Tagged: video

Sales Comparison Approach is Racist, as per Academics 26

Sales Comparison Approach is Racist

“…the modern appraisal industry perpetuates racial inequality through its continued use of the “sales comparison approach”… the sales comparison approach persists as the dominant method of assessing home value… the sales comparison approach — the most used method for contemporary residential appraisals — perpetuates inequities through maintaining historical hierarchies and current racialized definitions of comparability…” Appraisers, here’s a YouTube video that you MUST view. This person’s, Dr. Elizabeth Korver-Glenn, PhD, work is one of the key reasons why there is so much chatter about racist appraisers in the US. Her discussion of her book ‘Race Brokers‘ begins at the 8:30...

ANSI Measuring Standard Required by FNMA 804

ANSI Measuring Standard Required in 2022

On December 15, 2021, Fannie Mae announced that it will be adopting ANSI Measuring Standard in 2022. Appraisers will be required to use the Square Footage-Method for Calculating: ANSI® Z765-2021 (American National Standards Institute®) Measuring Standard for measuring, calculating, and reporting gross living area (GLA) and non-GLA areas of subject properties for appraisals requiring interior and exterior inspections with effective dates of April 1, 2022 or later for loans sold to Fannie Mae. For more information, watch this video and check out this fact sheet.   Here are some items for appraisers to consider when using the ANSI standard Measurements...

Vaccines Mandate for Realtors? 20

Vaccines Mandate for Realtors?

 Brian Stevens of NREP discusses vaccines mandates in a video blog and whether real estate companies have the right to mandate vaccinations for agents who see see themselves as independent contractors. The video got a fair amount of attention. A good deal of comments were unfavorable to the vaccines mandate. COVID, our current seven day average right now with COVID cases is 145,724 cases with 36,953 cases on September 12 alone. These numbers are about half of the COVID high back in January 9 which was 253,946 cases… Here is the thing, RedFin, Warburg Realty, Remax and Coldwell Banker Bain,...

COVID-19 Legal & Risk Issues for Appraisers - Appraisers Blogs 5

COVID-19 Legal & Risk Issues for Appraisers

Free video webinar: “Legal and Risk Issues 2.0 for Real Estate Appraisers Stemming from the COVID-19 Crisis.” Scheduled for April 10, 2020 at 9:30 a.m. Pacific. For those who cannot watch live, a video recording and the presentation materials will be made available here shortly after the webinar. In this second Valuation Legal webinar for appraisers relating to COVID-19, I will be joined by attorney Claudia Gaglione of Gaglione, Dolan & Kaplan LLP. She is the national claims counsel for the appraiser professional liability insurance program managed by LIA Administrators & Insurance Services. We have worked together on appraiser liability...

Major Threat to Real Estate Agents on Horizon - Appraisers Blogs 6

Major Threat to Real Estate Agents

Appraisers, in case you are not aware, NINE law firms have begun the process to sue real estate agents and brokers across the US about how the commission process works to compensate the SELLING broker. It is believed that three of the best known internet based property purchasing and selling web sites are behind this effort. It’s being done so that they can build their own businesses, while jeopardizing the livelihood of real estate agents and brokers. The suits allege that there is collusion and racketeering among the real estate participants to ‘bake in’ a set commission for the selling agent...

What Are You Waiting For? Only 179 Comments...Please Comment Now! 13

What Are You Waiting For?

Please comment now! VaCAP sent out a “Call to Action” a month ago to comment on the proposed increase in the appraisal threshold to $400,000. As of this writing, only 179 comments have been received. This is our future, please comment now! Comments must be received by February 5, 2019. The proposed rule would increase the threshold level at or below which appraisals would not be required for residential real estate-related transactions from $250,000 to $400,000.Consistent with the requirement for other transactions that fall below applicable thresholds, regulated institutions would be required to obtain an evaluation of the real property...

Statistics of Growth & Income : Appraisal Profession to Grow! - Appraisers Blogs 7

Appraisal Profession to Grow!

According to the Bureau of Labor Statistics, the Appraisal Profession is expected to grow 14% by 2026 Quick Facts: Appraisers and Assessors of Real Estate 2017 Median Pay $54,010 per year $25.97 per hour Typical Entry-Level Education Bachelor’s degree Work Experience in a Related Occupation Long-term on-the-job training Number of Jobs, 2016 80,800 Job Outlook, 2016-26 14% (Faster than average) Employment Change, 2016-26 11,700 Even the Bureau of Labor Statistics understands the importance of the appraiser visiting the property: Although appraisers and assessors of real estate work in offices, they often spend a large part of their day visiting properties....

AMC Registration Act, Hybrids Take Another Hit, & Appraiser Liability Webinar 13

Hybrids Take Another Hit

Registration Act, reinserts the definition of “appraisal firm”… Bifurcated (Hybrid) Appraisals Take Another Hit Last week VaCAP shared some information questioning the legality of these products in Virginia. This week Phil Crawford, Voice of Appraisal, talks about the ethical side of them and how appraisers completing these could be on the receiving end of legal actions. Listen to show E206 at Voice of Appraisal NAR Appraiser Liability Webinar On July 17, 2018, the National Association of Realtors along with Peter Christensen from LIA, presented a Webinar on liability issues for appraisers. A strong concern about the certifications exists that open up liability...

Mortgage Fraud, Alert - Appraisal Waivers & Hybrids' Liability Discussions 4

Mortgage Fraud on the Rise

Mortgage Fraud is on the rise. Fannie Mae has released a warning for California, but this could be happening anywhere. The National Real Estate Post (Frank Garay and Brian Stevens) have a short 6 minute video titled “Red Flag Fraud Warning from Fannie Mae” about the warning. Also on the video, markets with declining values have been discovered. Here in Virginia, appraisers have also noted some areas have taken a down turn over the past 4-6 months. Our purpose of sharing this with everyone is not to spread doom and gloom, but to remind each of us to really take...

An Appraisal Profession Tsunami is Coming 16

An Appraisal Profession Tsunami is Coming

TSUNAMI! Before the Internet and YouTube, most of us read about or saw a few pictures of Tsunami’s in books. Reading about a tsunami though, will never be the same as actually being in a tsunami, or seeing a video of a tsunami. A YouTube video of the Japanese tsunami of 2011 truly captures what a tsunami is, and how destructive it can be. If you have never seen that video, take a look at it below. People die in tsunamis. Tsunami death pictures can be found all over the internet. But who were those people and why did they...

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