Real Estate Appraiser Tips » Appraisal Survival Skills

New WordPress Plugin Monetizes For Adsense, Clickbank, Ebay, Amazon, Overstock and CJ – All In One Monetizer!

http://realestateappraisertips.info/ — Sun, 04 Sep 2011 11:37:05 +0000

http://www.billcobbsuccess.com/ – New WordPress Plugin Monetizes For Adsense, Clickbank, Ebay, Amazon, Overstock and Commission Junction – All In One Monetizer! This latest WordPress plugin – All In One Monetizer:
It makes monetizing your WordPress blog easy by simply populating your blog with Google adsense, Clickbank, Ebay, Amazon, Overstock, CJ and Linkshare for instant commission.

Local And Mobile Marketing is Your Best Business in A Box Model For 2011!

http://realestateappraisertips.info/ — Sun, 19 Dec 2010 22:17:41 +0000

http://www.googlelocalseovideos.com/ – Local and Mobile Marketing is Your Best Business-in-A-Box Model For 2011!

Don’t Let The “Local Marketing” and “Mobile Marketing” Opportunities Pass You By!

Tags: Google Local, Google Places, Mobile Marketing, Local Markteting, Social Media Marketing

Home Appraisers: The Myth Of Geographical Competency! Why Did AMC Hire Appraiser 3 Hours Roundrip?

http://realestateappraisertips.info/ — Thu, 28 Oct 2010 17:24:45 +0000

http://www.realestateappraisertips.com/ – Home Appraisers: The Myth Of Geographical Competency! Why Did AMC Hire Appraiser 3 Hours Roundrip?

Today is October 28, 2010. I thought the lessons of HVCC and now Dodd-Frank were supposed to have made a difference! I thought “Geographical Competency” was supposed to be the new buzz word of the year 2010 and that AMC’s (Appraisal Management Companies) were supposed to be hiring appraisers closely located to subject properties, with the most experience!

GUESS AGAIN!

The map below shows the driving distance of 1.35 hours each way. Round trip, that’s over 3 hours.

I just received a phone call from a mortgage broker with some questions about an appraisal that was recently completed. It wasn’t my appraisal in question. The mortgage broker hired an AMC to procure that 3rd party appraisal. That AMC hired an appraiser located some 89 miles away or 1.35 hours one-way. From the information provided and the broker’s concern, the report failed the geographical competency issue and failed to use more recent 2010 comps located in the subject’s same development and instead used one older 2009 comp. That is an active market with ample sales and listings.

Yes, this happened in latter 2010! And, the fee was between $450 to $500 for the appraisal.

In October 2010, The Myth Of Geographical Competency lives on!

One Third of Americans Highly Unlikely to Qualify for a Mortgage Today: How Does This Impact Your Appraisal Business?

http://realestateappraisertips.info/ — Wed, 29 Sep 2010 03:34:39 +0000

http://www.realestateappraisertips.info/ – One Third of Americans Highly Unlikely to Qualify for a Mortgage Today: How Does This Impact Your Appraisal Business?

Dennis Norman At Real Estate Investors Daily is reporting a new study that says “1/3 of Americans Highly Unlikely to Qualify for a Mortgage Today” . Here’s a couple of snippets:

“According to an analysis of more than 25,000 loan quotes and purchase request by Zillow, nearly one-third of Americans are unlikely to qualify for a mortgage because their credit scores are too low.

Borrowers with credit scores under 620 who requested purchase loan quotes for 30-year fixed, conventional loans were unlikely to receive even one loan quote on Zillow Mortgage Marketplace, even if they offered a relatively high down payment of 15 to 25 percent. Nearly one-third of Americans, or 29.3 percent, has a credit score this low, according to data provided by myFICO.com.The report also showed that, not surprisingly, the lowest interest rates went to mortgage borrowers who were among the 47 percent of Americans with excellent credit scores of 720 or above. In the first half of September, borrowers with credit scores of 720 or above got an average low annual percentage rate (APR) of 4.3 percent for conventional 30-year fixed mortgages. Borrowers with mid-range credit scores between 620 and 719 received APRs between 4.73 and 4.44 percent, with the APR rising as credit score drops. Those with credit scores below 620 received too few loan quotes to calculate average low APR.”

HERE’S THE QUESTION FOR HOME APPPRAISERS! IF 1/3 OF POSSIBLE HOME BUYERS ARE REMOVED FROM THE MARKET, THEN HOW DOES THIS IMPACT YOUR APPRAISAL BUSINESS? Please leave a comment below to let us know how you’re surviving 2010!

Birmingham Appraiser Tom Horn: My First WordPress WordCamp Birmingham Experience

http://realestateappraisertips.info/ — Mon, 27 Sep 2010 04:56:50 +0000

http://www.realestateappraisertips.info/ - Birmingham Appraiser Tom Horn: My First WordPress WordCamp Birmingham Experience!

