Appraisal News and Business Tips

appraisal business

Newz// Accessory Dwelling Units .FHA webinar .Analysis of FHA 4000.1 changes

Why It’s Impossible to Know a Coastline’s True Length

Measuring around bodies of water is a mathematically impossible

Excerpt:

Imagine, for a moment, that you and your friend have been given a seemingly straightforward task: to measure the coastline of Puget Sound, in Washington State. Resources are tight, so you’ve got a yardstick, while your friend has a foot-long ruler. You each walk along, laying your measuring stick along the edge of the water, following the the ins and outs of the shore as best you can. When you’re finished, you compare notes-and you’re shocked. While you ended up with a respectable 3,000 miles, your friend and his foot-long got a way higher number, somewhere around 4,500 miles.

You guys aren’t crazy. You’re victims of the coastline paradox, a tricky mathematical principle that messes with cartographers, stymies government bureaus, and makes it impossible to know exactly how big our world truly is.

http://www.atlasobscura.com/articles/why-its-impossible-to-know-a-coastlines-true-length

My comment: Fascinating article!! Looking at the Big Picture. All appraisers take measurements. It seems so easy… most of the time…

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Webinar Title: NEW
FHA Appraisal Essentials – An In-Depth Look
Date/Time:
Pre-recorded: September 14, 2016 / Duration: 115 minutes
Registration Link:
Description:
This pre-recorded webinar provides an in-depth look at a variety of property appraisal topics such as: property acceptability criteria; minimum property requirements; property defects; appraiser responsibilities and requirements; and, much more. The webinar is targeted primarily to FHA roster appraisers, underwriters, processors, and other appropriate mortgagee staff involved with the appraisal review and mortgage approval process.
 
Special Instructions:
This webinar is now available 24/7 for viewing.

NOTE ON LINK: it looks like you are registering for the September live session. Just fill it out and a link to the webinar will appear.


Read more!!

Newz// Giant turtle home, Revised FHA 4000.1, Bad AMCs

The Most Unusual Homes Available Right Now, for sale or for rent, From A Luxury Cave To A Giant Turtle

Excerpt:

Good investment or not, wacky homes sure are fun to look at and can be rewarding to owners in ways more profound than money (more on that below). So we went in search of some of the most interesting homes available today. We found a house shaped like an onion, an Irish castle and a home meant to look like a fishing reel.

My comment: Just For Fun!! I wanna rent one of the vacation rentals. The Turtle House in Egypt is only $54 to $96 per night!! And you thought some of the weirdo homes you appraised were strange… take a look at these! And, of course, Ace Appraiser Jonathan Miller is mentioned in the first paragraph ;>

http://www.forbes.com/sites/samanthasharf/2016/09/23/from-gold-mines-to-torpedo-testing-plants-the-most-unusual-homes-available-right-now/

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What is your current appraisal turn time (order receipt to submission)?

www.appraisalport.com poll

 

 

My comment: I wonder how many are over 2 weeks? 8 weeks?

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

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Viginia Coalition of Appraiser Professionals (VaCap) Open Letter to AMCs

A few weeks ago, Virginia Coalition of Appraiser Professionals (VaCAP) sent out an open letter to the AMCs. This letter was republished by many coalitions, and appraiser groups across the country; liked and shared on Facebook and broadcast on several industry blogs. VaCAP received an overwhelmingly positive response from the letter. We even heard from several Realtors applauding our efforts! Activity is still ongoing with comments! Click here to read the letter and comments!

We heard you loud and clear…

The letter can now be signed by individual appraiser here on AppraisersBlogs. We will gather signatures and submit the signed letter to the FDIC, CFPB, Comptroller of the Currency and our Federal Reserve Board.

Note: To protect the appraiser identity from retaliation, only the initial of your last name and state will show on line. The copies sent to the FDIC, CFPB, Comptroller of the Currency and our Federal Reserve Board will have your full name.

Excerpt of a few points on the list:

  • – The use of an AMC has decreased the income of the appraiser, thereby harming local economies.
  • – The use of an AMC has increased the turn time for the delivery of the appraisal.
  • – AMCs operate on a fast and cheap model which has deteriorated the quality of appraisals
  • – AMCs have caused undue stress on the appraiser by demanding constant updates
  • – AMCs hire unqualified employees that lack comprehension of the appraisal process.

