Appraisal News and Business Tips

Trumpish speculations

2-23-17 Newz// Transportation failures, Polluted Cities, Appraisers Age

With Trump changes in the news, guess I need to put something in this email newsletter ;>


Big Banks Could Get Back in the Mortgage Market in a Big Way
Excerpt: For the past six years, there has been a quiet revolution in the mortgage market: Big banks like JPMorgan (NYSE: JPM), Bank of America (NYSE: BAC) and Citibank (NYSE: C) have moved out and nonbank lenders such as Quicken, loanDepot and Caliber Home Loans have moved in – in a big way.
The revolution went largely unchallenged, but that may be about to change if the Trump administration removes regulations on the big banks and stops sending bad loans back to the banks for repayment. Deregulation would open the door for big banks to move back in.
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The Least Polluted U.S. Cities (and the Dirtiest)
Least polluted
1-Naples FL
2-Salem OR
10 – Salinas CA
Most polluted
1-Philadelphia PA
2-Los Angeles CA
10- Milwaukee WI
My comment: Worth reading. Very interesting results and a well written article!!
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5 Spectacular Transportation Failures

Read more!!

2-9-17 Newz// Dodd Frank repeal?, Secret Places, CU ratings manipulation

11 Secret Spaces Hiding in Famous Places

Thousands of people pass through these destinations each day unaware there’s a hidden gem tucked inside.
Here are a few:
– Secret Apartments in the New York Public Library
– Secret Compartment in Leonardo da Vinci Statue – Italy
– Vanderbilt Tennis Club at Grand Central Terminal – New York
– Gustave Eiffel’s Secret Apartment – Paris
My comment: Just for Fun. Fascinating!! Good fotos and info. New York seems to have a lot of secret places…
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FREE ASC/Appraisal Foundation Webinar from Network of State Appraisal Organizations
On January 18th, NSAO sponsored a webinar with Jim Parks with the Appraisal Subcommittee and David Bunton with The Appraisal Foundation. The webinar received glowing reviews by those who attended and is available to those who missed it. The NSAO looks forward to other webinars in the future. These webinars are only possible because of your membership with VaCAP and other State organizations.

Read more!!

1-26-17 Newz: Master baths .Failed appraisals .$220 million home

The Rise of the Luxurious Suburban Master Bathroom
How a utilitarian room turned into a pleasure palace.
Excerpts:
Bathrooms haven’t changed much since indoor plumbing became a standard feature in newly built homes at the turn of the 20th century.  This, coupled with changing societal expectations regarding the frequency of bathing and new technology such as the flush toilet, swiftly ushered in the era of the modern bathroom.
The story of the master bathroom was long in the making. A space we now deem a necessity is only around 36 years old. It’s one of many examples of how a cocktail of social, technological, and economic influences combine to create new standards of living, and change the face of not only architecture, but how we live.
My comment: Fascinating, with lots of historic bathroom photos and excellent commentary! No comment on “master” and fair housing ;>
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This Is What a $250 Million House Looks Like
As a glut of mega-homes hits the L.A. market, developers are taking it up a notch.

Read more!!

12-15-16 Newz// Unique Airports, Deregulation and Appraisers, Victorians Under $200k

Beautiful airports and Victorians under $200,000

Unique and Beautiful Airports Around the World

Architecture that redefines what it means to travel in style.

All I can say is WoW!! Take a break for a few minutes and look at these photos…

http://www.atlasobscura.com/articles/photos-of-the-worlds-most-unique-and-beautiful-airports

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Affordable homes from all over the country (Hint: No fixers)

Just scroll down the pages.

7 Victorians under $200,000 (No tiny homes)

http://www.realtor.com/news/trends/victorian-homes-under-200k/

8 homes under $100,000 (Hint: no fixers)

http://www.realtor.com/news/trends/black-friday-bargain-homes-under-100k/

My comment: Wow!! Those Victorians in my city would be way over $1,000,000 on lots under 5,000 sq.ft. !!!


Sadly, The Appraisal Institute is now working against its local chapters by Jonathan Miller, posted 12/9/16
Read more!!

12-15-16 What do I think about speculations on deregulation and appraisals?

For awhile after the election I thought deregulation meant getting rid of appraisals. Of course, lenders would love this.

But, why did we still have appraisals after the deminimus of $250,000 in 1989? Investors, who purchase the residential loans wanted them. Will they trust CU, BPOs, AVMs, etc. etc. Not very soon, if ever. Many thanks to the long conversation I had with long time reader and Michigan appraiser David Fishman. It reminded me of 1989 FIRREA and what it meant. Not sure if they will cut way back on commercial appraisal requirements, though.