Best of Show – Taking Appraisal Industry Pulse by David Brauner, Editor WRE Here is the best of show from the Valuation conference in Las Vegas and the latest on the issues that affect your business most– new forms from Fannie Mae, AVMs, 2006 USPAP, Scope of Work, identity theft, fraud, the future, negativity and…
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Editor’s Note: According to Don B. Swenson, MAI, changing your fortunes as an appraiser – moving from “form-filler” to consultant- if this is your goal, requires an expanded concept of appraising that looks beyond market value as being the solution to every problem. Those who manage to make the leap from appraising to consulting are...…
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Raising the Scope: New Role of Scope-of-Work By Sean Heath Ah, the law of unintended consequences. As defined, it means that the actions of people—especially governments—always have effects that are unanticipated or unintended. The Appraisal Standards Board (ASB), through their annual edits and amendments, has tried to make the Uniform Standards of Professional Appraisal Practice...…
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Editor’s Note: Regulator and appraiser Larry Disney shows how USPAP is more flexible than many presume, when it comes to reassigning appraisal reports. Dos and Don’ts: Readdressing, Reassigning and Transferring Reports By Larry Disney Real property appraiser licensees often ask, “Can I readdress, reassign or transfer a real property appraisal report?” The answer is “no,”...…
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Background
The Uniform Standards of Professional Appraisal Practice (USPAP) has been at the center of a tug of war for some time. On one side is the Appraisal Qualifications Board (AQB) of the Appraisal Foundation, which wants ultimate control over USPAP course materials and providers. On the other side are the states, which like to make…
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Question: I have been performing a lot of exterior drive-by appraisals for REOs and pre-foreclosure purposes. The intended use is not for any type of financial transaction but for estimating market value purposes only. What is the level of risk for these types of appraisals compared to purchases and refis? Typically these appraisals are for…
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Fannie Mae has introduced the addendum 1004MC and is requiring its use beginning April 1, 2009 (view the form at Efanniemae.com). It is a worksheet to help appraisers perform a market conditions analysis (MCA). By the time this hits your desk you should have begun the process of becoming familiar with it. Here…
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In order to continue in this profession with a decent income, residential appraisers have to begin looking for additional clients outside of the lending industry.
Non-lending clients are attorneys, accountants, agents, homeowners and insurance companies (for insurable value), among others. Attorneys need appraisals for marital assets for divorces; accountants need appraisals for estate purposes (retrospective market…
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Appraiser Tony Bamert, Bamert & Associates, Champaign, IL, feels he’s been asked to assume some new and unwanted responsibilities on recent appraisal orders and wonders if his are isolated concerns or issues other appraisers are grappling with as well.
“Traditionally, with any conventional appraisal, I’m not asked to touch the mechanical systems in a home in…
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Editor’s Note: This story is reprinted for Working RE Online, Home Inspector’s Edition. To opt-in please email subscription@workingre.com with “Home Inspector’s Online Edition” in the subject. Inspectors-Appraisers: Line Blurring? by David Brauner, Editor In a recent Working RE story, Appraiser: I’m No Home Inspector (WorkingRE.com, Library, Issue 24), appraiser Tony Bamert says he is asked…
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