Appraiser Income

Appraiser	MADISON, WI	Gov	Department of Agriculture	09/23/2022
Appraiser	VERNON, TX	Gov	Department of Agriculture	09/23/2022
Appraiser	SULPHUR SPRINGS, TX	Gov	Department of Agriculture	09/23/2022
Appraiser	LUBBOCK, TX	Gov	Department of Agriculture	09/23/2022
Appraiser	FORT STOCKTON, TX	Gov	Department of Agriculture	09/23/2022
Appraiser	NASHVILLE, TN	Gov	Department of Agriculture	09/23/2022
Appraiser	MEMPHIS, TN	Gov	Department of Agriculture	09/23/2022
Appraiser	JACKSON, TN	Gov	Department of Agriculture	09/23/2022
Appraiser	CHATTANOOGA, TN	Gov	Department of Agriculture	09/23/2022
Appraiser	WATERTOWN, NY	Gov	Department of Agriculture	09/23/2022
Appraiser	TROY, NY	Gov	Department of Agriculture	09/23/2022
Appraiser	STOCKTON, NY	Gov	Department of Agriculture	09/23/2022
Appraiser	HIGHLAND, NY	Gov	Department of Agriculture	09/23/2022
Appraiser	EAST LANSING, MI	Gov	Department of Agriculture	09/23/2022
Appraiser	CHARLOTTE, MI	Gov	Department of Agriculture	09/23/2022
Appraiser	CARO, MI	Gov	Department of Agriculture	09/23/2022
Appraiser	SPRINGFIELD, IL	Gov	Department of Agriculture	09/23/2022
Appraiser	ROCKFORD, IL	Gov	Department of Agriculture	09/23/2022
Appraiser	TEXARKANA, AR	Gov	Department of Agriculture	09/23/2022
Appraiser	LITTLE ROCK, AR	Gov	Department of Agriculture	09/23/2022
Appraiser	JONESBORO, AR	Gov	Department of Agriculture	09/23/2022
Appraiser	FAYETTEVILLE, AR	Gov	Department of Agriculture	09/23/2022

Vacancy No.	FSA-22-11639484-DE-DAFLP-MC	Department	Farm Service Agency
Salary	$88,789.00 to $115,430.00	Grade	12 to 12
Perm/Temp	Permanent	FT/PT	Full-time
Open Date	9/13/2022	Close Date	9/23/2022
Job Link	Apply Online	Who may apply	Status Candidates

Summary

This position is located in the Farm Service Agency, Deputy Administrator for Farm Loan Programs, Program Operations and Appraisals Division.

Position may be remote in the states of AR, IL, MI, NY, TN, TX and WI for qualified candidates

This position provides the opportunity for recruitment incentive up to $19,840 based on eligibility requirements.

Relocation incentive opportunity available for federal employee incumbent movement to Texas or within Texas to an area of higher appraisal volume.Overview

• Open & closing dates09/13/2022 to 09/23/2022
• Salary$88,789 – $115,430 per year
• Pay scale & gradeGS 12
• Locations4 vacancies in the following locations:
  • Fayetteville, AR
  • Jonesboro, AR
  • Little Rock, AR
  • Texarkana, AR
  • Rockford, IL
  • Springfield, IL
  • Caro, MI
  • Charlotte, MI
  • East Lansing, MI
  • Highland, NY
  • Jamestown, NY
  • Troy, NY
  • Watertown, NY
  • Chattanooga, TN
  • Jackson, TN
  • Memphis, TN
  • Nashville, TN
  • Fort Stockton, TX
  • Lubbock, TX
  • Sulphur Springs, TX
  • Vernon, TX
  • Madison, WI
• Remote jobNo
• Telework eligibleYes—as determined by the agency policy.
• Travel RequiredOccasional travel – You may be expected to travel for this position.
• Relocation expenses reimbursedYes— For TX, federal employee incumbent only.
• Appointment typePermanent –
• Work scheduleFull-time –
• ServiceCompetitive
• Promotion potentialNone
• Job family (Series)1171 Appraising
• Supervisory statusNo
• Security clearanceNot Required
• Drug testNo
• Position sensitivity and riskModerate Risk (MR)
• Trust determination processCredentialingSuitability/Fitness
• Announcement numberFSA-22-11639484-DE-DAFLP-MC
• Control number676800900

This job is open to

• Career transition (CTAP, ICTAP, RPL)Federal employees who meet the definition of a “surplus” or “displaced” employee.
• The publicU.S. Citizens, Nationals or those who owe allegiance to the U.S.

