixed-rate mortgages decreased to 3.22 percent from 3.28 percent, with points remaining unchanged at 0.37 (including the origination fee) for 80 percent LTV loans. The effective rate decreased from last week.

The average contract interest rate for 5/1 ARMs decreased to 3.00 percent from 3.09 percent, with points remaining unchanged at 0.34 (including the origination fee) for 80 percent LTV loans.  The effective rate decreased 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

 
To purchase the paid Appraisal Today newsletter  go to

www.appraisaltoday.com/products.htm  or call 800-839-0227. 

 

Posted in: adjustments, appraisal, appraisal business, appraisers, Collateral Underwriter, Fannie, mortgage loan volume, weird homes

NEWZ// 1-28-16 Not C-R fees-fined/AI twitter hacked/Building permits?/50 castles/adjustments

 

50 castles in 50 states

Excerpt:

The United States of America is not typically thought of as a land of castles, and with good reason-the uniting of the American states coincided, not coincidentally, with the beginning of the end of the era in which kings and queens ruled over everything, holing up in huge fortified houses so that the peasants and/or invading barbarians couldn’t kill them.

But in a way, that’s too bad, because the U.S.A. is a land of excess, and there’s nothing more excessive than a castle. And there are some castles in this country-maybe more than you’d expect-which range from (mostly) vanity projects, to mini golf courses, to even a few places that originally served some military purpose. Not only that, but many of them are currently for sale. If you’ve ever dreamed of owning a castle of your own, you could, for as little as a few hundred thousand dollars, or as much as a over ten million. (If you want to have your wedding in a castle, the options are even more vast.) In fact, we found a castle in every state in the U.S.A

Here are a few:

– This Illinois Castle Costs a Mere $795,000

– Majestic Castle in the Adirondacks Offers Turrets, Knights, and – Secret Passageways for $12.8M

– Ludicrous $4.9M Texas Castle Really Loves Turrets

My comment: Photos and links for more info for all 50 castles!!

Easy to view – scroll down the page, no excessive popup ads.

Check it out at:

http://curbed.com/tags/castle

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Appraisal volume starts to lose momentum

Reverses last week’s rise

Posted January 26, 2016

 

Excerpts:

Appraisal volume erased most of last week’s rise, falling 4.1% for the week of Jan. 17, the most recent report from a la mode, an appraisal forms software company that tracks appraisal volume throughout the country, showed.

A week ago, appraisal volume grew 5%, following a strong surge the week prior.

“While appraisal volume started the year with a strong recovery from the Christmas and New Year slump, it has not seen the energy that mortgage applications have shown. This is perplexing but could be because of lenders still getting used to the new TRID procedures and delaying ordering appraisals or just that the applications are falling out and not turning into mortgages,” he continued.

Click here to read other comments and see the data.

http://www.housingwire.com/articles/36111-appraisal-volume-starts-to-lose-momentum 

My comment: this report is posted every week. Please also see the MBA Weekly Mortgage Loan Origination volume report at the end of every weekly email newsletter, posted on Friday. Appraisal ordering follows originations, so MBA is slightly ahead of the a la mode report.

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POLL: Do you check to see if permits were pulled on remodeling on subject properties?

Source: www.appraisalport.com Vote in their current poll: 

Do you consider appraisal trade groups important to the industry?

My comment: A controversial topic. I’m not surprised at the results. However, if permits are online and free I don’t know why appraisers would not get them. In my city, free online records only go back to about 1970. Most of the homes were built before 1940. It costs $15.25 to get a full permit history and it can take up to a week to get it. The old records are a bit flakey, such as “remodeling” or something else very obscure. Lots and lots of unpermitted work in my city. But, in nearby cities with a lot of tract homes built since 1950, work without permits is not done very often. I was told by a lender’s chief appraiser many years ago not to pull permits so the borrower would “not get into trouble”.For quite awhile, I have been pulling the old permits when needed and run the online permits on all properties. In other cities, if something does not “look right”, such as an addition, I pull the permits. 

WHAT DO YOU THINK ABOUT THIS TOPIC? POST YOUR COMMENTS AT www.appraisaltodayblog.com !

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Coming in the February 2015 Appraisal Today paid newsletter, available Monday, Feb. 1 

Adjustments, Part 1 – Are you making too many adjustments 

Huge change in supporting adjustments since Fannie’s CU started looking at them. State regulators also want to see adjustment support – don’t get sanctioned. Some reviewers want to see support. Etc. 

Some of the topics: 

– How are appraisers supporting adjustments?

– What are the most frequent adjustments?

– What are state appraisal boards looking for?

– What is CU looking for?

