In this period of economic and social change, clients are looking for professional appraisers to answer questions that until now have not been asked. Price and timing are the hot-button issues. While many appraisers are raging against the downward pressure on fees and the increased pressure for faster turn times, I have instead begun…
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Expectations have changed considerably over the past few years. An appraiser who was considered to be the best and at the top of their game a few years ago can find themselves lost and confused in today’s market. Clients want more information and they want it in less time and sometimes for less money. Learning…
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When it comes to fair fees, if you’re waiting for government help, you may be waiting a long time. The issue over customary and reasonable fees (CRF) for appraisers under Dodd-Frank is far from settled. For now, when it comes to earning fair fees, you may be your own best friend.
As most know by now,…
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Whether testifying as an expert witness on someone’s behalf or in defense of your own appraisal before a state licensing board or judge, your keys for success are the same.
Depositions
Testimony in a deposition is recorded by a court reporter and is part of the official transcript. It is, therefore, as important as testimony at trial.…
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Congress, recognizing that quality reports are dependent on paying appraisers “fairly,” wrote a customary and reasonable fee provision into Dodd-Frank, and going further, stipulated that any independent studies to determine such fees should specifically not take into consideration fees paid by appraisal management companies (AMCs), suggesting their acknowledgment that AMC fees are artificially low.
The Interim…
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Like most real estate appraisal boards, Florida’s Board publishes an annual summary of the cases it finalizes against its appraisers. Florida’s Real Estate Appraisal Board (FREAB) does not intend these summaries to be lengthy analyses of “what went wrong” or something law students might study for insight. They are merely summaries of the charges the…
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While many appraisers are still struggling along doing appraisals for lenders and AMCs, some are branching out into other areas within the appraisal field, such as reviewing appraisals for lenders and appraising for estate purposes and divorces. Notably, one area that has not been widely explored is forensic appraisal, i.e. providing attorneys expert appraisal advice…
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I was reading the Working RE survey results and have a few thoughts outside of the survey questions. The story states that many appraisers have gotten out of the profession due to lack of business. I'm curious why they have a lack of business.
I'm currently a Certified Residential Appraiser. I've been doing appraisal work for…
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State Watch: Regulating AMCs By Mike Antoniak When the Home Valuation Code of Conduct (HVCC) became law May 1, 2009 it had unintended but far-reaching consequences for professional appraisers. “The HVCC, and its perceived need for financial institutions to separate the origination and the appraisal ordering function to preserve appraiser independence, resulted in an explosion...…
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Trying to catch the ear of your state legislators? Consider joining a coalition of like-minded appraisers if your state has one; if none exists, start talking up the idea and get things rolling to launch a statewide coalition.
“There’s strength in numbers,” observes residential appraiser Michael Brunson, president of the Coalition of Appraisers in Nevada (CAN)…
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