28th February 2018

Appraising with Regression

I thought this was a great article on regression that I wanted to reprint from WorkingRE.  You can find the link to the entire article below.

Editor’s Note: In life after Collateral Underwriter (CU), appraisers are eager to understand how they can create statistical support for their adjustments and value results. In this story, author James Swartz provides a good primer for understanding regression and appraising.

Appraising with Regression
By James A Swartz, PhD.

As a real estate appraiser, you are interested in determining how a set of characteristics such as the number of baths and bedrooms, total s As a real estate appraiser, you are interested in determining how a set of characteristics such as the number of baths and bedrooms, total square feet, and others, affects the value of a property. …continue reading the rest of this post: Appraising with Regression

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27th February 2018

AI Joins Coalition Opposing Bank’s Temporary Appraisal Waiver Request

The Appraisal Institute has joined a coalition of more than 20 real estate industry organizations opposed to TriStar Bank’s request for a temporary waiver from appraiser certification requirements.

In a Feb. 13 letter to the Appraisal Subcommittee, the coalition urged that the request be rejected for not satisfying the requirements established under ASC regulations, pointing out that, contrary to TriStar’s initial letter, there is a healthy supply of commercial appraisers throughout Tennessee, including in the four counties cited in the bank’s letter.

Separately, the coalition in a Feb. 8 letter urged the ASC to provide greater transparency in this matter by publishing the TriStar Bank response letter that elaborates on its initial request.

The Appraisal Subcommittee board is scheduled to be briefed on the request at its Feb. 14 meeting. No action is expected at this meeting; however, the ASC board could elect to hold a special meeting before its next scheduled board meeting to consider whether to send out the bank’s request for a 30-day public comment period. Should the ASC choose to do so, it would have 15 days to take any action — including the option to take no action.

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23rd February 2018

Wall Street turning to BPO Drive-Bys

When Blackstone Group LP wanted to borrow hundreds of millions of dollars to buy foreclosed homes after the housing crash, it needed a quick, inexpensive way to value thousands of houses the investment firm already owned and was offering as collateral.

Blackstone and its lender, Deutsche Bank AG, settled on a sort of drive-by valuation done by real-estate agents that are more cursory and cost far less than traditional appraisals.

…continue reading the rest of this post: Wall Street turning to BPO Drive-Bys

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22nd February 2018

Sacramento, we have a problem

This graph put out by the California Bureau of Real Estate Appraisers shows a significant problem with the appraisal industry.

 

From January 1 – June 30, 2017 there were no Trainee License examinations.  Wow!

The newest edition of the Bureau’s The California Appraiser newsletter is available on our website www.brea.ca.gov under Forms and Publications, BREA Newsletters.

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10th February 2018

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7th February 2018

Average Home Seller Profits at 10-Year High

IRVINE, Calif. – Feb. 1, 2018 — ATTOM Data Solutions, curator of the nation’s largest multi-sourced property database, today released its Year-End and Q4 2017 U.S. Home Sales Report, which shows that home sellers in Q4 2017 realized an average home price gain since purchase of $54,000, up from $53,732 in the previous quarter and up from $47,133 in Q4 2016 to the highest since Q3 2007 — a more than 10-year high.

That $54,000 average home seller profit represented an average 29.7 percent return on investment compared to the original purchase price, up from 28.8 percent in the previous quarter and up from 26.8 percent in Q4 2016 to the highest average home seller ROI since Q3 2007.

“It’s the most profitable time to sell a home in more than 10 years yet homeowners are staying put longer than we’ve ever seen,” said Daren Blomquist, senior vice president at ATTOM Data Solutions. “While home sellers on the West Coast are realizing the biggest profits, rapid home price appreciation in red state markets is rivaling that of the high-flying coastal markets and producing sizable profits for home sellers in those middle-American markets as well.” …continue reading the rest of this post: Average Home Seller Profits at 10-Year High

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5th February 2018

Fee Survey Revisited

I can’t believe it, I was going through notes on articles to write for 2017 and I totally missed the 2017 Appraisal Fee Survey from WorkingRE.com.

So I thought I would post information about it today.  You can find links to each state and get individual city information from there.  This is a very detailed report.  Thanks again Isaac and David!

 

2017 Fee Survey: Analyzing the Data

By Isaac Peck and David Brauner, Working RE Magaizne

For the last few years the appraisal industry has been abuzz with talk of rising appraisal fees and longer turn times. AMCs complain of a shortage of appraisers and “price gouging” in certain markets (Colorado and Oregon, for instance); appraisers report modest success at raising their fees after years of frustration (See Fees Rising). …continue reading the rest of this post: Fee Survey Revisited

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1st February 2018

How does your website rank?

Hey Everyone! Hope you are having a great 2018 so far.  I was going to start off the year with an article about Yelp and why it is so important to your business, but I thought I better start off with a short post on appraiser websites and why they are so important.

Think of your website as the central hub for your marketing efforts, everything you do to market your appraisal services on the internet should link back to your website to help it show up in organic listings in the search engines and on mobile devices.

There are thousands of places to get websites built these days and I have to make the assumption that you already have a website if you are trying to get non-lender work.  If not, check out the Appraiser’s club for information on the websites we build and host for real estate appraisers.

Recently an appraiser told me about their relatively new website that they had built for them and they were not sure if they were getting any potential customers to their page.

One of the first things you want to determine is the number of people that contact you after they visit your website.   Even if your website is getting visits, it is worthless unless people are taking the next step to contact you.

Make sure your contact information is placed throughout the website and that you have a mobile version of your website as well.  That is a good starting point.

The next step you will probably want to take is to get some good analytics added to your website so you can see where that traffic is coming from, and if it is from the search engines, what keywords they are using to find your website.

You should be ranking for appraisal related terms as well as city or county specific terms within your primary market.  You can do a quick search to see if your website is showing up and to gauge your competition by going to google/yelp/bing and search for terms like:

[cityname] appraiser

[cityname] appraisal

You can also just leave off the [cityname] and see if you show up for

real estate appraiser

home appraiser

and terms like that.  That should give you a good idea of how you are showing up as well as your competition.

You can have thousands of visits a month, but if they are finding your website because you are ranking for the wrong terms (funny cat at appraisal, real estate for sale, etc….), then that traffic is pretty worthless to your appraisal business.

You want to determine your keywords as soon as possible, usually prior to building a website, but you can also make changes to your website to help the search engines and other websites determine it is actually an appraiser website.

So optimize your website for those primary keywords and use those keywords in your social profiles, throughout your websites, in your blog posts if your blog, when creating videos and in all of your marketing efforts.

I like to use google analytics to track my traffic.

Most likely if your website is showing on the first page of google, you are top ranking on all the other search engines.

The most important thing you should focus on this year will be your local search profiles.  After you have your website online you should definitely focus on Yelp, Google My Business and Facebook.  My next article will focus on why Yelp is so important to your business and how to claim your listing.

If you would like more information on optimizing your website, or getting a free optimized website by being a member of the Appraiser’s Club, please visit http://appraisersclub.com for more information and to attend one of our free webinars!

I hope you found this helpful!!

Bryan

posted in Appraiser Marketing | Comments Off on How does your website rank?



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