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10 Very Unique Bathrooms for Appraisers

By on January 10, 2020   /  Leave a comment

Unique Bathrooms

Excerpt: The world is filled with remarkable restrooms. Some of them are no longer open to the public, such as the Stufetta del Bibbiena, a small bathing chamber with erotic-art-covered walls in the Vatican’s Papal Apartments. Others have been transformed into something totally new, like the London coffee shop that was once a Victorian urinal. But there are plenty of breathtaking bathrooms that are publicly accessible and just waiting to be wetted. These are 10 of the world’s most opulent and bizarre bathrooms. These 10 Very Unique Bathrooms for Appraisers are fascinating and unique!

Here are a few

  • Two story bathroom
  • Berlin Wall urinal
  • World’s Most beautiful public toilet

To read lots more info and see the good fotos To read more, click here

My comments: FYI, bathrooms are one of the very most popular topics in these free appraiser weekly emails. I have no idea why ;>

Appraisal Humor

Appraisal business tips

Covid-19 Residential Appraisers Tips on Staying Safe

Very unusual bathrooms for appraisers(Opens in a new browser tab)

To read about lots more appraisal topics, continue reading below!

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Posted in: adjustments, AMCs, appraisal business, appraiser shortage, Mortgage applications, mortgage loan volume, real estate market, unusual homes
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Arm’s-Length Transaction for Appraisals

By on January 3, 2020   /  Leave a comment

Arm’s-Length Transaction for Appraisals

By Dustin Harris
Excerpt: USPAP does not define the term arm’s-length transaction. Fannie Mae also lacks such a definition. Yet, both of them call for the appraiser to use only arm’s-length transactions as comparable sales…

How often do we appraisers get into the mode where we think we know it all? Occasionally, do we need to step back and look at the way we do things, just to make sure we are not missing something? Is what we know to be true and correct really true and correct? I raise this issue relative to the concept of what an arm’s-length transaction is. Are we truly aware of its definition and its application?
To read more, click here

My comment: There are too many phrases widely used without definitions!!

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Posted in: adjustments, appraisal business, weird homes
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Very Funny appraisal commercials

By on December 27, 2019   /  Leave a comment

Very Funny appraisal commercials
Just For Fun (and maybe some ideas)

Here are a few titles:
  • Hire An Appraiser… Avoid Getting Into A Stinky Situation!
  • Looking For An Appraiser? Ask Any Cat!
  • Homeowners, Don’t Get Eaten Alive By The Shark

To read more and see the Fun Videos, click here

My comment: I love the humor at https://clevelandappraisalblog.com Fun animated gifs and video commercials!!!

Appraisal Business Tips 

Humor for Appraisers

Covid-19 Residential Appraisers Tips on Staying Safe

To read more of this long blog post, click Read More Below!!

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Posted in: adjustments, appraisers, climate change, FUN, humor, Mortgage applications, new appraisers
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$1 Billion Appraisal Error

By on December 20, 2019   /  Leave a comment

Bad News: Dropped Phone Causes Utah Home to be Valued at Nearly $1B

A Very Strange Story!!

Excerpt: The 1,570-square-foot house built in 1978 on 2 acres in an unincorporated area of the county was recorded in 2019 tax rolls with a market rate value of more than $987 million and an overestimate of about $543 million in taxable value. In reality, the property should have only had a 2019 taxable value of $302,000, according to county property records.

That error — which the Wasatch County assessor explained possibly occurred when a staff member may have dropped their phone on their keyboard — has resulted in a countywide overvaluation of more than $6 million and revenue shortfalls in five different Wasatch County taxing entities.

To read lots more, click here

My comment: Wow!! Makes AMC and client complaints (and appraiser typos) fade away in comparison!! $1 Billion Appraisal Error

Appraisal Business Tips 

Humor for Appraisers

Covid-19 Residential Appraisers Tips on Staying Safe

To read more of this long blog post, click Read More Below!!

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Posted in: AMCs, appraisal business, appraisal management company, bad appraisers, FUN, Mortgage applications, mortgage loan volume, real estate market, unusual homes
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What is “retirement” for appraisers?

By on December 13, 2019   /  Leave a comment

Appraising in Retirement

by Isaac Peck

Excerpt: According to the Appraisal Institute’s latest Valuation Professional Factsheet (Dec. 2018), over 70 percent of all licensed or credentialed appraisers across the U.S. are over 50 years old, with over 20 percent being over 66 years old. As appraiser demographics continue to shift older and grayer, some within the industry have predicted sharp declines in the number of practicing appraisers as they begin to retire. However, as the numbers show, appraising appears to be an optimal career to continue part time, in retirement.

Melvyn Wolf, a Certified Residential appraiser, licensed in Illinois and Wisconsin, is one such appraiser. Born in 1942, Wolf is 77 years old and has been a real estate appraiser for 33 years. He says he will continue appraising as long as he is physically fit and in good health. Here’s his story.

To read more, click here

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My comments: The July 2018 issue of Appraisal Today had my article: “Retirement for fee appraisers: when, why, and lots of options”. I discussed when to take social security, fixed costs, burnout, spouse retirement, etc. Also, for self employed people what does retirement mean? For appraisers, including myself, often you gradually cut back on appraisals. I am 76 and started Social Security at age 70. It is currently $3,470 per month and 85% taxable. It goes on top of my business income and puts me in a high marginal tax rate. I can’t cut back easily on my newsletter business, so I do fewer appraisals. What is “retirement” for appraisers?

