Posts Tagged real estate market

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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https://georgedell.com/magical-appraiser-wand/

Do Appraisers Need Magical Adjustments?

By Ann O'Rourke on February 15, 2018 / adjustments, appraisal how to, appraisal waivers, evaluations, Fannie, Mortgage applications, mortgage loan volume, rental market, unusual homes / Leave a comment

Tags: adjustments, appraisal how to, appraisal regulations, cost, forecast, mortgage loan volume, real estate market, unusal homes

The Magical Appraiser Wand

By George Dell

Excerpt: Can you just give me some magical software which will calculate my adjustments?

I get asked questions like this often. Can you just show me how to do a graph a client wants? Can you just give me your class stuff so I don’t have to come all that way? So often, the question degrades into something like “Why does the regression software give stupid answers?” I pushed the magic button!

People do not like the answer. You’re paid to do an analysis, not wave a magic wand, or push a magical appraisal button. We have another name for that, it’s called an AVM. In addition to a point value prediction, AVMs can be tested for reliability. This is called the FSD (Forecast Standard Deviation). The AVM. It gets results. It’s fast. It’s cheap. And it provides a measure of reliability – the FSD.

Why would a client want something slower and more expensive with no measure of reliability? Why hire a pesky appraiser?

Click here for the answer!!

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

Covid-19 Residential Appraisers Tips on Staying Safe

COVID Risk When Appraising Apartments and Commercial Properties

Covid-19 Residential Appraisers Tips on Staying Safe

Covid Airborne Transmission Inside Homes

How to reduce Covid airborne transmission risk

Physical distancing – 3 ft. vs. 6 ft. vs. 13 ft. vs. ??? – new research

ADD LINKS FOR HUMOR AND BIZ TIPS

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 , mortgage origination stats, Covid tips for appraisers, etc.

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 waivers, air bnb , mortgage origination stats, Covid tips for appraisers, etc.

https://www.realtor.com/advice/sell/small-home-flaws-that-can-be-big-deals-for-buyers

7 “Small”Home Problems – Appraisal Adjustments?

By Ann O'Rourke on February 8, 2018 / appraisal business, Appraisal Qualifications Board, marketing, Mortgage applications, unusual home, unusual homes, weird homes / Leave a comment

Tags: appraisal business, Appraisal Qualifications Board, appraisal regulations, marketing, mortgage loan volume, real estate market, strange house, unusal homes, weird properties

7 Small Home Flaws That Can Be Big Deals for Buyers

Excerpt: Here are a few:

2. Ripped window screens

3. The location of your laundry room.

4. Sticky door locks. Live in a house long enough, and you’ll encounter a malfunctioning door latch or lock. That may be no big deal to you, but it may alarm buyers big-time.

5. Your bathtub or shower. Some people prefer showers, others want baths (particularly parents who must clean up small kids). So if you’re missing one or the other, watch out.

Interesting and worth reading at:

My comment: Any adjustments for these?? ;> It may help explain why some homes sell and some don’t or sell low. In my area, almost all listings are fixed up and staged. I will never forget selling my house in 2008. I fixed all the stuff that had been bad for years. I did not want to sell it!!!

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 waterfront home, independent contractors,, mortgage origination stats, Covid tips for appraisers, etc.

http://terriblerealestateagentphotos.com

More Terrible Real Estate Agent Photos for Appraisers

By Ann O'Rourke on January 11, 2018 / AMCs, appraisal management company, real estate market, USPAP, weird homes / Leave a comment

Tags: AMC, appraisal management company, mortgage loan volume, real estate market, unusal homes, USPAP

Terrible Real Estate Agent Photos

Just For Fun!!

Most Excellent Photos and Very Creative Captions!!

Very, very funny and weird!!

You just gotta see them! Cannot be described.

Terrible Real Estate Agent Photos for Appraisers

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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 USPAP, Appraiserville, mortgage rates in 2018, mortgage origination stats, Covid tips for appraisers, etc.

http://rismedia.com/2017/12/27/reasons-why-national-mls-database-makes-sense/

National MLS Database for Appraisers?

By Ann O'Rourke on January 4, 2018 / AMCs, appraisal business, Appraisal Qualifications Board, CU, data, Fannie, Mortgage applications, new appraisers, real estate market, unusual home / Leave a comment

Tags: AMC, appraisal business, appraisal management company, Appraisal Qualifications Board, collateral underwriter, data, Fannie forms, mortgage loan volume, new appraisers, real estate market, unusal homes

A National MLS Database?

Excerpt: Instead of considering the consolidation of the governance and management structures of the MLS, thereby providing coast-to-coast cooperation among brokers, we should instead focus on MLS data and technology infrastructure, and support the movement toward a national database system.

This would create a vast information network available to application developers who, until now, couldn’t offer tools to agents and brokers without expensive and time-consuming customization for every individual MLS.

NOTE: THIS WAS PUBLISHED IN 1-18. THEY KEEPT TRYING IN 2020!!