– Do adjustments really make a difference in the final value?

– Qualitative vs. Quantitative adjustments

– The best adjustment sources of information

Part 2 will be on types of adjustments. 

FREE TIP: 

NO ADJUSTMENT SUPPORT METHOD WILL WORK FOR ALL ADJUSTMENTS.  

Cancel at any time. For any reason!! 

To purchase the paid Appraisal Today newsletter  go to

www.appraisaltoday.com/products.htm  or call 800-839-0227. 

$8.25 per month, $24.75 per quarter, $89 per year (credit card only),  

or $99 per year or $169 for two years (no credit card required)  

Subscribers get, FREE: past 18+ months of newsletters plus 4 Special Reports!! 

If you are a paid subscriber and did not get the January 2016 issue, emailed Jan. 4, 2016, please send an email to info@appraisaltoday.com  requesting it and we will send it to you!! Or, hit the reply button. Be sure to put in a comment requesting it ;>

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Appraisal Institute falls victim to Twitter hack

Posted January 22, 2016, last Thursday

Excerpt:

Instead of tweets about the appraisal industry, tweets emanating from the Appraisal Institute’s account for the last 18 hours or so have more to do with Playboy Magazine, Hooters, David Hasselhoff, links to “sexy” videos, and other inappropriate tweets. 

Among other tweets, the hacked Appraisal Institute account tweeted out “to all staff and employees: because its so warm out today, you have to work an extra 2 hours pretending to do actual work” and “new company policy in effect: at social gatherings and events, having fun during such events is forbidden. Unless authorized.”

 As of last Friday: “It appears that the Appraisal Institute Twitter hacking of 2016 is now over, but we’ll always have the screenshots.”

Very interesting. All the old tweets were lost, except for re-tweets. See lots more, including some of the tweets at:

http://www.housingwire.com/articles/36086

 Comments from the Appraisal Institute: ” The Appraisal Institute’s Twitter account and YouTube channel were compromised last week. Twitter has since been restored, temporarily using the handle: @RealAI_National. We’re in the process of restoring our YouTube channel.” Regarding who did it: “We are investigating the matter and have no further comment at this time.”

 

My comments: I knew I shoulda re-subscribed to the AI twitter feed!! I originally subscribed in 2010 but have not been getting any tweets. I have never had any twitter feed I subscribe to get hacked… I think that the AI will get a lot of new Twitter subscribers, including me!! Subscribe to @RealAI_National. Currently 3,936 followers.  

At the bottom of the article is a comment post by Jason Constantine: “This was the work of one, former disgruntled employee with a shady criminal past. He was jaded because he was replaced with another programmer and wouldn’t take a background check. Can’t prove it but he’s hacked me several times in the past.” Makes sense to me. You don’t get much notoriety from hacking the AI. When you read the tweets in the article, it definitely sounds like an employee. Some are sorta funny ;             

 
To purchase the paid Appraisal Today newsletter  go to

www.appraisaltoday.com/products.htm  or call 800-839-0227. 

 

 

AMC Fined Over C&R Fees

Excerpts:

The Louisiana Real Estate Appraisal Board (LREAB) has again taken action to ensure that Customary and Reasonable (C&R) Fees are being paid by AMCs and lenders in the state.

On December 8, 2015, after a hearing that lasted over 12 hours and was closely watched and attended by appraisers, AMCs, and lenders alike, the Board ruled against iMortgage Services, LLC and issued a Final Order that included a fine of $10,000 and a six-month license suspension. The suspension was stayed, provided that iMortgage provides a C&R compliance plan to the Board no later than March 21, 2016 

In contrast to Louisiana’s previous C&R enforcement action involving Coester VMS, where there was no admission of guilt by Coester, this is the first judgement against an AMC that leaves no question on the determination of guilt. The Board’s final order establishes that iMortgage failed to comply with Louisiana law and violated the C&R fee requirements set in place by the Board.

Demonstrating the glacial speed at which many state board investigations operate, the initial complaint against iMortgage was filed two years ago in January 2014 after iMortgage sent out an appraisal order for a full 1004MC FHA appraisal with a fee of $200. The investigation was not opened until May 2014, with the hearing taking place in December 2015.

My comment: Almost 300 postings at http://appraisersforum.com/ . Search for AMC Fined For Not Paying C&R Fees. Warning: lots of chit chat, etc, typical for AIforum Just wade through them to get to what you want. Comments also posted after the article. 

