25th March 2011

Welcome to Appraiser Income

Wow, what a crazy end of 2015! I have been so crazy slammed with work.  Last year when I made this video, it all kinda dried up.  If you are in need of work, please watch this video and make sure you sign up to my Appraiser Marketing System!

If you would like to know a little bit more about me and why I write this blog, please visit this post A little about me – Bryan Knowlton

posted in Appraiser News | 2 Comments

6th October 2016

HUD Grants Appraisers a Reprieve

HUD Grants Appraisers a Reprieve

Home appraisers received a reprieve in the form of a clarification of a requirement issued earlier this year in HUD’s recentupdates to FHA’s Single-Family Housing Policy Handbook.

When published earlier this year, the handbook contained a new requirement for appraisers to physically observe and operate appliances in a home while an appraisal was being conducted. Subsequently, realtors and appraisers expressed concerns that this requirement effectively turned appraisers into inspectors and exceeded the previously understood appraiser duties—and that it would ultimately hurt the consumer, resulting in longer and more costly appraisals.

The new guidelines clarify the requirement; appraisers are now only required to make sure that certain appliances that contribute to a property’s market value are physically present, and appraisers are not required to operate those appliances.

“Appraisers have a lot on their plate, and their work is important to ensuring buyers, sellers, lenders and everyone else involved in a transaction has a credible source to turn to when determining the value of a property,” National Association of Realtors President Tom Salomone said. “Requiring appraisers to perform duties that are better left to a home inspector only slows the process while potentially adding unnecessary costs. FHA did appraisers and consumers a big favor by clarifying appraiser duties and specifically listing the appliances to which this new guidance applies. While there are still improvements to be made, FHA’s announcement provides our realtor members with additional certainty as they continue playing a critical role in the home buying and selling process.”

The update to the requirements alleviates other problems as well. In some cases, appraisers were being blamed when homeowners reported after the appraisals that appliances were either broken or malfunctioning.

“The greatest impact of the revision to the HUD Protocol requirements relating to operational verification of appliances and fixtures is the relief for FHA panel appraisers from concerns of testing a malfunctioning appliance or fixture or being blamed for having broken an appliance or fixture as a result of testing during the inspection of the property,” said Greg Stephens, Chief Appraiser/Compliance with Metro-West Appraisal Co. “To ensure compliance with the previous guideline, some lenders were actually requiring the FHA panel appraisers to provide photographs of the actual operation of each fixture and appliance within the property being appraised.”

…continue reading the rest of this post: HUD Grants Appraisers a Reprieve

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18th July 2016

Anyone need an appraiser trainee in Los Angeles?

Elena Ulitskaya made a post recently on Facebook.  She got a little flamed only for utilizing an additional tool to reach appraisers through the ‘I am an appraiser’ facebook group.  She also received a lot of positive feedback as well and I thought I would see if I could help her out by making a post for her.

If you are seeking an appraiser trainee in Los Angeles, you should interview her.  Thanks everyone!

Here is her post from facebook:

Hello!
I am a licensed as an appraisal trainee in the county of Los Angeles, CA. I am a motivated and intelligent individual with an ability to learn quickly, seeking a career as a Real Estate Appraiser Trainee, where my recent education and personal qualities can be utilized best. If you are a supervisor looking for a hardworking and competent trainee, you have found your match.
If given the opportunity, I would work the best of my abilities to use all of my knowledge and prove my full dedication to the profession. I’m sure that disappointment would not be an issue because I have strong personality, I’m focused, can handle work pressure and I can guarantee that I will do whatever it takes to become valuable and successful team member. I could work with minimal or even no compensation until supervisor would feel more confident in me and my abilities.

I truly appreciate your time and effort to help me out!

Elena Ulitskaya

Please contact me by email: elenul@gmail.com

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18th July 2016

Minnesota, Louisiana and Illinois See Action on AMC Legislation

Minnesota, Louisiana and Illinois all took action in late May on legislation concerning appraisal management companies, the Appraisal Institute reported June 8. The governors in two states signed AMC legislation into law while a third governor is reviewing the legislation proposed in his state.

Minnesota Gov. Mark Dayton on May 23 signed into law SF 2665, legislation that makes several changes to the state’s existing appraiser licensing and appraisal management company registration law, which originally was enacted in 2010.

The new law changes definitions to clarify that entities utilizing employee appraisers to complete appraisal assignments are not AMCs. The law also clarifies that entities with more than 15 independent contractor appraisers in Minnesota or more than 25 contractor appraisers in two or more states are AMCs and therefore subject to the state’s AMC registration and oversight law.

