Tagged: National Association of Home Builders

The Partisan Battle to Eliminate Dodd Frank 15

The Partisan Battle to Eliminate Dodd Frank

Dodd Frank created the illusion… I had a different “take away” from the Housing and Insurance Subcommittee “Modernizing Appraisals” hearing. My impression was that there were two simultaneous hearings by the same people in the same place. There was the actual televised hearing with disparate prepared speeches, and then there was the real underlying reason for the hearing. The partisan battle to eliminate Dodd Frank. I try very hard to take a non partisan approach to the issues facing appraisers when writing about or for the American Guild of Appraisers (AGA). Obviously AGA is a union organization, though as I’ve...

Modernizing Appraisals: It seems we're stuck in 1989. 46

Modernizing Appraisals & Being Stuck in 1989

Modernizing Appraisals: It seems we’re stuck in 1989… On November 16, 2016, the Housing and Insurance Subcommitte held a hearing on “Modernizing Appraisals: A Regulatory Review and the Future of the Industry.” Subcommittee discussed modernizing appraisals to benefit American consumers. The hearing focused on necessary changes to the appraisal industry. Subcommittee Chairman Blaine Luetkemeyer (R-MO) explained: “Appraisals are one of the cornerstones of the home-buying process. Issues that impact appraisers also impact nearly every American buying or selling a home, in rural and urban areas; in high- and low-income neighborhoods. Yet when it comes to the regulatory regime surrounding appraisals,...

Expert Witnesses Don't Include Appraisers - You Are NOT Invited! 13

Appraisers Are NOT Invited!

“No room” for any additional expert witnesses representing appraisers’ interests… Who are the Valuation Professionals? Appraisers are unbiased and impartial in determining the market value of a property. We have the most training, both in the class room and in the field. We continually improve our skills and knowledge. We are the first to see market trends and continually monitor our coverage areas for triggers of market change. We are held to the highest standards. Appraisers are the valuation professionals that protect the consumer. If the above statement is correct, someone please provide some insight into why not one appraiser...

Laxer Restrictions - Residential Real Estate Industry & its lobbying groups pushing for looser restrictions on real estate lending - Imagecredit Flickr - Shawn Rossi 8

Laxer Restrictions? Not Again!

Skinning appraisers alive and blaming them for everything except the disappearance of Jimmy Hoffa and now pushing for looser restrictions! With the overall economy improving and with unemployment dropping back to more manageable levels, it was only a matter of time before the residential real estate industry (builders, bankers, mortgage lenders, Fannie Mae, Freddie Mac and Wall Street) and its lobbying groups and trade associations popped up and asked for Congress and federal regulators to reduce or end many of the restrictions placed on the industry after it gorged itself on the U.S. economy and left the table with only...

New tactic by NAHB and NAR 2

NAHB & NAR Tactic – If They Said It, It Must Be True

New tactic by the NAR and NAHB to get appraisers to “play ball” CNN Money recently published a piece (located here) titled “Home appraisals no longer derailing sales”, a quote generically attributed to members of the National Association of Realtors (NAR). What struck me as a bit odd was the fact that just about a year ago, the NAR in conjunction with the National Association of Home Builders (NAHB) stated in another article on home sales and appraisals that roughly 1/3 of the deals placed into contract by its realtor members were failing to close due to problems getting appraisers...

A Wakeup Call for the Valuation Industry: Is anybody listening? 8

A Wakeup Call for the Valuation Industry: Is Anybody Listening?

On February 13, 2013 the National Association of Home Builders (NAHB) published a fascinating critique on the world of valuation. The document: “A Comprehensive Blueprint for Residential Appraisal Reform” should be read by every appraiser, every user and every client. NAHB is telling us our core systems are not working and to take another look at our process and procedures. Our systems are too inconsistent, too cumbersome, and NAHB is asking us to improve our efficiency which impacts their and our profitability. NAHB is asking the industry to provide them a uniform, consistent, quality product utilizing well trained staff. These exact...

NAHB Recommends Reform of Residential Appraisal System 2

NAHB Recommends Reform of Residential Appraisal System

February 20, 2013 – Serious problems in the residential appraisal process must be addressed in order to restore confidence in the residential real estate market and to establish a foundation for sustainable growth of the U.S. economy, according to a new white paper from the National Association of Home Builders (NAHB). Appraisals are regulated by the states, so standards and requirements vary greatly, resulting in a system that is inconsistent, confusing and does not serve consumers well. The white paper, “Comprehensive Blueprint for Residential Appraisal Reform,” addresses these problems. It is the work of an Appraisal Working Group formed by...

Flawed Appraisals Killing Sales 2

AI Response to NAHB on Appraisals Killing Home Sales

The Appraisal Foundation Responds to NAHB December 8 Press Release on ‘Flawed Appraisals Killing Home Sales’ December 13, 2011  – Paul Lopez – National Association of Home Builders (NAHB) Dear Mr. Lopez: We are contacting you in reference to the attached NAHB press release dated Thursday, December 8, 2011, entitled, Flawed Appraisals Killing Home Sales, Hampering Housing Recovery. As the Congressionally-authorized organization that establishes appraisal standards and appraiser qualifications in the United States, we feel compelled to address  aspects  of the press release we feel need clarification. The  press  release  quotes  NAHB  Chairman  Bob  Nielsen  as  stating,  “The  inappropriate  use ...

Builders Advised Not to Hold Back From Giving Relevant Information to Appraisers 1

Builders Advised Not to Hold Back From Giving Relevant Information to Appraisers

Guidelines to help builders communicate with appraisers… November 7, 2011 – NAHB has developed a set of guidelines to help builders communicate with appraisers and lenders to ensure that they receive an accurate valuation of the new homes they are selling. The two-page document advises builders to meet with the appraiser on the site of where the home has been or will be built and provide direct support for the price with whatever relevant information they can. For example, builders should provide the appraiser with all appropriate comps, market and absorption data, specifications of the property, materials in the property...

xml sitemap