Editor’s Note: At OREP, we see that incorrect measurements are the cause of many E&O claims. Here are some tips on staying out of trouble. How to Report Building Areas Accurately (and avoid measurement mistakes) by Mark S. Langhamer As appraisers and review appraisers, some of us have seen fellow appraisers relying on building area...…
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The unique roles of a home inspector and agent in a real estate transaction are each clearly defined. But there can be times when one professional steps on the other’s toes. Take fees for instance.
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Editor’s Note: A desktop appraisal product introduced last month is the subject of concern among many Working RE readers and OREP.org members. Below is guidance issued by the North Carolina Appraisal Board. AMC-Desktop Product: USPAP Compliant? By David Brauner, Editor A new desktop product from a large, national appraisal management company (AMC) is drawing questions...…
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Editor’s Note: This story, one of several recent instances of lone appraisers fighting back in court, is further proof that the tide is turning for appraisers: consider the spate of legislative reform now under consideration to support appraiser independence- as reported in the current WRE, and the stunning Fannie/Cuomo agreement, which while flawed, is a...…
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Editor’s Note: You’ll find Part Two of this story at WorkingRE.com (Premium Content). From Appraising to Consulting By Robert K. Bell, Jr., MAI (retired) Many appraisers can convert residential form reporting assignments to consulting assignments with some know how. Many of our appraisals should be labeled appraisal consulting reports, since they give a market value...…
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Editor’s Note: In Part One, Bob Bell, MAI (retired) explains how appraisers can convert residential form reporting assignments to higher-paying consulting assignments with just a little know how. “Many of our appraisals should be labeled appraisal consulting reports, since they give a market value and solve problem questions in the Highest and Best Use section...…
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Editor’s Note: Who would have guessed that the Cost Approach would stir such emotions among appraisers nationwide? WRE received a sizable and emotional response to Cost Approach: Why Sidestepping it Can be Costly (WRE Online, Vol. 9). Significant Change to Cost Handbook by Marcos Campos, MAI, SRA A small change was made on page two...…
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Making AMCs Work for You by David Brauner, Editor Here’s a story about one appraiser who makes working for AMCs work for him. Many appraisers choose not to work for Appraiser Management Companies (AMCs) because, they complain, the top priority of AMCs is getting appraisals fast and cheap– with quality a distant second. This story...…
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Defensive Appraising in a Declining Market By John Lifflander, ASA As market conditions continue to decline, appraising has become more difficult and potentially perilous. Consequently, it has never been more imperative for appraisers to prepare reports in a way that will hold up to meticulous scrutiny. Properties that are selling or being refinanced now may...…
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Editor’s note: Determining what is or is not a “stable” market in these turbulent times is confusing for some. Appraisers report having appraisals rejected because the “Declining Market” box is checked on the Fannie Form. Others say they would be admonished for not indicating a declining condition. As always, the best advice is to be...…
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