Duties

• Applies a wide range of standard appraisal concepts, principles and practices to determine the market value of real property and chattel property associated with direct and guaranteed loan making and loan servicing activities.
• Evaluates impact of new or modified appraisal, real estate, tax, and agricultural legislation on current and projected appraisal standards.
• Serves, as required, as the technical expert representative and/or witness in legal or Agency appeal proceedings to justify complex and complicated appraisals, including those performed by contracted appraisers.
• Applies and correlates the basic valuation approaches and modifies and adapts standard appraisal techniques to estimate property values.

Requirements Conditions of Employment

• You must be a US Citizen or US National
• Males born after 12/31/1959 must be Selective Service registered or exempt
• Subject to satisfactory adjudication of background investigation and/or fingerprint check
• Successful completion of one-year probationary period, unless previously served.
• Direct Deposit: Per Public Law 104-134 all Federal employees are required to have federal payments made by direct deposit to their financial institution
• Successfully pass the E-Verify employment verification check. To learn more about E-Verify, including your rights and responsibilities, visit E-Verify at https://www.e-verify.gov/

QualificationsFor the GS-12 level: One full-time year of specialized work experience equivalent in difficulty and responsibility to the GS-11 level in the Federal service. Specialized experience must demonstrate experience in applying a wide range of appraisal concepts, principles, practices, and techniques in order to determine market value of real and chattel property which have complex characteristics and complicated valuation problems.

SELECTIVE PLACEMENT FACTOR: A current Certified General Appraiser license in at least one state whose certification standards comply with the minimum Federal standards for general appraiser certification in compliance with Title XI of the Financial Institution Reform, Recovery, and Enforcement Act of 1989 (FIRREA) (You must provide a copy of your current appraiser license with your application in order to be considered).

Applicants must meet all qualifications and eligibility requirements by the closing date 09/23/2022 of the announcement including specialized experience and/or education, as defined.

The positions are remote work eligible. Remote work allows employee the opportunity to work from residence. Location Negotiable After Selection. Duty location will be determined upon selection and must be within any of the States below:

• Wisconsin
• Illinois
• Michigan
• New York
• Tennessee
• Arkansas

Incumbent for Texas, location priority would be:

• Dallas-Fort Worth, TX (Hopkins County)
• Lubbock, TX (Lubbock County)
• Vernon, TX (Wilbarger County)
• Fort Stockton, TX (Pecos County)

Relocation incentive available for incumbent federal employee only.

For more information on the qualifications for this position, click here: http://www.opm.gov/qualifications/Standards/group-stds/gs-admin.asp.

Experience refers to paid and unpaid experience, including volunteer work done through National Service programs (e.g., Peace Corps, AmeriCorps) and other organizations (e.g., professional; philanthropic; religious; spiritual; community, student, social). Volunteer work helps build critical competencies and can provide valuable training and experience that translates directly to paid employment. You will receive credit for all qualifying experience, including volunteer experience.Education

THE SUBSTITUTION OF EDUCATION FOR EXPERIENCE IS NOT QUALIFYING AT THE GS-12 LEVEL.Additional information

• Career Transition Assistance Plan (CTAP), Reemployment Priority List (RPL), or Interagency Career Transition Assistance Plan (ICTAP): Visit the OPM website for information on how to apply as a CTAP, RPL, or ICTAP eligible. To exercise selection priority for this vacancy, CTAP/RPL/ICTAP candidates must meet the basic eligibility requirements and all selective factors. CTAP/ICTAP candidates must be rated and determined to be well qualified (or above) based on an evaluation of the competencies listed in the How You Will Be Evaluated section. When assessed through a score-based category rating method, CTAP/ICTAP applicants must receive a rating of at least 85 out of a possible 100.
• This position is eligible for telework within the local commuting area of the position, remote work, and other flexible work arrangements. Current USDA policy includes telework for an 8 hour work day, 4 days per week; remote work from residence and other flexibilities are possible dependent upon availability and/or the position and its associated duties. Employee participation is at the discretion of the supervisor.
• Recruitment and/or relocation incentives may be authorized. Relocation incentive may be authorized to or within TX for federal employee incumbent only.

