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!! 

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9-21-17 Newz//Pivot- Not enough Appraisers To Too Many Appraisers, Appraising New Home In Old Neighborhood

How do we value a brand new house in an old neighborhood?

By Ryan Lundquist
Excerpt: Tip #5. The wrong one & modern homes: Just because something is brand new does not mean it’s going to fetch top dollar. If it’s the wrong type of house for the neighborhood, buyers might actually pay less for the property. It’s like when someone builds a plain earth-tone stucco tract home in a classic area with Tudors and Bungalows. Despite being new it might actually sell with a price discount if it doesn’t have any hint of era charm for the neighborhood. On the other hand there are modern homes popping up all over Sacramento (CA) and beyond that seem to defy this idea. These homes definitely don’t blend into the neighborhood at all in terms of design, but they’re still fetching high prices. Keep in mind though modern homes tend to carry wide appeal, so they are often able to break the mold of the neighborhood and still command a price premium because of their style. In short, modern homes are not vibeless tract homes, so it’s not really the same thing.
Click here to read the other 4 great tips plus some interesting comments!!

http://sacramentoappraisalblog.com/2017/07/26/how-do-we-value-a-brand-new-house-in-an-old-neighborhood/ 

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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!!

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9-7-17 Newz// Appraisers Helping Appraisers, SBA needs appraisers, It’s OK to Say No

Help Texas Appraisers Affected by Hurricane Harvey!

This fundraising campaign is co-sponsored by Mark Skapinetz (What’s It Worth Appraisal Services), Joe Mier (Joseph Mier & Associates), Lori Noble (The Noble Appraiser), Jonathan Miller (Miller Samuel Inc. Real Estate Appraisers & Consultants) and Phil Crawford (Voice of Appraisal).
As of 6pm 9/6/17 (West Coast time), at least two appraisers have donated the cost of an appraisal fee. 125 appraisers had contributed a total of $9,646 in the past 5 days.
If you have been affected by storms, you can apply to these folks to be considered to receive funding:
Mark Skapinetz:  wiwapp@gmail.com
Phil Crawford:  info@voiceofappraisal.com
Lori Noble:  lori@trpcg.com
Thanks to Dave Towne for these email addresses!
More info at:
Click here to donate
My comments: I prefer to give to people I know as it very satisfying. I started doing it 5-6 years ago. A former employee of mine became disabled and unable to work. I sent her $200 a month until she passed last year. A musician friend (my mentor), who is 82 years old, was trying to live on a small Social Security check. He sent me a Christmas card that mentioned some of his paintings for sale. I purchased a few for $400. Recently another musician friend in San Francisco was being evicted from his apartment after living there for over 25 years. I have been helping him send his records, CDs, etc. to friends around the country by using my UPS account.
I don’t know anyone personally affected by the Harvey disaster, but I contributed $100 as to help appraisers directly. I prefer to do this instead of donating to a charity. I also donate to charities, particularly local ones. I have my Amazon Smile account set up to automatically donate to the local Meals on Wheels. My living trust includes a large donation to my local NPR station, which I listen to every day.

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7-6-17 Newz: Tech Trends in 1776 .Arms-length transactions .Zillow vs. McMansions

8 Hottest Tech Trends in 1776

Just For Fun!! Take a break from writing up those darn reports. Is there any appraiser who likes writing reports. Not me ;>

Excerpt: At that time, the “best” technology available was the printing press and the “best” social network required the use of “word of mouth” in Public Houses… But while all this was going on, there were a bunch of entrepreneurs and a few startups that changed the world.
  1. Underwater warfare
  2. Telling accurate time
  3. Underwater exploration
  4. Indoor plumbing
  5. Kitchen stove
  6. Electricity
  7. Mechanical motion
  8. Multitasking
My comment: check out this great article!! It is only 2 days after July 4, so I decided to include this very interesting article by Shelly Palmer one of my favorite tech writers!

Arm’s-Length Transactions, Market Value and Related Parties, Part 2 By Richard Heyn, SRA

Excerpt: So while a non-arm’s length transaction may be a red flag that can point to an above or below market value transaction, the bottom line is that ALTs may or may not take place at market value.
Another area of misconception among appraisers regarding ALTs involves the application of the term “related parties.” Unfortunately, the term “related parties” is not defined in any authoritative appraisal-related literature that I am aware. The term is, however, defined in accounting standards and by the Internal Revenue Service, most notably in the IRS guidelines for exchanges of like-kind properties.

My comment: the excerpt above is from part 2, above is the link for part 1. I have read several long threads online about this topic. Lots of confusion. Rich’s articles are Most Excellent. Read These Articles!

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6-28-17 Newz// Octagon house craze, Reproducibility Crisis, AMC Technology Efficient?

