Are Human Appraisers Being Phased Out? Federal Regulators Vote to Loosen Requirements
Covid-19 Residential Appraisers Tips on Staying Safe
To read more of this long blog post, click Read More Below!!
Covid-19 Residential Appraisers Tips on Staying Safe
To read more of this long blog post, click Read More Below!!
Hobbit Houses in Charlevoix, MichiganJust For Fun!!Excerpts: Growing up in northern Michigan in the early 1900s, Earl Young was obsessed with boulders. Glacial boulders, to be exact-ones moored in fields, forests, and on lake coastlines across the state thanks to the slow march and retreat of glacial ice during the Precambrian age. Appraising Hobbit Houses in Michigan is a challenge.
The homes he designed will stop you in your tracks, as one did the last time I was there, passing by on a bike. Call them “mushroom houses,” “hobbit houses,” “boulder houses”; everyone has a different name for them. They’re often described concisely, if vaguely, as “organic.” Though some see Frank Lloyd Wright’s influence, they’re distinctly Young.
Fascinating! Lots of fotos and info at:
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Lord of the Rings – Hobbit houses from the movie(Opens in a new browser tab)
Hobbit House of Montana(Opens in a new browser tab)
Covid-19 Residential Appraisers Tips on Staying Safe
For Covid Updates, go to my Covid Science blog at covidscienceblog.com
To read more of this long blog post, click Read More Below!!
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Covid-19 Residential Appraisers Tips on Staying Safe
For Covid Updates, go to my Covid Science blog at covidscienceblog.com
Click here to subscribe to our FREE weekly appraiser email newsletter and get the latest appraisal news!!
To read more of this 9-27-18 long blog post with many topics, click Read More Below!
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$1 listing pricesExcerpts: A $1 house listed in Edmond, OK, has stirred up a huge hubbub among home buyers, home sellers, real estate agents, and others: Come on, is that even real? There must be a catch.
In other words: After less than a week, the home is under contract. While Hukill won’t share specifics until the deal is officially done, he says, “we ended up a little bit above what the sellers initially thought they’d get.”
Which begs the question: Should more home sellers consider pricing their home at $1?
My comment: interesting discussion of the pros and cons. |
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Appraisal Waivers save up to 2 weeks timeFrom Fannie Mae’s May 15 2018 Selling News
Save your borrowers time and money with a PIW
Did you know that a property inspection waiver (PIW) can save you up to two weeks in loan cycle time while saving your borrower the expense of an appraisal? A PIW can both reduce costs and shorten the loan origination process by eliminating the need to obtain and review an appraisal, removing the chance of any appraisal-related delays.
Exercising a PIW offer will also give you Day 1 Certainty®, freedom from reps and warrants on property value, condition, and marketability. Learn more about these benefits and more on the PIW page.
My comment: And I was thinking that Hybrid Appraisals were a big market… No way to beat No Appraisals…
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What’s a comp?By George Dell, MAI, SRA
Excerpts: Our education tells us a comp is similar and competitive. So how do we measure “comparability”? If our job entails studying market data to get an answer … might it be important to know exactly how to describe a comp?
So what’s the issue? Why should we care? I am a highly trained expert. I have a license. “Trust me. I know a good comp when I see one.”
My comments: George is writing a longer article than his blog posts for the May issue of the paid Appraisal Today. I often wish his blog posts were longer, but they are designed to be short ;>
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7 Strange home remodeling projects for appraisers
Excerpt: There’s a huge difference between decorating for your own pleasure and spiffying up your home to sell. If you’re staying put and pining for a purple bathroom, go for it! The resale value of your eclectic tastes don’t apply.
