Your Daily Dose of Real Estate News
A Competent Trainee?Current appraiser trainee requirements involve principles, practices, and standards. Unfortunately, trainees are being grounded in the old “experience” basis, instead of today’s analytics basis! USPAP Standard 1-1(a) first sentence says, “The principle of change continues to affect the manner in which appraisers perform appraisal services.” Yet appraiser-training stays stuck in outmoded ways. Recently, the same […] The post A Competent Trainee? appeared first on George Dell, SRA, MAI, ASA, CRE.
Who Needs Evidence!?We hear a lot about evidence. For valuation, there may be two relevant definitions. One would be the legal concept, the other being the “support” required to be credible, “worthy of belief.” In the law, evidence is factual information. It can be testimony, documents, physical, demonstrative, or circumstantial. Relevance can be probabilistic. Colloquially, evidence is […] The post Who Needs Evidence!? appeared first on George Dell, SRA, MAI, ASA, CRE.
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Verification, Title/DSCR, Escrow Reporting, BI Asset Products;… NewWhile Lake Powell and the Colorado River are at their lowest levels ever, and states like Minnesota, Oregon, and Washington are in a drought, would you like a short clip of what they’re experiencing in Hawai’i? So far, the North Atlantic hurricane season (June 1 to November 30) has been light, which pleases homeowners, servicers, lenders, and insurance companies. But elsewhere this year’s tornado season showed the continued trend of Tornado Alley shifting eastward and into more populated areas, with Illinois leading all states in tornado activity (220 confirmed tornadoes) and Indiana and Wisconsin also setting record high numbers. The…
The Independence Factor: Why An Appraiser Union…It comes up three or four times a year on Facebook groups and the online forums. Appraisers look at all the modernization changes, the legislative battles, and the daily frustrations with AMCs, and they ask: “Why don't we have a union? If we just had a union, we could stop this.” Look, I am boots on the ground, appraising every single day. I am in the trenches, and I am completely frustrated. We deal with AMC abuses, lender pressure, and a massive wave of industry changes. I also understand the appeal of a union. There is absolute strength in numbers,…
New Construction Appraisal Diference NewNot sure if this is the right subReddit, and I know the answer is talk to your lender. Unfortunately, the loan officer is out of office. Our new construction home was initially appraised at $1,019,000. Nothing meaningful was changed about the plans or finishes, a few things were upgraded here and there, but not noticeable or large in dollar amount (paint, grout type, etc…). The post construction appraisal (different appraiser) came in at $869,000. Two main questions, how does it happen and what is a realistic best course of action? There’s plenty of information out there on standard Home purchase…New Construction Appraisal DiferenceNot sure if this is the right subReddit, and I know the answer is talk to your lender. Unfortunately, the loan officer is out of office. Our new construction home was initially appraised at $1,019,000. Nothing meaningful was changed about the plans or finishes, a few things were upgraded here and there, but not noticeable or large in dollar amount (paint, grout type, etc…). The post construction appraisal (different appraiser) came in at $869,000. Two main questions, how does it happen and what is a realistic best course of action? There’s plenty of information out there on standard Home purchase…
