Customary and Reasonable: Measuring the New Normal:
Can you provide the same survey for the Home Inspection Industry who your publication talks to as well?
Source: Working RE Magazine
Jim Amorin, MAI, SRA, AI-GRS, of Austin, Texas, will begin his one-year term as president of the Appraisal Institute on Jan. 1. The Appraisal Institute is the nation’s largest professional association of real estate appraisers with nearly 20,000 professionals in almost 60 countries.
Source: Appraisal Institute
Its time the appraisers were paid a fair and reasonable fee for doing such an important and necessary part of the lending process. The AMC’s were the ones doing the price gouging when they were paying us $130 for a 1004 and now its time for some payback. They get a little taste of their own medicine. Our contribution has always been important but we haven’t had much respect or pay in recent years. In Colorado, fees have doubled in many cases and in most cases, I am getting paid whatever I ask for. Its about time.
Source: Working RE Magazine
Oh, now we are called “price gougers”. What a lot of hooey. The middleman AMC’s can’t find appraisers to work for peanuts anymore, so now we’re gougers. In my opinion we still have a lot of catching up to do. AMCs auction of every appraiser to the lowest bidder, naturally every auctioneer wants a large audience. That way prices get beaten down to poverty levels.
Source: Working RE Magazine
While many believe that “too many photos” in a report is distracting, “too few photos” in the report can expose you to calls, complaints, and lawsuits.
The post Inspector Advisor: Digital Cameras first appeared at Working RE Magazine.
Source: Working RE Magazine
OREP/Working RE is conducting a Fee Survey to update and measure the current state of fees and turn times.
The post Customary and Reasonable: Measuring the New Normal first appeared at Working RE Magazine.
Source: Working RE Magazine
Did you provide the appraiser with comparable sales that you feel are better? Perhaps there weren’t good comps. An appraisal is only as good as the comparables available
Source: Working RE Magazine
Can a broker assist an appraiser on a green home assignment and stay out of trouble? Not only is the answer yes, but if brokers want to see the value for green homes being recognized, they need to know specifically the information relevant to appraisers on assignment and how to package that information. Green features fall across a broad spectrum of qualitative and quantitative value. Brokers will learn what’s important to an appraiser against the general background of the principles and concepts of appraising, identifying green features from the marketing and appraisal perspectives. Appraisers attending this course will increase their knowledge in the quantitative aspects of green as well as benefit from the dialogue between these two professional groups.
Source: Working RE Magazine
The context and conditions of sale transactions can impact office buildings’ sale prices, according to an article published this week in The Appraisal Journal.
Source: Appraisal Institute
With any of these common errors, be careful to not simply “go through the motions,” but actually type report-specific summaries related to your opinions and conclusions.
The post Common Appraisal Errors – Part 1 first appeared at Working RE Magazine.
Source: Working RE Magazine
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