Editor’s Note: In this installment of Valuation Issues and Answers, Lifflander, ASA,explains how to handle foreclosures and short sales when choosing comparables. Valuation Issues & Answers Foreclosures & Short Sales as Comps By John Lifflander, ASA Question: Please explain the difference between an actual foreclosure sale and a short sale. Should short sales be used…
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Editor’s Note: Lowering your fees may not be the best way to increase business. This story, first published in 2005 and excerpted here, explains why and is more relevant today than ever for appraisers, inspectors and anyone in business. Read the entire story at WorkingRE.com (Library, Volume 9, a subscription or OREP membership is required).…
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Fannie Mae has introduced the addendum 1004MC and is requiring its use beginning April 1, 2009 (view the form at Efanniemae.com). It is a worksheet to help appraisers perform a market conditions analysis (MCA). By the time this hits your desk you should have begun the process of becoming familiar with it. Here…
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Editor’s Note: This survey, offered by Bradford Technologies, provides insight into residential appraiser demographics. Appraiser Demographics: Who are You? By Jeff Bradford, CEO, Bradford Technologies Who are you? That’s what we wanted to know. So as appraisers signed up for our free directory listing in AppraisalWorld, we asked them to take a survey. We’d like...…
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The Market: One veteran says that in 37 years of appraising 2008 was the toughest market he’s ever seen and that 2009 could be worse. Several others, also appraising over 30 plus years of real estate cycles, agree. Their take? If you can make it in these conditions, you can make it.
Professional…
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I decided to make the switch from appraising commercial properties back to residential properties in early 2008. To many this is appraisal suicide. However, the reason is simple- my wife became a state-registered trainee a few years ago, is serious about becoming Certified and needed my mentoring.
Since her knowledge of commercial appraising is limited,…
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Now you see it, now you don’t: that’s what appraisers are saying about data that is disappearing or changing after a report leaves their desktop. Here’s what is happening and why, according to appraisers, vendors and other industry insiders.
A certified appraiser, who wishes to remain anonymous fearing blacklisting, recently contacted her errors and omissions insurance…
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Editor’s Note: There will be life after HVCC. Here, appraiser Paul Chandler, MAI, offers his insider’s view on AMCs and how to make the new changes work for you. HVCC/AMCs – Change Equals Opportunity by Paul E. Chandler, MAI The Home Valuation Code of Conduct (HVCC), effective May 1, 2009, has created uncertainty and apprehension...…
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Making money through knowledge – this is how appraiser Jeff Patterson sees his future. Patterson, in the real estate industry 30 years, is broadening his practice to include energy audits- using specific protocols to show homeowners how to save money on their energy bills and lower their carbon footprint.
Patterson sees this growing area as a…
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The good news for appraisers is that while you weather the current economy you can position yourself to be a highly qualified and credentialed “green” appraiser without significant capital or time expenditures. The result is a competitive advantage, compliance with USPAP’s Competency Rule and new sources of work.
Many of you remember the excesses that characterized…
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