The new law also will require AMCs operating in Minnesota to compensate appraisers at a rate that is reasonable and customary or otherwise face disciplinary action by the state’s Department of Commerce. The legislation outlines how AMCs can satisfy the payment requirements. AMCs also will be required to pay appraisers within 30 days from the date that the appraiser provided their report to the AMC or 30 days from the date the AMC transmitted the report to their client, whichever comes first.

Additionally, the Minnesota law eliminates a provision in the state’s appraiser licensing and certification law that had permitted the Minnesota Department of Commerce to charge appraisers the costs of an investigation even if the investigation found no violations on the part of the appraiser.

In Louisiana, Gov. John Bel Edwards on May 26 signed into law HB 804, legislation that clarifies that AMCs are required to compensate appraisers in accordance with the reasonable and customary fee provisions contained in federal law. The law also gives the Louisiana Real Estate Appraisal Board the authority to collect from AMCs the required National Registry Fees.

The Illinois General Assembly on May 31 completed action on HB 3333, a bill that would create an Appraisal Management Recovery Fund to be used in lieu of the existing surety bond. This Fund will be used to provide restitution to Illinois state-credentialed appraisers when they have not been paid by a failed AMC but have obtained a final judgment from a court. The fund will be subsidized by a fee (up to $500) that each AMC operating in Illinois has to pay until such time as the fund reaches $500,000. Once that amount is reached, the fee will no longer be imposed unless claims are paid.

HB 3333 currently awaits consideration by Illinois Gov. Bruce Rauner.

Review Minnesota SF 2665.

Review Louisiana HB 804.

Review Illinois HB 3333.

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23rd June 2016

Sam Heskel: Appraisers Are Badly In Need Of A Raise

PERSON OF THE WEEK: Sam Heskel is CEO of Nadlan Valuation, a Brooklyn, N.Y.-based appraisal management company (AMC). MortgageOrb recently interviewed Heskel to discuss the most pressing issues and challenges facing the appraisal industry today.

Q: There’s been a lot written about an appraiser shortage. Does it really exist, and how serious is it?

Heskel: It’s definitely real. The vast majority of appraisers are nearing retirement age, and there aren’t enough new people coming into the industry to replace them. According to the Appraisal Institute, nearly two-thirds of appraisers are age 51 or older, 24% are between 36 and 50, and only 13% are 35 or younger. In addition, a lot of those who are working are simply getting burned out. Increased regulations are part of the problem.

Then there’s the problem of compensation. Regulations and guidelines enacted since the mortgage meltdown have added many additional requirements for appraisers, yet their fees have not gone up accordingly. So some experienced appraisers are fed up with the situation – they’re getting out or retiring. For the same reasons, it’s not an attractive field to get into for younger people. Becoming an appraiser today is a lot harder than it used to be. There’s more education and licensing required. As more appraisers retire or leave the business, not enough new people are coming in to replace them. Also, nowadays lenders won’t accept work from appraisal apprentices. If you want to become an appraiser, you need to put in two years as an apprentice. It has become more difficult to find a company willing to take on and train an apprentice for 24 months, especially when the appraisal reports cannot be submitted to a lender.

Q: What places are impacted most by the shortage?

Heskel: Rural areas seem to be affected more than the big cities. We’re already seeing a shortage in some areas. There are just not enough appraisers to go around, and they have a big area to cover. This will have a real impact on the mortgage and home buying industries. Closings will be delayed, maybe by several weeks, depending on the area. This problem is exacerbated during the spring and summer months because housing sales go up, so appraisers are busier.

Q: Why are appraisal fees increasing?

Heskel: Part of the reason is the appraiser shortage. Already, we’re seeing appraisers in some rural areas charging $800 for an appraisal, which is about double what lenders are usually willing to pay.

Secondly, appraisers are badly in need of a raise. It’s long overdue – and fully justified. Many haven’t gotten a raise in about 15 years, even though their workload, responsibilities and liabilities have grown. There’s a lot more regulation, too, and its resultant liability. The Dodd-Frank law and the Consumer Financial Protection Bureau are certainly beneficial, but ensuring compliance with them adds to appraisers’ costs because it takes longer to complete a compliant, quality report.

Let’s not forget that another party has been added to the process – namely AMCs – to manage the entire appraisal process. Appraisers do the actual, on-site property inspection and valuation, while AMCs, such as Nadlan, protect all parties to the deal – the lender, the buyer and the seller – by vetting each appraiser to ensure the appraisal is performed by the best-equipped professional for the particular property. We then review the quality and accuracy of the appraiser’s work, track and manage the data on the properties they appraise, and make sure they’re in compliance with all national and state regulations.

