Tagged: foreclosure

War on the Appraisal Industry. Another Great Real Estate Depression 11

The Collective Rot

Over 11,000 appraisers signed that petition… The US Congress completely ignored it and, as a result, The Great Real Estate Depression followed. Déjà vu: Or is it Déjà Poo (I’ve heard this crap before)? The Collective Rot Growing Within the Shadows of the Great Real Estate Depression We are just 11 years past the beginning of the Great Recession. Some estimate the US suffered a $14 trillion loss in wealth. Others estimated the loss as high as $21 trillion. This event is more commonly referred to as The Great Real Estate Depression by those of us who are or were in the real estate industry...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisers News / Automated Valuation Models

White Swan Predicts that the Next Recession Is Inevitable 10

The Black Swan – Another Meltdown

Another Meltdown – The Inevitable Outcome of a White Swan: Why would we allow another Financial Meltdown to occur? …When revenues and profits decline, lenders and financial institutions throw caution to the wind and relax their once prudent lending policies in favor of more aggressive, inclusive policies… Hindsight has taught us that there is no serious consequence to imprudent lending policies. Perhaps a multi million dollar fine is assessed but that is just the small cost of doing business for some violators… Though more common now, especially in Australia, Europe, and  Asia, black swans (Cygnus atratus) were once thought to...

Appraisal / Appraisal News / Appraisers News / Automated Valuation Models / AVM

Appraisers Wronged Again & Defrauded by Clarocity Now Called Zaio 10

Clarocity Now Called Zaio Rips Off Appraisers

Clarocity changed back to Zaio…screwing over every outstanding appraiser payment… Last week VaCAP shared information on Clarocity Corporation and how the main investor StableView Assets was seizing the shares and foreclosing on the working assets, which includes Clarocity Valuation Services. StableView in turn had an agreement to sell Clarocity Valuation Services to iLOOKABOUT. We warned to proceed with caution or do not proceed at all. We described the situation as a “soap opera.” We continue to monitor them and have learned many things. We debated on sharing this information with everyone, however we feel obligated to keep our members informed. First of concern...

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations / Appraisal Subcommittee

Appraisers Disappointed at Federal Banking Agencies - Appraisers Blogs 21

Appraisers Disappointed at Federal Agencies

I’ve read a number of posts where appraisers are disappointed at federal banking agencies declining to hold public hearings on the topic of raising the appraisal minimum threshold for residential real estate transactions from $250,000 to $400,000. The request for a public hearing on the issue was ‘worth a shot’ but was never a realistic expectation. We knew that when we joined with others in signing the letter. Federal rulemaking agencies already have policies and procedures in place for mandatory public input. It’s unrealistic to expect them to make special exceptions. Especially when existing lobbyists that promoted the short-sighted policy...

AGA / AI / American Society of Appraisers / Appraisal / Appraisal Institute / Appraisal News

Fake Foreclosures Listed on Zillow - StopZillow - AppraisersBlogs 14

Zillow Fake Floreclosures

Zillow Lists "Fake Foreclosures"… We have all heard the term "Fake News" by now… We now have "Fake Foreclosures" According to a local TV station in the Grand Rapids Michigan area, Zillow is falsely posting homes were foreclosed on, when they were not. Are these posting an honest mistake? Or are they a planned maneuver to overtake the Real Estate Industry. Regardless of the answer, the owners of the property have been harmed and Zillow should be held accountable. See the story here or watch Target 8 investigation below. In Virginia, foreclosure and title transfers are public record. This information is available...

Appraisal / Appraisal News / Appraisal Organizations / Appraisers News / VaCAP / Virginia Coalition of Appraiser Professionals

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

Appraisers - The Reason You Have No Business Functional Obsolescence - Imagecredit Flickr - Howard Lake 16

Appraisers – The Reason You Have No Business: Functional Obsolescence

Functional obsolescence is the reason many appraisers are going out of business. On a daily basis, appraisers moan: “It’s because of the HVCC that my business is down” or “that AMC or X or Y or Z caused my income to decline.” Really? Are you sure? So, why is my company buried in business and you’re not? We’ve all heard about blacksmiths being out of work; Seems the use of horses has declined. And the need for typewriter repairmen, the demand just isn’t what it was 20 years ago. The people in these jobs failed to adapt; Maybe appraiser are having the same problem....

AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Software / Appraisers News

National Data Collective - NDC Shift a la mode 4

National Data Collective Launches “Shift”

National Data Collective Launches “Shift” an Exclusive a la mode TOTAL Integration Tool February 2, 2015 San Diego, CA — Today, NDC (National Data Collective), a leading national provider of property data for real estate professionals, has released a new and improved export tool for a la mode customers only called Shift. Shift allows NDC users to export NDC’s highly-rated collective property data directly into a la mode’s industry leading form filling software with just a push of a button. The tool is compatible with the legacy WinTOTAL system, TOTAL 2013, and the upcoming release of the next-generation TOTAL Titan....

a la mode / AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Software

FNMA Big Data to Check Appraisals 2

Data Services to Appraisers

a la mode and National Data Collective Form Partnership to Offer Real Estate Data Services to Appraisers November 10, 2014 — Naples, FL — a la mode announced today that NDC (National Data Collective), a leading national provider of property data services for real estate professionals, has agreed to integrate its data services with a la mode’s full range of appraisal formfilling systems. NDC offers a subscription-based data service to appraisers covering more than 130 million properties in all 50 states, with full property profiles, assessor records, deed history and comparables data. Its products are available on desktop and mobile...

a la mode / AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Software

10

Drive By Comp Pictures and Appraisers Safety

Rethinking Drive By Comp Pictures I posted the following true (and scary) experience on Facebook a few days ago: “I just had to file a police report. I was taking a picture of a house from the street for a drive-by pre-foreclosure. The owner ran out of the home and stood in front of my car. He demanded to know what I was doing. He walked around to the driver’s window, and I calmly explained to him that I was taking a picture for the bank. He got very verbally abusive and demanded to know why. I told him it was...

Appraisal / Appraisal News / Appraisal Technology / Appraisers News

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