Category: Trending

What’s trending now and what was trending in the past on AppraisersBlogs – Discover and discuss developing and trending stories on the latest news, ideas and perspectives happening now in our industry

The Missing Standard - It's Time to Make a Measurement Standard Mandatory! 21

The Missing Standard

What can we do to establish a national measurement standard for appraisers? Every week I talk to appraisers in different parts of the country and the conversations are almost always the same. Square footage errors are a problem everywhere, some places worse than others. Every appraiser seems to understand the problem and many of them complain about the real estate agents, home-owners, and even underwriters who challenge them about their square footage totals. They rely on the “Official Record” they believe is listed by the local tax department. Who teaches them this stuff? How is it possible the general public...

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Solidifi Agreement

Solidifi Agreement provides little or no protection for the appraiser… Many appraisers have seen the Solidifi agreement that appraisers must agree to if they want to receive appraisal assignment from them. This 18-19 page agreement written by a lawyer which was paid by Solidifi provides lots of protection and power for Solidifi and little or no protection for the appraiser. Many of you might be on the fence, should I agree to this or should I not and know that I will lose some business. If Solidifi is your major provider of appraisal assignment they have just put you between...

TALCB States 70% of All Complaints Against Appraisers Are Unfounded 87

Frivolous Complaints Against Appraisers

TALCB noted that roughly 70% of all complaints against appraisers are unfounded… The American Guild of Appraiser recently wrote to Texas Sunset Commission expressing member concerns and suggested solutions. We urge readers to copy, paste, edit and send their own comments – even out of state appraisers. Click here to send your comments. Posted AGA comments and concerns Appraiser complaints are allowed to be filed against appraiser by third parties that are not the clients. The appraiser has no recourse to these for recouping costs of defense. Third party complaints by non clients (agents; brokers, buyers, sellers) serve only to...

Reality vs Positivity - The Appraiser's Journey: What Happens when Reality Sets in? 41

Reality vs Positivity

Read any sales training publication and you will learn about positivity and how it helps you succeed. For the most part, this is true. But what happens when reality sets in? Positivity: Many appraisers have praised the decision by Fannie Mae to eliminate the 1004MC. No question, it is a flawed form, but every software vendor allows us to complete the form with the push of a button. This can be done in most MLS systems as well. The form shows the number of sales in the past 90 days and the number of current active listings. With enough data,...

Criminal Charges Brought Against AMC Owner Brian Coester - Appraisers Blogs 29

Criminal Charges

Criminal Charges Brought Against AMC Owner VaCAP has been informed that AMC owner Brian Coester, of Coester Valuation Management Services (VMS), has new criminal charges filed against him. We have confirmed these charges through the court system public access system: Maryland Judiciary Case Search Criteria Below is a list of 19 court cases found under the name Brian Coester: Is Another Financial Scare on the Horizon? George Will, Washington Post Writers Group, has an interesting column in entitled “America is overdue for another Lehman-Like Episode”. In this article he stated that the stock market has enjoyed its longest-ever bull run. The...

Schizophrenic Adjustments - Down to Exact Dollar Amount 35

Schizophrenic Adjustments

Appraisers, I’ve written in the past about what I believe are strange ways to report adjustments in appraisals, and suggested ‘rounding’ is a perfectly acceptable way to report them. This is largely due to buyers and listing agents thinking and listing in $100 increments – not down to exact dollar amounts. During the past couple of weeks, I ‘came in contact with’ two separate appraisals done by different appraisers on totally different properties, in different market areas. What struck me was the incredibly precise adjustments made for only certain items in these reports, while the rest of adjustments were ‘rounded’ to...

The C&R Compensation Argument - Audit AMCs for C&R Payment Compliance 24

The C&R Compensation Argument

Audit amc’s for C&R payment compliance nationally… A wrongful denial of that immunity is effectively unreviewable because it subjects states and related entities to the indignity of defending sovereign action through protracted litigation. Delaying appeals or orders denying state action immunity will interfere with their regulatory freedom by distracting officials from their duties and hindering their discretionary actions. Please allow me to help with a summary of the past 10 years in the appraisal industry. Amc’s are billion dollar companies and they circumvent many long standing ethic and spirit of regulatory compliance laws in states where they operate. They shop...

Need for Speed? AMC vs Direct Lender Ordered Appraisals TATs Study 101

Need for Speed? Hybrids are NOT the Answer!

…surveys indicate that appraisals ordered directly by lenders take much less time… Dear Colleagues, There is a current narrative that appraisals take too long and cost the consumer too much! Does this sound accurate? Preliminary coalition surveys indicate that appraisals ordered directly by lenders take much less time than appraisals ordered by AMCs. Additionally, the cost of Hybrid Appraisals has been disclosed in reports as $495 being paid to the AMC. How is this a savings to the consumer? They get an inferior valuation product and pay the same price as a full appraisal. Who is truly benefiting from this scenario? Fannie...

How Many Appraisers Are in North Dakota? - Appraisal Shortage Saga Lingers 43

How Many Appraisers Are in North Dakota?

The answer is 153, who are individually licensed in North Dakota. I didn’t segregate the three different license types. This figure came from a download of the ASC appraisal registry of ND licensed appraisers, and not counting duplicate name appraisers with multiple licenses in other states. Many of these appraisers are ‘dual licensed’ in more than one state, in most cases immediately adjacent, but sometimes in states far distant from ND. What’s the population of North Dakota? According to Wikipedia: The United States Census Bureau estimates North Dakota’s population was 755,393 on July 1, 2017, a 12.3% increase since the 2010 United...

Is the Property Inspection by an Unlicensed Person Considered Assistance? 67

Is that not Significant Assistance?

Is the property inspection by an unlicensed person considered assistance? We came across an article written by fellow appraiser, George Dell. Some of you may have heard of him, read his blog, or taken one of his classes. This article “What is a Hybrid?” hits home to many of us and thought it was worthy of sharing. Those promoting hybrid appraisals have been claiming USPAP compliance. Well anyone who has ever taken a USPAP class knows no form or product is USPAP compliant. The appraiser’s actions are what make a report USPAP compliant. In George’s article he points out the discrepancies...

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