Because of our work, appraisal reports can be turned around faster and with more accuracy, which benefits both home buyers and lenders. We recognize the hard work that appraisers do, so we are considering a new payment policy for our appraisers. Appraisers who complete their appraisal reports within the agreed-upon time will be paid by Nadlan within seven to 10 days, following revisions and reviews.

Q: What are the biggest challenges you face with the mortgage lenders that hire you, and how do you resolve them?

Heskel: Lenders and borrowers hate surprises. The consumer is willing to pay $300,000 to buy a home, but the appraisal comes in at only $280,000. The buyer is naturally upset because he thinks it will cost him the deal, and of course the lender, our client, is also upset. This is where our approach makes a difference. If the property appraises short of the contract price, we communicate with all of the parties involved.

The same goes for refinances, which can often have even a bigger disconnect between home owner estimates and the actual appraised value because there isn’t a real estate agent involved. The borrower estimates his home is worth $700,000, and the appraisal comes in at $450,000. Borrowers can be unrealistic when it comes to estimating their homes’ value. They blame it on the appraiser and the lender.

I advise people to do some research to make sure they’re realistic. We try to educate lender clients on the rules of appraisals and the things we look for so the lender better understands them. We provide a checklist to lenders and mortgage brokers to share with their sales teams, real estate agents and borrowers. Ultimately, it results in less disappointment and aggravation on everyone’s part.

Q: What sets Nadlan apart from other AMCs and appraiser companies?

Heskel: It’s the simple human touch and our superior service. Clients can reach me at almost any time of the day.

Nadlan started out mainly working with small- to medium-size banks so we would be able to deliver personalized service. Today, we’ve expanded, and we’ve carried over with that same approach to the larger lenders. We provide the same personalized service, no matter what size the lender is.

Our appraisal reports are accurate. Everything starts with getting the right appraiser to look at the property, and we feel that we have the best appraisers in the industry. Each of our appraisers is pre-screened and certified in his or her region. Reports are then sent through the most up-to-date software to ensure they are compliant with all national and regional regulations. We then go one step farther and review the final report manually to make sure everything is completely accurate. Underwriters appreciate the time they save, knowing that an expert has already reviewed the report for accuracy and validity.

Lenders also appreciate that we turn around appraisal reports faster and with more scrutiny than most other AMCs. They like anything that will help expedite the transaction for their borrowers, and Nadlan does that. Ultimately, with our approach, our lender clients know that we care.

Q: What is your forecast for the housing market, especially in the New York tri-state area where you are located?

Heskel: In New York City, the housing market is strong. There’s only so much available real estate, and that keeps prices high. In Manhattan and the other four boroughs, real estate will continue to be strong. The high-end luxury condo market in Manhattan has flattened slightly, but that market overall still remains very strong.

There’s an interesting story unfolding in the borough of Brooklyn, where some of the northern neighborhoods, including Williamsburg and Bushwick, have become very hot with rising rents and home prices. But that could change. The Metropolitan Transit Authority announced a few months ago that it is planning an 18-month to 24-month renovation on the L Train, the subway that transports Bushwick and Williamsburg residents into Manhattan and back home again. It may have a big impact on rental prices and, ultimately, home prices in that area.

Although work isn’t expected to begin until late 2018 or 2019, some real estate experts are even now bracing for the impact such a move would have on commercial, multifamily and residential housing, especially in hot spots such as Williamsburg and Bushwick. We’ll be watching the developments carefully.

 

repost from: http://www.mortgageorb.com/sam-heskel-appraisers-are-badly-in-need-of-a-raise

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31st May 2016

Navigating California’s Laws and Regulations

4 Hours CE: $79
(Required coursework: Meets BREA Laws and Regs requirement)

OREP Member Price: $49
(Save $30)

 

Navigating California’s Laws and Regulations

Presented By: Brian Mathews

Do you fully understand the latest California laws and regulations as they relate to appraisal? The Competency Rule of USPAP requires that an appraiser know and understand the laws and regulations that apply to a given assignment. Satisfy your CE requirement and become a more confident,
successful appraiser.

Instructor Brian Mathews, an appraiser for 35+ years and an AQB Certified USPAP Instructor since 2005, shows you the state and federal regulations that you need to be aware of to stay out of trouble. Mathews takes a down-to-earth approach in explaining exactly what you need to know. Learn the current terminology, agencies, and requirements that will help you be a better appraiser. This course is hot off the presses and filled with the latest information on state and federal regulations.