My comment: I usually don’t put in links to negative blog posts, but this seems to hit all the AMC issues, plus has something you can do. AMCs have been around since the 1960s but were never like this before. It is definitely a Big Mess and bad for the consumer (higher appraisal fees, delays in getting loans, etc.) Of course, they are doing what their lender clients want, but their methods are not good. There are some AMCs that are okay. Some appraisers have found a few they work for. Note: There is an ad in the middle of the post.

http://appraisersblogs.com/appraisers-sign-vacap-amc-letter/

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In the October 2016 issue of Appraisal Today

Fees are going way up!! How to get higher appraisal fees during this boom time!! By Ann O’Rourke, MAI, SRA, PDQ and Doug Smith, SRA, AI-RRS . Lots and lots of practical tips.

Excerpt from the article:

How many appraisers are raising their fees?

I have been telling appraisers to raise their fees since early 2015. Below are two results of

appraisalport weekly polls.

Results from an April 2015 AppraisalPort weekly poll

Question: How long has it been since the last time you actually raised your fees?

  • 1 year 17%
  • 2-3 years 18%
  • 4-6 years 18%
  • 7+ years 26%
  • I can’t remember – I normally just accept the fee my client offers. 21%

Back in April 2015 not many appraisers were raising their fees.

In the past year, have your standard fees for a typical non-complex assignment changed?

Results from Appraisalport September 2016 poll.

  • Decreased 3
  • Stayed about the same 42
  • Increased by less than $50 27%
  • Increased by less than $100 18%
  • Increased by more than $100 11%

More appraisers are raising their fees in 9/16, but 45% have not still raised their fees! A few years ago I raised my non-lender fees to close to what borrowers pay. Why do appraisers keep working for low fees when they are so busy that they can’t take any more work? Or, they are not super busy, but want to get higher fees? Fear of never getting any more work. This is common to almost every business person, including myself. But it is not good when it keeps you from making more money, as it always does.

To read the full article with lots more data and practical tips for getting higher fees, plus 2+ years of previous issues, subscribe to the paid Appraisal Today.

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or $99 per year or $169 for two years

Subscribers get, FREE: past 18+ months of past newsletters

plus 4 Special Reports, plus 2 Appraiser Marketing Books!!

To purchase the paid Appraisal Today newsletter go to

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

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17 Things Appraisers Should Do Before Hiring an AMC Client

October 4th, 2016 9:54 AM

Here are two of them:

7. Google the AMC’s name and see what comes up. This might seem obvious, but some AMCs have been in the news for lawsuits related to unfavorable treatment of appraisers. You do not want to waste your time vetting an AMC that has a bad reputation. Even if no lawsuits come up, a quick Google search could result in a feel for the company and let you know if this is a company you want to work for. Remember that homeowners might think you work for this AMC when you show up to do the appraisal. Is this a company that you are okay with if homeowners get confused and think you work for them?

17. Check the AMC’s data protection policy and ask what steps have been taken to keep your private information safe. Also ask if the AMC has ever had any data breaches and if so, determine what systems have been put into place to ensure that data breaches do not happen again. Does the AMC have a policy that requires them to alert appraisers if they believe a data breach was possible?

Click here for the full Most Excellent List!!

www.aqualityappraisal.com.blog

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AMC Notes from Appraiserville by Jonathan Miller

Excerpts:

There was a CNBC article this week by Diana Olick that caused an uproar in the appraisal industry: ‘Massive’ shortage of appraisers causing home sales delays. Besides the incorrect inference of the title, the article was centered around Brian Coester, CEO of the Maryland-based CoesterVMS, currently one of the most controversial personalities in the appraisal management industry…

So I spoke with Diana Olick about the article this morning. I’ve known her for a long time and read all her stuff. She clearly did not realize what CoesterVMS represents to the appraisal industry but learned this from the outpouring of negative comments on the article by outraged appraisers. She understands now. How great is it that appraisers are getting out there and speaking their mind!

I told her that Coester is a notorious AMC in the middle of a big lawsuit that the entire appraisal industry is following. The shortage of appraisers is a myth being perpetuated by AMCS like Coester since their model only works if they pay appraisers a third to half the market rate for appraisal services.

My comment: I definitely think the current AMC model is broken, from the consumer, lender, appraisal and appraiser sides. I don’t really understand how it got so bad. I started writing in my paid newsletter about AMCs in the early 1990s. AMCs started in the were never like this before. Mostly they just paid lower fees. None had really low fees, scope creep, harassing and demeaning appraisers, etc.

