11-16-17 Newz//:Value Of Additional Bedrooms, 13 Animal-Shaped Homes, Timber Towers

Architectural menagerie

13 animal-shaped buildings

Just For Fun!!
Excerpt: Novelty architecture can take on many fantastical forms – think municipal water towers done up like peaches and soft serve-shaped ice cream stands – but animal-shaped buildings are in a league of their own.

Often built as roadside attractions meant to lure motorists off the highway, these completely functional structures serve a greater purpose than just kitschy ornamentation. Some are truly mimetic – that is, the building is representative of its original purpose be it a poultry shop, seafood restaurant or woolen clothing boutique. Others are more symbolic, which is probably a good thing.

Here are a few:
– Big Sheep Wool Gallery – New Zealand
– Turtle Building – Niagara Falls
– Crocodile Hotel – Australia

Good fotos and write-ups at:

Why Timber Towers Are On the Rise in France

Excerpt: Spurred by concerns over climate change and the negative impacts of concrete manufacturing, architects and developers in France are increasingly turning to wood for their office towers and apartment complexes.

Concrete was praised through much of the 20th century for its flexibility, functionality, and relative affordability. In France, the material ushered in an era of bold modernist architecture including housing by Auguste Perret and Le Corbusier. Today, however, wood is lauded for its smaller environmental footprint and the speed with which buildings can be assembled.

Read more!!

10-26-17 Newz//Haunted homes and Places, Liability Issues, Tax Savings

Haunted houses and places – Halloween is next Tuesday.

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Google Maps Listed The 31 Most Haunted Places In America And They Sound Terrifying
From cemeteries and churches to mansions and museums.
Here are a few:
13. Adam’s Street Cemetery – South Bend, Indiana
16. Eastern State Penitentiary – Philadelphia, Pennsylvania
26. The Stanley Hotel – Estes Park, Colorado
My comment: Photos, brief writeup and links. Most are east of Kansas. Only a few near me. Not sure what that means ;>
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38 Real Haunted Houses and the Stories behind Them
Here are a few:
4. The White House, Washington DC
8. The Pirate’s House, Savannah, Georgia
10. Lizzie Borden House, Fall River, Massachusetts
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Haunted House? Not a Deal Breaker for Many Homebuyers

Excerpt: According to the Haunted House Real Estate Survey realtor.com® released today, 33 percent of approximately 1,000 respondents said they are open to living in a haunted house, 25 percent might be, and 42 percent are not open to the idea.

About 40 percent of people who are open to a haunted home said they’d want to see that home price go down to put money down on it. Another 35 percent said it would have to be in a better neighborhood to make the move, 32 percent said they wanted extra footage and 29 percent said they’d move in if they had more bedrooms.

Only 8 percent of respondents said they require no additional perks to purchase a haunted home. Basically, they wouldn’t hesitate and would move right in.

What about if someone died in the house? Actually, 47 percent of those surveyed said they would live in a home where someone died, 27 percent said they might, and 26 percent said, “NO WAY.”

My comment: Very interesting results. What is the effect on value, if any. Up, down, none?? Maybe someone will pay me some big bucks sometime to figure it out…

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From Ghost Hunters to Exorcists: Who You Gonna Call for a Haunted House?

Excerpt: Shortly after physical therapist Sally Morgan moved into her charming, late-19th-century cottage in Northampton, MA, she realized that she and her two pet corgis were not alone.

The price of the two-bedroom fixer-upper had seemed almost too good to be true. She soon discovered why she had gotten a bargain.

“Within a week, I started to feel a presence in the house. There were cold spots, and the dogs would stop and look at [invisible] things,” says Morgan, now 59. “In the shadows in the evenings, you’d think you saw a lady in a long dress. But was it her? Was it the curtains? Was it the shadows?”
My comment: Very interesting – who are you gonna call???
 
Search for haunted homes and places in your city. I found some in mine!! 

Read more!!

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

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!!

Read more!!

8-10-17 Newz// Fannie-Appraiser Future, AMC goes down, Delightful Domes

A Tour of the World’s Most Delightful Domes

17 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 

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.

Read more!!

