26th June 2019

40% of top economists expect Fed to cut rates over next year

The U.S. economy has been sending mixed signals in recent days, but the nation’s top economists say there’s likely more harm than good.

Escalating trade tensions between the U.S. and China, slowing growth around the world and waning fiscal stimulus are all acting as a headwind to growth, according to the 20 leading experts polled for Bankrate’s Second-Quarter Economic Indicator survey. The majority (80 percent) of respondents say that these risks are more heavily tilted toward the downside, while just 10 percent say they’re tilted toward the upside — down from 19 percent in the prior quarter’s survey.

“Monetary policy has overly tightened, and fiscal stimulus will dry up by the end of the year,” says Dan North, chief economist at Euler Hermes North America. “Add in trade fears, decaying housing and manufacturing sectors, global weakness, and geopolitical tensions, the result is definitely more downside risk.”

The U.S. economy has been sending mixed signals in recent days, but the nation’s top economists say there’s likely more harm than good.

…continue reading the rest of this post: 40% of top economists expect Fed to cut rates over next year

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25th June 2019

WATCH : The Appraisal Foundation President David Bunton’s Testimony Before Congress

The Appraisal Foundation President David Bunton testified before the Congress at a hearing entitled, “What’s Your Home Worth: A Review of the Appraisal Industry.”

Highlight video:

To learn more about Dave’s powerful defense of professional appraisers and the importance of appraisals, click on one or all of the options below:

Complete Video starting at 19.22

  • [If you watch the hearing, it starts at 8 mins 40 seconds. David’s testimony begins at 19.22] 

THIS IS A MUST LISTEN! WE NEED TO ALL GET INVOLVED IN PROTECTING OUR PROFESSION! ~ Bryan

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24th June 2019

I’m Teaching a Course at McKissock!

I just wanted to let everyone know that I am very excited to be teaching an online course over at McKissock! I am going to cover a lot of great stuff!

Appraisal Company Marketing Strategies that Work

Instructor: Bryan Knowlton
Wednesday, July 17, 201911:00 AM – 12:00 PM EST

In this professional development webinar, we’ll cover the top order-generating and new-client-acquiring strategies that are guaranteed to bring you more appraisal orders.  Using both online and offline marketing techniques, you will learn how to create a marketing strategy for your appraisal business that will bring you a constant flow of new work as well as retain past clients.  We will show you internet marketing secrets on how to position your company to receive the most work online and target your primary service areas to generate the most income as a real estate appraiser.

Bryan Knowlton is a Certified Real Estate Appraiser Serving San Diego County for over 19 years and has a BS in Marketing from San Diego State University.  He is the author of the “Appraisal Management Company Directory” as well as “No More Middlemen” – Non-Lender Marketing Guide that are published annually and available online.  Teaching others how to make more money as a real estate appraiser has been one of his primary goals for over the past 12 years by sharing free marketing information online at  AppraiserIncome.com.  Founder of the ‘Appraisers Club’ – a private marketing club for real estate appraisers.  Prior to becoming a real estate appraiser he was an internet marketing specialist helping small companies get their businesses online.

Join us on Wednesday, July 17 from 11AM-12PM ET for this one-hour, non-credit Pro-Series webinar.

Learn marketing strategies guaranteed to bring you more appraisal orders and generate more income. Read More

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27th May 2019

How Much Are Buyers Willing to Pay for Energy Efficiency?

On average, home buyers are willing to pay an additional $8,728 upfront on a home in order to save $1,000 a year in utility bills, according to NAHB’s recently released study, What Home Buyers Really Want (2019 Edition) (Figure 1). The study is based on a survey asking recent and prospective home buyers (people who bought homes in the previous three years or are planning to do so in the next three years) about what they want in a home and community.

It is important to note that while the average amount a home buyer is willing to pay is $8,728, the median is $5,000. The difference can be explained by the presence of some very green-motivated home buyers who are willing to pay more than $50,000 upfront to save $1,000 a year. It may also be the case that these particular home buyers have the means to make a bigger upfront payment. In fact, the study shows that home buyers who expect to pay more than $500,000 for their homes will pay an average of $10,560 more to achieve those savings, about 60 percent more than the $6,653 those buying the most modest homes (less than $150,000) are willing to pay.

An equivalent way to present this information is in terms of the rate of return a buyer requires on the up-front investment.  If a buyer is willing to pay $5,000 up front to save $1,000 a year, this means the buyer requires an annual return of 20 percent.

For more valuable data on green features and what home buyers are willing to trade off, please visit BuilderBooks.com and download the latest edition of What Home Buyers Really Want.

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25th May 2019

AI, Freddie Mac to Teach Valuation of Manufactured Homes

Appraising manufactured homes has its challenges. This new training course helps address them. 

