Five Step Program for (Honest) Appraisers By Phil Boehm We live in interesting times. Large and small lending operations are doing battle for the remnants of the re-fi market. The Internet makes it easy for small, aggressive shops to compete with larger lenders on rates and fees. Borrowers are much smarter and much more likely...…
Read More
Truth about Coming In Low By Larry Cole In my market, if an appraiser comes in below the contract price he/she has 10 times the work to defend the low value. When this happens, the appraiser is assaulted by the lender, agents and the seller. (Seldom do I hear from the buyer.) If I’m low...…
Read More
Editor’s Note: The following three stories (Truth or Consequences) shed some light on what it means to be a working appraiser today. You are invited to draw your own conclusions about what may be wrong with the industry and what you can do to help fix it. Please forward your stories to dbrauner@workingre.com.(Thanks to the...…
Read More
Editor’s Note: As this story illustrates, new laws supporting appraiser independence are beginning to bite and may be indicative of a new day. Appraiser Board Turns Tables on Broker by Cary Barker, Assistant Editor The times, they are indeed changing. A previous WRE cover story, Turning Tide? Appraiser Independence (Volume 18), covers a spate of...…
Read More
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…
Read More
Editor’s Note: There will be life after HVCC. Here, appraiser Paul Chandler, MAI, offers his insider’s view on AMCs and how to make the new changes work for you. HVCC/AMCs – Change Equals Opportunity by Paul E. Chandler, MAI The Home Valuation Code of Conduct (HVCC), effective May 1, 2009, has created uncertainty and apprehension...…
Read More
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…
Read More
FHA, Fannie/Freddie Tell it Like it Is (to them) by David Brauner, Editor The appraiser Valuation 2009 conference in New Orleans in November offered unprecedented access to key regulators, AMCs and other decision makers regarding the future of the appraisal industry- that’s the good news. The bad news is that you may not like what…
Read More
Editor’s Note: Everybody knows these are not the happiest or most lucrative times for appraisers. Here are a few things you may not know, according to our latest survey, including what the vast majority of appraisers say may be the key to higher fees. State of Industry: AMC Boycott, Hanging On and Other Issues by...…
Read More
You can have the latest map program, aerials and any other special effects to make your report look as attractive and professional as possible but if you choose the wrong comparables, your result will be the worst appraisal report possible. This article shows the best way to choose comps, especially when sales of properties are…
Read More
