Tagged: video

Why is Only One Side of the Racism Claim Appraisal Story Being Told? 261

Why is Only One Side of This Story Being Told?

There are always two sides to every story; however, understanding is a three-edged sword: your side, their side, and the truth in the middle. Recently there has been a wave of news stories about racism in the appraisal profession brought on by a couple in Jacksonville, Florida. That couple, Abena Horton, a black woman, and her husband Alex Horton, a white male, made claims that an appraiser who first appraised their home came in low on the appraisal due to her race. You can read one of the numerous stories here. Before anyone here accuses me of being racist etc.,...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations / Appraisers News

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...

Appraisal / Appraisal News / Appraisers News / Video

COVID-19 Pandemic and Exterior Appraisals - Appraisers Blogs 64

COVID-19 Pandemic & Exterior Appraisals

Everyone, not just appraisers is getting bombarded with information on COVID-19. So much of the information differs, it is hard to know what is real, hype or hysteria. So much has been shared within the appraisal groups on social media that there are more conversations about COVID-19 then appraisals. VaCAP is a volunteer organization of appraiser professionals. We are not medical professionals and are just as confused as most of you. Each and every one of us is different. We have different levels of health and different people living in our homes; some may have compromised immune systems, some maybe...

Appraisal / Appraisal News / Appraisal Organizations / Appraisers News / Trending / VaCAP

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...

Appraisal / Appraisal News / Appraisers News / NAR / National Association of Realtors

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...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations / Appraisers News

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....

Appraisal / Appraisal News / Appraisers News / Video

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...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations / Appraisers News

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...

Appraisal / Appraisal News / Appraisal Organizations / Appraisers News / Fannie Mae - Freddie Mac / The Appraisal Foundation

Request for Appraisal Waivers If Granted Will Erode Public Trust 68

Appraisal Waivers vs. Public Trust

If the ASC grants the request for appraisal waivers, the precedent will have been set for other banks to follow… TriStar Bank has requested appraisal waivers for the entire year of 2018. According to the bank, they are having difficulty getting appraisals in the Nashville area and there is only one Certified General Appraiser in the the locality in which they are headquartered. Below is an excerpt form their letter to the ASC. They offer options in lieu of appraisals: Obtain an estimated value from a Realtor, selected from a small group of trusted Realtors who are not involved in...

Appraisal / Appraisal News / Appraisal Organizations / Appraisal Subcommittee / Appraisers News / ASC

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,...

AI / AMC / Appraisal / Appraisal Institute / Appraisal Management Companies / Appraisal News

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