Author: Dave Towne

Financing Concessions for Comparables 2

Update on Financing Concessions for Comparables

Appraisers, The GSE’s have issued a UAD newsletter on Sept. 18, 2012. Mostly it has ‘stuff’ in it that appraisers should be doing, i.e., checking for proper UAD compliance prior to report submittal by using your report software on-board reviewer. However, this little gem is the last item on page 2: Update on Financing Concessions for Comparables The GSEs expect appraisers to determine the financing concessions, if any, for all settled sales used as comparables in appraisal reports. Appraisers are expected to do what is necessary to determine concession amounts through the normal course of business and not automatically default...

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Putting Your Licence in Your Appraisals?

Why I refuse to put a full size copy of my appraisal license in reports This story appeared in the Columbus Dispatch, Columbus, Ohio on Jan. 14, 2012.  I have ‘clipped’ excerpts: Durk Reese’s efforts to launch an appraisal business were nearly destroyed when his name was used without his knowledge on inflated appraisals as part of a mortgage-fraud scheme. Mark Harmon is still trying to recover from the damage to his reputation after his name was used in the scam two years ago. Both were victims of identity theft committed by Daniel J. Nichter, a former Franklin County development...

Home appraisers slapped in the face by NAR 2

Another NAR Slap in the Face of Home Appraisers

We need to combat NAR negative stereotype and flood the various media outlets continually to discuss why home appraisers are not bound by the ‘sale price’ of a property. Appraisers, The National Association of Realtors has put out another news release extolling the increase in August home sales, while still BLAMING you. This is a common theme of theirs. Excerpts of the release found in the e-newsletter marketwire on marketwatch.com 9/21/2011: Existing-home sales increased in August, even with ongoing tight credit and appraisal problems, along with regional disruptions created by Hurricane Irene, according to the National Association of Realtors(R). Monthly...

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UAD Quick Reference Guide

Dave Towne developed this UAD Quick Reference Guide (QRG). The UAD is the most significant change to report preparation since national forms were adopted in the early 1960’s. His reference guide condenses the current 37 page UAD Appendix D manual into 5 basic ½ sheet pages, plus a conversion chart for the site size (since many counties report small sizes as a digital portion of an acre). It is organized so that appraisers can reference page 1 & 2, depending on which page in the report is being worked on. Definitions and other details are also included, taken from the...

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