7-20-17 Newz// Fannie data, USPS gyrocopters, Costar data

When the U.S. Postal Service Used Gyrocopters to Deliver the Mail The flying machines hopped from roof to roof of post offices.

Excerpt: Sensing opportunity, the United States Postal Service-then the U.S. Post Office Department-decided to invest in the new technology. In 1937, Congress appropriated money to fund a series of experiments on autogyro mail delivery, and within a year the first flight-from Bethesda, Maryland to Washington, D.C.-was made.

My comment: Check out the photos (no videos in 1937). Very interesting!!

Why Fannie Mae Shouldn’t Keep Data Secret

Excerpt: Today’s lenders have access to massive amounts of data. According to (Richard) Hagar, government lenders have access to every recorded sale in most every county across the U.S. via information providers like CoreLogic. He believes appraisal adjustments should be cross-checked against sales metrics of the five million home sales that occur each year.
However, appraisers typically use Multiple Listing Service (MLS) for residential appraising. Data provided by MLS may vary from information shown by providers like CoreLogic. MLS has more detailed information that county records don’t contain. Oftentimes, though, MLS contains errors or missing data. In other words, both types of systems have errors, but not necessarily the same errors.
My comment: Controversial topic!! Fannie says that they want appraisers to be objective, not using Fannie’s data. For example, appraisers changing their building sketches to match public records sq.ft. to avoid underwriter/review hassles. I remember CMDC books (in california) back in the 1980s where appraisers submitted the first pages of their appraisals to go into a shared appraiser database. Before appraisers could get MLS access. Seems like that was okay…

Read more!!

7-13-17 Newz// FTC vs. NC Fees, Zillow misestimates,Turbo-Charged Appraiser

FTC targets North Carolina Fee Survey

North Carolina currently considering establishing set fees for appraisals
 
Excerpt: According to the FTC, North Carolina’s proposed legislation carries many of the same issues as the laws in Louisiana.
In its comment, the FTC states that the bill’s method for establishing appraisal fees “is not mandated by – and, in fact, may be inconsistent with – federal law.”
The FTC also suggests that the bill “may have the effect of displacing competition for the setting of appraisal fees and ultimately harming consumers in the form of higher prices.”
More info here, including text of the bill, etc. and where to file a complaint.
Louisiana’s reply to previous FTC hassles here:
My comment:I have no idea why the FTC is going after states setting AMC fees. Seems like there are a lot of much bigger problems…

The Next Job Humans Lose to Robots: Real Estate Appraiser

Advances in big data at Zillow and elsewhere are helping automation creep into knowledge-based professions.

 

Excerpt: Twenty-five years ago, Brian Weaver was told at a seminar that the real estate appraisal profession would be killed off by technology in five years. It didn’t happen. But he now thinks the forecast wasn’t exactly wrong-just early.

https://www.bloomberg.com/news/articles/2017-07-11/the-next-job-humans-lose-to-robots-real-estate-appraiser 

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The Turbo Charged Appraiser – “Progress Slow on Robot Takeover” – A Blast From the Past by George Dell

Except: This is the headline from an article in the San Diego Union Tribune this morning.  The article went on to say, “Data complexities, trust issues, and the persistent need for human input restrain scaled-up automation.”
As a brand-new appraiser trainee, I was in awe of the office and the people.  And in particular, the backroom.  The backroom was the library and data room.  As large as some small homes.  It contained data.  Lots of data…
Read more at:
My comment: I love these two very different topics!! One is maybe the future and the other looks at data way back in the past from George Dell, stats and data guru!!

Read more!!

6-22-17 Newz//McMansions .Credit Risk Increasing .Freddie – No Appraisals

What If McMansions Ruled the World?

Excerpt: Whether on the gleefully snarky blog McMansion Hell or in haunting photos of cul-de-sacs abandoned during the recession, McMansions-those ersatz chateaux of modern suburbia-are frequent targets of urbanists’ ire, derided as symbols of the wastefulness and isolation of suburban sprawl.
But what if the McMansion could be put in the service of urbanism instead?
My comment: Fascinating!!
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Appraiserville

Housingwire Gave Appraisers A Long Overdue Win

By Jonathan Miller
Excerpt: After a snarky trying-to-be-coy blog post that tried to win on a technicality that there was an appraiser shortage, many appraisers, including myself, took to the streets (the comments section) to voice our outrage. It was based on an amazingly misinformed Urban Institute post that doesn’t understand the appraiser role in mortgage lending, which was even more infuriating.
Housing Wire’s editor reached out to Jonathan Miller for the appraisers’ side of the story – He handed our long besieged industry a rare “win, include” and I am grateful for his honesty and for the opportunity to voice my view on their platform.

