Fannie requiring ANSI for appraisals starting 4/1/22

ANSI Update

I have been getting questions from appraisers but did not have time to research this Very Hot Topic. Below is a link to purchase the new 2021 Standards.
There are lots of comments online. The first link below by Appraisersblogs allows comments which you can read and make your own comments. The second link is a short blog post by McKissock.
Purchasing the Standards document for $25 is a good idea—link at the end of this section. I purchased a copy, so I knew what it said. Hopefully, most appraisers who do GSE appraisals will get a copy. Disclaimers coming soon regarding ANSI, assessor’s offices, etc. Disclosure of what you use is an excellent idea.
For many years, I did relocation appraisals, where 2-3 appraisers appraised the same house before the sale. Sq.ft. by the appraisers was very seldom the same. We did future values, typically 90-120 days in the future. My most favorite appraisals. Every appraisal was a test of how close I came to the sales price.
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ANSI Measuring Standard Required on April 1, 2022 – Comments allowed
By Appraisersblogs
Excerpts: includes Fannie’s 1-page “Standardized Property Measuring Guidelines” with good information.
Does following ANSI even reflect the market? Perhaps, adopting the ANSI standard will make the description of the subject property more precise. However, how is this going to help if Realtors, assessors, builders, and architects are not measuring by the same standard? Will this create a false sense of accuracy? Will there be a lot more discrepancies once the ANSI measuring standard is used by appraisers for the subject property while different measuring standards measure the comparable sales. And how do we apply the ANSI measuring standard on exterior-only appraisals, desktops, hybrids, and 2055s?
This blog post is a good place to read comments and leave your own. Over 35 comments. Click here to read.
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Fannie Mae to Adopt ANSI Measurement Standard in 2022
Short blog post with good info
By: Dan Bradley (McKissock)
Excerpt: ANSI Z765 is a copyrighted document. A downloadable PDF is available for purchase from Home Innovation Research Labs for $25.00. The website can be accessed here: https://www.homeinnovation.com/z765.
To read more, click here

Read more!!

Crazy Appraiser Stories

Crazy Appraiser Stories

 

You’ve all got them… The crazy car chases, the surprising living conditions, the exotic assignments, and the unique collectors….

What we all need… Here is one brief humorous escape!!

The photo above is the Crazee Appraiser writing up his appraisal!

Here is one story:

This was a beautiful 3,200 sq ft home with all the extras. After measuring, I was standing by the fireplace, taking an interior photo, being careful not to step on the expensive rug next to the hearth. The lady of the house looked a little alarmed, so I had to ask, “Is everything okay?” “Oh yes, it’s just that the camera will have a click.” I’ve heard weirder things, so after assuring her it was a very quiet click, the button went down, the picture was taken, and the excitement started.

Something hit the back of my head, a soft, but very strong hit. The equivalent of a 10 mile an hour wind passed over my left shoulder, and a shadow landed on the other side of the sofa, which was 14’ in front of me. It seems that the fluffy 6’ rug was a once wild, African Savannah cat, stretching 6’ long as it napped on its belly. It looked like a leopard rug! With teeth longer than some fork tines, I was happy to let it hide in the bedroom, but she coaxed it out of hiding to demonstrate that it could easily jump 10’ high for a kitty treat.

– Carolyn S. Richards

For more stories, click here

My comment: We all need some appraiser fun to start the New Year!!

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in my paid Appraisal Today monthly newsletter.
$99 per year or $169 for 2 years (credit card only) $8.25 per month, $24.75 per quarter, or $89 per year.
For more info, go to https://www.appraisaltoday.com/products

Humor for appraisers

FREE appraisal business articles

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!

Read more!!

Crazy Appraiser Stories!!

What we all need… Here is one brief humorous escape!! 

Crazy Appraiser Stories!! You’ve all got them… The crazy car chases, the surprising living conditions, the exotic assignments, and the unique collectors….

 

The photo above is the Crazee Appraiser writing up his appraisal!

Here are a few stories

This was a beautiful 3,200 sq ft home with all the extras. After measuring, I was standing by the fireplace taking an interior photo being careful not to step on the expensive rug next to the hearth. The lady of the house looked a little alarmed, so I had to ask, “Is everything okay?”  “Oh yes, it’s just that the camera will have a click.”  I’ve heard weirder things, so after assuring her it was a very quiet click, the button went down, the picture was taken and the excitement started.

Something hit the back of my head; a soft, but very strong hit. The equivalent of a 10 mile an hour wind passed over my left shoulder and a shadow landed on the other side of the sofa which was 14’ in front of me. It seems that the fluffy 6’ rug was a once wild, African Savannah cat, stretching 6’ long as it napped on its belly. It looked like a leopard rug! With teeth longer than some fork tines, I was happy to let it hide in the bedroom, but she coaxed it out of hiding to demonstrate that it could easily jump 10’ high for a kitty treat.
– Carolyn S. Richards

Years ago I had an appraisal on a very exclusive island off the north shore of Long Island. There are about 100 homes at most and many celebrities and CEO’s live there. Homes are in the MULTI-million dollar range. When I arrived at the subject house, the owner answered the door. As I walked into a house, I noticed all the interior outer walls were covered with aluminum foil. When I gently asked the owner what the foil was for, he seriously told me that it was to keep out the rays from the aliens. It made for a very interesting valuation.
– Leigh Pollet

To read all the funny stories, click here

Appraising Weird Stuff is Challenging!(Opens in a new browser tab)

To keep up on what is happening in appraisal businesses, mortgage lending, USPAP, etc. , Plus humor and strange homes, sign up for my FREE weekly appraisal email newsletter, sent since June 1994. Go to Home on the right side of the menu at the top of this page or go to www.appraisaltoday.com
Sign up in the Big Yellow Boxes

I regularly write about hot topics in appraising and appraisal business management issues
in my paid Appraisal Today monthly newsletter.
$99 per year or (credit card only) $8.25 per month, $24.75 per quarter, or $89 per year.
For more info, go to https://www.appraisaltoday.com/products

Terrible Real Estate Agent Photos for Appraisers

Just For Fun and Oddities!!

