When was the last time you indicated a functional obsolescence in the cost approach? Did you also reflect it in the sales comparison approach? Would you? Should you? These are questions we rarely, if ever, consider. Perhaps we even avoid the issue when we think the house we are appraising has functional…
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If you work with Appraisal Management Companies (AMCs) or are willing to keep an open mind about it, here are several key points on how to find the best companies to work for and how to make more money with less struggle, according to one appraiser who is doing just that.
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Editor’s Note: One appraiser with considerable experience as an “ordering agent” for lenders- a kind of AMC, has practical advice for fellow appraisers on the effective use the “conditional decline” to get more high-paying orders.
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Editor’s Note: With declining values come lawsuits and complaints. Somebody has filed a complaint against you with your state’s appraisal board. Now what do you do? Tim Andersen, MAI gives you some suggestions.
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Fritz Kelly, inspecting for 12 years in Arizona, has a problem common to inspectors: “I declined to go into an attic the other day. The access was in the master bedroom closet, full of clothes, etc. When I attempted to open the scuttle cover, it was obvious there were about 15 inches of blown in…
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As appraisers and review appraisers, some of us have seen fellow appraisers relying on building area size data from leases, the local assessor’s offices, property managers, developers, blueprints, etc. The whole key and foundation for an accurate appraisal is calculating the measurements and quantities correctly. Outlined below are a few examples of when problems may…
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Editor’s Note: These common errors to avoid are time-saving tips excerpted from the webinar Maximizing AMC Orders and Income presented by appraiser Bryan Knowlton and offered through OREP/Working RE Webinar Series.
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I have reviewed many appraisal reports where the appraiser performs the Cost Approach just because the client requests it, even though it is not considered a credible approach to the market value of the subject property. I see some of the same boilerplate statements in these reports, such as “due to the lack of…
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Editor’s Note: “Appraiser Coach” Dustin Harris says cutting the time it takes to appraise does not necessarily mean cutting corners-in fact, he says, there are ways to save time and increase quality.
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Editor’s Note: Most homeowners take smoke and Carbon Monoxide (CO) alarms for granted but they are important pieces of safety equipment that we as real estate professionals need to be aware of.
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