To read more, Scroll down the page to Appraiserville

http://www.millersamuel.com/note/september-30-2016

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Miller was on a recent Voice of Appraisal radio interview with Phil Crawford.

Miller’s interview starts at -25:09 or 17:20 (download) 43:31 minutes total

http://www.voiceofappraisal.com/podcasts Episode 123

My comment: In last week’s email newsletter I said that the 2016 peak is almost up to the 2013 peak. In 2013 no one was complaining about high fees and turn times. In their discussion Miller said it was different because of CU/Scope Creep. He also said that business had been very slow between 2008 and 2012 and appraisers were glad for work. Appraiser attitudes about working for AMCs is much, much worse now. Good comments…Very few appraiser complaints about direct lenders and non-lender work.

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Revised FHA handbook

Thanks to Dave Towne for this info!

HUD/FHA recently updated and revised the 4000.1 Handbook…..actually on June 30, 2016………..but notice about this was sent out Friday, Sept. 30.

http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/sfh/handbook_4000-1

When the page opens, scroll down the page and you’ll see two entries on the left regarding the Handbook. If you open the PDF link, and let it load…it will actually show you the changes made to the appraisal section (and others).

Note….the handbook is 1000+ pages, but only about 40 or so apply to appraisals.

Note that the revised handbook has ‘moved’ the Appraiser and Property Requirements section to II D, from its former position in B.

Buried in the revision is new info on how to account for specific named ‘appliances’ in a home you are appraising. See II D 3e.

It’s going to take someone with more time (than I have now) and expertise to determine what exactly HUD changed in the reporting requirements about “appliances that remain and contribute to value.” One needs to read the former 4000.1 Handbook and compare that to this revised edition to fully understand the implications of what HUD wants reported.

You will want to compare the attic observation requirement also. Revision 4000.1 has this in II D 3k.

Crawl space observation is in II D 3m.

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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 https://www.mba.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/productsor send an email to info@appraisaltoday.com . Or call 800-839-0227, MTW 8AM to noon, Pacific time.

WASHINGTON, D.C. (October 5, 2016)

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 30, 2016.

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 3 percent compared with the previous week. The Refinance Index increased 5 percent from the previous week. The seasonally adjusted Purchase Index decreased 0.1 percent from one week earlier. The unadjusted Purchase Index decreased 0.2 percent compared with the previous week and was 14 percent lower than the same week one year ago.

The refinance share of mortgage activity increased to 63.8 percent of total applications from 62.7 percent the previous week. The adjustable-rate mortgage (ARM) share of activity increased to 4.5 percent of total applications.

The FHA share of total applications decreased to 10.0 percent from 10.2 percent the week prior. The VA share of total applications decreased to 11.4 percent from 11.9 percent the week prior. The USDA share of total applications increased to 0.7 percent from 0.6 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 3.62 percent, the lowest level since July 2016, from 3.66 percent, with points decreasing to 0.32 from 0.33 (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 3.60 percent from 3.64 percent, with points decreasing to 0.25 from 0.28 (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 3.50 percent from 3.52 percent, with points decreasing to 0.16 from 0.21 (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 2.93 percent from 2.95 percent, with points decreasing to 0.32 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 5/1 ARMs remained unchanged at 2.92 percent, with points increasing to 0.44 from 0.40 (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.

What percentage of your work do you receive from AMCs?

My comment: Looks like there are some appraisers who don’t work for AMCs. I had expected higher percentages that worked mostly for AMCs.  Now that business is strong, some appraisers don’t work for AMCs, or take less work from them. When business is slow, they do more work for AMCs.

7-28-16 Newz Origin of tiny houses – HUD warning letters – FHA transfers

The Surprising Origins of the Tiny House Phenomenon

Why ancient hermits are the key to understanding our tiny home obsession

Excerpts”

Invariably, someone will remind you that civilization emerged from tiny houses-caves, yurts, tents, wigwams, igloos, grass huts, and so forth.

These early antecedents are beside the point. Sioux, Samoans, and Inuits were not offered more spacious alternatives. But people who opt for tiny houses-meaning the kind that tug at heartstrings and star on cable-generally choose to live small. The reasons aren’t just practical, but also ethical and emotional.

the true parents of tiny-house living are hermits. From the ancient Chinese Taoists in mountain caves to the Desert Fathers of third century Christianity and onward (the word “hermit” derives from the Greek word for “desert”), hermits were the first people to actively downsize to confined, remote, and minimally furnished living spaces.