Benefits

A career with the U.S. government provides employees with a comprehensive benefits package. As a federal employee, you and your family will have access to a range of benefits that are designed to make your federal career very rewarding. Opens in a new windowLearn more about federal benefits.

Eligibility for benefits depends on the type of position you hold and whether your position is full-time, part-time or intermittent. Contact the hiring agency for more information on the specific benefits offered.How You Will Be Evaluated

You will be evaluated for this job based on how well you meet the qualifications above.

Applications will be evaluated in accordance with Office of Personnel Management’s (OPM) Delegated Examining Procedures and USDA policy using category rating. Applicants who meet basic minimum qualifications will be placed in one of three categories: Best Qualified, Well Qualified, or Qualified. Within these categories, applicants eligible for veteran’s preference will receive selection priority over non-veterans. Category placement will be determined based on applicants’ quality of experience and the extent they possess the following knowledge, skills, and abilities (KSA) or competencies:

• Customer Service
• Oral Communication
• Problem Solving
• Technical Competence

Your application, including the online Assessment Questionnaire, will be reviewed to determine if you meet (a) minimum qualification requirements and (b) the resume supports the answers provided to the job-specific questions. Your resume must clearly support your responses to all the questions addressing experience and education relevant to this position. Those determined to be in the best qualified category will be referred to the selecting official for consideration.

Note: If, after reviewing your resume and/or supporting documentation, a determination is made that you have inflated your qualifications and or experience, your score may be adjusted to more accurately reflect your abilities, or you may be found ineligible. Please follow all instructions carefully. Errors or omissions may affect your rating. Providing inaccurate information on Federal documents could be grounds for non-selection or disciplinary action up to including removal from the Federal service.

Clicking the link below will present a preview of the application form; i.e. the online questionnaire. The application form link below will only provide a preview and does not initiate the application process. To initiate the online application process, click the “Apply” button to the right.

To view the application form, visit: https://apply.usastaffing.gov/ViewQuestionnaire/11639484Benefits

A career with the U.S. government provides employees with a comprehensive benefits package. As a federal employee, you and your family will have access to a range of benefits that are designed to make your federal career very rewarding. Opens in a new windowLearn more about federal benefits.

Eligibility for benefits depends on the type of position you hold and whether your position is full-time, part-time or intermittent. Contact the hiring agency for more information on the specific benefits offered.Required Documents

As a new or existing federal employee, you and your family may have access to a range of benefits. Your benefits depend on the type of position you have – whether you’re a permanent, part-time, temporary or an intermittent employee. You may be eligible for the following benefits, however, check with your agency to make sure you’re eligible under their policies.

The following documents are required for your applicant package to be complete. Our office cannot be responsible for incompatible software, your system failure, etc. Encrypted documents will not be accepted. Failure to submit required, legible documents may result in loss of consideration.

• Resume that includes:1) personal information such as name, address, contact information; 2) education; 3) detailed work experience related to this position as described in the major duties including work schedule, hours worked per week, dates of employment; title, series, grade (if applicable); 4) other qualifications.
• A current Certified General Appraiser license in at least one state whose certification standards comply with the minimum Federal standards for general appraiser certification in compliance with Title X of the Financial Institution Reform, Recover, and Enforcement Act of 1989 (FIRREA). (You must provide a copy of your current appraiser license certificate with your application in order to be considered).
• If claiming veteran’s preference, you must submit a DD214, Certificate of Release from Active Duty, which shows dates of service and discharge under honorable conditions. If currently on active duty you must submit a certification of expected discharge or release from active duty service under honorable conditions not later than 120 days after the date the certification is submitted. Veteran’s preference must be verified prior to appointment. Without this documentation, you will not receive veteran’s preference and your application will be evaluated based on the material(s) submitted.
• If claiming 10-point veteran’s preference you must provide the DD214 or certification requirements (see above bullet), plus the proof of entitlement of this preference as listed on the SF-15 Application for 10-point Veterans’ Preference. The SF-15 should be included but is not required. Failure to submit these documents could result in the determination that there is insufficient documentation to support your claim for 10-point preference. For more information on veterans’ preference visit FEDSHIREVETS
• Surplus or displaced employees eligible for CTAP, RPL, or ICTAP priority must provide: proof of eligibility (RIF separation notice, notice of proposed removal for declining a transfer of function or directed reassignment to another commuting area, notice of disability annuity termination), SF-50 documenting separation (as applicable), and your most recent SF-50 noting position, grade level, and duty location with your application per 5 CFR 330.

