Tagged: NAR

Decisions, Decisions, Decisions…. The Balance Between Art and Science 2

Decisions, Decisions, Decisions….

Each and every day we make decisions. Sometimes we base our decisions on sound, unbiased information, other times we may base our decisions on no information what so ever and are solely based on our opinions and perception. Right or wrong, we make a decision. Appraisers utilize sound unbiased information as well as our opinions and perceptions to complete appraisals. Markets are always changing and often historical data only represents just that, historical information. Historical data does not consider what is happening currently or what has been proposed for the future; both of which play an important role in how the...

Appraisal / Appraisal News / Appraisal Organizations / Appraisers News / Fannie Mae - Freddie Mac / NAR

No Numerical Shortage of Appraisers in North Dakota - AppraisersBlogs 11

Nonexistent Shortage of Appraisers

…there is a shortage of appraisers willing to work for sub-par fees and unrealistic turn around times… The American Guild of Appraisers has already heard from many of our North Dakota and nearby states members on the above request. The most recurrent complaint is that there is no numerical shortage of appraisers in North Dakota (approximately 300+-) as well as adjacent states appraisers that regularly cross over to serve client needs there (another 30 to 40+-). What I am told is that there is a shortage of appraisers willing to work for sub-par fees and unrealistic turn around times! There...

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

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

MISMO Blueprint... The Evil Octopus - AppraisersBlogs 4

The Evil Octopus

Appraisers, it’s not paranoia when ‘the bastards’ really are out to get you (end us as a profession). …Find each octopus and how they relate to our jobs. Look at MISMO Directors list… An Open Letter to Appraisers: Residential & Commercial This started as a response to a blog post by a respected appraiser concerning the influence of AMCs. During drafting it was clear that trying to explain AMCs was only part of the bigger struggles we face today. Picture a violent “all in” three-way gang fight among Octopi. Say a dozen on each side. That’s 36 Octopi x 8 tentacles...

a la mode / AGA / AI / AMC / Appraisal / Appraisal Institute

Appraisal Simulator, Evaluations, S2155 update, & Recap of Meetings 16

Appraisal Simulator

The industry is working of an appraisal simulator… The US House of Representatives Passed S 2155 today! Section 103 allows for waivers of appraisals by licensed appraisers in certain situations. See the bill here. Other News: Last week The National Association of Realtors held their Real Property Valuation Committee meeting. We have 2 VaCAP members on this committee. Here is a brief over view of the meeting from our representative in attendance. John Brenan with the Appraisal Qualifications Board (AQB) spoke at the meeting and gave an update on the roll back of licensing requirements that went into effect May 1st....

Appraisal / Appraisal News / Appraisal Organizations / Appraisers News / AQB / NAR

Alternatives to Traditional Appraisals 5

Alternatives to Traditional Appraisals

…increasing usage of alternatives to traditional in-person appraisals for valuations in real estate transactions… A California Judge has ruled Wells Fargo must pay $97 million to mortgage employees for not paying employees for the state mandated breaks.  From the article, the Judge sided with the employees and ruled compensation for breaks should include commissions, not just an hourly rate. Just think, this is one state. Don’t most states have similar laws? $97,000,000 x 50 = $4,850,000,000 See the article here. Reminder: The National Association of Realtors, Real Property Valuation Forum presents: Rethinking Real Estate Valuation: Alternatives to Traditional Appraisals The...

Appraisal / Appraisal News / Appraisal Organizations / Appraisal Technology / Appraisers News / Automated Valuation Models

Third Party Services Prohibited - Prohibition is Back! 24

Prohibition is Back!

AMC strictly prohibits the use of third party services. A recent review of an engagement letter from a large national appraisal management company revealed something pretty peculiar… “An appraiser is prohibited from using any third party services.“ Wait, What? No third party services? I am no attorney, and certainly do not know all the aspects of law, but it seems that the definition of third party services is pretty self-explanatory. To be sure I am not mistaken; I researched the definition of third party. FreeDictionary.com: “A person who is not a party to a contract or a transaction, but has...

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

State Organizations Changing the Landscape, Appraisal House Is in Order 19

Who’s for Dinner?

State Organizations & Appraisers Helping Appraisers You may have heard the expression “if you do not have a seat at the table, you are on the menu.” VaCAP can honestly state, appraisers are not on the menu. Over the past several weeks, members of the Network (NSAO), which has now grown to 28 state organizations, have been recapping the events that transpired at the meetings in Washington D.C. last month. These meetings consisted of the FHFA meeting, the NSAO meeting, the ASC meeting, and the AARO conference. Most state organizations participated and many individual appraisers attended. The support for the appraisal...

AARO / Appraisal / Appraisal News / Appraisal Organizations / Appraisal Subcommittee / Appraisers News

Tax Reform & Appraisers Responsibility to Verify Data - AppraisersBlogs 12

It’s All About the Details…

The National Association of Realtors is encouraging all members and citizens to contact their representatives concerning tax reform. Congress is considering many tax reforms including the elimination of the mortgage interest deduction. See their website for further details on how the middle class can be impacted. Excerpt from NAR Tax Reform Call for Action: I urge you to oppose any tax reform plan that would weaken the tax incentives for owning a home, such as the mortgage interest deduction. Additionally, please do not let a tax reform plan increase taxes on middle-class homeowners through the elimination of the state and...

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

Zillow, The First "Agent Management Company" (AMC) for the Real Estate Agent 16

The First AMC for Agents

Zillow, The First "Agent Management Company" (AMC) for the Real Estate Agent Brokers and Agents, welcome to the appraisal world. Zillow is the first "Agent Management Company" (AMC) for your side of the Real Estate Industry. Yes you read that correctly. Zillow’s actions have many similarities to Appraisal Management Companies, so it is fair to say, they are the first "Agent Management Company" “Zillow is hurting the people you are licensed to protect” Doesn’t that sound very familiar to what appraisers have been saying about Appraisal Management Companies?  On the website www.stopzillow.com, Greg Hague, a Real Estate Attorney, Broker and...

AI / AMC / Appraisal / Appraisal Institute / Appraisal News / Appraisal Organizations

xml sitemap
blank