The presence of mold is a contentious issue for building owners, builders, insurance companies, real estate agents and others. Mold addendums to sales contracts are now offered by many real estate boards for use by their members in sales transactions. As a professional appraiser or inspector you need to understand mold and all its…
Read More
Speaking Like a Pro By Mike Casey Professional phrases for common situations: Newbie: “This is stupid,” or “Geez, will you look at this!” Pro: “For increased safety, we recommend…” Or “For optimum performance we recommend…” Newbie: Instead of the “Code Word” say: Pro: “Not serviceable, nonstandard, substandard, unconventional, inadequate, temporary.” Newbie: “It’s old.” Pro: “The…
Read More
Editor’s note: Expert knowledge of your local market is key to expanding your practice into consulting and review assignments. Many banks and national appraisal firms employ “sub-contracted” independent appraisers for administrative reviews. According to the author, knowing your local market will helps you understand potential factors affecting future sales prices, instead of relying entirely on historic sales. Understanding...…
Read More
Business for residential appraisers started slowing down in mid-2003. While your competitors are still reacting to short term increases and declines in business, now is the time to plan for the future.
The residential lender business is notoriously volatile, with wide swings in demand. You can keep a steadier flow of business by diversifying your lender…
Read More
Relocation Appraisals: What’s Not to Like? by David Brauner, Editor of WRE According to Dean Helsom, CRP relocation appraisals are one of the most satisfying types of assignments for all the right reasons: full fees, an absence of the typical pressures that appraisers face today and work that is challenging and rewarding. What’s not to...…
Read More
Live and Learn Complaints, Errors, Actions Blue Grass Missteps Larry Disney, Executive Director, Kentucky Real Estate Appraisers Board says that approximately 95 percent of all Kentucky complaints are real property appraisal assignments of one-four unit properties. He says the reasons for complaints vary but the most frequent violations are one of the following. * Not...…
Read More
Cautionary Tale! Keeping Track of Work Files Recently, an appraiser was the subject of disciplinary action by his State Board. The violation cited was “failing to produce records for an assignment under review.” If you maintain work files for five years, as per USPAP, and figure you can stop reading because it could never happen...…
Read More
Identity Theft – Appraiser Style The best advice comes from an FBI agent, though unfortunately for one appraiser, it came a little too late. That advice is: Be very careful who you work with and never give anyone authority to use your electronic signature. Here’s why. Billy G., we will call him while the investigation...…
Read More
Five Suggestions for Honest Appraisals by Doug Quenzer, Quenzer Appraisals, Inc. As we all know, lender pressure can vary but I agree that ultimately it is the appraiser who says yes or no. I’ve been there many times. The real question is how do we get rid of appraisers who always bow to lender pressure?…
Read More
Appraisers & Gramm-Leach-Bliley By Pat Butler Most appraisers have heard of Gramm-Leach-Bliley (Privacy Act) but few understand their obligations under the Act. Appraisers have disclosure obligations under Gramm-Leach-Bliley (GBL) when they are hired directly by a consumer to conduct an appraisal. Compliance means disclosing to the client whether any of their nonpublic personal information will...…
Read More
