9-21-17 Newz//Pivot- Not enough Appraisers To Too Many Appraisers, Appraising New Home In Old Neighborhood

By on September 21, 2017   /   adjustments, AMCs, appraisal business, Appraisal fees, appraisal how to, appraisal management company, commercial appraisal, fees, future, lender appraisals, Mortgage applications   /   1 Comment
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How do we value a brand new house in an old neighborhood?

By Ryan Lundquist
Excerpt: Tip #5. The wrong one & modern homes: Just because something is brand new does not mean it’s going to fetch top dollar. If it’s the wrong type of house for the neighborhood, buyers might actually pay less for the property. It’s like when someone builds a plain earth-tone stucco tract home in a classic area with Tudors and Bungalows. Despite being new it might actually sell with a price discount if it doesn’t have any hint of era charm for the neighborhood. On the other hand there are modern homes popping up all over Sacramento (CA) and beyond that seem to defy this idea. These homes definitely don’t blend into the neighborhood at all in terms of design, but they’re still fetching high prices. Keep in mind though modern homes tend to carry wide appeal, so they are often able to break the mold of the neighborhood and still command a price premium because of their style. In short, modern homes are not vibeless tract homes, so it’s not really the same thing.
Click here to read the other 4 great tips plus some interesting comments!!

http://sacramentoappraisalblog.com/2017/07/26/how-do-we-value-a-brand-new-house-in-an-old-neighborhood/ 

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9-14-17 Newz:// No Appraisal Waivers, How Many Comps Are Enough?, Ugliest House

By on September 14, 2017   /   appraisal, appraisal business, appraisal how to, data, Freddie, future, lender appraisals, Mortgage applications, mortgage loan volume, statistics, unusual home, unusual homes, weird homes, zillow   /   Leave a comment
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Google Street Views – First Big Update with Lots More Big Data!!

Excerpt: The car-top rig includes two cameras that capture still HD images looking out to either side of the vehicle. They’re there to feed clearer, closer shots of buildings and street signs into Google’s image recognition algorithms.
Those algorithms can pore over millions of signs and storefronts without getting tired. By hoovering up vast amounts of information visible on the world’s streets-signs, business names, perhaps even opening hours posted in the window of your corner deli-Google hopes to improve its already formidable digital mapping database
My comment: Fascinating article. Check it out. I use Street Views a lot, but sometimes the images are fuzzy and are hard to figure out. Looking forward to improvements, but on the minus side, more data available that field appraisers provides now.

36 Appraisal Organizations Send Letter to Party Leaders of House Committee on Financial Services and Senate Committee on Banking, Housing and Urban Affairs on “No Appraisal” Waivers

Excerpt: 36 industry groups are attempting to prevent the Fannie Mae and Freddie Mac (GSE’s) from issuing appraisal waivers by sending a letter to the chairs and ranking members of the Senate Banking, Housing and Urban Affairs Committee, and the House Financial Services Committee addressing its concerns. AI recommends the halt of the waivers until the GSEs can demonstrate that the proposed program does not harm the consumer, is properly monitored, and integrates proper safeguards to prevent fraud.
We are writing this letter to raise concern over the new appraisal waiver programs recently implemented by Freddie Mac and Fannie Mae (the ” Government Sponsored Enterprises.”)  We believe these programs will create unnecessary and unacceptable risks for taxpayers and homeowners, and they come at a time when markets are at all-time highs – when risk mitigation should be tantamount. We ask you to call on the Federal Housing Finance Agency (FHFA) to prevent the Enterprises from implementing the appraisal waiver programs until they can demonstrate the appraisal waiver program:

My comment: Worth reading. Read the names of all the organizations that sent the letter. I can’t remember when so many appraisal organizations agreed on anything!!

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9-7-17 Newz// Appraisers Helping Appraisers, SBA needs appraisers, It’s OK to Say No

By on September 7, 2017   /   appraisal how to, Mortgage applications, Strange homes, unusual homes   /   Leave a comment
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Help Texas Appraisers Affected by Hurricane Harvey!

This fundraising campaign is co-sponsored by Mark Skapinetz (What’s It Worth Appraisal Services), Joe Mier (Joseph Mier & Associates), Lori Noble (The Noble Appraiser), Jonathan Miller (Miller Samuel Inc. Real Estate Appraisers & Consultants) and Phil Crawford (Voice of Appraisal).
As of 6pm 9/6/17 (West Coast time), at least two appraisers have donated the cost of an appraisal fee. 125 appraisers had contributed a total of $9,646 in the past 5 days.
If you have been affected by storms, you can apply to these folks to be considered to receive funding:
Mark Skapinetz:  wiwapp@gmail.com
Phil Crawford:  info@voiceofappraisal.com
Lori Noble:  lori@trpcg.com
Thanks to Dave Towne for these email addresses!
More info at:
Click here to donate
My comments: I prefer to give to people I know as it very satisfying. I started doing it 5-6 years ago. A former employee of mine became disabled and unable to work. I sent her $200 a month until she passed last year. A musician friend (my mentor), who is 82 years old, was trying to live on a small Social Security check. He sent me a Christmas card that mentioned some of his paintings for sale. I purchased a few for $400. Recently another musician friend in San Francisco was being evicted from his apartment after living there for over 25 years. I have been helping him send his records, CDs, etc. to friends around the country by using my UPS account.
I don’t know anyone personally affected by the Harvey disaster, but I contributed $100 as to help appraisers directly. I prefer to do this instead of donating to a charity. I also donate to charities, particularly local ones. I have my Amazon Smile account set up to automatically donate to the local Meals on Wheels. My living trust includes a large donation to my local NPR station, which I listen to every day.

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