28th August 2012

Forsythe Appraisal is hiring staff Appraisers

Forsythe Appraisals, LLC has grown into the nation’s largest independent residential appraisal firm thanks to the hard work, dedication, and expertise of our staff appraisers. We continue to grow, having opened two new branches in the past 2 months.

Now is the time for appraisers in metropolitan markets coast-to-coast to take advantage of the following benefits:

…continue reading the rest of this post: Forsythe Appraisal is hiring staff Appraisers

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23rd August 2012

Fund Set Up to Help Family of Appraiser Slain in Aurora Tragedy

Most Working RE Readers have heard about the tragic movie theater shooting in Aurora, Colorado. Among those killed in the shooting was Gordon Cowden, a real estate appraiser.

Gordon attended the movie with two of his teenage children, 17-year-old Brooke and 16-year-old Cierra, both of whom managed to avoid injury. Gordon was the oldest of the victims, at 51 years of age, and worked as a real estate appraiser.

Gordon will be remembered as a man with a great sense of humor, a man of strong faith and a father who absolutely adored his children.

A Message from the Cowden Family:
As long as I can remember, my father was an appraiser, my siblings responded to the question the same, and my mother told me that he was an appraiser all of his adult life. She told me that he started as an appraiser’s assistant, and thus it was his work since graduating college. We predict the amount of time to be at least twenty five years.

While we have faith in the future and know we will make things work, our current concerns are immediate expenses and those in the near future, such as college, all without the support of our Dad. We would greatly appreciate the support, and we simply cannot thank you enough for reaching out to us in the midst of this tragedy. -The Cowden Family

If you’d like to donate to the Gordon Cowden Children’s Fund, you may do so here: www.gordoncowdenchildrensfund.com.

Also, the Real Estate Appraisers Association (REAA), a non-profit appraiser’s organization with 4 chapters in California, has opened a separate bank account specifically for your donations. The bank will charge the account 2.5% plus $0.30 per donation transaction, which is the ONLY administrative cost that will not be forwarded to the family of Gordon Cowden according to Curtis Thor, President of REAA. According to Thor, the family will receive everything remaining after the bank takes their transaction fee. This account will stay open through October 24, 2012.

Donations can be made to the Cowden Family by visiting the REAA Website and clicking Donate on the Form on the right. Click here to make a donation.

REAA Contact:
VICKI KEELER
916-988-9442
reaaappraiser@earthlink.net

REAA’s Mission: To promote the appraisal profession, and our membership, through education, networking and mentoring for professional development, with dedication to the highest ethical standards of appraisal practice.

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22nd August 2012

Legislation That May Affect Appraisers

A recent post from AppraisalPort© regarding legislative updates that may affect appraisers across the country and AI’s position.

Below is a brief synopsis of three bills that could potentially have both positive and negative ramifications for appraisers. The first one is HR 3461: The Financial Institutions Examination Fairness and Reform Act, which is sponsored by Rep. Shelley Capito (R-WV) and is designed to promote bank examination consistency, safety, and soundness. The AI supports measures to promote consistency, but believes amendments are necessary to this bill as introduced. The bill contains many provisions to strengthen the bank examination process, but the AI sees a problem in that it waives the right of bank examiners to order new appraisals due to safety and soundness issues. The AI believes examiners should not have their hands tied in these situations. The AI also believes appraisals should be allowed to be ordered whenever they are needed. Bank examiners currently oppose the bill, but it does have bipartisan support which could lead to passage, at least in the House.

…continue reading the rest of this post: Legislation That May Affect Appraisers

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22nd August 2012

Federal Agencies on Fraudulent Property Flipping with new Appraisal Rules

The Federal Reserve Board, Bureau of Consumer Protection, FDIC, FHFA, NCUA, and OCC announced a proposal to amend Regulation Z, which implements the Truth in Lending Act, and the official interpretation to the regulation. The proposed revisions would have new appraisal requirements for “higher-risk mortgages” that was added as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Home Destination, a residential Minneapolis-based professional Realtor with RE/MAX Results, works closely with home buyers through the pivotal role of an appraiser in real estate purchases.

