23rd April 2014

Fannie Mae Updates Appraisal Policies

On April 15, Fannie Mae announced changes to its Selling Guide that affect appraisal policies relating to appraisal updates, required photos and acceptable comparable properties. The changes, which are effective immediately, follow a comprehensive review of the Guide’s appraisal requirements chapters.

“As a result of that review, new policies have been developed, current policies have been clarified, and additional guidance has been incorporated,” Fannie Mae noted in its announcement. “Further, significant changes to the organization of both chapters have been made. In some cases, topics and paragraphs have been re-titled and content has been reorganized with the expectation that searching for specific information will be much easier.”

Among the changes, Fannie now requires appraisers who are performing an appraisal update to include a photograph of the front of a subject property so that the exterior inspection can be validated. Appraisal updates must be reported on the Appraisal Update and/or Completion Report (Form 1004D).

Fannie Mae noted that origination appraisals can be utilized for subsequent transactions if there is no change to the property condition impacting the market value and certain requirements are met. The requirements relate to the transaction type, age of the appraisal, continuity of ownership and the lender.

When identifying an addition that doesn’t have a required permit, the appraiser must comment on the quality and appearance of the work. Comments also are needed on the impact, if any, on the market value of the subject property.

Fannie Mae clarified that it no longer needs an explanation when using comparable sales that are more than six months old. The lender also added an example in its Selling Guide that illustrates when it might be appropriate to use older sales with proper time adjustments instead of a more recent but dissimilar sale.

“An older sale may be more appropriate in situations when market conditions have impacted the availability of recent sales as long as the appraisal reflects the changing market conditions,” the GSE stated in the announcement.

The complete details about the update are outlined in Fannie Mae’s Selling Guide Announcement SEL-2014-03.

 

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22nd April 2014

Let the California Bureau of Real Estate Appraisers know what you think about them

Dear Valued Stakeholder,
This note is a reminder to provide your responses to our planning survey. We originally sent you this request on April 8, 2014.
The Bureau of Real Estate Appraisers is beginning the development of its strategic plan for 2014-2019. The Department of Consumer Affairs, SOLID Planning Solutions (SOLID) is assisting the Bureau with its strategic planning process.
As a stakeholder involved with the Real Estate Appraisal profession, you have an important perspective and stake in the success of the Bureau. Your completed survey will provide input as to how the Bureau is doing by identifying strengths, challenges, and current trends to consider for the future direction of the Bureau.
Thank you for taking time to participate in this short survey. All responses are anonymous. This will allow us to add your feedback to our analysis as we prepare our strategic plan.
Sincerely,
Jim Martin
Bureau of Real Estate Appraisers, Chief

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11th April 2014

2014 Appraisal Management Company Directory Now Available!

I just wanted to let everyone know the new 2014 AMC Directory is now available! You can find it inside of the store.

On this last update, I went through the entire list of appraisal management companies and removed any of the companies that have had problems paying appraisers, those that have gone out of business as well as adding a bunch of new companies to the list. They are all clickable links on the electronic version and a printed version is also available for those that want to write their usernames and passwords directly in to the book.

With the incredible slowdown that has been experienced recently, it is a great time to update all of your information with the AMCs and sign up to a bunch of new companies. The list has over 275 companies with the top 47 on the list are the companies that sent me the most work in the past year. There is still a lot of work out there.

2014 AMC DirectoryWhy are you not getting the appraisal orders?

There are a lot of reasons why you might not be getting a ton of work from the appraisal management companies. Topping the list of reasons is due to document updating when you get a new license or e&o insurance. You can also reach out to all the appraisal management companies by phone to speak with the vendor managers. AMCs like to work with appraisers that reach out to them and you might even get on their preferred list of appraisers.

Of course fees vary from one company to the next. I have not accepted less than customary and reasonable fees for many years now and I am not about to get started. A lot of these AMCs still work with the fees with appraisers as long as you explain the situation.