Sign Up Now! $79 | Members Sign Up

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27th May 2016

Just in time for Memorial Day – Marketing Guides and Directories

UPDATED: JANUARY 02, 2016

2016 Appraisal Management Company Directory
Fully Updated for 2016

    • Now With over 200 AMCs Listed
    • TOP 41 on the list send me 90% of all appraisal orders
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Published by a full time Real Estate Appraiser

Do you want more appraisal orders? Are you looking to recession proof your appraisal business by getting more Estate and FHA appraisal requests? Have you signed up to appraisal management companies and are still not getting any offers from the AMCs? Do you need a GOOD list with all the bad guys removed?

Don’t Hesitate! If you have any questions please contact me any time during the day! email me at bryan@appraiserincome.com and I will get back to you immediately!!!

2016 APPRAISAL MANAGEMENT COMPANY DIRECTORY

200+ VERIFIED Appraisal Management Companies Listed!

Honestly, most of us hate working for the appraisal management companies but want to stay in business… But are you doing AMC orders full time? Are you making $8,000 – $12,000 per month?

On average I make over $12,000 a month doing Estate Appraisals ordered off my top ranking website and completing orders for appraisal management companies. I update the list frequently and now I can easily say more than 90% of my AMC work comes from the top 41 vendors. They also offer the most competitive rates and turn around times.

This book lays out all the details on how to get signed up with the appraisal management companies and information on creating top ranking websites. Order the book today and you will receive a free search engine optimized website built by internet marketing specialists. All the details are in the AMC Directory.

APPRAISAL MANAGEMENT COMPANIES BLOW – BUT YOU CAN DO WELL USING THEM

 

Chapters Include:
– Maximize orders with Appraisal Management Companies
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– Links to online applications and emails
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Bonus Chapters Included:
– Recession Proof Your Appraisal Business for the future
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– FHA Checklist and common errors to avoid

90% of my work come from the first 41 on my list!Get Started Today!

appraisal management companies

Online AMC Directory Available through a membership with the
Private Appraisers Club – http://www.appraisersclub.com

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25th May 2016

How to Support and Prove Your Adjustments

7 Hours CE: $119

OREP Member Price: $99
(Save $20)

Testimonials
“I truly want to produce the highest quality appraisals possible and your classes have finally given me to tools and ideas to make that possible.”Jackie Cox

“Why wasn’t this taught years ago?”Jackie Henry

“It was a great class, now I need to redo all my reports for the last 30 years!”Sharon

Presented By: Richard Hagar, SRA

Online CE
Take this course at your own schedule!

Will support for your adjustments hold up under scrutiny? How do you determine the right adjustment?

Regulations now require that appraisal adjustments cannot be based upon an appraiser’s opinion. Failure to provide proof and analysis to support your adjustments can mean a rough road from now on: state board complaints, license revocation, panel removal, lawsuits.

And learn how to avoid Fannie Mae’s bad side: Fannie Mae states that the number one reason appraisals are flagged is the “use of adjustments that do not reflect market reaction.”

So get smart(er) and stop taking the same old CE courses. Learn something relevant to today’s business environment. This legendary course taught by Richard Hagar, SRA shows you the accepted methods of providing supportable adjustments. Up your game, avoid time-consuming callbacks and earn approved CE today!

• Real world examples and case studies
• Use proven techniques to defend yourself against state boards, lenders, and disgruntled clients
• Master adjustment methods using the Cost, Income, and Sales Comparison Approaches
Improve your skillset, increase your income by producing a better product and avoid judgment day with this new CE offering.

Sign Up Now! ($119) | Members Sign Up ($99)

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26th April 2016

Webinar on Marketing your Appraisal Business – FREE

This Free Appraiser Training Will Teach You…

-> How to make your appraisal business STAND OUT!
-> The best appraisal management companies to work with
-> How to do marketing for non-lender work
-> How to be found in your local area online… and why that’s so important
-> Websites: How to set yours up so you can get found in the search engines
-> The right way to build your list and do follow-up (and how to automate a huge percentage of it!)
-> How to build relationships that will send you an endless stream of leads
-> How to use direct mail effectively (i.e. without losing money!)
-> The fastest and easiest way to get #1 rankings in Google (just wait until you see what we were able to accomplish for other appraisers!)
-> One way to reach your list within minutes… and all but guarantee they see your message
-> How you doing LESS work can actually grow your business 10x faster
-> And much, much more!

