http://www.realestateappraisertips.info/ - Dave Towne: TAVMA Lies And Is Your Enemy – RESPOND NOW!

Appraisers…….

Please open/read the letter, written by Jeff Schurman, Executive Director, TAVMA here!

I was just sent this late on Thur, 9/2/10 … wish I had seen it earlier.

Lies, distortions and falsehoods are all through the letter, which basically says you can’t charge your Customary and Reasonable fee NOW. It states any discussion and determination of what your fee is should be delayed and determined by some governmental agency.

Please respond immediately with your own thoughts and concerns about this by writing to:

Chairman Ben S. Bernanke
Board of Governors of the Federal Reserve System
20th Street and Constitution Avenue NW
Washington, DC 20551

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http://www.realestateappraisertips.info/ – Real Estate Appraisers: Webinar Replays of David Braun’s Two Recent Regression Seminars

Veteran Appraiser, David Braun, MAI, SRA of Automated Valuation Tools, recently held two Webinars on Regression Analysis. The details of these webinars are found here: http://www.workingre.com/workingre/avt-free-webinars-081310.htm. The first Webinar was an introduction to Regression. The second Webinar covered what Automated Valuation Tools has done to facilitate the move towards regression analysis in appraisal practice, regression case studies and an introduction to the “Fusion” product that can help faciliate this process. These two webinars were in partial preparation for the “LIVE” Regression Analysis training to held in 3 locations in 2010: Nashville TN (Sept. 23-24), Chicago IL (Octobert 21-22) and San Antonio TX (November 18-19). To Register, Click Seminars!

To watch the video of Webinar 1: “Introduction to Regression Analysis”

1) Load the required Webex viewer (click run to load):

http://automatedvaluationtools.com/media/nbr2player.msi

2) Click the following link to watch the video:

http://automatedvaluationtools.com/media/Introduction_Regression_Analysis.arf

NOTE: When Webinar 2 becomes available, Tips will post the link!

Tags: Regression Analysis, 1004MC, 1004 mc, 1004-mc, Automated Valuations Tools, David Braun, Real Estate Appraisers, Statistical Appraising

This webinar is about 40 minutes long.

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http://www.realestateappraisertips.info/ – Real Estate Appraiser Tips: New Home Appraisal Regulations Stricter than HVCC!

The Coester AppraisalNEWSCAST.com Blog has posted an article for home appraisers: New Appraisal Regulations Stricter than HVCC ! Click the link to read the entire article and comment. Tips is providing a few snippet paragraphs below:

“The new law is stricter than the Home Value Code of Conduct (HVCC), and violations are unlawful and subject to stiff penalties of up to $20,000 per person per day.”

“According to Creech, the bill has provided lenders with three ways to manage their appraisal process. They can complete outsourcing with one or multiple appraisal management companies (AMCs), choose self-management of appraiser panels from ordering to delivery of appraisals, or pick a hybrid model. Hybrids consist of a combination of self-management and AMC outsourcing where a lender manages its own appraiser panel in key markets and outsources out-of-market business and appraisal overflows to AMCs.”

“All lenders will face higher appraisal costs due to the new ‘reasonable and customary’ fees paid to appraisers mandated by the new law no matter which appraisal management option they choose,” Creech said.”

Tags: HVCC, Appraiser Independence, Home Appraisers, Real Estate Appraisers

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http://www.realestateappraisertips.info/ – Dave Towne To Home Appraisers: New Fannie requirement – Active Listings

While this is for Washington State Appraisers, this may be broadly help to us all.

Appraisers……….

(In WA State – Matrix software via NWMLS)

FannieMae, effective TODAY, wants the MC Form ACTIVE LISTINGS (Total # of Comparable Active Listings) info to be reported as those properties active on a specific day in the MC form columns. Some MLS systems cannot provide that data (Matrix cannot, yet).

The specific day is the ‘first’ day (closest to the Effective Date) of that time period, not the last day.

Because my area MLS cannot provide this data, the screen shot below shows how I report this. Note that NO TREND can be reported on that line, or the line below, because only one column has data.

We are required to EXPLAIN why certain info cannot be provided. The screen shot below is from my report MC Form Scope of Work addendum, which basically says some info on this wonderful form is junk. You can use this verbiage if you like:

1.) The 1004MC requests historical Listings data (gray fields and right column). The local MLS cannot provide historical Comparable Active Listing data as requested. The only Listing data available is current Active Listings as of the date and time queried. The appraiser has provided the number of active Listings in the Current – 3 Months column as of the date and time of the analysis is if available.

CAUTION: Appraisers who use the California based appraiser’s Excel spreadsheet to derive the MC Form data (or any other version) may want to verify that process to be certain the Active Listing info is reported correctly. (I don’t use this in my reports or for analysis.)

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http://www.realestateappraisertips.info/ - Home Appraiser Video Blogging: Using Jing Pro With Webcam To Report On Local Housing Markets!

I’ve been using Jing Pro for about one year now and like it. Jing allows one to video screen capture whatever is on the desktop and share with others by emailing the video link, hosted on screencast.com, or by directly sharing the video on YouTube or Facebook as I have done below. HOWEVER, Jing Pro recently added the webcam feature in which you toggle between yourself and your desktop. Here’s a market report I created this morning below. It’s rough and I’ll improve as I create more of these. I can’t believe Jing Pro is only $14.95/year.

See More About Jing Pro Below.

Tags: real estate appraiser blogging, appraiser blogging, appraiser video blogging, real estate appraiser video blogging

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This is the monthly Keller Williams Realty “This Month In Real Estate US” edition.

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http://www.realestateappraisertips.info/ - The Appraisal Show Video: BURN THE WITCH!!! Forensic Reviews, E and O Insurance and Indemnification Agreements!

BURN THE WITCH!!! The Appraisal Show for Monday, August 30, 2010 – Bill and Tinna take on Forensic Reviews, E&O Insurance and Indemnification Agreements, Picture of the Week and New Fannie Mae Guidelines start on September 1st.

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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!

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http://www.smartphonesvideos.com/ – New Smart Phone Videos Site Launched – Smart Phones Videos – News, Tips, Reviews, Tutorials!

A new video based site has launched for a one-stop-site for smart phone videos – new videos on smart phones, video reviews of smart phones, smart phone videos tips and smart phone video tutorials!

Name and Description: Smart Phones Videos – Smart Phone Videos of News, Tips, Reviews, Tutorials!

Site URL: http://www.smartphonesvideos.com/

Keywords: smart phone, smart phones, smart phone videos, smart phones videos, blackberry videos, iphone videos, smart phone accessories videos, smart phone video reviews, smart phone video tips, smart phone video tutorials

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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.”