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Very interesting workingre article. Read more here:

http://www.workingre.com/AMC-fined-over-cr-fees 

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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 www.mbaa.org 

Note: I publish a graph of this data every month in my printed newsletter, Appraisal Today. For more information or get a FREE sample issue go to www.appraisaltoday.com/products.htm  or send an email to info@appraisaltoday.com . Or call 800-839-0227, MTW 8AM to noon, Pacific time.

Mortgage applications increased 8.8 percent from one week earlier 

WASHINGTON, D.C. (January 27, 2015) – Mortgage applications increased 8.8 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending January 22, 2016.  This week’s results include an adjustment to account for the Martin Luther King holiday.

The Market Composite Index, a measure of mortgage loan application volume, increased 8.8 percent on a seasonally adjusted basis from one week earlier.  On an unadjusted basis, the Index increased 0.3 percent compared with the previous week.  The Refinance Index increased 11 percent from the previous week.  The seasonally adjusted Purchase Index increased 5 percent from one week earlier. The unadjusted Purchase Index increased 0.4 percent compared with the previous week and was 22 percent higher than the same week one year ago.

 

The refinance share of mortgage activity decreased to 59.0 percent of total applications from 59.1 percent the previous week. The adjustable-rate mortgage (ARM) share of activity increased to 6.9 percent of total applications.

The FHA share of total applications decreased to 12.7 percent from 13.7 percent the week prior. The VA share of total applications increased to 11.1 percent from 10.8 percent the week prior. The USDA share of total applications remained unchanged from 0.7 percent the week prior.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,000 or less) decreased to its lowest level since October 2015, 4.02 percent, from 4.06 percent, with points decreasing to 0.40 from  0.41 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans.  The effective rate decreased from last week.

The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $417,000) decreased to 3.89 percent from 3.93 percent, with points decreasing to 0.25 from 0.31 (including the origination fee) for 80 percent LTV loans.  The effective rate decreased from last week.

The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA decreased to 3.83 percent from 3.86 percent, with points increasing to 0.38 from 0.36 (including the origination fee) for 80 percent LTV loans.  The effective rate decreased from last week.

The average contract interest rate for 15-year fixed-rate mortgages decreased to 3.28 percent from 3.29 percent, with points decreasing to 0.37 from 0.39 (including the origination fee) for 80 percent LTV loans. The effective rate decreased from last week.

The average contract interest rate for 5/1 ARMs decreased to 3.09 percent from 3.20 percent, with points increasing to 0.34 from 0.18 (including the origination fee) for 80 percent LTV loans.  The effective rate decreased from last week.

If you would like to purchase a subscription of MBA’s Weekly Applications Survey, please visit www.mba.org/WeeklyApps, contact mbaresearch@mba.org.

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

Not sure if you want to subscribe to the Paid Appraisal Today?

CLICK HERE TO GET A FREE SAMPLE OF THE 

PAID APPRAISAL TODAY NEWSLETTER!! 

Posted in: adjustments, AMCs, appraisal business, Appraisal fees, appraisal management company, appraisers, fees, forecast, future, lender appraisals, Mortgage applications, mortgage loan volume, state appraiser regulators, Strange homes, unusual home, unusual homes, weird homes

Do you check to see if permits were pulled on remodeling on subject properties?

POLL: Do you check to see if permits were pulled on remodeling on subject properties?

Source: www.appraisalport.com Vote in their current poll:

Do you consider appraisal trade groups important to the industry?
My comment: A controversial topic. I’m not surprised at the results. However, if permits are online and free I don’t know why appraisers would not get them. In my city, free online records only go back to about 1970. Most of the homes were built before 1940. It costs $15.25 to get a full permit history and it can take up to a week to get it. The old records are a bit flakey, such as “remodeling” or something else very obscure. Lots and lots of unpermitted work in my city. But, in nearby cities with a lot of tract homes built since 1950, work without permits is not done very often. I was told by a lender’s chief appraiser many years ago not to pull permits so the borrower would “not get into trouble”.For quite awhile, I have been pulling the old permits when needed and run the online permits on all properties. In other cities, if something does not “look right”, such as an addition, I pull the permits.

Appraisal Today newsletter

Posted in: appraisal, appraisers, lender appraisals

Where VA loans are soaring. Are you doing VA appraisals?

Excerpt:
With features including no required down payment or minimum credit score, the Department of Veterans Affairs mortgage guarantee program is a popular home finance choice for servicemembers and lenders alike. That trend continues in 2015, when 14 markets had more than $1 billion in VA mortgage lending during the first half of the year, compared to just five during the same time in 2014. From the Capitol region to Southern California – and many places in between – here’s a look at the top 10 markets for VA mortgage lending. The data, from RealtyTrac, is based on metropolitan statistical areas ranked by total VA originations during the first half of 2015, along with the year-over-year increase for that market.

