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



FREE REPORT INCLUDED:
3 Steps to get
More AMC Orders

SECURE & CONFIDENTIAL
Your email will NEVER be rented, traded or sold.
WE GUARANTEE YOUR CONFIDENTIALITY.
We hate spam just as much as you do.


E&O Insurance
Appraisers Club Appraisal Management Companies





Get More Orders - Private Appraisers Club
Get More Estate Work!
Divorce, Bankruptcy,
Date of Death and
Estate orders are
needed in your area!