Editor’s note: Determining what is or is not a “stable” market in these turbulent times is confusing for some. Appraisers report having appraisals rejected because the “Declining Market” box is checked on the Fannie Form. Others say they would be admonished for not indicating a declining condition. As always, the best advice is to be...…
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How Lenders Think By Calvin Moye, SRA, GRI This is first in a series of questions and answers from Calvin Moye, SRA, GRI. The questions in this series come from bankers and examiners seeking Mr. Moye’s expert advice. Moye, an expert in banking practices, explains the importance of the information this way: “Many residential appraisers...…
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Editor’s Note: Appraisers must watch for signs to try to understand market changes. Most are economically fueled, but other factors, such as the desire of families to move away, might be part of the changes as well. Many of the potential signs and factors are covered in this story by Beverly Bayer. Appraising a Deteriorating...…
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Appraising Golf Course Properties Steven R. Smith, MSREA, MAI, SRA We have a high-end appraisal of a home on a golf course to do. There are some things I have learned over the years that I can share with those who are interested in the nuances of determining locational values of golf course properties. Much...…
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Clarifying Copyright (by Someone Who Knows) by Tim Vining, MAI As the appraiser who brought suit in federal court for copyright, I wish to address and clarify some comments made in writing in other appraisal industry publications. Whether you realize it or not, once pen is put to paper the author has copyright protection. In...…
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Editor’s Note: Appraiser Pat Butler shares little-known but common measuring mistakes, reveals why two competent appraisers might produce varying sketch measurements and provides the best ways to reconcile the differences. Everything You Don’t Know about Measuring (Really) By Patrick J. Butler An important part of the appraisal review process performed by relocation companies and others...…
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Editor’s Note: We found the following quote among many similar comments online over the summer: “I took the seven-hour USPAP class to update myself on the new changes to USPAP. Most of the class left confused and unclear with regard to some of the changes.” (Appraiser wishes to remain anonymous.) The following is excerpted from...…
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Editor’s Note: July 1, 2006 the new USPAP takes effect. By all accounts the changes are some of the most significant ever as well as some of the most welcome. USPAP instructor and author Lee Hess takes you through a series of common questions and answers to help you shorten the learning curve and keep…
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Editor’s Note: If you wonder what it takes to be a great mentor, Karen Oberman, SRA and Alan Hummel, SRA provide the following roadmap. If you are a young (or not so young) appraiser looking to improve, let the following serve more as a treasure map for a bright and successful future. Appraiser Treasure Map:...…
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Editor’s Note: At a recent conference, Fannie Mae’s Mark Simpson, Director Property Standards, Single-Family Credit, shared how insurance industry changes offer appraisers a new opportunity to provide lenders with an additional service: replacement cost data. The data is used to determine an appropriate level of hazard insurance for Fannie loans. Fannie requires hazard insurance that…
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