Read the full story here:

http://www.curbed.com/2016/7/13/12162832/tiny-house-history-hermits

My comment: The most interesting article I have read on tiny houses. Of course, I started sailing sailboats in the early 1970s. Living aboard a sailboat is the Ultimate Tiny House!! Narrow and long but very portable… Another good link from Jonathan Miller…

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FHA Case Transfer, issued July 26, FHA INFO #16-49

Mortgagees should note the following about case transfers relative to appraisal reports in both the EAD (electronic appraisal delivery) portal and FHAC:

Read more!!

7-21-16 Newz//Bracketing-AMC staff appraisers-Appraiserville

8 Spooky New York Places That Should Be in the New Ghostbusters Movie

There’s something strange in these neighborhoods.

Excerpt: Here is one, but you gotta see the photos and the other 7!!

The Morris-Jumel Mansion

On a hill overlooking the Harlem River, the stately Morris-Jumel mansion is not only Manhattan’s oldest home but supposedly one of its most haunted. Its macabre history started after owner Stephen Jumel died in 1832. His wife Eliza was rumored to have had a hand in the death-there was some suspicion afoot that she orchestrated the carriage accident that killed him….

Take a break from typing appraisal reports and check it out!!

http://www.atlasobscura.com/articles/8-spooky-new-york-places-that-should-be-in-the-new-ghostbusters-movie

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The Shrinking of the American Lawn

As houses have gotten bigger, yard sizes have receded. What gives?

Excerpts:

The American house is growing. These days, the average new home encompasses 2,500 square feet, about 50 percent more area than the average house in the late 1970s, according to Census data. Compared to the typical house of 40 years ago, today’s likely has another bathroom and an extra bedroom, making it about the same size as the Brady Bunch house, which famously fit two families.

This expansion has come at a cost: the American lawn.

As homes have grown larger, the lots they’re built on have actually gotten smaller-average area is down 13 percent since 1978, to 0.19 acres. That might not seem like a lot, but after adjusting for houses’ bigger footprints, it appears the median yard has shrunk by more than 26 percent, and now stands at just 0.14 acres. The actual value lies somewhere between those two numbers, since a house’s square footage could include a second (or third) floor. Either way, it’s a substantial reduction.

Read the full story at: Very interesting!!

http://www.citylab.com/navigator/2016/07/the-shrinking-of-the-american-lawn/490157/

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There Go My Brackets

From the Illinois Appraiser June 2016

Excerpt:

Is it a USPAP violation to fail to bracket or end up with a tight bracket?

Read more!!

6-30-16 Newz // Most dangerous roads-Fees going up-Brexit and mortgages

The most dangerous places to drive in the world

Take a break and check out these places…

Excerpt:

Driving can be dangerous, and every one of us who attempt to control those speeding steel boxes of ours will, at some time or another, experience a dangerous or life-threatening situation. But the truth is, despite the occasional error of judgement or climate, driving in the US is largely safe, and you will most likely get to your destination calm and in one piece (or just in one piece, because traffic, right?). The world, however, is not the US, or even western Europe. And as you will see, driving styles, laws, and road conditions vary so much, that what might be an everyday commute for a native of Afghanistan would be a death-defying (or outright death-inviting) thrill ride for a driver in the Land of the Free.

http://www.grunge.com/15503/dangerous-places-drive-world/

My comment: Guess I won’t complain (as much) about getting stuck between 2 giant big rigs on the freeway ;>

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Complaints about high appraisal fees and long turn times

RAISE YOUR FEES!!!

Appraisers Remain Under Siege – Jonathan Miller

(Scroll down the page past the second graph)

Excerpt:

Here is a series of feedback from Rob Chrisman in his must read newsletter on the mortgage industry. It is a heavily read source of in-the-trenches mortgage insights that I subscribe to. He gave me permission to share his recent content on the appraisal industry and will share more of it in the coming weeks. I inserted my thoughts following each quote:

“And appraisals are always a hot topic. I received this note from an originator. “Our appraisal environment is out of control. Appraisals we used to get in 1-2 weeks have quickly gone to 3-4 weeks. Appraisals that were just $400 are now $550 and sometimes up to $1,100 for FHA and conventional appraisals. With the rules regulating appraisers on how to become an appraiser and how appraisers have to monitor everything an apprentice appraiser does, it is causing our homebuyers hardship. With the appraiser’s current workloads and the amount of appraisers we have lost in recent years, there is no motivation to bring apprentices on (due to those regulations), leaving the current appraisers working night and day to keep up with their workloads. That is also causing them to keep moving up the appraisal fees (basically rush fees to keep pushing who can pay the most up the line).”