…continue reading the rest of this post: Federal Agencies on Fraudulent Property Flipping with new Appraisal Rules

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7th August 2012

Appraisers can help you with the upcoming gift tax deadline

By Lou Carlozo

CHICAGO | Tue Aug 7, 2012 11:44am EDT

(Reuters) – Faced with the possibility of the lifetime gift tax exemption dropping precipitously next year and the estate tax rate rising, wealthy individuals are rushing to transfer their assets to family members.

It is no wonder that 73-year-old commercial real estate appraiser Jim Levy is busier now than he ever was – and that is saying a lot, considering he has been in the business for 50 years at Appraisers and Planners Inc of New York City, which his father started in 1933.

“It’s crazy right now,” says Levy. “And this is just the beginning.”

Right now, federal law provides a lifetime gift tax exemption of $5.12 million for individuals, and double that amount for married couples pooling their resources.

What is more, estate taxes on anything above that cap top out at 35 percent, 15 percentage points lower than the ceiling just a decade ago. But unless Congress extends this Bush-era tax cut beyond 2012, the cap will return to its lowest level since 2002: $1 million per person, with a top tax rate of 55 percent.

…continue reading the rest of this post: Appraisers can help you with the upcoming gift tax deadline

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3rd August 2012

Real Estate appraiser standup comedy the punchline with David Cash

I came across this today. Oh Man, too funny!

http://youtu.be/-ioDtuZh5_k

Enjoy!

Bryan

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3rd August 2012

DataQuick is Hiring Staff Appraisers

Appraisers—We Want You!

Opportunity is knocking! Expand your earnings potential…grow your business…maintain a steady volume of work! DataQuick, one of the nation’s leading service providers, is hiring certified residential appraisers nationwide. Since 1978, DataQuick has been a recognized leader in the property information industry. Staff Appraisers can benefit from the following at DataQuick:

NO EXCLUSIVE AGREEMENT REQUIRED!

Medical, dental & vision insurance

401(k) retirement savings plan

FREE — $40K Life and AD&D policies

Tax advantage accounts—FSA & HSA options

Bi-weekly payroll cycle

FICA & FUTA payroll tax paid by the company

$250 reimbursement for continuing education costs

Dedicated Appraisal Processors and Support available

FREE — Marshall & Swift SwiftEstimator cost replacement subscription
FREE — Workers Comp insurance
FREE — E & O insurance
FREE — Short term & Long term disability insurance
FREE — License renewal reimbursement
FREE — Access to tech support for business software
Appraisal software flexibility (ACI provided upon request)
Committed team of Senior Appraisers and Chief Appraiser for technical support

Join Our Team!

For consideration please submit the following to staffappraiser@dataquick.com

1. Appraiser License
2. Resume
3. Coverage Area
4. Two recent UAD reports with MC — 1004 and Condo

staffappraiser@dataquick.com

posted in Appraisal Management Companies | 4 Comments

2nd August 2012

Appraisers Hindering a Full Recovery in the Real Estate Market

According to a recent article in the Washington Post, appraisers are hindering a full recovery in the real estate market.


http://www.washingtonpost.com/realestate/house-sales-hampered-by-appraisers-who-fail-to-recognize-appreciation/2012/06/21/gJQALhMetV_story.html

After reading the article, I believe that low quality appraisals are causing an influence, but we can’t accept all the blame. The article states that a recent poll to NAR members stated 33% of sales fell through due to problems with the appraisal. Sounds like BS to me, sounds more like selling agents trying to get the most $$$ for their clients in a heating up market. That doesn’t mean a buy should over pay for a property. Do we really want to go down that road again?

The article goes on to explain how many appraisers are afraid to make adjustments for appreciation due to the appraisal management companies. So to save some time and avoid backing up their data, I can see many underpaid appraisers just opting out and stating no appreciation for the area.