Tom Horn, SRA, Birmingham AL Appraiser, talks about his experience at the recent “WordCamp” held in Birmingham. Check out Tom’s post below! Tom has several interesting posts about the housing market he serves and I’m taking notes on the style he uses to communicate with locals.

Mobile AL Home Appraiser: A Fragile Economy With High Unemployment And Uncertainty Will Be More Of A Future Problem Than The BP Oil Spill!

http://realestateappraisertips.info/ — Mon, 30 Aug 2010 05:46:26 +0000

http://www.realestateappraisertips.info/ – Mobile AL Appraiser: A Fragile Economy With High Unemployment And Uncertainty Will Be More Of A Future Problem Than The BP Oil Spill! Al Cheney’s Comments and Opinions for 29 August 2010.

Mobile AL Home Appraiser, Al Cheney with Cheney Appraisal Services, has been hit with a double-whammy – a perpetual slowing economy and the BP Oil Spill, both meaning less appraisal work. Read Al’s entire post here: A Fragile Economy With High Unemployment And Uncertainty
Will Be More Of A Future Problem Than The BP Oil Spill. I have provided a few snippets below.

“As a local, born and raised in the Mobile Bay Metro Area, I am sincerely happy that the bubbling crude has finally been capped after 90 days-after 90 days! It is worth repeating since this horrific ecological and environmental disaster should have never lasted this long if it wasn’t for the many faux pas by BP Oil and our own government. They say, the majority of the surface oil has dissipated and now can’t be found. Oh, really? The “on the surface” crude problem is only hiding in the depths of the sea-harming crustaceans, oysters and other seafood for years to come.

And, yes! I do realize that biological organisms will thrive on the raw crude and eventually remove it as a major threat but, this will take a very long time. The damage has already been done and its true damage is still hidden in the depths of the sea. Enormous amounts of crude, damaging dispersants, oil soaked wetlands and sea bottoms are here to stay for decades. A possible ecological disaster lurks beneath the sea and within the wetlands for years to come.”

“The fact is that, a fragile economy and a weakened real estate industry have been further exacerbated by the crude ecological and environmental disaster, and the crude politics of Washington. And, our tourism for this year has been damaged by irresponsible journalism media. Even so, the coastline of the Gulf States and its real estate will overcome this adversity and will eventually be less affected by the BP oil spill and the many missteps of Washington. The media needs to practice more responsible journalism and avoid the traps of sensationalism. Sensationalism is not journalism!”

“The fragile economy with high unemployment (9.5% but does not include the people who have given up) and uncertainty will be much more of a future problem for Gulf Coast property values than the BP oil spill. As time leads us into the end of 2010 and into the beginning of 2011, an even more fragile economy and real estate industry might be the result when continuing to implement recessive programs and tactics by the government while banks, entrepreneurs and small businesses mostly sit on the sidelines, “digging in their heels” or “going out of business” sales. Only deregulation and lowering taxes, the cessation of large government spending, small business incentives (get the oil riggers, shrimpers and other parts of the Gulf Coast seafood industry back to work) as well as “just plain honest positive talk” from the current Administration and our government representatives (most of them forget that they work for us) will improve the real estate industry-part of the backbone of America!”

Click Here To Learn More About Al Cheney and Cheney Appraisal Services!

Home Appraisers: Is There A Sense Of Urgency To Buy A Home?

http://realestateappraisertips.info/ — Fri, 27 Aug 2010 10:51:39 +0000

http://www.realestateappraisertips.info/ - Home Appraisers: Is There A Sense Of Urgency To Buy A Home?

Home Appraisers: Did You Know That In July 2010 Only 17.6% Of All New Loans Are For Home Purchases? National Mortgage News and the Mortgage Bankers Association are reporting that purchase money loans now account for just 17.6% of all new loan applications. Think about this….only 17.6% of new home loan applications are to actually buy a home!

Also, new home sales fell another 12.4% in July 2010.

Click the banner above for the link to this news.

The Keeping Current Matters Blog Answers This Question Today With Their New Article, “Sense Of Urgency?”! Click the link to read the entire article, snippets are provided below.

“It’s been hard to fault home buyers who haven’t rushed to buy a home, now that there is no longer any Federal Tax Credit. I mean, if you read this blog with any consistency, we all know that home prices are going to continue to tumble, and there is no indication of interest rates climbing anytime soon; so, who can criticize a home buyer (or any buyer of anything for that matter) for not buying when they can get it cheaper by waiting. And when you add in the flood of inventory looming, there also means that there is a greater selection to be had by waiting.”

And, “Today, I need to remind you of two compelling reasons why waiting could be hazardous for those who expect to utilize the FHA loan programs for their purchase.

1. The change in the FHA insurance Premiums

The lessening of the Upfront Mortgage Insurance Premium to offset the increasing Monthly Insurance Premium has a direct impact on the loan amount a given applicant can qualify for. In most cases, buyers/borrowers will have their buying power reduced 4%—-IF RATES STAY RIGHT WHERE THEY ARE.