Miller’s comments

It’s called “market forces” and because the AMC movement has gutted the industry, there are much fewer competent appraisers left. And please lay off the “hardship” angle. It’s tired and worn out. Mortgage rates are at historic lows and with the Brexit they will likely stay that way for a while. As I have said before, there is not a shortage of appraisers, there is a shortage of appraisers willing to work for half the market rate.

Worth reading, especially for Jonathon’s comments. http://www.millersamuel.com/note/june-24-2016/?goal=0_69c077008e-ca10724b99-116855313

Link to Chrisman article – scroll down the page to “And appraisals are always a hot topic”

http://www.robchrisman.com/2016/06/11/june-11-letters-notes-on-password-protection-mechanics-liens-and-the-current-state-of-the-appraisal-business/

My comments

Why are complaints about appraiser fees and turn times increasing so much? Supply and Demand. AMCs and lenders not allowing trainees to sign on their own – no new appraisers. AMCs trained their appraisers to bid against each other. Now, they are getting payback.

The Appraisal Foundation is frantically trying to reduce requirements for appraiser licensing in response to the current appraiser shortage. But, the problem is that lenders will not allow trainees to sign on their own. There was no shortage in the last boom prior to 2008.

In all the previous boom periods, since lenders started using appraisers in the 1930s, the increase in volume was handled by hiring armies of trainees who left the profession when business slowed down. Prior to licensing, lenders did this. After licensing, fee appraisers did it. But, soon after 2008 lenders would not allow trainees to sign on their own, so there was no one to handle the increase in business.

When AMCs took over appraisal ordering, many experienced appraisers left the profession due to low fees, increasing lender requirements, hassles, etc. Some stayed, who had direct lender clients or were willing to work for AMCs.

The AMC fee model is a bidding system, with AMCs often looking for the lowest bid. Now, sometimes they spend days looking for an appraiser who will work for low fees. Some of us have finally adapted by significantly increasing our fees.

AMCs have trained us to bid against each other. Even when business is very strong, AMCs continue to try to get low fees. Finally, after 8 years of this, appraisers have realized that when there is a shortage of appraisers we can increase our fees. We finally learned about Supply and Demand. This never occurred before.

Many appraisers (and other business owners) have great difficulty turning down work, even with low fees. After years of telling appraisers to raise their fees, finally some appraisers are listening.

Read more!!

5-12-16 Newz .Geographic competency .Killing home values .Fair housing

The Most Insane Property Description Ever

Short descriptions, click here for some humor!! Reminds me of the times I am driving to the subject, hoping the house ahead is not the one I am appraising… Probably not the Most Insane, but definitely reality-based!!

http://www.thebrokeagent.com/blog-1/2016/4/the-most-insane-property-description-ever

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These Neighborhood Amenities Can Kill Your Property Value

Excerpt: In real estate, the phrase “cash is king” is oft overused. However, if you’re struggling to sell a house in a bad ‘hood, then you already know that in reality, location is king. Purchasing a home in a great area, or an area that is up-and-coming, can help maximize the value of your home investment.

So what can tear your property value down faster than a tree through the roof? The following infographic from Realtor.com offers insight-and some will surprise you!

Link to original article:

http://blog.rismedia.com/2016/these-neighborhood-amenities-can-kill-your-property-value

My comment: Of course, the effect on value varies by location – cemeteries for example.

Read more!!

5-5-16 Newz .Using listings .CU update .Low inventory and stats

Collateral Underwriter Update from Fannie Mae

Source: Appraisal Buzz

Excerpt:

The Buzz staff recently asked Zach Dawson, Director of Collateral Policy and Strategy, Fannie Mae, to provide appraisers with an update on the development of Collateral Underwriter.

A few of the questions:

– Buzz: Can you bring us up to date on CU? What have you learned from this data initiative?

– Buzz: Can you tell us more about AQM and the objectives of that project?

