Tagged: valuation

Do You Have Two Appraiser Brains? Which Brain Wins? 12

Do You Have Two Appraiser Brains?

So, do you have two brains? One appraiser brain says you must be “independent, impartial, and objective.” (USPAP) It wants to be good. It wants integrity and to sleep peacefully at night. But there’s another brain. It’s primal and wants to survive. It has other responsibilities: meet the bills, feed the family, pay the mortgage, and pay government taxes/fees. And recorded in this brain is that part of the standards which say: Do what your clients expect; do what everyone else does. As paraphrased, the sole guides to an acceptable scope of work. The two brains may not talk to each other. Each...

Appraisal / Appraisal News / Appraisers News / Uniform Standards of Professional Appraisal Practice / USPAP

Size vs. Value - Finaly...The Truth About Price per Sq.ft. in Valuations 13

Truth About Price per Sq.ft. in Valuations

…has nothing to do with size… This article from realtor.com titled ‘Forget Price Per Square Foot: The More Accurate Ways to Determine Your Home’s Value’ explains why price per square foot is not a good gauge of value. Excerpt: A home’s price per square foot is a common way to quantify its value… Many home shoppers even use it as a determinant for whether or not they’ll even consider touring a home. But that doesn’t mean it’s the most accurate, end-all and be-all way to gauge a home’s value and compare it with other houses. Why? Because all homes are...

Appraisal / Appraisal News / Appraisers News

Criminal Charges Brought Against AMC Owner Brian Coester - Appraisers Blogs 33

Criminal Charges

Criminal Charges Brought Against AMC Owner VaCAP has been informed that AMC owner Brian Coester, of Coester Valuation Management Services (VMS), has new criminal charges filed against him. We have confirmed these charges through the court system public access system: Maryland Judiciary Case Search Criteria Below is a list of 19 court cases found under the name Brian Coester: Is Another Financial Scare on the Horizon? George Will, Washington Post Writers Group, has an interesting column in entitled “America is overdue for another Lehman-Like Episode”. In this article he stated that the stock market has enjoyed its longest-ever bull run. The...

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

Need for Speed? AMC vs Direct Lender Ordered Appraisals TATs Study 104

Need for Speed? Hybrids are NOT the Answer!

…surveys indicate that appraisals ordered directly by lenders take much less time… Dear Colleagues, There is a current narrative that appraisals take too long and cost the consumer too much! Does this sound accurate? Preliminary coalition surveys indicate that appraisals ordered directly by lenders take much less time than appraisals ordered by AMCs. Additionally, the cost of Hybrid Appraisals has been disclosed in reports as $495 being paid to the AMC. How is this a savings to the consumer? They get an inferior valuation product and pay the same price as a full appraisal. Who is truly benefiting from this scenario? Fannie...

1004MC / AMC / Appraisal / Appraisal Management Companies / Appraisal News / Appraisal Organizations

Limbo Anyone? How Low Will Clarocity Stock Go? 16

Limbo Anyone? How Low Will it Go?

No, I am not really going to talk about a Limbo game. I am referring to the stock of a company promoting hybrid appraisals across the country. Representatives of this company are at every industry meeting, promoting their products, often times invited to speak. You are probably sick of hearing about hybrid appraisals by now and honestly, so am I. So I will keep any verbiage about hybrids in the context of reference only and try not to bash them too much. If you are regular reader of Appraisersblogs, you probably have seen many articles about Clarocity Corporation. A quick...

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

AMROCK Valuations New Service Seems to Seek Circumvention of USPAP! 14

Can you say ‘L-A-W-S-U-I-T’ boys and girls?

Fellow appraisers I strongly discourage anyone from accepting AMROCK Valuations work generally due to their poor track record in dealing with appraisers across the country; and their apparent habit of making up their own appraisal rules as they go along without regard to C&R fees; Dodd Frank and most other common sense sound appraisal practices up to and including USPAP. Y’all remember USPAP don’t you? A series of uniform rules we’d all follow to promote, preserve and protect the American real estate appraisal profession and the American Public. That is until it became an inconvenient impediment to MISMO; FNMA and...

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

Reconciliation, Painting a Picture of the Problem & the Solution with Words 9

Paint a Picture with Words

The reconciliation is precisely the place we want to avoid any boilerplate… A common complaint among couples is a lack of communication. “He should have known I wanted that bracelet for my birthday” “She should have known I wanted to have sushi for dinner” “She should be more considerate of my feelings”, etc. How are we supposed to know these things? Are we mind-readers? It would be much easier if we would somehow communicate our wishes with our partners, without having to come right out and say something, but at the same time, it takes away from the spontaneity of...

Appraisal / Appraisal News / Appraisers News

A Rebuttal to Real Estate Agent's Article Slamming the Appraisal Industry 46

Slamming the Appraisal Industry

A Rebuttal to Real Estate Agent Slamming the Appraisal Industry… Forbes recently published an opinion article that attacked the appraisal industry and placed all the blame on appraisers for real estate transactions falling through due to a “low” opinion of value. The article was written by a real estate agent out of Arizona. While he raises some good points, he is conflating a lot of issues together. 1) He does point out that there are bad appraisals. We all know that. There are bad appraisers just like there are bad agents who have clients list a property far above any...

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

MISMO Blueprint... The Evil Octopus - AppraisersBlogs 5

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

Fannie Mae Invites VaCAP for a Sit-Down Discussion of Relevant Topics 9

VaCAP Sits Down with Fannie Mae

As many of you know Fannie Mae (along with Freddie Mac) has launched an initiative which they label “modernizing appraisals”. This initiative consists of two distinct facets: 1) “modernizing”, or redesigning the forms which are utilized and 2) “modernizing” the processes involved in producing a valuation including the inspection process, data collection, etc., up to the delivery of the completed report. In the pursuit of this goal Fannie Mae has pledged to leverage stakeholder input, and of course appraiser input is both valuable and critical in this regard. In gathering stakeholder input Fannie Mae reached out to VaCAP, and invited...

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

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