If you are relying on your education to meet qualification requirements:

Education must be accredited by an accrediting institution recognized by the U.S. Department of Education in order for it to be credited towards qualifications. Therefore, provide only the attendance and/or degrees from schools accredited by accrediting institutions recognized by the U.S. Department of Education.

Failure to provide all of the required information as stated in this vacancy announcement may result in an ineligible rating or may affect the overall rating.How to Apply

Please read the entire announcement and all instructions before you begin. You must complete this application process and submit all required documents electronically by 11:59 p.m. Eastern Time (ET) on the closing date of this announcement.

Applying online is highly encouraged. We are available to assist you during business hours (normally 8:00 a.m. – 4:00 p.m., Monday – Friday). If applying online poses a hardship, contact the Agency Contact listed below well before the closing date for an alternate method. All hardship application packages must be complete and submitted no later than noon ET on the closing date of the announcement in order to be entered into the system prior to its closing.

This agency provides reasonable accommodation to applicants with disabilities on a case-by-case basis; contact the Agency Contact to request this.

To begin, click “Apply” and follow the instructions to complete the Assessment Questionnaire and attach your resume and all required documents.

NOTE: If a document is resubmitted, it replaces the previous submission, which means the previous document is no longer available to the Human Resources Office. If you are adding to, rather than replacing a previous submission, you must upload both the old document and the new document. You must verify that uploaded documents from USAJOBS transfer into the Agency’s staffing system as there is a limitation to the number of documents that can be transferred. However, once in the Agency’s staffing system, you will have the opportunity to upload additional documents. Applicants may combine all like required documents (e.g. SF-50s or veteran docs) into one or more files and scan for uploading into the application. Each file must not exceed 3MB. Grouping like documents into files will simplify the application process. Documents must be in one of the following formats: GIF, JPEG, JPG, PDF, PNG, RTF, or Word (DOC or DOCX). Uploaded documents may not require a password, digital signature, or other encryption to open.Agency contact information Melissa ConawayEmail

melissa.may2@usda.govAddressFarm Service Agency
1400 Independence Ave SW
Washington, DC 20250
USLearn more about this agencyNext steps

Your application will be reviewed to verify that you meet the eligibility and qualification requirements for the position prior to issuing referral lists to the selecting official. If further evaluation or interviews are required, you will be contacted. Log in to your USAJOBS to check your application status. We expect to make a final job offer approximately 40 days after the deadline for applications.

Multiple positions may be filled from this announcement.Fair and Transparent

The Federal hiring process is set up to be fair and transparent. Please read the following guidance.

• Equal Employment Opportunity (EEO) Policy
• Reasonable accommodation policy
• Financial suitability
• Selective Service
• New employee probationary period
• Signature and false statements
• Privacy Act
• Social security number request

Required Documents

The following documents are required for your applicant package to be complete. Our office cannot be responsible for incompatible software, your system failure, etc. Encrypted documents will not be accepted. Failure to submit required, legible documents may result in loss of consideration.

• Resume that includes:1) personal information such as name, address, contact information; 2) education; 3) detailed work experience related to this position as described in the major duties including work schedule, hours worked per week, dates of employment; title, series, grade (if applicable); 4) other qualifications.
• A current Certified General Appraiser license in at least one state whose certification standards comply with the minimum Federal standards for general appraiser certification in compliance with Title X of the Financial Institution Reform, Recover, and Enforcement Act of 1989 (FIRREA). (You must provide a copy of your current appraiser license certificate with your application in order to be considered).
• If claiming veteran’s preference, you must submit a DD214, Certificate of Release from Active Duty, which shows dates of service and discharge under honorable conditions. If currently on active duty you must submit a certification of expected discharge or release from active duty service under honorable conditions not later than 120 days after the date the certification is submitted. Veteran’s preference must be verified prior to appointment. Without this documentation, you will not receive veteran’s preference and your application will be evaluated based on the material(s) submitted.
• If claiming 10-point veteran’s preference you must provide the DD214 or certification requirements (see above bullet), plus the proof of entitlement of this preference as listed on the SF-15 Application for 10-point Veterans’ Preference. The SF-15 should be included but is not required. Failure to submit these documents could result in the determination that there is insufficient documentation to support your claim for 10-point preference. For more information on veterans’ preference visit FEDSHIREVETS
• Surplus or displaced employees eligible for CTAP, RPL, or ICTAP priority must provide: proof of eligibility (RIF separation notice, notice of proposed removal for declining a transfer of function or directed reassignment to another commuting area, notice of disability annuity termination), SF-50 documenting separation (as applicable), and your most recent SF-50 noting position, grade level, and duty location with your application per 5 CFR 330.

