Appraisal News and Business Tips

Posts Tagged unusal homes

1-10-20 Newz: Unique Bathrooms – Manufactured Homes – Appraisal Modernization

10 Unique Bathrooms

Excerpt: The world is filled with remarkable restrooms. Some of them are no longer open to the public, such as the Stufetta del Bibbiena, a small bathing chamber with erotic-art-covered walls in the Vatican’s Papal Apartments. Others have been transformed into something totally new, like the London coffee shop that was once a Victorian urinal. But there are plenty of breathtaking bathrooms that are publicly accessible and just waiting to be wetted. These are 10 of the world’s most opulent and bizarre bathrooms.

Here are a few

  • Two story bathroom
  • Berlin Wall urinal
  • World’s Most beautiful public toilet

To read lots more info and see the good fotos To read more, click here

My comments: FYI, bathrooms are one of the very most popular topics in these free appraiser weekly emails. I have no idea why ;>

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1-3-20 Newz: $65 Million Price Cut – No. of Bathrooms – Rate Forecast

Number of Bathrooms in New Homes

Excerpt: The Census Bureau’s latest Survey of Construction (SOC) shows changes in the number and shares of bathrooms and half-bathrooms of single-family homes started in the United States in 2018. The latest year’s data show that 3% of new single-family homes started had one bathroom or less, 64% had 2 bathrooms, 26% had 3 bathrooms, and 8% had 4 bathrooms or more. The term “bathroom” as used in this post refers to a full bathroom.
Interesting analysis, worth reading To read more, click here

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12-20-19 Newz: Appraiser Wins Lotsa Pizzas – $1B Appraisal Error – Past and Future

Good News: Appraiser wins $100 worth of Aurelio’s pizza every month for next five years

Just For Fun!!

Excerpt: Alvin “Chip” Wagner thought he received a crank call when Aurelio’s Pizza CEO Joe Aurelio phoned to tell him he’d won 60 months of free pizza in honor of the chain’s 60th anniversary.

“I had the call on speaker and my wife said, ‘I think this is really Joe,’” Wagner said.

To read more, click here

My comment: I have known Chip for many years. He deserves pizza plus a little big of fame ;> Appraiser in the Good Newz!! Thanks to Jonathan Miller for this Fun link!!

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12-13-19 Newz: Fannie Appraiser Update – “Affordable” Mansions – Pyramid House

Fannie Appraiser Update December 2019

Topics:

  • Multiple parcels
  • Significant appraisal defects
  • How are you modernizing?
  • How appraisal waivers fit with our risk mindset

To read more, click here

To go to Fannie’s Appraiser Page, click here

Lots of info, including their updates. I use it a lot. Read this month’s newsletter and the old newsletters.

My comment: Some useful info in the Update. Of course, appraisers are worried about appraisal waivers. Fannie has a short explanation about the risk and when they are used. I have known for decades that some properties were low risk and appraisals were not really “necessary”. Especially with a low LTV, good credit, etc. CU has so much data now it is much easier to make a determination. Bifurcated are coming. Fannie decided to postpone them without an appraisal, but I am sure this is the future.

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12-6-19 Newz: Appraisal Shelf Life – AVMs – Neighborhood Analysis

What’s the Shelf Life of An Appraisal?

Except: All of this has let me to the question du jour. What is the shelf life of an appraisal? I am asked on a regular basis, “How long the appraisal is good for?”. The simple answer is, one day. Namely, the effective date of the report. Real estate appraisals reflect the appraiser’s opinion of value of the property being appraised, based upon a specific point in time. Why?

Real estate values are changing every day. Like food, there are external forces that affect the value of a home, and how rapidly it changes. Does that mean that the appraised value will be dramatically different the day after the effective date of the appraisal? Probably not. However, no appraiser can see into the future to know what tomorrow will bring.

To read more, see fotos and comments click here

My comment: I love these very creative articles. I have no idea how he does mashups of appraisals and all types of other topics! Plus I thought I understood food shelf life. Now I know a lot more ;> Creative videos and animated gifs, etc. Lotsa fun!!

