Tagged: Virginia Coalition of Appraiser Professionals

Cracking Down on Appraiser Licenses & Higher Fees 12

Cracking Down on Appraiser Licenses & Higher Fees

Now they’re saying your license has to be revoked! The Federal Government is cracking down on appraiser licenses that were issued by the states where the applicant did not meet the “new” TAF requirements. Several states have this problem. Virginia is in that mix. About nine appraiser licenses were issued that the Federal Government is now saying have to be revoked. About half of these people have reached out to me. There is not a lot I can do or VACAP can do. But the state will be addressing this issue over the next couple of board meetings. So if...

We work together and support each others initiatives 1

Let’s Work Together

We work together and support each others initiatives… Like VaCAP, other appraiser organizations are working towards the betterment of the appraisal industry and public trust. VaCAP works independently, as well as with a network of other state coalitions and other professional organizations in our industry. Many of the initiatives VaCAP supports are the same initiatives other organizations support. Although we may have different ideas on solutions, we work together and support each others initiatives as the appraisal industry and the consumer benefits. The American Society of Appraisers was represented by John Russell, Director of Government Relations, at the Customary and...

An Opportunity for More Work? 15

An Opportunity for More Work…

Work opportunity for $25… Opportunity? A member of VaCAP forwarded this email from an AMC. VaCAP wanted to share. “We have a new product which is a review of a BPO. You’ll need to log onto a site and complete a checklist. The pay is $25 per report with a 24-48 hour turn time. Most can be done in about 10-20 minutes. All work can be done from your desktop. Training will be provided. Please let us know if you are interested. At this time, we are reaching out to garner interest. We’ll let you know the next steps as...

Comments Continue to be Invited - Appraisers Call to Action 6

Should the Government Accept Appraisers’ Complaints?

If you believe the government should be accepting complaints from appraisers regarding Appraiser Independence Issues, then please send your comments Please respond to the call to action below! The IACF was developed for use by those who wish to file a formal, written complaint that an entity subject to the jurisdiction of one or more Agencies, the Board, or the NCUA has failed to comply with the appraisal independence standards or USPAP. The IACF is designed to collect information necessary for one or both of the Agencies, the Board, or the NCUA to take further action on a complaint from...

Fee schedule - Raise your fees 17

Ask & You Shall Receive – VaCAP

Smoke & Mirrors? Could it be as easy as updating your fee schedule? I got an email from an appraiser today. The only thing the email said was “Call Me 804-XXX-XXXX”. The email had a read receipt attached to it . My first thought, “What did I do now?”. With hesitation, I called the number. The appraiser said, I have to share something with you, but you have to promise not to mention my name or the AMC. I agreed. The appraiser received an order request from an AMC for a fee that was low, but not nearly the lowest...

commercial aprpaisal world 39

Commercial Fees Taking a Hit, Revision Requests & C&R Fees

Fee for commercial appraisals cut in half Metro West is an AMC entering the Virginia Commercial world. They are coming on strong as they have viable operations in other states. I heard that in the states they are presently in, the fee for a commercial appraisal has been cut in half. Like I said before, it’s only a matter of time. Will Virginia establish a C&R fee for a commercial report? Customary & Reasonable Fee Since Virginia enacted the C&R fee rule, I have gotten a lot of emails from appraisers asking when can they charge more. “When can I...

Virginia Real Estate Appraisal Board Made History 44

Virginia Real Estate Appraisal Board Made History!

On Tuesday February 23rd, The Virginia Real Estate Appraisal Board made history! The legislative code of Virginia states Licensed Appraisal Management Companies must provide customary and reasonable compensation to fee appraisers. There are two presumptions of compliance. One based on objective third party information, including fee schedules, studies and surveys prepared by independent third parties, such as government agencies, academic institutions, and private research firms. The other presumption of compliance is based on recent rates paid to a representative sample of providers of appraisal services in the geographic market of the property being appraised or fee schedules of those providers....

Where is all the mortgage work 14

Where is all the Mortgage Work?

We should be busting with mortgage work. Where is all the mortgage work? I talk to appraisers and they all ask the same question. With the looming spring market and low interest rates, we should be busting with mortgage work. But the appraisers I know tend to get a reasonable and customary fee of above $400. So is it going to the bottom third? Now don’t get me wrong; I am quoting 2 to 3 weeks due to our back log. But outside of VA’s it’s everything but first mortgage work. I am fine with it because it’s less hassle....

Mister 225 appraiser & VaCAP 27

Mr. $225 Appraiser and VaCAP

Mr. $225 Appraiser, you are a major contributor to the problem Recently VaCAP has been receiving correspondence from Virginia Appraisers complaining about low fees and AMC abuses. Comments like the “The AMC is taking more than half of my fee” and another “Why hasn’t VaCAP done something?” One of the best yet… ”When is the Customary and Reasonable Fee Committee meeting? I can’t keep accepting appraisals for $225“ This came two weeks after the Customary and Reasonable Fee Committee meeting! Well Mr. $225 Appraiser, what rock have you been under? VaCAP sends out information on a regular basis; on average...

Big data is in real estate 13

Big Data is in Real Estate

The only thing Big Data can’t do is smell. I got a call from my credit card company. Now I have been traveling a lot lately on business. Apparently, someone got my number and charged $199.53 at WalMart on Monday. I was not in WalMart, but a couple a weeks ago I bought a new TV at Sam’s Club. No question about the Sam’s Club purchase. How did they know I did not go to WalMart? I am truly amazed. The reason – BIG DATA! The banks are amassing massive amounts of data on you, me, everyone. They know more...

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