 

Well, I just wanted to let everyone know the new directory is available and you can order your copy today. Thanks again for being a valued subscriber to Appraiser Income! http://appraiserincome.com/shop/catalogue.php

Wishing you success in 2014,
Sincerely,
Bryan Knowlton
http://www.appraiserincome.com

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10th April 2014

Need More Non-Lender Work? Check this out.

Appraiser Marketing Guide and List of 3400+
Direct Lenders, Credit Unions and Bail Bond Companies

No More Middlemen

 

Have you noticed a significant decline of lender work over the past few months? Do you want to learn how to get more appraisal orders and finally get off the Appraisal Management Company roller coaster ride for good?

Like many appraisers I have seen a very significant decline in AMC orders over the past few months. I have been kicking myself in the butt for not getting started on my marketing to Attorneys, bail bond companies and credit unions prior to the interest rates going up.

Luckily I have a steady stream of attorney work that keeps me busy due to having a good contact management system in place and a steady client base of bail bond companies that refer their customers to me.

In this book I have detailed the steps that I take to create an inexpensive mailer to get more work from credit unions, attorneys and bail bond companies as well as the systems I use to continually get more referral work from all my past clients.

This is an incredible resource to those appraisers that are really looking to learn how do market your appraisal company and build up your client base so you don’t have to deal with seasonal and economic slow downs. This kind of work never goes away!

Possibly one of the most valuable aspects of this book is the spreadsheets that include:


2500+ Credit Unions
550+ Bail Bond Companies
300+ Direct Lenders
 

 

Chapters Include:

  • How To Use the Spreadsheets Included With This Book
  • Will Rising Interest Rates Affect Your Appraisal Business?
  • Getting Off The Appraisal Management Company Roller Coaster Ride for Good
  • How to Market to Attorneys, Bail Bond Companies, Direct Lenders and Credit Unions
  • Step-by-Step Instructions to Make a Postcard Mailer From Card Design to Mailing
  • How To Get Low Cost Mailing Lists Made Targeting Local Divorce and Bankruptcy Attorneys
  • Tested Methods on How To Get More Referral Work From Past and Existing Clients
  • How to get a FREE Local Listing in Google and Optimize it for Best Results

You are going to especially love the Bail Bond marketing information. These orders are amazing and I have been focusing a lot of my efforts to getting more of their referrals. Why?

When I am referred a customer, I quote 3 fees. I base my first fee off of complexity of the appraisal. Lets say it is a standard tract home in San Diego. I quote them $400 and will inspect within 2 working days and have the appraisal report back to them within 2 days. The second fee is to inspect within 24 hours and have back within 24 hours for $800, and finally a same day inspection and deliver of the appraisal is $1200.

Which one do you think the client wants when they are trying to get a loved one out of jail? 75% of the time it is the $1200 fee for a simple tract home appraisal.

But you do have to follow up to keep these clients, and I have listed all the techniques I use to stay in contact with these clients so the work doesn’t go away.

This resource is jammed packed with information and the spreadsheets are 100% sortable by state to make it easy to create your postcard and do your mailing as noted in Chapter 5: Step-by-Step Instructions to Make a Postcard Mailer From Card Design to Mailing

The next chapter lays out the steps I use to get a massive list of Attorneys in my market area by an inexpensive virtual assistant.

Take the time today to order my New Book & Directory – No More Middlemen – Full Fee & Appraisal Managment Free : 2014 Appraiser Marketing Guide and List of 3400+ Direct Lenders, Credit Unions and Bail Bond Companies and finally get off the crappy appraisal management company roller coaster ride for good!