If you are relying on your education to meet qualification requirements:

Education must be accredited by an accrediting institution recognized by the U.S. Department of Education in order for it to be credited towards qualifications. Therefore, provide only the attendance and/or degrees from schools accredited by accrediting institutions recognized by the U.S. Department of Education.

Failure to provide all of the required information as stated in this vacancy announcement may result in an ineligible rating or may affect the overall rating.How to Apply

Please read the entire announcement and all instructions before you begin. You must complete this application process and submit all required documents electronically by 11:59 p.m. Eastern Time (ET) on the closing date of this announcement.

Applying online is highly encouraged. We are available to assist you during business hours (normally 8:00 a.m. – 4:00 p.m., Monday – Friday). If applying online poses a hardship, contact the Agency Contact listed below well before the closing date for an alternate method. All hardship application packages must be complete and submitted no later than noon ET on the closing date of the announcement in order to be entered into the system prior to its closing.

This agency provides reasonable accommodation to applicants with disabilities on a case-by-case basis; contact the Agency Contact to request this.

To begin, click “Apply” and follow the instructions to complete the Assessment Questionnaire and attach your resume and all required documents.

NOTE: If a document is resubmitted, it replaces the previous submission, which means the previous document is no longer available to the Human Resources Office. If you are adding to, rather than replacing a previous submission, you must upload both the old document and the new document. You must verify that uploaded documents from USAJOBS transfer into the Agency’s staffing system as there is a limitation to the number of documents that can be transferred. However, once in the Agency’s staffing system, you will have the opportunity to upload additional documents. Applicants may combine all like required documents (e.g. SF-50s or veteran docs) into one or more files and scan for uploading into the application. Each file must not exceed 3MB. Grouping like documents into files will simplify the application process. Documents must be in one of the following formats: GIF, JPEG, JPG, PDF, PNG, RTF, or Word (DOC or DOCX). Uploaded documents may not require a password, digital signature, or other encryption to open.Agency contact information Melissa ConawayEmail

melissa.may2@usda.govAddressFarm Service Agency
1400 Independence Ave SW
Washington, DC 20250
USLearn more about this agencyNext steps

Your application will be reviewed to verify that you meet the eligibility and qualification requirements for the position prior to issuing referral lists to the selecting official. If further evaluation or interviews are required, you will be contacted. Log in to your USAJOBS to check your application status. We expect to make a final job offer approximately 40 days after the deadline for applications.

Multiple positions may be filled from this announcement.Fair & Transparent

The Federal hiring process is set up to be fair and transparent. Please read the following guidance.

• Equal Employment Opportunity (EEO) Policy
• Reasonable accommodation policy
• Financial suitability
• Selective Service
• New employee probationary period
• Signature and false statements
• Privacy Act
• Social security number request

Overview

• Open & closing dates09/13/2022 to 09/23/2022
• Salary$88,789 – $115,430 per year
• Pay scale & gradeGS 12
• Locations4 vacancies in the following locations:
  • Fayetteville, AR
  • Jonesboro, AR
  • Little Rock, AR
  • Texarkana, AR
  • Rockford, IL
  • Springfield, IL
  • Caro, MI
  • Charlotte, MI
  • East Lansing, MI
  • Highland, NY
  • Jamestown, NY
  • Troy, NY
  • Watertown, NY
  • Chattanooga, TN
  • Jackson, TN
  • Memphis, TN
  • Nashville, TN
  • Fort Stockton, TX
  • Lubbock, TX
  • Sulphur Springs, TX
  • Vernon, TX
  • Madison, WI
• Remote jobNo
• Telework eligibleYes—as determined by the agency policy.
• Travel RequiredOccasional travel – You may be expected to travel for this position.
• Relocation expenses reimbursedYes— For TX, federal employee incumbent only.
• Appointment typePermanent –
• Work scheduleFull-time –
• ServiceCompetitive
• Promotion potentialNone
• Job family (Series)1171 Appraising
• Supervisory statusNo
• Security clearanceNot Required
• Drug testNo
• Position sensitivity and riskModerate Risk (MR)
• Trust determination processCredentialingSuitability/Fitness
• Announcement numberFSA-22-11639484-DE-DAFLP-MC
• Control number676800900