Register Now For The Next Webinar – we’ll see you there!

Bryan Knowlton

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24th April 2016

College Degree Requirement Misguided

by David Brauner, Publisher, http://workingre.com

I know about half of you disagree but the college degree requirement for Certification was a wrong turn for the industry. To its credit the Appraisal Foundation (TAF) is on the right track in trying to find a way out of the corner it has painted the profession into but it doesn’t look like it intends to go far enough in fixing the problem. As we all know by now, veteran appraisers as well as newbies can be licensed without a college degree but not Certified. Because so much of the business today depends on being Certified, not holding that license level can be a very limiting condition indeed: it disqualifies appraisers from most AMC and lender panels and excludes them from working for the FHA. A lack of opportunity has driven many good appraisers from the business and for the first time in a long time, there is a shortage of new appraisers entering the profession. This is not good news.

Without new vitality to innovate the profession, it will wither and die. Lenders will create alternative solutions that combine big data and low-fee “property inspections” for all but the most unique properties to replace appraisers. To the current “shortage” of appraisers you may be shouting “Hallelujah!” while you enjoy some long-overdue increases in your fees. But if you’re really honest with yourself you must agree that a college degree is no predictor of good work or good behavior (there are far too many examples from our profession and others that make that statement sadly ridiculous). Training, testing and time can separate the wheat from the chaff when combined with consistent enforcement. Effective oversight will identify repeat violators and patterns to reveal who won’t or can’t adopt accepted techniques or who refuse to play by the ethical rules. We all agree these types should be expunged from the ranks but a college degree does not guarantee competency or ethical behavior: so what is it about?

 
The college degree requirement seems more like a forced attempt at elevating the status of the profession by closing the club, and that strikes me as elitist. Not everyone has the opportunity, resources or aptitude to attend and/or flourish in college. Some very smart people just don’t learn via traditional education methods. And holding up the education requirements of other professions like attorneys, doctors and CPAs just does not hold water. An accountant is a more apt comparison and while a college degree is recommended, it is not required to become an accountant, nor is it to become an engineer, software developer, airline pilot or journalist for that matter. A recent letter from a reader points out that a degree is not even required to be President of the United States! The requirement is even more dubious when you consider that a degree in any subject passes muster for becoming a Certified Appraiser, no matter how unrelated (think French Literature for instance), while someone with the skills to flourish in this business would be shut out for all intents and purposes without a degree.

The folks at TAF tell WRE that they are looking into alternative paths to Certification for veteran appraisers with “a track record of professional (appraisal) experience.” That’s very good but not good enough. The college degree requirement for new appraisers ought to be replaced by some combination of education, coursework and testing so that a whole new generation of young, smart and tech-savvy entrepreneurs has a chance to contribute to the profession, whether they are cut out for college or not. Many young candidates will be your sons or daughters or grandchildren. Are they all destined to graduate college? Like you, they should be able to enjoy a profession that allows them to be their own boss while making an honest living and a valuable and rewarding contribution to their community. To dig in on this issue and leave the college degree requirement in place for prospective appraisers without any reasonable path to Certification risks the future of the profession and turns away many men and women who could add to its legacy.

 
TAF believes there is no opposition to the college degree requirement among appraisers. Whether you agree or not, you can share your opinion and feedback with Working RE’s new Future of Appraisers Survey. We will publish the results for all to see, whatever you decide.

repost from WorkingRE.com

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22nd April 2016

Photographer: Andrew Harrer/Bloomberg Lenders Are Getting Choosier When It Comes to Risky Real Estate Deals

Lenders are getting stingier when it comes to funding risky U.S. real estate developments, putting pressure on landlords in need of fresh funding to keep their projects afloat.

Banks are proceeding with caution as the specter of slowing economic growth rattles financial markets and shakes investor confidence in a six-year recovery that’s helped lift property values to records. Lenders are going to be more selective and discriminating as the year progresses, said Mark Myers, the head of the commercial real estate business at Wells Fargo & Co., the largest U.S. commercial-property lender.

“We’re getting late in the cycle,” Myers said in a phone interview. “If the economy continues to grow ever so slowly, demand for commercial real estate will continue to grow ever so slowly. To the extent that the economic climate goes in the wrong direction, it’s going to have an impact on demand for commercial real estate.” …continue reading the rest of this post: Photographer: Andrew Harrer/Bloomberg Lenders Are Getting Choosier When It Comes to Risky Real Estate Deals

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