The Market: One veteran says that in 37 years of appraising 2008 was the toughest market he’s ever seen and that 2009 could be worse. Several others, also appraising over 30 plus years of real estate cycles, agree. Their take? If you can make it in these conditions, you can make it.
Professional…
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Now you see it, now you don’t: that’s what appraisers are saying about data that is disappearing or changing after a report leaves their desktop. Here’s what is happening and why, according to appraisers, vendors and other industry insiders.
A certified appraiser, who wishes to remain anonymous fearing blacklisting, recently contacted her errors and omissions insurance…
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Reaction to the Home Valuation Code of Conduct (HVCC) and appraiser management companies (AMC) can be summarized as follows, according to the Appraiser Talkback Blog and Survey:
Appraiser selection by AMCs is mostly based on the lowest bid and not on quality or competency, and the fees, generally, are not adequate to keep many appraisers in…
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The anxiety of working with the new crop of appraiser management companies (AMCs) springing up since HVCC, expressed here by a long-timer reader, underscores why so many states have passed or are considering legislation to regulate AMCs. Appraisers need to know who they are dealing with and so does the public.
“One AMC I am dealing…
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Appraisers are finally being heard.
As a result of grass roots complaints by appraisers about diminishing appraisal quality in industry blogs, publications, the general media, and in a formal appeal by a coalition of appraisal organizations, the Federal Housing Administration (FHA) announced several important policy changes intended to increase accountability and due diligence in the appraisal…
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Having good relationships with a handful of appraisal management companies (AMCs) that are great to work for- they pay fairly and on time, don’t pressure for turn times or value- is only part of Montero’s secret to success (find AMC list below).
First, here’s how Montero is different from most appraisers, according to the HVCC Talkback…
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I was reading the Working RE survey results and have a few thoughts outside of the survey questions. The story states that many appraisers have gotten out of the profession due to lack of business. I'm curious why they have a lack of business.
I'm currently a Certified Residential Appraiser. I've been doing appraisal work for…
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Jim Park, Executive Director of the Appraisal Subcommittee (ASC), has valuable information for appraisers regarding their professional information posted publically on the National Registry of Appraisers and more.
Last year, when Park spoke at the Valuation Expo in San Antonio, many appraisers wondered why the “complaint hotline,” established under Dodd-Frank nearly three years ago, was taking…
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Appraiser Kim L. Herzfeldt is mad as hell at being stiffed by AppraiserLoft and by the lender’s refusal to redress the loss. His course of action offers hope and possible precedence for every appraiser who is owed money by an Appraisal Management Company (AMC).
“It felt like your best friend stealing your daughter’s college fund,” says…
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Editor’s Note: Fast becoming one the profession’s most pressing problems, another AMCs has failed; this time leaving individual agents/brokers owed thousands or tens of thousands of dollars. How the lender and regulators respond may create important precedence for the industry. AMC Fails: Appraisers and Agents Stiffed Again By Isaac Peck Evaluation Services/ES Appraisal Services is…
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