Wow, what a difference a few months make. I know many of us are struggling with the lack of work at this time, but hopefully this will be a short term thing and work will go back to business as usual as it has in the past.

Over the past few years I am sure most of us have made the most you have ever made as a real estate appraiser, but just like in 2007, we all knew things had to change at some point.

For all of you that survived through the last real estate downturn when there was no work for months upon end, things eventually started to turn around and business just increased from that point.

So hang in there, stay positive and look for other ways to generate more appraiser income. Start working on expanding your non-lender work again and sign up to more AMCs. Talk with other appraisers online and find out what they are doing to survive.

Most appraisers outside of your work area, and even some of those in the same area are more than willing to share what is working for them. There are so many great groups on facebook that you can become a part of and connect directly with those that are interested in sharing information.

For now the Appraiser’s Club is closed because I want to revamp it to make it more functional. I hope to get back to teaching all my non-lender marketing techniques and how I get the most out of working with the AMCs. But after years of working 60-80 hour weeks I am not quite ready to jump in to redeveloping the website. If you are signed up to my newsletter, you will receive a notification when the club is available again.

Sorry I haven’t posted in a long time and I hope to be here again for you during this slow period.

I will also start posting job notifications for appraisers if you are looking for a paid position during this time.

Thanks again for being a loyal reader!

~ Bryan Knowlton

As most are well aware Jan Bellas is a very important executive member of the AGA.  She works tirelessly for our members to help get them the results they need without a great deal of compensation for her efforts.  

Recently Jan suffered the loss of her husband due to Covid and cancer.  With that loss, comes the financial burden associated with it as well as having to take time off from performing her duties  at the AGA for all members.   

I am starting this fundraiser in the hopes that we all can give back and help Jan get through these trying times.   Jan fights very hard for all of our members, she puts in a great deal of time and energy into all cases that come before her and she does it because she cares about the profession and appraisers. 

Let’s show Jan some of that same support and care she gives to all of us by helping her during her time of need.  

Thank you for your support. 

Mark J Skapinetz. President AGA.  

~ even though their goal has been met, please continue to help! ~ Bryan

https://www.gofundme.com/f/help-jan-bellas-of-the-aga/

Howdy to all my fellow appraisers! I know it has been an incredibly long time since I have made a post or updated this website or the Appraisers Club.

The past few years have been EXTREMELY busy to say the least and I am sure many appraisers are in the same boat. I can only hope so! It has been very hard to focus on anything other than completing appraisals and spending time with my family during these unprecedented times.

I just wanted to reach out briefly and thank you to everyone that has supported my online ventures in the past and will hopefully be making some free offerings in the beginning of next year to help other appraisers get more non-lender work.

Hope everyone is doing well, stay safe out there!

~ Bryan

UPDATED: JANUARY 01, 2020

2020 Appraisal Management Company Directory Fully Updated for 2020 Now With over 200 AMCs Listed TOP 46 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 Do you want more appraisal orders? Are you looking to recession proof your appraisal business by getting more Estate and FHA appraisal requests? Have you signed up to appraisal management companies and are still not getting any offers from the AMCs? Do you need a GOOD list with all the bad guys removed? Don’t Hesitate! If you have any questions please contact me any time during the day! email me at bryan@appraiserincome.com and I will get back to you immediately!!!

…continue reading the rest of this post: 2020 AMC DIR Available NOW

Responding to presidential candidate Joe Biden’s call to “establish a national standard for housing appraisals,” the Appraisal Institute said March 2 that a new standard is “unnecessary … because one already exists.”

 The Appraisal Institute’s letter to Biden’s campaign agreed with his stated desire to end discriminatory and unfair practices in the housing market, and it noted that AI shares his expressed wish to tackle any racial bias that could lead to homes in communities of color potentially being appraised below their market value. 

