5-3-18 Newz//Federal Enforcement of USPAP? Public Restroom App. Unusual Houses & Buildings

How Lenders and Appraisers Can Work Better Together Through Increased Transparency

By Wes Costello
Excerpts: The relationship between lenders and appraisers has never been quite right. The association was scared by improprieties of the few that led to a fallout of the many, with each party retreating behind walls of mistrust and perceived regulatory requirement. Recently, communication is civil but has been described as resembling two parties of a legal arrangement who speak to each other on an as-needed basis….

Anyone who has directed appraisal management knows that they are only as good as the appraisers they partner with. This makes it vital to value each member of your appraisal panel as an integral partner in your company’s business.

My comment: Well written and worth reading, plus the comments, of course. The author is a Senior Vice President of Quality Management & Collateral Risk at AnnieMac Home Mortgage… He is a Pennsylvania Certified Real Estate Appraiser.

Public Restroom App by Charmin: Find Clean Bathrooms!

Excerpt: A clean nearby public bathroom can be hard to find. But not all restrooms are created equal.

With SitOrSquat we put clean public toilets on the map. Literally. Clean locations have a green “Sit” rating. Less desirable ones have a red “Squat.”

So, the next time nature calls and you need to find a nearby restroom, SitORSquat will help you know where to go.

My comment: Thanks to appraiser Jerry Walsh for this great tip. He has used it for years. I am downloading it today!! I coulda used this 40 years ago when I started appraising in rural areas….. Better than The Bushes or Behind A Tree ;>

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4-19-18 Newz//Corelogic acquires a la mode. USPAP Q&A problems. Earth-Friendly Homes

Earth-Friendly Homes and Buildings for Earth Day, Sunday, April 22

Just For Fun!!

Click on the fotos of lots of ecofriendly buildings for more info. Fascinating, sometimes Weird, and Fun!!

A few: Mathematical Puzzle House, paper house, skyscrapers, Recycled Concrete Tube House, etc.

http://www.ecofriendlyhouses.net/ecofriendlyhouses.html

Appraisal Institute Requests Appraisal Standards Board to Rework Q&As

Excerpts: The Appraisal Institute in an April 13 letter to the Appraisal Standards Board formally requested changes to or the retraction of Q&A 2018-12, Employing an Extraordinary Assumption when a Client Provides Inspection Data and Q&A 2018-13, Appraisal Reporting – Certifications and Signatures.

The Appraisal Institute believes this advice is antiquated and out-of-step with appraisal practice and long-standing USPAP principles about not dictating the form, format or style of an appraisal report. Perhaps most concerning to AI is the apparent inclusion of additional requirements in this advice rather than in USPAP itself.

My comment: I completely agree with the AI’s issues with Q&A 2018-12 and -13. The certification issue has been around since USPAP required that the “previous 3 years” be included in the certification. The ASB needs to modify USPAP itself as I don’t think it addresses these current issues in appraising very well. Unfortunately, the new edition was effective 1/1/18. 2 years to wait.

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4-12-18 Newz//What’s a Comp? Multiple offers way over list. Rotating House

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

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:

Appraisal Business Tips 

Humor for Appraisers

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.

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What type of heater is needed for a loan appraisal?

What type of heater is needed for a loan?

March 22, 2018 By Ryan Lundquist

Excerpt: A guy wants to sell, but his central system is broken, so he has space heaters in each room. Does that work? Is it going to fly for a loan? What’s an appraiser going to be looking for when it comes to a heat source? Let’s consider some thoughts from Fannie Mae, HUD, local code, and different lenders.

Very well written, comprehensive and worth reading at:

My comment: I appraise a lot of Victorians, built when they were heated by fireplaces. Many added a floor heater on the first floor with no other heating source, including no heating on the second floor. The easiest way is to put baseboard electric heaters in the bedrooms, assuming electrical has been upgraded. I regularly get asked by local real estate agents about lender requirements. Now I know what to tell them!

Appraisal Business Tips 

Humor for Appraisers

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 , weird decor, hidden factors that affect value, mortgage origination stats, Covid tips for appraisers, etc.

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Can the Appraisal Profession be Saved?

Can the Appraisal Profession be Saved?

By George Dell, MAI, SRA
Excerpt: What does it mean “Can the profession be saved?” Does anyone else care except us?