– Buzz: How many appraisers does Fannie Mae refuse to accept appraisals from?

https://www.appraisalbuzz.com/collateral-underwriter-update/

My comment: Definitely hits the Hot Topics!! Nothing much new, but good to directly from Fannie Mae, in writing…

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Can Living Near a Starbucks Boost Your Home Value?

Excerpt:

It seems that being close to a Starbucks does have a marked effect on home values, particularly in the East, according to a Zillow report.

Between 1997 and 2014, homes within walking distance, or one-quarter mile, of a Starbucks appreciated 96 percent. Compared to the national average for the same time period, 65 percent, it seems having a barista close by is a smart real estate move.

http://www.forbes.com/sites/zillow/2015/08/19/starbucks-boost-home-values/#4084f9eb2c70

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Does a new Whole Foods or Trader Joe’s in Your Neighborhood Increase Your Home Value?

Excerpt:

A 2015 study by the real estate information company RealtyTrac analyzed this trend. The study included 4 million homes located in a ZIP code with either a Whole Foods or Trader Joe’s location, finding that average property values in a ZIP code with Trader Joe’s appreciated by about 40 percent since they were purchased, while homes with a Whole Foods in the ZIP code appreciated by nearly 34 percent, which matches the national average increase according to the survey.

http://realestate.usnews.com/real-estate/articles/does-the-new-whole-foods-in-your-neighborhood-increase-your-home-value

Read more!!

4-28-15 Newz .Revision requests .Stunning churches .FHA letters

Stave Churches Are All Wood, Dragons, and Beauty

These austere churches mix Nordic dragons with Christian saints.

Excerpt:

Some of the most stunning churches in the world are also some of the simplest. Stave churches are wooden houses of worship that combine the austere, peaked architecture of Christianity with the Nordic designs and motifs of a Viking great hall.

Stave churches are characterized by the “staves,” or thick wooden posts, that hold them up. Using the same woodworking prowess that made the Vikings such adept shipbuilders, traditional stave churches were often built using nothing more that expertly crafted joints and joins, with no nails or glue. The only stones used were in the base of the structures.

Take a break from appraising and Check out the beautiful fotos and interesting article at:

http://www.atlasobscura.com/articles/stave-churches-are-all-wood-dragons-and-beauty

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Game of Thrones-style mini kingdom in Oregon

Excerpt:

Let’s set the scene: You’re perched overlooking the mountains in your own 8,881-square-foot castle set on 700 acres dotted with trees and natural rock formations. All you can see for miles is your own lush, unspoiled property – this is your mini-kingdom. Your home, an ode to nature with curved walls and cloud-shaped windows, is easily a setting from an episode of Game of Thrones. But you aren’t the Lord of Winterfell, you’re certainly not scheming like CerseiLannister, and this home for sale in Ashland, OR, is not in the Seven Kingdoms but instead a fantasy-worthy getaway called Shining Hand Ranch.

Read more!!

Do you still enjoy appraising after all the new rules?

Poll: Now that we have been living for some time with all the new rules governing residential appraisal, do you still enjoy doing the actual appraisal work?
www.appraisalport.com

My comments: Hmmm…. All the analyses (Appraisal Foundation, Appraisal Buzz, etc.) about the appraiser “shortage” don’t seem to mention this. How many appraisers are working for AMCs? Low fees are mentioned sometimes. They also don’t mention the “brain drain” of experienced appraisers not willing to work for AMCs. Many appraisers that I know do little, if any, AMC work.

Who wants more appraisers? AMCs. Supply and Demand. The more appraisers there are, the more the fee competition, and the lower fees.

Once again, they also just look at “appraisers” There few problems with commercial appraiser “shortages” due to the issues above because they don’t work for AMCs, although fees are low in many areas, including where I live. Definitely no trainee problems.

Direct lenders have increased requirements, but you know what they are and don’t get 5-15 pages of “requirements” plus call backs. Yes, there are shortages in rural areas that are not close to a metropolitan area where appraisers travel from (less than 2 hour drive, one way, for example). Shortages of rural appraisers is nothing new. It has always been that way.

I wrote about this issue in the November 2015 issue of the paid Appraisal Today: “Staying positive with unreasonable fees and Scope Creep from AMCs”

I also spoke about it on a Dustin Harris 12/13/15 podcast, “How to Stay Happy as an Appraiser”

Click here to listen

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