Tagged: EAD

ClearVal Value IS So ClearCut - What IS a “ClearVal Appraisal” 162

What IS a “ClearVal Appraisal”?

Clear Capital ClearVal… Value Not So ClearCut… I’ve finally had an opportunity to read a hybrid ‘appraisal’ start to finish. All may read the unedited, non-redacted version in all its glory… or infamy, as the case may be. Please click here (report also embedded below) and read it first. I’ll wait right here. Finished? Great. One thing is clear. It is not an appraisal by any current accepted definition that I am familiar with. Ironically, there is also very little that is clear as far as support for the opined values is concerned. (I’m old fashioned and think it should...

AGA / AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations

Professionals With No Appraisal Experience Cornering The Hybrid Market 6

New Hybrid Desktop Hucksters

What could lure these successful 'professionals' from their chosen careers? Fellow appraisers, I just received an advertisement for a company that wants to pay ‘me’ $50.00 an hour to do desktop appraisals. Actually, probably not me, because they prefer a degree. Now, my routine hourly rate for complex appraisal assignments is $150 ($500 for EW and something variable in between for pretty much everything else). So they are asking me to take a cut of 2/3… assuming I could meet their degree requirement “preference”. It got me thinking. I cannot always command my hourly rate for 8 hours a day,...

AGA / AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations

AMC Business Model is Based on Lies That Hurt The Consumer 36

The Reality

There is no shortage of appraisers, only appraisers willing to work for Appraisal Management Companies, but there will be a shortage if the current toxic business climate does not change. The AMC business model is based on lies that hurt the consumer and your constituents. There are many voices that have agendas to reduce the qualifications to become a Real Estate appraiser, whether it be a Licensed Appraiser, Certified Residential Appraiser or a Certified General Appraiser. There are also voices that would like the requirements of an appraisal by a person licensed by the state to be waived as there is a...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / AppraiserLoft / Appraisers News

Senior Citizen Homeowner Rejects Hybrid Appraisal - AppraisersBlogs 27

Homeowner Rejects Hybrid Appraisal

Appraiser Alert: Don’t Mess with a 4’ 10” Senior Citizen! Last week I called a borrower to schedule the appraisal appointment. She asked me some very odd questions; “Are you a licensed appraiser? What is your license number? How can I verify this information?” Well I had never been asked any of these questions in my entire career, but I answered as there really wasn’t anything I was hiding. It was 19 degrees outside when I arrived at the property and this senior citizen, not more than 4 feet 10 inches tall, was sitting on the porch. I proceeded up the porch...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News / Trending

Alternative Valuation/Hybrid Appraisal Created by Independent Appraisers? 83

Hybrid Appraisal Created by Appraisers?

Hybrid Appraisal Created by Independent Appraisers? Hybrid appraisals/alternative valuations is the most polarizing topic in the profession these days. With AMC’s all rolling out their new alternative valuation products, wouldn’t it make sense for independent appraisers to come together and create OUR own hybrid/alternative product? This is our opportunity to compete directly with AMC’s and regain control of our profession. The blueprint for this hybrid/alternative valuation model is already in place. We just need to come together, create a better one, and market it to the same investors that are already using them. If independent appraisers got together and did...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News / Trending

Appraiserville – Fake Claim of An Appraisal Shortage 65

Appraiserville – Fake Claim of An Appraisal Shortage

Please provide feedback immediately to “two banking institutions have requested that the Appraisal Subcommittee temporarily waive the requirement for use of state licensed or certified appraisers” based on the fake claim of an appraisal shortage. I wrote about Tristar Bank in Appraiserville a few weeks ago. It is worth re-visiting since I translate the Tristar request into my interpretation of what they are really saying. It is recommended to send your responses ASAP to webmaster@asc.gov rather than to Jim Park directly although either way is fine. The Appraisal Foundation will be responding to this issue. Here is an email I just received on this issue:...

Snippets / Trending

Solidifi on Notice... AMC System Is Further Degrading Itself 62

Appraisers Pushing Back!

Solidifi has taken the disrespect to another level… Appraisers Pushing Back Against AMC Bad Behavior! Appraisers have finally had enough of bad behavior by AMCs. VaCAP received the following email from an appraiser, who by the way is not located in Virginia. VaCAP spoke to the author concerning the email and found out a few more details. First, the author does not do residential work as they are a Certified General nor do they work for AMCs and are not on any AMC roster. Somehow, this nonresidential appraiser received this email from Solidifi. VaCAP commends our colleague for stepping up...

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

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

Driver for Appraisal Inspections? Do You Need an Appraiser Driver? 9

Do You Need an Appraiser Driver?

Using a Driver for Appraisal Inspections… Anyone who’s followed me for a while knows that I have three main aims. I want to help real estate appraisers make their business more efficient, more effective, and generate more money. People almost always assume that making more money relies only on cutting costs. This is completely inaccurate. If you become more efficient and more effective, and work smarter instead of working harder, then you’ll start boosting your income. In the past, one of the ways in which I’ve made my work more efficient, and in effect spent money to make more money,...

Appraisal / Appraisal News / Appraisers News / Business Development

HUD Tag # on Manufactured Homes Missing? Solution for Appraisers 22

Missing HUD Tag # on Manufactured Homes

Sometimes NO HUD Tag number can be found… Appraisers, Regarding Manufactured Homes (MFH), sometimes NO HUD Tag number can be found on, or in, the MFH. However, this number is required to be entered on the 1004C appraisal form. Loans for MFH’s cannot be processed without these numbers. The HUD Tag is the metal plate(s) attached to the rear of each section. Numbers are usually sequential, with three letters as the prefix. Inside the home, someplace, should be a paper ‘Data Plate’ with the home serial number, HUD Tag #’s, and other data. But often the Data Plate cannot be found, and...

Appraisal / Appraisal News / Appraisers News / HUD / The US Department of Housing and Urban Development / Trending

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