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What is “retirement” for appraisers??

An Appraiser’s Full Circle

By Mike Foil

Excerpt: A couple of years ago, I asked my brother who had just closed his business, “How do you know when you are done and it’s time to retire?” He answered, “When it is time, you will know.”

There are considerations: health, finances, what to do, and the passion you still have for appraising. I’m turning 70 in a few months and enjoy good health. We see a path financially without the need for appraisal fees; however, having just received payment for the last file in accounts receivable did put a stamp of finality on the decision. I have ‘projects’ to work on: thinning trees and brush on four acres I want to split into three building sites, writing a study on “The Salvation of the Soul,” and family time (wife, kids, and 16 grandkids). As for my passion for appraising, it is gone.

To read more, click here

Appraisal Business Tips 

Humor for Appraisers

Covid-19 Residential Appraisers Tips on Staying Safe

Appraiser retirement plans?(Opens in a new browser tab)

To read more of this long blog post, click Read More Below!!

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Posted in: appraisal business, bifurcated appraisals, george dell, hybrid appraisals, Mortgage applications, unusual home, va
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Appraisal Neighborhood Analysis

By on December 7, 2019   /  Leave a comment

What is so Important About the Damn Neighborhood Analysis that the Reviewer Nicked me for it?

By Tim Andersen, MAI

Excerpt: Question: in a recent review of one of my appraisal reports, the reviewer said my neighborhood analysis was poor. I asked what that meant and she indicated I should familiarize myself with Fannie Mae’s requirements for a NEIGHBORHOOD ANALYSIS. She also indicated what I had in my report was just a recitation of facts, but (a) lacked any analysis of neighborhood trends and (b) therefore I did not analyze the neighborhood sufficiently to reconcile my conclusions of the neighborhood trends and its effect on both my highest and best use conclusion and my final value opinion. I came in just over the contract price. What does the reviewer want from me? I did what I always do in an appraisal! Help me!

For the answer, click here

My comment: Tim always has great answers for appraiser questions! He is a regular contributor to the paid Appraisal Today, with articles on USPAP 2020-2021, state board problems, etc.

Appraisal Business Tips 

Humor for Appraisers

What to Do When Your Appraisal Is Under Review(Opens in a new browser tab)

Covid-19 Residential Appraisers Tips on Staying Safe

To read more of this long blog post, click Read More Below!

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Posted in: AMCs, appraisal business, appraisal how to, AVMS, computers, marketing, Mortgage applications, mortgage loan volume, real estate market, Strange homes
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7 Ways to Not to Choose Appraisal Comps

By on November 29, 2019   /  Leave a comment

By Tom Horn

Excerpt: Here are three of the topics:

1) I’m taking what I think the home is worth based on the owners estimate and looking for sales in this price range

4) Using higher sales from another neighborhood when there are good sales within my own subdivision

6) Using price per square foot

To find out what Tom says and the other 4 ways, click here

My comment: written for real estate agents, Tom Horn’s primary referral clients, but useful for appraisers. Maybe it will help you explain about comps to agents, or why you did not use the comps they provided. I always take whatever sales and listings the agents have. Sometimes the MLS has it miscoded somehow and I miss it. Or, there is a “pocket” listing that sold but was never listed on the MLS. Also, I never want to miss a sale very close to the subject, if only to mention it and explain why I did not use it!! 7 ways to choose comps gives you some ideas.

Appraisal Business Tips 

Humor for Appraisers

Covid-19 Residential Appraisers Tips on Staying Safe

To read more of this long blog post, click Read More Below!!

Read more!! →

Posted in: appraisal business, appraisal how to, bifurcated appraisals, george dell, hybrid appraisals, Mortgage applications, real estate market, unusual homes, va, weird properties
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Previous Career Before Appraising

By on November 22, 2019   /  Leave a comment

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 liked 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.

Appraisal Business Tips 

Humor for Appraisers

Covid-19 Residential Appraisers Tips on Staying Safe

The future of residential appraising(Opens in a new browser tab)

To read more of this long blog post, click Read More Below!!

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Posted in: adjustments, AMCs, appraisal business, Appraisal fees, appraisal management company, lender appraisals, Mortgage applications, real estate market
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Angle Measurements for Appraisers

By on November 15, 2019   /  Leave a comment

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!!

Appraisal Business Tips 

Humor for Appraisers

Covid-19 Residential Appraisers Tips on Staying Safe

To read more of this long blog post, click Read More Below!!

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Posted in: adjustments, appraisal business, bifurcated appraisals, real estate market, square footage, zillow
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Join the National Appraisers Online Forum

By on November 8, 2019   /  Leave a comment

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 for me to follow the threads, so I don’t go there very often. But, it may work for you. Join the National Appraisers Online Forum!

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.

Appraisal Business Tips 

Humor for Appraisers

Covid-19 Residential Appraisers Tips on Staying Safe

How to communicate with appraisers online

To read more of this long blog post, click Read More Below!!

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Posted in: Appraisal fees, bifurcated appraisals, Fannie, fees, george dell, Mortgage applications, weird properties, zillow
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