Octagon House Craze in the 1800s

Excerpt: If you were a forward-thinking individualist in 1800s America, building an eight-sided abode was a great way to show it. The octagon house was a cutting-edge design at the time, believed to be a more efficient use of space, energy, and cost than the conventional square.

… Thousands of these geometric oddities were built by the time the trend hit its peak in the 1860s.

My comment: Wow!! I have never appraised an octagon house, but have seen a few from the outside. Have measured octagon turrets on Victorians.

Top cities where the number of million dollar homes is skyrocketing

Excerpt: In large swaths of the country, a cool million has mostly come to represent the new standard for good, upper-middle-class housing. “In more markets than ever before, the million-dollar mark is the new benchmark for that green lawn and white picket fence,” says Javier Vivas, manager of the realtor.com® economic research team.
  1. Denver CO
  2. Santa Rosa CA
  3. Boulder CO
  4. Truckee CA
Click here get the full list and read the comments on the cities – very interesting!!

My comment: In my small city in the San Francisco Bay Area, with a median price of around $850,000, many properties are listed just under $1,000,000 and sell over list. Starter homes are $750,000 to $800,000 (2 bedroom/1 bath, built before 1940, maybe updated kitchen and bath, 1000 sq.ft.) No, we did not get on the list. Already have too many over $1,000,000.. I am soo glad I bought my  house in 1985 for $135,000!!

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5-4-17 Newz .Appraiser Sues Coester. Regression Depression .Google Docs Phishing Scam

Appraiser sues Coester – email hacking

 Source: Appraiserville by Jonathan Miller

With links to court documents
 
Mark Skapinetz v. CoesterVMS.com Inc. and Brian Coester
Excerpt: Do you like to read John Grisham books? I have a story that is much better. It is about a residential fee appraiser in Georgia who filed suit against what the appraisal industry sees as the most notorious AMCs out there and its owner. The appraiser provides compelling tangible evidence with his claim that his email was hacked by the AMC.
… The complaint reads better than “The Firm.”
http://www.millersamuel.com/note/april-28-2017  Scroll down to appraiserville 
 
Dustin Harris Interview with the appraiser:http://appraisersblogs.com/mark-skapinetz-free-appraisers 
More analysis, opinions, and links to documents plus comments
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Regression Depression

Why is it so easy? Why is it so hard?

By George Dell, MAI, SRA, ASA

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4-6-17 Newz .VA Appraisers Congress Hearing .Appraiser and Timeshare Scam .Fourth Approach

Assessing VA Approved Appraisers and How to Improve the Program for the 21st Century – House Committee on Veterans’ Affairs Subcommittee on Economic Opportunity April 4, 2017

Link to video of hearing: https://youtu.be/uoVmYOq4HQY  (scroll forward past the logo)
Witnesses included:
– NAR 2016 Real Property Valuation Committee Chair
– Vice President, Appraisal Institute
– Chief Revenue Officer, Clear Capital

My comment: I have always been surprised that so few appraisers are interested in doing VA appraisals. Guess they like working for AMCs with hassles and low fees. Every week, at the bottom of every free email newsletter, I include the MBA origination stats, including VA, which is similar in volume to FHA. This week FHA and VA are very similar – around 11% of originations.

I wrote an article about the plusses and minuses of VA appraising in my Paid Appraisal Today newsletter, available to paid subscribers (see below). What I really like about VA is that you are helping veterans, not a lender trying to make a deal however they can. I noticed that a Representative O’Rourke was one of the first speakers in the video ;>
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Federal Court Permanently Bars California Man From Preparing Property Appraisals

Appraiser prepared thousands of appraisals in conjunction with timeshare donation scheme

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3-16-17 Newz: Appraiser indicted, Public records sqft, 3-D printed house

3D Map Shows America’s Most Expensive Housing Markets

Excerpt: Which U.S. housing market is the most expensive?
 It seems like the question should have a single, straightforward answer. But with varying definitions of what constitutes a housing market and with different ways of measuring home value, the question is not so clear cut.
Using data from Zillow, this 3D map shows the cost of housing by U.S. county. The height of each area represents the average price per square foot of its homes.
My comment: Fascinating graphic. Lots of counties well under $100 per sq.ft. My urban county: $477. Other CA rural counties under $150. Warning: Can Be Addictive ;> I love Microcosm graphics!!
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Top 10 Affordable Small Towns Where You’d Actually Want to Live, 2017 Edition
Excerpt: But does this (small towns) mean you have to trade excitement for enervation? As the city-dwelling comedian Lenny Bruce once said, “I hate small towns, because once you’ve seen the cannon in the park, that’s it.” So we focused on life beyond the cannons-small towns offering up rich cultures and a surprising amount of fun side diversions.

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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

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