3. Too much purple or yellow
4. Too much cold white
7. A statement door that makes too much of a statement
To see all of them plus photos and details click here:
Covid-19 Residential Appraisers Tips on Staying Safe For Covid Updates, go to my Covid Science blog at covidscienceblog.com Click here to subscribe to our FREE weekly appraiser email newsletter and get the latest appraisal news!! To read more of this long blog post with many topics, click Read More Below!! NOTE: Please scroll down to read the other topics in this long blog post on data, weird interior design, mortgage origination stats, Covid tips for appraisers, etc. |
7 Small Home Flaws That Can Be Big Deals for BuyersExcerpt: Here are a few:
2. Ripped window screens
3. The location of your laundry room.
4. Sticky door locks. Live in a house long enough, and you’ll encounter a malfunctioning door latch or lock. That may be no big deal to you, but it may alarm buyers big-time.
5. Your bathtub or shower. Some people prefer showers, others want baths (particularly parents who must clean up small kids). So if you’re missing one or the other, watch out.
Interesting and worth reading at:
My comment: Any adjustments for these?? ;> It may help explain why some homes sell and some don’t or sell low. In my area, almost all listings are fixed up and staged. I will never forget selling my house in 2008. I fixed all the stuff that had been bad for years. I did not want to sell it!!! Covid-19 Residential Appraisers Tips on Staying Safe For Covid Updates, go to my Covid Science blog at covidscienceblog.com Click here to subscribe to our FREE weekly appraiser email newsletter and get the latest appraisal news!! To read more of this long blog post with many topics, click Read More Below!! NOTE: Please scroll down to read the other topics in this long blog post on waterfront home, independent contractors,, mortgage origination stats, Covid tips for appraisers, etc. |
A National MLS Database?Excerpt: Instead of considering the consolidation of the governance and management structures of the MLS, thereby providing coast-to-coast cooperation among brokers, we should instead focus on MLS data and technology infrastructure, and support the movement toward a national database system.
This would create a vast information network available to application developers who, until now, couldn’t offer tools to agents and brokers without expensive and time-consuming customization for every individual MLS.
NOTE: THIS WAS PUBLISHED IN 1-18. THEY KEEPT TRYING IN 2020!! My comment: The author is vice president of Business Development for Realtors Property Resource® (RPR®), created by NAR. More info at www.narrpr.com . Very interesting and worth reading. Poor real estate data has been a problem forever. Non-standardized MLS data is a nightmare for appraisers. This database would be accessible to appraisers, CU, and AVMs I assume. Of course, we all know how accurate MLS data is…
Covid-19 Residential Appraisers Tips on Staying Safe For Covid Updates, go to my Covid Science blog at covidscienceblog.com Click here to subscribe to our FREE weekly appraiser email newsletter and get the latest appraisal news!! To read more of this long blog post with many topics, click Read More Below!! NOTE: Please scroll down to read the other topics in this long blog post on bath tubs, new appraisal forms,, mortgage origination stats, etc. |
A Tour of the World’s Most Delightful Domes17 half-spheres that do round right. Just For Fun!Excerpt: Employing massive hemispherical roofs first became popular with the ancient Romans-most famously the iconic Pantheon, built in the 2nd century. Since then, the feature has taken many forms across the globe, providing cover for everything from ancient tombs to futuristic houses. The circular nature of domes has special significance in religious houses such as churches and mosques, where it represents the eternal, with no beginning and no end.
http://www.atlasobscura.com/lists/domes-architecture-world-tour |
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TC Valuations (AMC) Ceasing Operations!Paying appraisers $ .25 on the dollar!!Excerpt from letter sent to appraisers: It is with much regret, that I write this letter to inform you that TCV has commenced an orderly wind up and liquidation of operations. Unfortunately a significant downturn in revenue and the loss of part of our volume with two key clients in the second quarter of 2017, has forced the company to wind up its operations.
Read the full letter plus lots of comments at
My comment: There will be more AMCs going down, particularly small ones. In 1993, when the appraisal business crashed and I had way too many employees, I almost went out of business. But, I had no uncollected billings, even from mortgage brokers. Why? I always carefully monitor my accounts receivable. My assistant called all my clients every day until they paid. My husband, a very large man, wearing black clothes (Gangsta style ;>), went to a local mortgage broker’s office and left with a full payment check. It may be time to write a collections article for the paid Appraisal Today… predictions are for more small AMCs Going Down. |