If M C Escher had tried interior design.

<< 4 bedrooms, 2 bathrooms, and extensive opportunities for open plan off-roading.


Inexplicably bad property photographs.

It’s that simple

Don’t miss the Very Funny Captions!!

 

To see more, click here

Appraisal Humor

Appraisal business tips

For lots more appraisal topics, Click  Read More below!

Read more!!

7 Things to Watch in your Appraisal Market

Seven things to watch in real estate during a pandemic

April 14, 2020 By Ryan Lundquist

Excerpts:

1) Listings: We often think about listings increasing as a way to see the market changing, but right now many markets across the country are seeing fewer new listings. So at times change is best seen with less of something rather than more. It’s not a surprise to see fewer new properties during a pandemic, right?…

7) Prices: In real estate we are so obsessed with prices, but that’s really the last place to look to see the market. What I mean is change happens first in the areas above before showing up in sales stats a couple months down the road. In short, for now the slower pandemic trend hasn’t infiltrated sales price figures as of yet in Sacramento. This doesn’t mean the market is stable in every price range and location. All I’m saying is regional and county stats don’t show price declines right now. Normally I pull monthly price data, but I’ve switched to weekly in order to see the trend sooner rather than later.

To see the other 4 factors plus lotsa graphs and many appraiser comments , click here

Appraisal Humor

Appraisal business tips

Pandemic and market for buyers and sellers: Appraisals(Opens in a new browser tab)

Very, very funny appraisal video!!(Opens in a new browser tab)

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

Read more!!

Appraiser Recovers From COVID-19

Appraiser/Educator Bryan Reynolds is recovering from COVID-19

I had a bit of a difficult time with this podcast. We like to think we’re invincible, immune, unaffected, but that’s silly. We are, at the end of the day, all vulnerable. This chat with my long time friend and partner, Bryan Reynolds, brought that realization home, in stark reality and made it tangible and personal. Appraiser Recovers From COVID-19.
People, we damn near lost Bryan. Please give this podcast a listen. I’ve posted it here, largely unedited. This podcast is the epitome of authentic.
Hal Humphreys
Partner Appraiser eLearning
The Appraisal Update – Episode 40 | Bryan Reynolds and COVID19
My comment: Listen to this podcast!! I saw the last podcast live on March 26. Hal Humphreys was the moderator, speaking from his front yard. He said that Dave had coronavirus. I am so glad that he is recovered! To watch his webinars, go to https://www.youtube.com/channel/UClb6iDQvzQqj4GOiKSCp8EA

10-20 UPDATE: For lots of Covid analysis and news, go to my new covidscienceblog.com

Covid-19 Residential Appraisers Tips on Staying Safe

Appraisal Humor

Appraisal business tips

A very, very funny appraiser video!

For lots more appraisal topics, Click  Read More below!

Appraiser Work Stress Humor

8 Funny Quotes About Appraiser Work Stress

Just For Fun!!

Excerpts: Real estate appraisal is an exciting and enjoyable profession—for the most part. But every appraiser knows that the job can be stressful at times, especially for those who are self-employed. If you’re having a hectic or frustrating day on the job, it helps to have a sense of humor. Here are some super funny quotes about work stress that we hope will brighten your day. Appraiser Work Stress Humor is what we all need!!

A few quotes

“‘Yay! It’s the weekend!’ Said nobody who is self-employed.”

“There cannot be a stressful crisis next week. My schedule is already full.” ­— Henry Kissinger

Very creative gifs! Sorry, they don’t work in these emails. To see them, click here

My comment: Very Funny and Realistic!

Appraisal Humor

Appraisal business tips

Which Appraisal Clients are used the most?(Opens in a new browser tab)

Terrible Real Estate Agent Photos for Appraisers(Opens in a new browser tab)

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

Read more!!

Very Funny appraisal commercials

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!!

Read more!!

$1 Billion Appraisal Error

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!!

Read more!!

What’s included in appraisal GLA?

Should The Agent Include These Areas In Square Footage?

Excerpt: The most thrown around metric in real estate has to do with square footage and price per square foot. People ask me all of the time what homes in this or that neighborhood are selling for per square foot.

Why do they do this? Because they want to take the price per square foot and then multiply it by the square footage of their home to find out what it is worth. Sounds reasonable right? Wrong….

(An example I see a lot): A heated and cooled finished room that is attached to the main house but you get to by going outside of the main house should not be included in the main GLA.

To read more, click here

My comment: written for real estate agents, but many appraisers, including myself, regularly get asked: “what is in the living area” by agents. I do. This article focuses on ANSI and may help you explain it to them. There are links to his other blog posts on this, and related, topics.

Appraisal Business Tips 

Humor for Appraisers

Covid-19 Residential Appraisers Tips on Staying Safe

What is Included in Appraisal Square Footage?

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

Read more!!