My comment: The author is vice president of Business Development for Realtors Property Resource® (RPR®), created by NAR. More info at www.narrpr.com . Very interesting and worth reading. Poor real estate data has been a problem forever. Non-standardized MLS data is a nightmare for appraisers. This database would be accessible to appraisers, CU, and AVMs I assume. Of course, we all know how accurate MLS data is…

Reliable MLS Data important for appraisals

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 bath tubs, new appraisal forms,, mortgage origination stats, etc.

https://georgedell.com/is-your-life-integrated/

12/28/17 Newz//Home prices since 1870, Change your templates!!, Very unusual airports

By Ann O'Rourke on December 28, 2017 / AMCs, appraisal business, appraisal management company, appraisal waivers, real estate market, weird properties / Leave a comment

Tags: AMC, appraisal business, appraisal management company, appraisal waivers, real estate market, weird properties

CHANGE YOUR TEMPLATES!!, computer folders, etc.

Appraisal template(s) forms, and narrative appraisals, proposals/bids, etc.
Set up new (sub) folders on your computer for 2018, such as 2018fotos and 2018appraisals. Every year, starting January 1, I keep using 2017 on my personal checkbook. I am setting up about 10 checks with the year already on them so I finally will get this right ;>
Note: this depends on what you have already set up. Or, maybe it is time to think about setting up folders if you have difficulty finding files.

RECORD YOUR 1/1/18 AUTO ODOMETER READING AND DON’T LOSE IT!!

For your mileage log. I also always go to my mechanic for oil change, etc. to get an “official” odometer reading, which the IRS prefers. I learned a lot after miserably failing my IRS audit of my “recreated” mileage log as I did not have one.

Is Your Life Integrated? – George Dell

Tools for work, tools for life.

Excerpt: This time of the year for many is a time of reflection and hope. My reflection today is how some principles of our profession may be principles of a successful life; what those principles may be, and how they’ve contributed to my joy and sense of satisfaction and service.

Very interesting. Worth reading!!

My comment: I have known George for many years. He has appraisal ideas I have never seen anywhere else. He is a regular contributor to the paid Appraisal Today.

https://www.mnn.com/lifestyle/eco-tourism/photos/13-animal-shaped-buildings/architectural-menagerie

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

By Ann O'Rourke on November 16, 2017 / adjustments, appraisal business, appraisal how to, bad appraisers, Mortgage applications, mortgage loan volume, statistics, unusual home, weird homes, weird properties / Leave a comment

Tags: adjustments, appraisal business, mortgage loan volume, real estate market, strange house, unusual buildings, weird properties

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.

https://www.citylab.com/design/2017/10/why-timber-towers-are-on-the-rise-in-france/544098/

https://www.appraisalbuzz.com/crazy-appraiser-stories/

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

By Ann O'Rourke on November 2, 2017 / adjustments, appraisal business, appraisal how to, Mortgage applications, Strange homes, weird homes, weird properties / Leave a comment

Tags: adjustments, appraisal how to, mortgage loan volume, real estate market, unusal homes, unusual buildings, weird properties

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:

https://www.atlasobscura.com/articles/the-asymmetrical-charm-of-crooked-houses

10-19-17 Newz// Appraisal Waivers, Crooked Houses, High-Low Home Prices

By Ann O'Rourke on October 19, 2017 / appraisal business, appraisal waivers, Collateral Underwriter, evaluations, Fannie, unusual home, unusual homes, USPAP / Leave a comment

Tags: appraisal waivers, collateral underwriter, evaluations, mortgage loan volume, real estate market, unusal homes, USPAP

The Asymmetrical Charm of Crooked Houses

They’re like regular buildings, but with a twist.

Excerpt: THE BUILDINGS THAT OFTEN GET the most praise (one famed tower in Pisa not withstanding) are those that stand up straight, refuse to bend or bow over time. But those buildings are boring. The really compelling constructions are those buildings that, despite looking like they are slowly keeling over, continue to stand, and continue to be used.

Some whimsical tourist traps have been purpose-built at odd angles, but it’s the buildings that were never meant to lean that are far more fascinating. Whether due to construction errors, shifting ground, or just the accumulated weight of time, some buildings have become crooked masterpieces of architectural fortitude. Take a look at some of the most stunning crooked houses in the world.

My comment: Just For Fun!! Good fotos and descriptions.

https://www.wired.com/story/googles-new-street-view-cameras-will-help-algorithms-index-the-real-world

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

By Ann O'Rourke on September 14, 2017 / appraisal, appraisal business, appraisal how to, data, Freddie, future, lender appraisals, Mortgage applications, mortgage loan volume, statistics, unusual home, unusual homes, weird homes, zillow / Leave a comment

Tags: appraisal business, appraisal how to, data, Fannie, future, mortgage loan volume, real estate market, strange house, unusal homes, zillow

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:

https://www.appraisalbuzz.com/appraisal-institute-seeks-prevent-appraisal-waivers/

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!!