Industry News

Week of July 9-15, 2019

 

Quicken Loans: Owner Perceptions of Home Values Improve for Second Straight Month  as Spring Home-Buying Season Ends

RISMedia

The average home appraisal in June was 0.71 percent lower than  owners’ estimates, according to the Quicken Loans’ National Home Price  Perceptions Index (HPPI). After six months of growing gaps, this is the  second month in a row that the two data points  tightened, showing that owners and appraisers share similar opinions of home values nationwide as spring home-buying season gives way to summer…


A Truth About Bifurcation

Appraisal Buzz

He also presented Fannie Mae’s collateral policies and positions to  numerous industry participants and government agencies as well as  congressional staff. Bob Murphy is a former SRA and Appraisal Institute USPAP and residential appraisal course instructor…


Charitable Conservation Easement Program Integrity Act Expected to Generate $6.6 Billion in Federal Revenue

Yahoo! Finance, PR Newswire, Pittsburgh Post-Gazette, Arizona Republic (Phoenix), Seattle Post Intelligencer

(This article was included in an additional 58 outlets.)

Multiple land conservation organizations have joined the Alliance in  announcing their support of the Charitable Conservation Easement Program  Integrity Act... Within the appraisal industry, the Appraisal Institute and the American Society of Farm Managers and Rural Appraisers have voiced strong support for the legislation…


Jeffrey Epstein’s $56 million mansion could become a real-estate nightmare

MarketWatch, Morningstar

“After an event like this occurs, and the public becomes aware of it,  all of a sudden the value drops significantly,” real-estate appraiser Orell Anderson [MAI], who valued the homes where Nicole Brown Simpson and JonBenet Ramsey were murdered, told MarketWatch…


ABS, R.D. Geronimo Will Partner on Advisory Services

Connect New York

ABS Partners Real Estate LLC has formed a joint venture with appraisal services firm R.D. Geronimo LTD… Richard DiGeronimo [MAI, SRA, AI-GRS], president and founder of  R.D. Geronimo, will act as managing partner of the JV. “Our combined  synergies will provide added value and a broader business platform,  enabling each entity to both complement and expand  the individual and collective footprints under the ABS R.D. Geronimo  umbrella,” he said…            


How to Get a Mortgage: A Step-by-Step Guide for Home Buyers

Realtor.com

Most times, the appraiser's price will end up approximately the same as your own—in which case all is good, says Rick Phillips [SRA], an appraiser and real estate agent in Vienna, VA. And if the appraisal comes in higher than what you’re paying, you’re getting a good deal…

 

Is This Appraisal Thing Actually a Profession?

The Appraiser Coach, Appraisal Buzz

Is real estate appraisal an industry or a profession?  Which term describes us?  Which term should describe us, as well as what we do?...


Gap Between Appraisals, Expectations Narrows

Builder

The average home appraisal in June was 0.71% lower than owners' estimates, according to the Quicken Loans' National Home Price Perceptions Index (HPPI)…


Quicken Loans: Owner Perceptions of Home Values Improve for Second Straight Month as Spring Homebuying Season Ends

Yahoo! Finance

Quicken Loans' Home Value Index (HVI) shows that appraised values rebounded from May's more than 1% decline, as the average home appraised 0.56% higher in June. Additionally, the average home  increased in value by 4.78% since June of last year, providing  significant equity to millions of homeowners…


ABS Partners Real Estate Forms Joint Venture with Appraisal Advisory Firm R.D. Geronimo

Citybizlist

Richard DiGeronimo, MAl, SRPA, AI-GRS, President and Founder of  R.D. Geronimo LTD, will act as Managing Partner of ABS R.D. Geronimo  Valuation Services LLC Joint Venture. The announcement was made by Gregg  Schenker, president and co-managing partner  at ABS Partners Real Estate LLC…


Expert: AVMs will soon represent 70% of valuations

HousingWire

If you define traditional valuation methods to be the methods used by appraisers,  primarily the comparative based approach which looks at three to five  “comps,” then the biggest difference would be the number of properties  considered for a valuation.  For example, any algorithm considers and processes many more than just  three to five properties in determining a value…


18 Historic Homes that Would Be Fascinating to Appraise

Appraisal Buzz

Historic homes make for complex and interesting appraisal subjects. As one appraiser said, “I love unusual properties, and the challenge they present to appraise. I have always loved appraising large, older properties. They take us back to another world back in time.” We recently asked our appraisal community, “What famous historic home would you want to appraise?” Here’s what they said…


The Benefits of Multiple Monitors

Appraisal Buzz

As appraisers, we are often reviewing MLS listings, tax data, order sheets, appraisal software, zoning information, surveys, deeds, and sale contracts – all while typing an appraisal. The less we have to take our fingers off the keyboard to use the mouse, the faster we are able to get the report out the door…