The second question first. Who might care? Clients who have developed a trust for you and who are comfortable with the traditional ways of doing things. There is a group of us and of them who like doing things as always. It’s comfortable, requires little change, and is a ‘safe’ way of doing things.

But who might not care? We can break these down into two subgroups: 1) those that dislike our getting in the way of their deal; and, 2) those who genuinely want something different, more modern. For now, let’s dismiss the first group, and consider those who do want a better product, a better service.

What do you think? Post your comments!!

Appraisal Business Tips 

Humor for Appraisers

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 floating homes, the past,  colonial homes, mortgage origination stats, Covid tips for appraisers, etc.

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Water heaters and home loan appraisals

 

Things to know about water heaters during real estate transactions

By Ryan Lundquist
Excerpt: Let’s have a quick conversation about water heaters. During a real estate transaction does the water heater need to be raised or not? What are lenders asking appraisers to look for? Does it matter if it’s gas or electric, or if it’s located in the garage or house? Here’s some things to know. Anything to add?

Worth reading… especially if you have to check them for FHA, etc. Plus, read the comments.

http://sacramentoappraisalblog.com/2018/03/08/things-to-know-about-water-heaters-during-real-estate-transactions

Appraisal Business Tips 

Humor for Appraisers

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 beach towns, $2,358 PSF home, appraisal waivers, mortgage origination stats, Covid tips for appraisers, etc.

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Are residential appraisers inferior?

I Am Not “JUST” a Residential Appraiser

By Rachel Massey, SRA
Excerpt: There is no doubt that moving to obtaining a certified general appraisal license opens doors to varied and interesting work. If it is in one’s capacity to obtain this level, it is a great idea. That said, the idea of being “just” a residential appraiser has got to stop.

A good professional residential appraiser who studies the market, knows how to analyze and solve a problem, and can communicate effectively and succinctly, is a very valuable appraiser at that!

Worth reading, plus read the comments and post your opinion.
My comment: Rachel wrote a much longer, very interesting article for the paid Appraisal Today March issue: “What being designated means to me”
When I started appraising in the late 70s, residential was somehow considered “inferior”. I guess it has been going on for a very long time. I have always thought that residential appraisers are experts in one type of property: 1-4 units. If you are testifying in court on a single family home and the opposing attorney’s appraiser is an MAI who appraises a few times a year, you will blow them away!!

Appraisal Business Tips 

Humor for Appraisers

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 turret living, price fixing, seasonal price changes, mortgage origination stats, Covid tips for appraisers, etc.

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12-21-17 Newz//: AMC appraisal fraud, Fannie Appraiser Update, CoStar vs Xceligent

The Three Most Fascinating Homes In 2017

Just For Fun!!

Very unusual… and two are very low priced ;>
You just gotta see this 2 minute FUNNY video!!
Death and Breakfast, House with Big Cave, and Very Old Historic House

https://www.realtor.com/videos/video-behold-the-most-fascinating-homes-of-the-year/db7fb804-6cd6-4556-887c-49410eb6d77a

The Appraisal Standards Board has issued new Q&As for December 2017, dated 12/19/17:

Note: personal property and M&E not included in the list below
– Communicating Assignment Results Without an Appraisal Report
– Workfile Requirements When Communicating Assignment Results
– Adding an Intended User
– Assignment Conditions versus Client Conditions
– Proposed Construction Employing an Extraordinary Assumption
– Proposed Construction Employing a Hypothetical Condition

https://appraisalfoundation.sharefile.com/app/#/share/view/seea70b822d24fa59?

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11-2-17 Newz .Crazy Appraiser Stories, AirBnB and Value, 31 abandoned places

Crazy Appraiser Stories

Excerpt: I had a house where the 1st floor den was connected to the basement via spiral staircase. Wife did not want the appraiser to go down the spiral steps and said she would “show” room from the basement. Telephone rang, appraiser proceeded to the basement, opened the door and the room was full of whips, chains, and other erotica ala “50 Shades of Grey.” I said we would just call it a rec. room and shoot from the best angle to disguise the “toys”.
-Sharon Finnerty Cremen

My comment: I have heard this story a few times but never encountered it… Lots of other weirdness though, such as seeing the sky through a big hole in the ceiling, falling down backwards into a partially covered pond and destroying my camera, etc. Check out the Cat Photo and make up your own Cat Comments!! Here is mine: Those appraisers need to take more naps and Get A Life. I guess they do have a sense of humor occasionally though ;>

Check out the other stories and add your own to  the 26+ comments at:

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