A new generation of high-quality, factory-built homes is providing a popular alternative in affordable housing to millions of Americans. And Freddie Mac is making financing certain manufactured homes possible through its CHOICEHomeSM program. The program will also make it easier for appraisers to value manufactured homes by allowing valuation professionals the use of site-built homes as comparable sales where there is no CHOICEHome sales available to compare. 

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23rd May 2019

Read the latest issue of Valuation magazine : Appraisal Institute


First Quarter 2019 Valuation digital edition.


Residential Realities
Home price growth is slowing, housing inventories are tight, and a market correction is possible. And while appraisers working in the residential real estate sector say these trends can apply throughout the U.S., they note the reality is more nuanced: Each market essentially is local and has its own dynamics. 

Better Together?
The backbone of the valuation profession historically has been small, local shops run by hardworking entrepreneurs. Recently, the profession has moved in a different direction as a wave of consolidation has created larger industry players.
 Strong Vital Signs
Health care is one of the hottest real estate sectors right now, but in terms of valuation, it’s also one of the most complex. Aging baby boomers and an increase in the number of insured individuals are among the drivers pushing demand for new health care facilities.
Also read our newest columns:
On Point: Appraisal Institute President Stephen S. Wagner, MAI, SRA, AI-GRS, on how AI supports its nearly 80 chapters through events, education and administrative backing.
Legal Matters: Mistakes happen, but which ones will get an appraiser sued? An analysis of past claims reveals the top risks.
Front Lines: Warren B. Boizot III, SRA, on how the popularity of short-term vacation rentals is bringing new challenges for appraisers.Read all that and more in the 

First Quarter 2019 Valuation digital edition.

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21st May 2019

Appraiser Job in PEARL HARBOR, HI $91,242 to $118,612 per year

Vacancy No.DE-10495122-19-RFFDepartmentNaval Facilities Engineering Command
Salary$91,242.00 to $118,612.00Grade13 to 13
Perm/TempPermanentFT/PTFull-time
Open Date5/16/2019Close Date5/22/2019
Job LinkApplication instruction listed in job descriptionWho may applyPublic
Locations:
PEARL HARBOR, HI
…continue reading the rest of this post: Appraiser Job in PEARL HARBOR, HI $91,242 to $118,612 per year

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21st May 2019

Webinar 05/22 – USPAP Changes Explained

Webinar Tomorrow. Register Now!

Topic: 2020-21 USPAP Changes Explained

Wayne Miller, Chair of the Appraisal Standards Board, and John Brenan, Vice President Appraisal Issues at The Appraisal Foundation, will discuss how the adopted changes for the 2020-21 edition of USPAP balance appraiser flexibility while still protecting the public trust.Wayne and John will also answer your questions and comments.Send your questions to aida@appraisalfoundation.org

  WEBINARUSPAP Updates Explained
May 22, 2019
1:00 PM ET
Register
 Comment Now!AQB Discussion Draft on PAREAThe AQB wants to hear from you! The comment deadline for the Discussion Draft on the Practical Applications of Real Estate Appraisal is June 2, 2019.To review the Draft, click here. Send your comments to: AQBcomments@appraisalfoundation.org.

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20th May 2019

Review Appraiser in Ogden, UT for Forest Service $74,596.00 to $115,313.00

Vacancy No.19-R4SVMAY-0451-591696G-TBDepartmentForest Service
Salary$74,596.00 to $115,313.00Grade12 to 13
Perm/TempPermanentFT/PTFull-time
Open Date5/20/2019Close Date6/3/2019
Job LinkApplication instruction listed in job descriptionWho may applyStatus Candidates
Locations:
WORLDWIDE
…continue reading the rest of this post: Review Appraiser in Ogden, UT for Forest Service $74,596.00 to $115,313.00

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25th April 2019

Enhanced Appraisal Review Drops Refinance Risk, Data Shows

Historically, purchase mortgages have performed better than refinance mortgages, or “refis,” defaulting less often. But changes made in response to widespread appraisal bias during the crisis have improved the industry’s risk assessment and management abilities overall and, accordingly, have decreased the expected default rate on all mortgages.

We looked at the data and concluded that these improvements have reduced the difference in how purchase and refi mortgages perform. And while the models used in FHA, Fannie and Freddie underwriting systems are not public, our results suggest an update may be in order.

Reducing appraisal bias

The pervasive belief that appraisal bias, especially towards no-transaction refinances, was a significant contributor to the great financial crisis lead to a significant re-evaluation of the appraisal process after the crisis. Appraisals undergo much greater scrutiny today, and the GSEs commonly check these numbers against values generated from automated valuation models (AVMs).  AVMs use mathematical modeling, drawing on a huge database of recent transactions, complete with property characteristics, to generate an estimated sales prices.

…continue reading the rest of this post: Enhanced Appraisal Review Drops Refinance Risk, Data Shows

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