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Bryan Knowlton
Appraiser Income
http://www.appraiserincome.com

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10th April 2014

FW: [OREA_NOTICES] Help shape the California Bureau of Real Estate Appraisers next 5 years

LinkedIn

Curtis D. Harris, BS, CGREA, REB
Curtis D. Harris, BS, CGREA, REB
Commercial Appraiser at The Harris Company, REA/C, 310.337.1973, harris_curtis@sbcglobal.net
From: Curits Harris [mailto:harris_curtis@sbcglobal.net]
Sent: Tuesday, April 08, 2014 1:28 PM
To: 0c275a5e87d55e13@typepad.com
Subject: FW: [OREA_NOTICES] Help shape the California Bureau of Real Estate Appraisers next 5 years Commercial Appraiser, #commercialappraiser, #cre, #realestate, #appraiser,

Commercial Appraiser, #commercialappraiser, #cre, #realestate, #appraiser,

ARE YOU KIDDING I WOULD LOVE TO. I GIVE YOU AN OVER ALL FAIL (VERY POOR) RATING. I ENCOURAGE ALL CALIFORNIA APPRAISERS TO TAKE THE SURVEY AND LET THEM KNOW HOW THEY FEEL. ALSO SHARE YOUR COMMENTS WITH US SO THAT THE RESULTS ARE NOT WHITEWASHED. FINALLY, I SUGGEST THAT APPRAISERS FROM OTHER STATES JOIN IN AND LET PLUTOGRATS KNOW TIME IT IS.

Strength’s? Hah, you have got to be kidding me. What a bunch of idiots.

They resemble a bunch of idiots trying to represent the Appraisal Institute, a sad-sack group of supposedly professionals. Remove all AI members from your ranks and the state will be better off.

Put more focus on the folks that created most of these problems, like the appraisal institute and appraiser management firms, limit the commission to appraiser management firms to a maxim of 10%

STOP BLOWING SMOKE AND CHASING THE LITTLE GUY. THE APPRAISAL INSTUTE HAS REMOVED FROM THE APPRAISAL FOUNDATION AND JUST RECENTLY FORBIDDEN TO DO APPRAISALS FOR THE IRS. I UNDERSTAND THAT YOU CHARGED TWO OF THEM WITH FRAUD AND BOTH GOT OFF.

gET THE BIG gUYS !
https://www.surveymonkey.com/s/Bureau_of_Real_Estate_Appraisers

Thanks!
Curtis D. Harris, BS, CGREA, REB
Bachelor of Science in Real Estate, CSULA
State Certified General Appraiser
Real Estate Broker
ASTM E-2018 Commercial Real Estate Inspector
HUD 203k Consultant
HUD/FHA Real Estate Appraiser/Reviewer
FannieMae REO Consultant
CTAC LEED Certification

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7th April 2014

DataQuick is hiring Certified Appraisers for Staff Appraiser positions to complete residential work in the following counties:

                         

Certified Appraisers Valued!
$1,000 Sign On Bonus

Opportunity is knocking!  Expand your earnings potential…grow your business…maintain a steady volume of work! 

DataQuick is hiring Certified Appraisers for Staff Appraiser positions to complete residential work in the following counties:

AZ: Maricopa; CA: Riverside, San Francisco; DC: District of Columbia; FL: Lee, Palm Beach, IL: Cook; KY: Jefferson; LA: East Baton Rouge; MD: Montgomery; MI: Oakland; NC: Durham, Mecklenburg, Wake; NY: Kings, New York, Orange, Richmond

Staff Appraisers will benefit from the following at DataQuick:

  • NO EXCLUSIVE AGREEMENT REQUIRED

  • Medical, dental & vision insurance

  • 401(k) plan with Company match

  • FREE — $40K Life and AD&D policies

  • Direct deposit every (2) weeks

  • Tax advantage accounts—FSA & HSA options

  • FICA & FUTA payroll tax paid by the company

  • $250 reimbursement for continuing education costs

  • Dedicated Appraisal Processors and Support available

  • 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 with Asstistant Chief Appraiser and Chief Appraiser for technical support

Join Our Team!

For consideration please submit the following to dataquickappraisers@dataquick.com:
1. Appraiser License
2. Resume
3. Coverage Area
4. Two recent UAD reports with MC — 1004 and Condo

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