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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25th January 2018

Beige Book Released – January 17, 2018 – Summary of Commentary on Current Economic Conditions by Federal Reserve District,

This report was prepared at the Federal Reserve Bank of Atlanta based on information collected on or before January 8, 2018. This document summarizes comments received from contacts outside the Federal Reserve System and is not a commentary on the views of Federal Reserve officials.

Overall Economic Activity
Reports from the 12 Federal Reserve Districts indicated that the economy continued to expand from late November through the end of the year, with 11 Districts reporting modest to moderate gains and Dallas recording a robust increase. The outlook for 2018 remains optimistic for a majority of contacts across the country. Most Districts reported that non-auto retail sales expanded since the last report and that auto sales were mixed. Some retailers highlighted that holiday sales were higher than expected. Residential real estate activity remained constrained across the country. Most Districts reported little growth in home sales due to limited housing inventory. Nonresidential activity continued to experience slight growth. Most manufacturers reported modest growth in overall business conditions. Reports indicated that some manufacturers increased capital expenditures over the reporting period. Most reporting Districts noted continued growth in transportation activity. Loan volumes in many Districts were steady. Among reporting Districts, agricultural conditions were mixed and energy contacts described a slight uptick in activity.

…continue reading the rest of this post: Beige Book Released – January 17, 2018 – Summary of Commentary on Current Economic Conditions by Federal Reserve District,

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24th January 2018

Want to get some new clients in 2018?

Well then you need the 2018 Appraisal Management Company Directory.

I took the time to rewrite most of the marketing information in the beginning of the book as well as add a bunch of AMCs that have been sending me good assignments over the past year.

You can order it here

 

UPDATED: JANUARY 02, 2017

I wanted to let everyone know the new 2018 AMC Directory is Available NOW

    • Now With over 200 AMCs Listed
    • TOP 37 on the list send me 90% of all appraisal orders
    • TOP 10 on the list are my BEST clients
    • Money Back Guarantee

 

Published by a full time Real Estate Appraiser

This is the only list that has DIRECT links to the sign up pages.  You can’t get this type of information on any state website.  Website information, contact email addresses and phone numbers are all provided.

2018 APPRAISAL MANAGEMENT COMPANY DIRECTORY

200+ VERIFIED Appraisal Management Companies Listed!

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
– The AMC Application Process
– Links to online applications and emails
– List of Common Errors to Avoid
– Vendor Specific AMC Requirements
– Ordered by which companies that SEND ORDERS!
Bonus Chapters Included:
– Recession Proof Your Appraisal Business for the future
– Appraisal Company Marketing and how to maximize income
– Top Revenue Generating Techniques for 2016
– Maximizing Internet Orders through a top ranking website
– FHA Checklist and common errors to avoid

90% of my work come from the first 37 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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22nd January 2018

Housing Will Continue to Gain Ground in 2018

 

January 09, 2018

The newly enacted tax law will create a more favorable tax climate for the business community, which should spur job and economic growth and keep single-family housing production on a gradual upward trajectory in 2018, according to economists speaking at the NAHB International Builders’ Show® in Orlando, Fla., today.

“We expect that tax reform will boost GDP growth to 2.6 percent in 2018, and this added economic activity will also bode well for housing, although there will be some transition effects in high-tax jurisdictions,” said NAHB Chief Economist Robert Dietz. “Ongoing job creation, expected wage increases and tight existing home inventory will also boost the housing market in the year ahead.”

 

…continue reading the rest of this post: Housing Will Continue to Gain Ground in 2018

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19th January 2018

Louisiana Real Estate Appraisers Board Seeks Dismissal of FTC Complaint

The Federal Trade Commission announced Jan. 10 that it will hear oral arguments next month on motions filed by the FTC and the Louisiana Real Estate Appraisers Board. The LREAB in November filed a motion to dismiss the complaint filed against it by the FTC, while the FTC filed motions for partial summary judgment and for opposition to the LREAB’s motion to dismiss.

…continue reading the rest of this post: Louisiana Real Estate Appraisers Board Seeks Dismissal of FTC Complaint

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17th January 2018

ASA and NAIFA to Merge – Free Webinar

American Society of Appraisers – Education Update
Join Members of the ASA and NAIFA Merger Task Force in this Online Webinar

 

Do You Have Questions about the ASA/NAIFA Merger? We Have Your Answers. Learn More

This Webinar is FREE For Members and Non-Members

 

After a membership vote showing overwhelming support of the merger between ASA and NAIFA, the two organizations have reached an agreement creating one of the largest networks of U.S. professional real estate appraisers. As the effective date of July 1, 2018 quickly approaches, we are sure many questions have been raised. Members of the ASA and NAIFA Merger Task Force are hosting this online webinar, as they answer your questions on topics such as credentialing, dues, designations and chapters.

