Appraiser Cleans House By Christie M. Bond I own and operate a two-appraiser firm in a small, under-served town in West Michigan. I have worked very hard to build a good reputation for my firm and myself. Fed up, burned out and tired of the day-to-day struggle to maintain that reputation and keep a steady cash flow, I have decided to take drastic measures with my current and future clients…. I fired them all. After six years in...…
Read More
Appraising Disasters: When the Levee Breaks Part II: Real Work Begins By David Phillips, SRA As the date for the inspections drew closer, we enlisted the help of the Village Clerk. She was an invaluable partner in the process because she had addresses and phone numbers for most residents. After the flood, many residents went...…
Read More
Editor’s Note: The following is excerpted from a freewheeling online discussion among appraisers about AVMs. It makes for interesting reading: if you want to know about something – ask an expert. AVMs: Ask an Expert(s) Just what is “Value” Anyway? – Since accuracy is determined by sale price, how can an AVM not be the...…
Read More
The Apprentice: Trainees Gone Wild? Just like the popular television show staring Donald Trump and a band of would-be executives, the reality of training appraisal apprentices these days involves more drama than you might expect. Recent legislation in Florida, a decree by The Appraisal Foundation (TAF) and horror stories of appraisal “sweat shops” churning out...…
Read More
Fraud, AVMs and Fannie’s New Forms Report from Valuation 2003 While you were busy appraising, Valuation 2003 took place in Orlando, Fla. with many of the industry’s movers and shakers exhibiting, speaking and networking. Working RE Magazine was there too. Mark Simpson, Director of Property Valuation Standards & Practices, Single-Family Credit Administration, for Fannie Mae...…
Read More
Truth about Coming In Low By Larry Cole In my market, if an appraiser comes in below the contract price he/she has 10 times the work to defend the low value. When this happens, the appraiser is assaulted by the lender, agents and the seller. (Seldom do I hear from the buyer.) If I’m low...…
Read More
Editor’s Note: With the spate of hurricanes, floods and fires, disaster work is on the minds of many. Here is a first person account by one appraiser who spearheaded the valuation of an entire town that was swept away in a flood. Appraising Disasters: When the Levee Breaks By David Phillips, SRA Before August of...…
Read More
Editor’s Note: One in an occasional series of shared stories designed to bring a fractured and diverse appraisal community together in the pages of Working RE Magazine. Appraiser Slice of Life: Full Fees, No Bull John Hoffert and Bruce McMahon have several things in common besides their love of appraising. They don’t slash fees to...…
Read More
Why You Should Care about Appraiser Qualifications Significant Changes Proposed By George Hatch The proposed revisions to the Real Property Appraiser Qualification Criteria include significant increases in minimum education requirements and appraiser trainee supervision requirements. Some of these revisions will have long-term implications on appraisal businesses if enacted. For this reason, even established appraisers should...…
Read More
Three quarters of the way through the year, some appraisers are still unsure about how to deal with the change in reporting requirements that took effect January 1, 2003 (USPAP 2003). Some appraisers are going back three years on the subject and on the comparables; some on the subject only. What’s required? What’s prudent?
In…
Read More