“But the reality is that national appraisal standards and ethics requirements already require appraisers to perform their work with impartiality, objectivity and independence, without bias,” said the letter from Appraisal Institute 2020 President Jefferson L. Sherman, MAI, AI-GRS. “Real estate appraisers are not the culprit.” 

The Appraisal Institute’s letter noted that under the Uniform Standards of Professional Appraisal Practice, known as USPAP, appraisers “must not use or rely on unsupported conclusions relating to characteristics such as race, color, religion, national origin, gender, marital status, familial status, age, receipt of public assistance income, handicap, or an unsupported conclusion that homogeneity of such characteristics is necessary to maximize value.”  

AI’s letter also said: “To be quite frank, the assertion that appraisers would systematically undervalue or overvalue real estate due to these factors is absurd and shows a profound misunderstanding of the real estate valuation profession. Appraisers have nothing to gain by such behavior, and in doing so we would lose the hard-fought public trust we have achieved over many, many years.” 

The letter concluded: “Since national appraisal standards and ethics requirements already are in place, and since those requirements are enforced as law, there is no need for additional standards.

We urge you to reconsider your position, and we look forward to working with you to tackle community and economic development challenges facing this country.” 

Read the Appraisal Institute’s letter to the Biden campaign. See Biden’s housing position on his website.

original article: https://www.appraisalinstitute.org/ano/ai-opposes-bidens-call-for-more-appraisal-standards/

• ATTOM Staff
• January 21st, 2020
• Home Sales & PricesMost Recent Articles

Median Home Sales Prices Reach Record High of $258,000 in 2019; Homeowners Staying Put Longer as Average Homeownership Tenure Rises to New High

IRVINE, Calif. – Jan. 23, 2020 — ATTOM Data Solutions, curator of the nation’s premier property database and first property data provider of Data-as-a-Service (DaaS), today released its Year-End 2019 U.S. Home Sales Report, which shows that home sellers nationwide in 2019 realized a home price gain of $65,500 on the typical sale, up from $58,100 last year and up from $50,027 two years ago. The latest profit figure, based on median purchase and resale prices, marked the highest level in the United States since 2006 – a 13-year high.

That $65,500 typical home seller profit represented a 34 percent return on investment compared to the original purchase price, up from 31.4 percent last year and up from 27.4 percent in 2017, to the highest average home-seller ROI since 2006.

Both raw profits and ROI have improved nationwide for eight straight years. However, last year’s gain in ROI – up less than three percentage points – was the smallest since 2011.

“The nation’s housing boom kept roaring along in 2019 as prices hit a new record, returning ever-higher profits to home sellers and posing ever-greater challenges for buyers seeking bargains. In short, it was a great year to be a seller,” said Todd Teta, chief product officer at ATTOM Data Solutions. “But there were signs that the market was losing some steam last year, as profits and profit margins increased at the slowest pace since 2011. While low mortgage rates are propping up prices, the declining progress suggests some uncertainty going into the 2020 buying season.”

Among 220 metropolitan statistical areas with a population greater than 200,000 and sufficient historical sales data, those in western states continued to reap the highest returns on investments, with concentrations on or near the west coast. Metro areas with the highest home seller ROIs were in San Jose, CA (82.8 percent); San Francisco, CA (72.8 percent); Seattle, WA (65.6 percent); Merced, CA (63.2 percent) and Salem, OR (62.1 percent). The top four in 2019 were the same areas that topped the list in 2018.

WASHINGTON, DC – In 2020, consumer spending, business fixed investment, and housing are all expected to contribute meaningfully to another year of positive growth in what continues to be the longest economic expansion in U.S. history, according to the latest commentary from the Fannie Mae (FNMA/OTCQB) Economic and Strategic Research (ESR) Group. The full-year 2020 growth forecast stands at 2.1 percent, while full-year 2019 real GDP growth was upgraded by one-tenth in the January forecast to 2.4 percent due to an unexpectedly strong contribution from net exports.

“While we believe the strength and resilience of the American consumer is the lynchpin of near-trend GDP growth, this year we expect consumer demand to re-establish housing construction as a significant contributor to economic growth – hence our theme for the year: A resilient economy overcomes risks to drive housing,” said Fannie Mae Senior Vice President and Chief Economist Doug Duncan. “Strong labor markets, rising wages, and improved household balance sheets offer consumer spending upside potential, including the ability to withstand minor economic disruptions.”

