Teaching Your Clients Well At a recent industry show in Las Vegas (Valuation 2007), one speaker suggested that appraisers facing pressure may try “educating” their lender-clients about the rules, just in case they don’t know. You may be surprised by what is set in stone. One document that can be used for this purpose is…
Read More
Editor’s Note: In our cover story last issue, “AVM Tango! Man or Machine?” we reported that as a result of our AVM questions, Appraisal Standards Board (ASB) Chair Greg Accetta indicated further clarification would be forthcoming. Here is a statement issued by the Appraisal Foundation in June 2007 (www.appraisalfoundation.org). Are AVMs Appraisals? Appraisal Standards Board...…
Read More
Editor’s Note: The following Q&A with MARI results from its name coming up again and again as the source of complaints against appraisers. The responses are from Merle Sharick, Vice President – National Manager of Business Development, Mortgage Asset Research Institute (MARI), a ChoicePoint company. Mr. Sharick has been at MARI for four years, after...…
Read More
Editor’s Note: The following Q&A about how to report a crooked floor in the face of pressure (from a crooked lender), demonstrates what a powerful tool a good Scope of Work can be in deflecting pressure, limiting liability and producing more professional reports. Scope of Work Q&A: Deflecting Pressure, Reducing Liability by David Braun, MAI,…
Read More
Editor’s Note: We found the following quote among many similar comments online over the summer: “I took the seven-hour USPAP class to update myself on the new changes to USPAP. Most of the class left confused and unclear with regard to some of the changes.” (Appraiser wishes to remain anonymous.) The following is excerpted from...…
Read More
Question: Mr. Spool: I read your article (How to Increase Residential Appraisal Income) and it was very informative. I have been marketing to agents but your article gave me the great idea to offer free classes as another marketing tool. I was wondering if you could share information as to what your classes entail. I…
Read More
Editor’s Note: In this installment of Valuation Issues and Answers, Lifflander, ASA,explains how to handle foreclosures and short sales when choosing comparables. Valuation Issues & Answers Foreclosures & Short Sales as Comps By John Lifflander, ASA Question: Please explain the difference between an actual foreclosure sale and a short sale. Should short sales be used…
Read More
Industry News When Do Comps Requests Cross the Line? The following Q&A comes from attendees to the webinar The Top 5 Questions Asked of an Appraiser and How to answer presented by Richard Hagar, SRA. (For more, visit WorkingRE.com, Webinars.) Question: Hi Richard. I took part in your webinar last week on the Top 5…
Read More
Editor’s Note: The following Q&A is from Lee Hess, PhD, author of Navigating USPAP. “The USPAP Q&A that have appeared in Working RE previously have generated many additional questions from readers,” said Hess. “Here are more questions and answers that affect the every day practice of appraising.” USPAP Q&A: Clarifying Competency, Reviews, Past Sales &…
Read More
“Comp Check” Q & A from The Appraisal Foundation Can Appraisers Perform “Comp Check” Assignments? Question: I’m a residential appraiser and have been asked to perform a “comp check” (or “pre-comp”) assignment, where a client wants to get an idea of the value of a home prior to proceeding with a mortgage financing transaction. Does…
Read More