Week of July 2-8, 2019

 

This is how Texas lawmakers avoided true property tax reform and instead gave us fluff and  stuff

Dallas News 

Instead, we have a new property tax law, already in effect, that is half-baked. The appraisal system will get standardized across the state. You'll  receive more information on your taxes and what you pay. You'll even  have a chance, in elections, to lower the boom on big government tax  increases…


Texas Supreme Court Holds that Invoking Appraisal Provision and Paying Appraisal Amount Does Not Insulate an Insurer from Damages Under the Texas Prompt Payment of Claims Act 

Lexology

In two cases decided June 28, 2019, the Texas Supreme Court held that an insurer’s invocation of a contractual appraisal provision after denying a claim does not as a matter of  law insulate it from liability under the Texas Prompt Payment of Claims  Act (“TPPCA”). But, on the other hand, the court also held that the  insurer’s payment of the appraisal award does not as a matter of law establish its liability under the policy for purposes of TPPCA damages…


Cushman & Wakefield’s Sean Finnerty Receives MAI Membership Designation

Boston Real Estate Times, Citybizlist

Cushman & Wakefield, a leading global real estate services firm, is pleased to announce that Sean Finnerty [MAI] has become a Designated member of the Appraisal Institute…

 

5 Reasons to Upgrade Your Appraisal License

Appraisal Buzz 

The more you know, the more you can grow your real estate appraisal business and shield your income from the ups and downs of the real  estate market and from encroaching technology. The higher you go, the  less competition you’ll find: Only 36% of the  nation’s 97,000 appraisers are certified general…


Week of June 25 - July 1, 2019

 

How to become an Appraisal Expert Witness

Appraisal Buzz

From the legal terms in different court cases to surviving a  cross-examination – Would you be prepared for expert witness testimony?  We sat down with Steven R. Smith, MSREA, MAI, SRA Appraiser and Expert Witness for his upcoming webinar “How to become an Appraisal Expert Witness” to help you answer that question with a “Yes!” Steve Smith will be teaching appraisers how to become expert witnesses…


Valbridge Property Advisors Welcomes New Leadership to Florida

PRWeb

Valbridge Property Advisors is the largest commercial property valuation  and advisory services firm in the U.S., with 200 MAI-designated appraisers, more than 70 office locations and more than 675 staff across the nation. Valbridge provides independent appraisal services consistent with the highest industry standards of practice. Each Valbridge office is led by an appraiser who holds the MAI designation of the Appraisal Institute…


The Zestimate reboot is here

MarketWatch

It was also a major milestone on the journey toward replacing human appraisers with what’s known as an “automated valuation model.” Now every source  of information about real estate has its own for consumers, and the  industry is moving toward allowing  such models for things like mortgage approvals…


Assessment process in St. Louis County 'isn't working,'  appeals official says as he quits

St. Louis Post-Dispatch 

Board member Keith Kramer [Affiliate] wrote to Page that  he “agreed to serve on the Board as I wanted to serve my community. I  thought I could contribute to improving the real estate assessment  process in St. Louis County. I have found resistance  to change and that change is not likely to occur.”…


Orange County commercial realty market hot — and getting hotter

Times Herald-Record (Middleton, N.Y.)

Other panelists included Gary Hans, vice president of Matrix Development  Group of New Jersey, which has built large warehouses locally; Paul Wiley [Affiliate], an appraiser with Valuation Consultants, Inc.; and Michael Gilfeather, president and CEO of Orange Bank & Trust…


NAR Claims Victory for VA Loan Provision in Military Disability Law

National Mortgage Professional Magazine

The new law also allows the VA to permit a VA-approved appraiser to make a housing loan appraisal based solely on information gathered by a person with whom the appraiser has entered into an agreement for such services…

 

Broad Mountain Power scolded for late documents

Times News (Lehighton, Pa.)

Jack Coyle MAI, member Appraisal Institute, an experienced real estate appraiser, developer and longtime Realtor, of Media, near  Philadelphia, was the evening’s expert. Coyle had come to talk about his  37-page report with his analysis of the project’s impact on local  property values…


HVS Report - Perspectives on the New York City Lodging Market 2019 – a Review of the Supply Side - By Anne Lloyd-Jones

Hotel Resource, Hotel News Resource, Hospitality Trends

Anne R. Lloyd-Jones, MAI, CRE, is Senior Managing Director of the  New York office of HVS, the premier global hospitality consulting firm.  Since joining HVS in 1982, Anne has provided consulting and appraisal  services to over 5,000 hotels. Anne’s particular  areas of expertise include market studies, feasibility analyses, and  appraisals. She is also an expert in the valuation of management and  franchise companies, and brands. Her experience includes a wide range of  property types, including spas and conference  centers…