“Simmering geopolitical tensions, trade concerns, potential equity overvaluation, and weakening manufacturing data suggest the risks to our forecast are skewed slightly to the downside, while accelerating global growth and consumer spending power offer upside and greater balance than in previous forecasts,” said Duncan. “We also continue to expect the Fed to maintain its hands-off approach to monetary policy in the new year, with no changes to the target federal funds rate despite persistently low inflation.”

Continued strength in labor markets and household balance sheets support the ESR Group’s expectation that consumer spending will remain both healthy and resilient – and perhaps even surprise to the upside – through 2021. Lackluster manufacturing data in the fourth quarter did lead the Group to pull forward into 2020 its forecast of a prolonged uptick in business fixed investment (BFI), with BFI now forecast to accelerate from 0.3 percent annual growth in 2019 to 2.9 percent in 2020.

The ESR Group also expects housing to carry into 2020 its late-2019 reemergence as a source of economic strength. Single-family construction is expected to report solid growth, with housing starts accelerating due to strong permits data and growing optimism among homebuilders. Low mortgage rates and labor market strength should continue to provide demand support, as made evident in part by the Fannie Mae Home Purchase Sentiment Index® re-approaching its survey high in recent months.

“Strong consumer demand and low mortgage rates – as well as moderate improvements to supply – have housing well-positioned for a come-back year in 2020,” Duncan continued. “While we expect housing to regain its place as an economic growth driver after a period of relative sluggishness, we recognize that the problems of affordability and inventory are likely to persist for the forecast horizon. Homebuilders have begun to accelerate the pace of single-family construction, including in the much-needed affordable space, but supply constraints still exist. In many areas, that demand-supply imbalance continues to contribute to entry-level home prices outpacing wage gains, exacerbating the affordability challenge.”

Visit the Economic & Strategic Research site at fanniemae.com to read the full January 2020 Economic Outlook, including the Economic Developments Commentary, Economic Forecast, Housing Forecast, and Multifamily Market Commentary. To receive e-mail updates with other housing market research from Fannie Mae’s Economic & Strategic Research Group, please click here.

Opinions, analyses, estimates, forecasts, and other views of Fannie Mae’s Economic & Strategic Research (ESR) Group included in these materials should not be construed as indicating Fannie Mae’s business prospects or expected results, are based on a number of assumptions, and are subject to change without notice. How this information affects Fannie Mae will depend on many factors. Although the ESR Group bases its opinions, analyses, estimates, forecasts, and other views on information it considers reliable, it does not guarantee that the information provided in these materials is accurate, current, or suitable for any particular purpose. Changes in the assumptions or the information underlying these views could produce materially different results. The analyses, opinions, estimates, forecasts, and other views published by the ESR Group represent the views of that group as of the date indicated and do not necessarily represent the views of Fannie Mae or its management.

UPDATED: JANUARY 01, 2020

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The U.S. Census Bureau’s Survey of Construction’s (SOC) estimate of the number of bedrooms in new single-family homes has shown a declining trend for homes with 4 bedrooms or more since 2015. The most recent SOC data show the number of bedrooms of new homes whose construction began in 2018 (new homes started).

Nationally, the number of single-family homes started with 4 bedrooms or more declined from 44.8% in 2017 to 43.5% in 2018. These developments are linked to changes in preferences among home buyers. With more Millennials becoming prepared to buy their first home, the starter home share will rise, which means smaller homes and slightly fewer bedrooms.

Historically, new homes started with 3 or 4 bedrooms have held the highest shares and new homes started with 2 bedrooms or less or 5 bedrooms or more have held the lowest shares. The declining trend mirrors the downward trend of new single-family home size.

As of 2018, the share of new single-family homes started with 3 bedrooms was the highest of all categories, at 45%, with those with 4 bedrooms trailing at 34%. The lowest two categories were new homes started with 2 bedrooms or less and 5 bedrooms or more, with shares of only 11% and 9%, respectively.

Regionally, most Census divisions show declines for the typical number of bedrooms in single-family homes. An exception is the West North Central region, which experienced a slight rising trend.