My comment: Still not doing VA appraisals? They are the only client I know that has stated fees and no big hassles, scope creep, etc. I have an article on how to get on the VA panel, the plusses and minuses, etc. I spent a lot of time interviewing VA employees and fee appraisers. “VA is looking for fee appraisers! C/R fees and no AMCs!!” Read this article before applying for the panel or to find out why you can’t seem to get on the panel.It is in the June 2014 issue of Appraisal Today, available free to all paid subscribers.

From this week’s MBA loan volume report:

The FHA share of total applications is 13.7. The VA share of total applications is 10.8 percent . I have no idea why so many appraisers don’t want to work for VA but do FHA appraisals with the considerable inspection requirements!!

Appraisal Today newsletter

Posted in: AMCs, appraisal, appraisal business, appraisal management company, lender appraisals, va

Meet Widget O'Rourke – our new Appraisal Today cat team member!!

I am not sending our my Regular Thursday email newsletter this week. Just some fun photos of Widget O’Rourke!! More info after the photos. 
 
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Trying to supervise the humans. They can never understand what I am trying to say!!

Exercise time – getting bored!

Waiting for my human chaffeur. I’m ready to go!!

I’m not sure about this neighborhood!!

Is that a mouse??
   
Checking out the overgrown landscaping for any rodents…

2 stories or 3 stories?

Checking for any foundation mouse holes

Measuring the house. The human makes me take the “dumb end” of the tape. I should be on the smart end!!

Finally back home. Nap time!!
More info:
Age: 5 months
Birthday: July 29, 2015
Weight: 4 pounds
Breed: Burmese
Language: Cattish with Siamese accent
Personality: very friendly, likes to travel and play, talks a lot, not afraid of anything except skateboards
About cats, cars and leashes
Cats are very easy to train. A popular method for all pets is clicker training. Just google it. Leash/harness training is best if started when a kitten. I brought Widget home October 31 (3 months old) and started leash and harness training the next week. She learned it within a day and I started taking her on “walks” in the back yard and on the sidewalk on my street.
She did not like being in the car inside the cat carrier. Cats like to look out. Finally figured out how to get her to ride in the car – purchased a raised seat with an attached leash.
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In my 20’s I took several long trips with my cat in a van I converted (traveled 3-6 months at a time). The cat was not on a leash and harness. Went in and out of the van. When I was backpacking she followed along running in the bushes. I am finally traveling with my cat again!!!
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I am not taking her out on inspections for now… she is very easily distracted ;> She loves traveling to take comp photos.
Posted in: appraisers, cat, pets

How to Stay Happy as an Appraiser

How to Stay Happy as an Appraiser with Ann O’Rourke – Dustin Harris Podcast 12/13/15

In a recent paid Appraisal Today newsletter I wrote an article: “Staying positive with unreasonable fees and Scope Creep from AMCs”. In my article I go over many ways to be positive. These ideas are not new and have been around for many decades. I applied them to appraisers.

Whenever I do public speaking, I am much more “out there” than I am when I write. I am much more spontaneous, similar to when I am interviewed for podcasts.

I don’t think that there have ever been as many dissatisfied residential appraisers as there are now, primarily due to several factors:

– AMC and over-management of appraisers

– Low AMC fees for the work required

– Ever increasing requirements from investors and lenders

I know many long time residential appraisers who have quit appraising because they don’t want to work for AMCs. If I could only get work from AMCs, I would have quit also. But, I also know appraisers who do a lot of AMC work and they are satisfied with it. Dustin is a good example. They modified their businesses. I also know appraisers who do very little AMC work.

All successful business people have a positive attitude. Some of us are fortunate to be born that way. But, you can change your attitude.

Click here to listen

http://theappraisercoach.libsyn.com/075-how-to-stay-happy-as-an-appraiser-with-ann-orourke

 

To subscribe or listen on other web sites, go to

– Android – http://www.stitcher.com/podcast/the-appraiser-coach

– iTunes – Subscribe to the podcast so you don’t miss any! I am a subscriber.

https://itunes.apple.com/us/podcast/the-appraiser-coach-podcast/id966765322

– Website – http://theappraisercoach.libsyn.com/

Appraisal Today newsletter

Posted in: AMCs, appraisal management company, forecast, future, lender appraisals, new appraisers

ID badges for appraisers? A controversial topic

 

Excerpts:
Appraisers are not required to provide identification (in California), even a driver’s license, when they come to a house, do not always look the part and can cause alarm if not expected. One Orange County company says that is a problem.

Six months ago, Mission Viejo-based Comergence rolled out something the appraisal industry has never had – shiny ID badges.