2. There is a likely-to-be-approved proposal which would limit the allowable Sales Concession on an FHA transaction to 3%. (And, in this editor’s opinion, this is long overdue and a good thing for taxpayers on the hook for FHA commitments!)

Today, sellers can pay up to 6% of a buyer’s closing costs (including discount points) and pre-paid expenses (like real estate tax escrows and homeowner’s insurance). In some transactions, it requires a buyer to accumulate an additional 3% of the sales price of a home to have sufficient funds to close.”

“When you combine the impact of a higher monthly payment (resulting from a higher Monthly Mortgage Insurance Premium) and a higher need for cash accumulation (because of a reduced sales concession), why wait? Buyers – get off your couch and get serious about acting sooner than later! Sellers – price your homes at a compelling number, as to not miss any opportunity to attract a qualified, motivated buyer. There are valid reasons for a “sense of urgency”…..don’t be lulled into thinking you have all the time in the world.”

Dave Towne: Another Nationwide Appraiser Fee Survey

http://realestateappraisertips.info/ — Wed, 25 Aug 2010 12:45:21 +0000

http://www.realestateappraisertips.info/ – Dave Towne: Another Nationwide Appraiser Fee Survey

Appraisers………..

An appraiser in Pennsylvania sent me this link to another nationwide appraiser fee survey……actually it’s within the typical mortgage closing costs for each state, provided by BankRate.com.

http://www.bankrate.com/finance/mortgages/2010-closing-costs/united-states-closing-costs-map.aspx

This survey will show the ‘average’ appraisal cost for each state. Click the link above, then click your state. Scroll down the list of charges to find the Third Party fees, including appraisals.

This is the second currently available complete independent nationwide survey which appraisers can use to set Customary and Reasonable fees for their own area. Both are based on many thousands of reports already submitted.

The other national survey is the alamode Mercury Network Appraisal Fee Reference, which breaks out ‘median’ fees by every county in the US. Find it at: http://www.mercuryvmp.com/analytics/

When I compared the two surveys for Washington state, they are very similar. So it validates the accuracy of these two independent sources which appraisers can use to determine their own Customary and Reasonable fees.

Dave Towne
Towne Appraisals
dtowne@fidalgo.net
Mount Vernon, WA
360-708-1196
& Appraiser Education Service

Dave Towne On Customary and Reasonable Fees, August 24, 2010 Update

http://realestateappraisertips.info/ — Tue, 24 Aug 2010 16:50:31 +0000

http://www.realestateappraisertips.info/ – Dave Towne On Customary and Reasonable Fees, August 24, 2010 Update

Appraisers………..

I’m beginning to see all forms of verbiage related to ‘what we call’ our fees. I have been guilty of incorrect use in the past.

I’d like to suggest that all appraisers adopt the ‘legal’ language as contained in the Dodd-Frank Financial Reform law – on page 2215. It says “Lenders and their agents shall compensate fee appraisers at a rate that is Customary and Reasonable for appraisal services…” This, by the way, applies NOW, not at some point in the future.

It’s easy to remember……..C&R Fees. Customary and Reasonable. Not … ‘usual and customary,’ ‘typical and customary,’ ‘typical,’ ‘my usual fee,’ ‘ordinary and acceptable’……..or any other derivation on the theme.

Use Customary and Reasonable. That’s what the law says. If everyone begins using that language it will become ingrained in the psyche of AMC’s and all clients………and appraisers who charge Customary and Reasonable fees for their area.

Customary and Reasonable does not mean the fee some other entity is offering you. It means the fee you need to be in business, to earn a fair profit for your services and pay your overhead….the fee you charge, not necessarily the fee you accept from another outfit that wants to hire you cheaply. Please don’t undersell your service.

Dave Towne
Towne Appraisals
dtowne@fidalgo.net
Mount Vernon, WA
360-708-1196
&
Appraiser Education Service

Marketing For Home Appraisal Tax Appeal Work: An Excellent Example Of How It’s Done!

http://realestateappraisertips.info/ — Thu, 19 Aug 2010 08:40:16 +0000

http://www.realestateappraisertips.info/ – Marketing For Home Appraisal Tax Appeal Work: An Excellent Example Of How It’s Done!

Sacramento Home Appraiser, Ryan Lundquist with Lundquist Appraisal Compnany, is setting the standard for appraiser marketing in the community he serves. Check out Ryan’s new video below and be sure to leave a comment about the video!

Ryan just received a property tax refund check of $398.96 on his own home for tax year 2008. And, he has applied for refunds for 2009 and possibly 2010 as well. What Ryan is proving to his community is that tax appeal appraisals really can produce results. This is fantastic marketing!

Click to the left to read more about Lundquist Appraisal Company!