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11-29-19 Newz: Choosing Comps – VA and Bifurcated – Most Expensive Homes

By George Dell

Excerpt: This question caused me to rethink the relationship of ‘spiritual’ or ‘mental health’ principles to profitable business practices. From last year’s blog, the research showed benefits with: relationships, physical and emotional health, reduced anger/isolation, sleep, self-esteem, and even improved brain power! Cool.

So, do these things cost me money? Or do they help make more money?

Let’s start with the obvious: what’s in an appraiser’s required belief system: Standards, ethics, and conduct. Recall that USPAP requires you to be worthy. Worthy of belief. Credible.

So, what in that list helps me make more money?

To read more, click here

My comment: Very good appraisal comments for Thanksgiving and the upcoming holidays! Worth reading.

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10-11-19 Newz: Appraisal Waiver Train – Multiple Offers – Secret Doors

Banks Are Driving the Appraisal Waiver Train

By Jonathan Miller

Excerpt: Look at the ASC members and their North Dakota waiver vote on July 9, 2019

Only FHFA and HUD voted against the North Dakota Waiver. Those specific agencies deal with appraisers first-hand and understand their role in the risk management process. The remainder are bank regulators or in the case of CFPD, represent consumer interests (and the agency has been gutted over the past several years to reduce its pro-consumer efforts).

In other words, banks are driving the waiver train. They want to remove a pain point from the mortgage process to grow more origination volume. The Federal government has already proved it will be willing to back up the banks if the economy collapses so why not keep pushing for removing of all pain points?

To read more, click here

My comment: Nothing new. Lenders have wanted to get rid of appraisals for decades. Impediments to The Deal.

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9-20-19 Newz: Fannie Update – Domes – Low appraisals – Avengers

Fannie Mae September 2019 Appraiser Update

Sept. 13, 2019

Topics include:

– Forms for appraisers performing PDC and desktop appraisal

– Desktop appraisals, assumptions, and hypothetical conditions

– Locked rooms

– Consumer protections

– State board notifications

Only 5 pages. Easy to read and informative. To read more, click here

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Fannie Mae Appraiser Home Page

Everything Fannie In One Place!!

To read more, click here

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9-13-19 Newz: FRT issues – Why Suburbs Look the Same!

Fuggerei

In this truly magical place, rent hasn’t been raised since the year 1520! Just For Fun!!

Excerpts: After minting coins for the Vatican and making a name for himself as one of Europe’s greatest early entrepreneurs, Jakob Fugger (aka “Jakob the Rich”) turned his eye toward those in need. What emerged from this vision has persisted as the world’s oldest charitable social housing complex.
In the year 1517, construction began on Fugger’s vision for what would become the golden-walled enclave of Fuggerei, which he created as a way of providing affordable homes for day laborers, artisans and their families. Though it sustained heavy damage during a bombing raid in WWII, the community was restored to its pre-raid condition, where it has remained uninterruptedly inhabited since its founding in 1520. The city-within-a-city consists of private residences including 67 houses, 147 apartments, St. Mark’s Church, and an administrative building.
To read more, click here

My Comment: Wow!! Really gives me a perspective on rent control here in California and in my small city. Rents are increasing all over the country.

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8-30-19 Newz; 99.99% Price Drop – Curious Bathrooms – Amazon’s $105K House

Once listed for $1 billion. Sold for $100,000. What just happened?

Excerpt: A heated court battle, a last-second offer and a sparsely attended auction behind a fountain in Pomona — this chapter of the famed Mountain of Beverly Hills ends not with a princely sum but a sale price more like that of a sports car.

Touted as the city’s finest undeveloped piece of land, the 157-acre property redefined the luxury market when it listed for a record $1 billion last year. On Tuesday, it sold for a mere $100,000 at a foreclosure auction, a fraction of the $200-million loan outstanding on the property.

A markdown of 99.99%, of course, comes with some fine print. Any other buyer would have been on the hook to repay that loan — and this buyer has to eat that loss

To read more, click here

My comment: Quite a story!! Only in LA, of course!! FYI, I am in Northern CA… very different here. We think we are superior to LA ;>

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