Since the service started, just 22 of roughly 300 appraisers in San Diego County have signed up and the head of local industry group, the Appraisal Institute, says she thinks she knows why.

“A badge doesn’t identify you any differently than a business card does,” local Appraisal Institute president Susan Merrick said. “It’s pretty much typical operating procedure to give a business card when you go to the door… From a residential standpoint, it’s totally useless as far as I’m concerned.”

The state Bureau of Real Estate Appraisers says there is no law requiring appraisers to carry identification and has no opinion on Comergence.

Bureau head Jim Martin said he is not aware of any recent occurrences, at least in the last two years, of someone posing as an appraiser.
A San Diego commercial appraiser with 30 years experience, Gary Rasmuson, has pushed for a badge for the industry for years and even created his own.

My comments: This is controversial among appraisers. Many years ago, the chief appraiser for a lender told me that appraisers should not give a business card to the borrower. Of course, I didn’t agree. I have always give out business cards as that is a good source of referrals for me for non-lender work. I also want to be seen as a professional.

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Posted in: appraisal, appraisal business, appraisers, ID badges, lender appraisals

7 Things an appraiser has to be thankful for

 

NO WORKING ON THANKSGIVING!! USPAP VIOLATION!!! THE APPRAISAL POLICE ARE WATCHING YOU!!!

 
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7 Things an appraiser has to be thankful for
Most Excellent comments By Tom Horne on his blog
I didn’t have time to contact Tom for permission to read his entire blog posting. It is worthwhile reading.
It’s easy to get caught up in the negative parts of our jobs, however I would guess that if we all thought about it we would find more positive Things an appraiser has to be thankful for things than negative. It’s always nice to have something like Thanksgiving to help us reassess our situation. Appraisers are no different than anyone else.
  1. Relaxed work schedule- The majority of appraisers work for themselves and enjoy a relaxed work schedule.
  2. You can pick and choose your clients.
  3. You’re in total control of your success.
  4. Good blend of working in and out of the office. I like my job because I don’t have to sit at my desk all day. I am able to work outside of the office during appraisal inspections which helps me to not get bored with what I am doing.
  5. You have control over how much money you make. A good part of owning your own business is that you are in charge of everything you do.
  6. Current trends in grassroots efforts. … some positive changes that have resulted from this is the trend in appraisers starting to take control of the situation and make themselves heard through the use of social media and state coalitions.
  7. Better tools for doing our job.
Read the details at:

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Appraiser income and expenses

APPRAISER INCOME AND EXPENSE POLLS

Appraisalport poll, 11-15, www.appraisalport.com
Considering all aspects of completing an appraisal (research, driving, inspection, writeup, etc.) what response do you think best represents your hourly wage?
My comment: Of course, this is gross, before any expenses, auto, insurance, MLS, software, etc. etc. I wonder about those making less than $25 per hour.
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In the past year, have your operating expenses:
My comment: Expenses going up, nothing new. See above poll for hourly income. What is happening with your expenses?

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Very funny appraiser commercial!!

The podcast, The Wits End Broadcast, is very “off the wall”, including “fake” commercials. I suggested including an appraiser commercial. It is hilarious!!

Episode 4, the most recent, has the appraiser commercial – appraiser Candy Cotton, short – only 7 minutes long for the entire episode. Hits a lot of appraiser “hot buttons” ;>

You gotta listen to it!! Plus, check out her other 3 posted podcasts. Please post a comment on iTunes or Stitcher.

Stitcher:

http://app.stitcher.com/browse/feed/75222/details Can link to social media, post a comment, get an app to subscribe on your iphone or android phone, etc.

iTunes:

https://itunes.apple.com/us/podcast/the-wits-end-broadcast/id1048415737?mt=2 The best if you use iTunes. iTunes has labeled the podcasts as “explicit”. Sorry, not much in them except for a brief very humorous reference to group sex in an early episode ;>  My iphone has Gigabytes of podcast from subscriptions, including this one. I gotta take off a week to listen to them!!

Libsyn:

http://thewitsendbroadcast.libsyn.com/ – very easy to use but not many features such as comments, social media links and subscriptions.

About the podcast author: The podcast author and speaker is Lucinda Ryan, who edited my paid Appraisal Today newsletter for a few years when I first started it in 1992, and knows about appraisal issues. She is a former newspaper reporter and editor. Lucinda loves comedy writing and always wanted to do more, including writing for a few Famous Comedians and making lots of money ;> Maybe her podcasts will take off and I can say that I knew her “back in the old days”.

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Posted in: appraisal business, appraisers, humor