I can also see why AMCs are afraid of adjusting for appreciation. Most lenders don’t want to see this again after the big melt down.

The final value has to be supported by an ‘unadjusted’ sale as well, so I do not see how appraisers are getting blamed for this issue as well. If sales are showing appreciation, then ALL the sales should be showing appreciation, it is fairly easy to determine if an adjustment is required.

AMCs are controlling many aspects of the appraisal process which is hindering a full recovery of the Real Estate Market. The direct lenders who have their own ‘amc division’ and are forward thinking understand the value of a qualified appraiser and not only hire better appraisers but get better quality appraisals that reflect current market conditions.

Just my 2 cents.

Bryan

posted in Appraisal Management Companies | 6 Comments

2nd August 2012

Appraisal Management Companies Explosive Growth

Here are just some recent news that came out today. The Appraisal Management Companies are exploding in size and continue to grow.

In my opinion, find the best ones to work with and secure your future.

But of course, also work on increasing your non-lender work by learning how to market your appraisal business. Check under the Appraiser Marketing section of Appraiser Income to learn how to market your appraisal business again.

Steetlinks Expanding with new 77,000-square-foot lease at NetPark located in Tampa.

With 160 currently on staff and plans of hiring another 100 over the next year, it appears the company is rapidly growing. I have a feeling they are really looking to take a larger piece out of the market and I have not only seen an drastic increase in orders, I know many other appraisers that have as well. Hopefully they will become a good appraisal management companies that becomes known for treating their appraisers well!

a la mode Partners With SharperLending on Appraisal Initiatives

“The integration with Mercury Network gives Appraisal Firewall lenders instant access to an expanded list of AMCs with which they can work,” said Dave Black, president and chief executive officer of SharperLending, the company behind the Appraisal Firewall technology. “We feel that this is an especially effective strategic partnership because both of our companies have demonstrated a commitment to delivering efficiency and compliance technology solutions to lenders to make sure appraisal processes don’t get bogged down.”

Zaio Expands AMC Distribution Network Nationally

Axis Appraisal Management to Distribute Zaio’s Suite of Appraisal Products

CALGARY, ALBERTA–(Marketwire – July 31, 2012) – Zaio Corporation (TSX VENTURE:ZAO) (the “Company”) today announced that its partner in the United States, Zone Data Systems LLC (“ZDS”), has entered into a reseller agreement with Axis Appraisal Management Solutions Inc. (Axis), a national appraisal management company (AMC), to provide direct order access to Zaio’s suite of on demand appraisal products.

Based just north of San Francisco, California, Axis has a nationwide panel of certified appraisers that provides appraisal services to a large and growing list of mortgage lenders and other clients across the United States. “Partnering with Zone Data Systems and utilizing Zaio technology provides Axis with a unique product offering in the United States,” noted Ron Simmons, Director of Valuation Services & Chief Appraiser of Axis. “Zaio’s product offering leverages our position in the marketplace and complements our nationwide appraiser panel, growing review service needs, and automated valuation model offerings. It gives our customers another option and additional price points by which they can do business with Axis.”

Axis joins Kirchmeyer & Associates, Veros Corporation, and Servicelink in offering Zaio products and services across the United States.

National AMCs are an important link in the property appraisal process. Local property appraisers align themselves with AMCs to gain access to a broader base of regional and national customers who may be looking for appraisal services in their area. Regional and national mortgage lenders use AMCs to route their appraisal orders to these local appraisal experts. By establishing direct order access relationships with AMCs, Zaio is able to provide the AMC’s customer with an accurate, cost effective, rapid response suite of appraisal products.

“We are starting to see increased interest from the AMC community in Zaio’s appraisal product suite because our database has now reached a critical mass in terms of the number of properties and the number of urban centres that we cover,” noted David King, Zaio’s President and CEO. “I expect Zaio’s relationship with Axis to grow as we continue to fill out the scope of our coverage, which today stands in excess of 30 million properties ready for order taking.”

posted in Appraisal Management Companies | 1 Comment



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