When was the last time you indicated a functional obsolescence in the cost approach? Did you also reflect it in the sales comparison approach? Would you? Should you? These are questions we rarely, if ever, consider. Perhaps we even avoid the issue when we think the house we are appraising has functional…
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S.2452 is a bill intended to “amend the Truth in Lending Act to provide protection to consumers with respect to certain high-cost loans, and for other purposes.” Among other things, it’s intended to establish a duty for mortgage brokers and lenders to consider the best interests of their clients first. Lenders will be required to…
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Editor’s Note: E.J. Frank discusses techniques to make us better business people by being happier and less stressed. Better Appraising from the Inside Out by E.J. Frank There is good news and I want to share it with you. It’s not like any of us need to be reminded of the multitude of changes from…
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Editor’s Note: This story shows how to avoid inadvertently losing your E&O insurance coverage for past work and being left unprotected, should a claim arise; the consequences to your business and personal life could be disastrous. Cutting Expenses as Business Slows Why Canceling Your E&O Can Really Cost You! by David Brauner, Editor As…
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Editor’s Note: Two blockbusters last week: The Feds released the Interim Final Rule regarding implementation of Dodd-Frank and Fannie Mae released a new Seller Guide for life after HVCC (Home Valuation Code of Conduct). In an exclusive interview with WRE, a Senior Attorney at the Board of Governors of the Federal Reserve helps shed some…
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The good news for appraisers is that the Financial Reform legislation recently signed into law puts teeth into its mandate that appraisers be paid fees that are “customary and reasonable.” Now what?
The “bite” that Congress provided is wording which states that “such fees may be established by objective third-party information, such as government agency fee…
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Question: Mr. Spool: I read your article (How to Increase Residential Appraisal Income) and it was very informative. I have been marketing to agents but your article gave me the great idea to offer free classes as another marketing tool. I was wondering if you could share information as to what your classes entail. I…
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The appraiser community is still reeling from the decision of a Florida bankruptcy judge to absolve JPMorgan Chase of all liability in the case of Evaluation Solutions/ES Appraisal Services (ESA) bankruptcy case.
Over 10,000 real estate appraisers and agent/brokers were left unpaid by ESA, an Appraisal Management Company (AMC) that procured valuation reports on behalf of…
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Editor’s Note: Marc Gottesdiener, an appraiser involved in real estate 40 years, has worked as a litigation consultant and expert witness since the early 1990s. Read his advice for expanding your practice into non-lender work as a consultant and expert witness.
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A successful merger takes time and money to put into motion. Six to 12 months is the norm. And when you start paying lawyers, accountants and facilitators, it can be quite expensive. Accordingly, there must be commitment.
The larger the number of participants, the more complicated the process becomes. You will require a good accountant, lawyer,…
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