Read more!!

6-15-17 Newz// Appraisers Replaced by Data Analysis, Very Unusual Hotels

8 of the Most Unusual Hotels in the Netherlands

Proof the Dutch can convert nearly anything into a place to stay the night.

Excerpt: n industrial crane or wooden wine barrel would be unremarkable objects anywhere else. But in Holland, these unexpected structures have been transformed into one-of a-kind hotels, made habitable and even luxurious with some loving restoration and redesign. Prefer to spend the night in a tilted cube house or the rumored birthplace of a secret shadow government? The Dutch have got you covered there, too. Here are eight hotels in the Netherlands that offer visitors a unique place to stay.

My comment: Very Interesting. Good for a quick break from writing up appraisals. I love appraising but hate writing up the those darn reports ;>
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The Highest Home Price Increases Around the World

Excerpt: When it comes to the world’s fastest-rising prices for luxury residential real estate, don’t look to the United States.

Read more!!

6-8-17 Newz// Appraisal Waivers, Blue Bathrooms, Corelogic buys Mercury Network

 The Sunken World Hiding Under the Water’s Surface

27 drowned places that used to be above ground.
Excerpt: here is an entire submerged world hidden just below sea level, largely out of sight to terrestrial beings today. The Earth’s shores are lined with sunken cities, flooded crypts, drowned forests, and submerged structures that have been lost underwater over the millennia, overtaken by nature or human development.

Rising sea levels and flooding caused by earthquakes, landslides, changing tides, melting glaciers, or manmade dams have wiped entire villages off the map. And sometimes, when the water recedes, these submerged cities and landscapes reemerge from the depths, an eerie glimpse at the invisible sunken world.

http://www.atlasobscura.com/lists/sunken-cities-flooded-drowned 

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Appraiser shortage = appraisal waivers??

Excerpt:
Key government agencies finally addressed the critically growing appraisal shortage crisis that’s hampering the mortgage process, highlighting two alternative options to help areas that are facing a shortage.
Particularly, the alternative options are aimed at helping rural areas that are struggling with the availability of state certified and licensed appraisers.

Read more!!

6-1-17 Newz .Our 25th Anniversary! .Zillow Class Action Lawsuit, FTC Says No to LA Setting AMC Fees

FTC Challenges Louisiana Real Estate Appraisers Board Regulations that Restrict Competition

Restrictions on fee setting violate federal antitrust rules, agency alleges

Excerpt from FTC: The Federal Trade Commission has filed a complaint against the Louisiana Real Estate Appraisers Board, alleging that the group is unreasonably restraining price competition for appraisal services in Louisiana, contrary to federal antitrust law. The complaint will be submitted to adjudication before an Administrative Law Judge, who will review it and render an initial decision.
In the administrative complaint, the FTC alleges that the Louisiana appraisers board limits the freedom of individual appraisers and their customers to engage in bona fide negotiations to set appraisal fees for real estate appraisals in Louisiana.
Excerpt from LA appraisal board comments:
In a statement, the Louisiana Real Estate Appraisers Board denies the FTC claims, adding that it is operating well within its rights and any accusations beyond that are “ludicrous” and without merit.
“Respectfully, the FTC is just plain wrong. By issuing this legally faulty and factually incorrect complaint, the FTC is seeking to punish a Louisiana state agency for following federal regulatory mandates,” Bruce Unangst, executive director of the Louisiana Real Estate Appraisers Board, said in a statement.
Read the details here from the FTC:
More info, including comments from LA appraisal board
My comment: Very interesting angle… I always wondered if it was ok for states to set AMC appraisal fees. I wondered who complained????
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When Stairs and Slides Are Hiding in Plain Sight

Play real-life Chutes and Ladders at these obscure thruways.

Read more!!