…continue reading the rest of this post: ASA and NAIFA to Merge – Free Webinar

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15th January 2018

2017 Voice of the Appraiser Report

Anyone else use boomerang with their Gmail accounts?  Well this has been bouncing back to me almost every week since November.

I have meant to make a post about it because everyone doesn’t know about it.  You can get it here.

A couple things I found interesting is that most of the appraisers surveyed in 2011 had typical fees of $300-400 an appraisal, that was the same number on the 2016 survey and increased to $400-500 in 2017 with almost an equal amount in the $300-400 and More than $500 responses.  That is great news as we are seeing the under $300 per appraisal fees slip away.  Those AMCs are a bunch of dirt bags that still try to charge under $300 an appraisal.   Don’t work for them! …continue reading the rest of this post: 2017 Voice of the Appraiser Report

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11th January 2018

AQB Meeting 02/01/2018 – Live Stream

Appraiser Qualifications Board

Public Meeting

Washington, DC – February 1, 2018

9:00 am – 12:00 pm EST

The Appraiser Qualifications Board (AQB) will conduct a Public Meeting on February 1, 2018, in Washington, DC, where input will be solicited on the Fourth Exposure Draft of Proposed Changes to the Real Property Appraiser Qualification Criteria. For the first time, the AQB will also be live streaming the meeting. All are encouraged to attend the meeting in person or watch remotely via live stream.

Questions? Please contact Magdalene Vasquez, Qualifications Board Program Manager and Editor at magdalene@appraisalfoundation.org.

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About The Appraisal Foundation

The Appraisal Foundation is the nation’s foremost authority on the valuation profession. The organization sets the Congressionally-authorized standards and qualifications for real estate appraisers, and provides voluntary guidance on recognized valuation methods and techniques for all valuation professionals. This work advances the profession by ensuring appraisals are independent, consistent, and objective. More information on The Appraisal Foundation is available atwww.appraisalfoundation.org.

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9th January 2018

Happy New Year!

Happy New Year 2018Happy New Year!

It has been quite a while since I made a post to Appraiser Income and I wanted to give a little update on my appraisal business and the projects I have planned for 2018.

The past 4 years have been a complete whirlwind with way too much work that I could ever handle on my own.  I really focused on getting the best AMC clients to work with that had the best policies and paid the best fees.

Unfortunately I lost most of my non-lender work because I just could not charge the same fees as most of my AMCs were paying.  Most of that work I referred to other appraisers I know in San Diego county and put all of my non-lender marketing on hold.

I tried out a couple trainees during that time and it never seemed to make sense in terms of the hours I was putting in to training someone.  I love the idea of trying to help others get in to the appraisal industry, but it is discouraging when you end up working more for less.  For a number of other reasons, it just did not work out for me.

So that being said, I usually work for a handful of great AMCs and the volume of work I do for them change from time to time.  It is constantly rotating with some companies getting slow or losing clients and others growing and providing plenty of work.  Some raise their fees during the time I work for them, many lower their fees and I stop completing appraisals for them.  It is constantly changing.

I see the industry changing quite a bit over the next few years and feel like I have put all my eggs in the same basket as I have done many times in the past.  While I should have kept the non-lender side of my business happy with the steady stream of orders that were coming in, I gave it all away.

At the same time one of the AMCs I have been getting about 20% of my work went to the ‘in house appraiser’ model.  I still get a few orders from them a month, but  I don’t see any volume coming back.  Luckily during that time I added some new clients and I still had the best year ever.

Before I get caught completely off guard I have decided in 2018 to focus again on marking my appraisal business for non-lender clients.   I am also going to share this information in my blog post as I have talked to many appraisers that say they miss the posts, podcast and marketing information.  I am going to start of focusing on this blog and will hopefully get the podcast going again and remake a bunch of the training videos for the Appraiser’s Club.

Those are big goals, but I feel there are going to be some big changes in our industry and if you want to stay a busy appraiser you need to make time and focus on getting that non-lender work.  That work never goes away and you can always charge customary and reasonable fees.

If you stay on top of your marketing with easy to use systems, you will keep them coming back forever.  Since it has been so long since I used my old systems I am going to research new software and systems and make tutorials on how to do this on your own or with the help of a virtual assistant.

Thanks again for great feedback I have received over the years and I hope to help out all my fellow appraisers with great marketing information!  If you have any tips and advice on what is working in your appraisal business, please reach out to me by emailing me : appraiser@quickerservice.com

Here is to an amazing and productive 2018!

Sincerely,

Bryan Knowlton

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