volume 18

Readers Respond

Category :

WRE Issues

Readers Respond Making $300,000 a Year Appraising To complete 1,000 residential appraisals a year, that is 2.74 reports per day, 365 days a year.  It is not humanly possible for one person to inspect that number of homes per day, every day without fail and prepare a complete error-free report. There are just too many variables-… Read More

Director’s Message

Category :

WRE Issues

Director’s Message What’s Bad is Good? Echoing the story Bad News is Good News, current market troubles may have a silver lining for appraisers. Bad News talks about the flood of REO/foreclosure business appraisers are enjoying in certain markets as a result of the current real estate troubles. It explains REOs and how to find… Read More

Inspector’s E&O Insurance: Market Softens-Prices Drop

Inspector’s E&O Insurance: Market Softens- Prices Drop – $1,250! By David Brauner, Senior Broker OREP (www.orep.org) Instead of the now familiar direction to “shop ‘till you drop,” new insurance conditions suggest instead that inspectors should shop because they’ve dropped. We’re talking about rates for errors and omissions insurance of course. The market is finally softening… Read More

Carbon Monoxide: Keeping Safe

Editor’s Note: Low-level exposure to carbon monoxide can cause chronic health conditions from cardiovascular disease to an illness similar to Parkinson’s. It’s easy and inexpensive for appraisers and inspectors to stay safe in other people’s homes (and in their own). Some inspectors also include CO testing in their reports to add value to their service.… Read More

Low E&O Rates & Great Service

Low E&O Rates & Great Service…and Yes, We Answer the Phone Appraisers/Agents E&O Min. Prem. $483 Inspectors E&O Min. Prem. $1,250 Golden Rule Our mission at OREP is to be the best insurance resource for real estate professionals; to follow the Golden Rule by treating all who contact us for help as we would expect… Read More

Industry News

Category :

WRE Issues

Industry News Teach Your Clients Well At a recent industry show in Las Vegas (Valuation 2007), one speaker suggested that appraisers facing pressure may try “educating” their lender-clients about the rules, just in case they don’t know. You may be surprised by what is set in stone. One document appraisers use for this purpose is… Read More

Making the Call: Declining or Stable Market?

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...… Read More