HVS Report - Navigate the Pitfalls Motel Valuations - Part 2 - By Rodney G. Clough

Hotel News Resource, Hotel Resource, Hospitality Trends


Rod Clough, MAI, President - Americas, oversees strategy  execution throughout 40 Americas locations. He recently brought together  all US Valuation Consulting offices under common ownership, and has  revolutionized the way the company is led and managed.  This group of offices represents over 120 hotel industry professionals  and executes over 4,000 assignments a year. Rod has been working in the  hospitality industry for 30 years and is a graduate of Cornell's School  of Hotel Administration. He is a Designated  Member of the Appraisal Institute (MAI) and a state-certified general appraiser…


Real estate appraiser wins invasion of privacy lawsuit against CoesterVMS

HousingWire

“This was a fight that had someone more powerful try to bully and bribe  me away. I stood my ground, even faced with a $20 million countersuit,”  Skapinetz wrote. “Well today is vindication day for me, appraisers and more. This wasn’t just about me. This turned into something more and about the appraisers and profession…Finally I think I’ll sleep well tonight. Thanks to everyone who supported me and more during this.”…


WSJ: Rent control law sends New York building values tumbling

HousingWire

Asking prices for regulated buildings are already falling, the Journal  story said. In one example, a brokerage had previously pitched a  partially vacant, 22-unit building in the East Village on the premise  that a buyer could eventually double the monthly income  from $26,300 to $52,600, the Journal said…


Pro Appraiser Remarks from Joan Trice – Congressional Hearing Comments

Appraisal Buzz

Chairwomen Waters, ranking member McHenry and members of the  Subcommittee on Housing, Community Development and Insurance, thank you  for the opportunity to share my thoughts regarding “What’s Your Home  Worth, a Review of the Appraisal Industry”….


Improve Appraisal Reports in 10 Steps

The Appraiser Coach, Appraisal Buzz

Dave Towne [Affiliate] , an appraiser out of Washington State, contacted me about ways for appraisers to improve their reports.  Since Dave does a lot of  review work and sees a lot of peer reports So, while the podcast with  Dave lasted almost one hour, what follows is a précis of that podcast  just hitting the highlights.  Enjoy!...

 

Bifurcated Appraisals: Insights Into an Evolving Industry

DS News (Dallas)

George Paquette [SRA] is the Chief Appraiser of Springhouse, which is a business of Altisource. Prior to joining Springhouse and Altisource, Paquette served as the Chief Appraiser for a national AMC and REO servicing company for nearly 10 years and worked for large lenders and owned a real estate appraisal officer in Orange County, California…


BBG Appoints Anthony Bonet As Director Of Miami Office

PR Newswire, Pittsburgh Post-Gazette, Yahoo! Canada Finance, Benzinga, Marketplace

(This article was included in 26 additional outlets.) 

(This article also mentioned Lee Smalley, MAI.)

BBG, one of the nation's largest and fastest-growing commercial real  estate due diligence firms, today announced that it has appointed Anthony Bonet, MAI, MRICS, as a Director of the Miami office…


Week  of June 18-24, 2019

 

Upcoming Webinar: Get Paid – 4 Secrets to Turning Your Appraisal Efforts into Cash

Appraisal Buzz

Appraisers are creating their own businesses left and right, but  are they wasting valuable time and money on things that they just don’t  need? Becoming your own boss doesn’t come with a handbook, but it does  come with tons of advice from fellow professionals.  We sat down with Keith Ellis for the upcoming webinar for appraisers titled, “Get Paid: 4 Secrets to Turning Your Appraisal Efforts into Cash” where we discuss helpful tips from someone who has been in this industry for years…


Appraisal Institute's Wagner Maintains  "Positive Thoughts" on FHA-Appraiser Bills

National Mortgage Professional Magazine

Following his appearance yesterday before the House Subcommittee on  Housing, Community Development and Insurance to advocate passage of HR  2852, which would allow licensed appraisers to perform appraisals for Federal Housing Administration (FHA) loans, Appraisal Institute President Stephen S. Wagner [MAI, SRA, AI-GRS]  is expressing optimism that the legislation will find its way through a  Congress which seems to become increasingly divided along party lines…


Cooltools: scan important documents on the go with DocuPen 800 series scanners.

Thefreelibrary.com

R. Wayne Pugh, MAI, is CEO of R. Wayne Pugh and Co., a real estate consulting and appraisal firm he founded in 1975 in Baton Rouge, La. He also  heads Software for Real Estate Professionals Inc. and Real Estate Data  Services. An active member of the Appraisal Institute for three decades, Pugh served last year as immediate past president. For information on his Appraisal Institute Cool Tools seminar…


Appraisal Institute President Urges Congress to Address  Valuation Issues

National Mortgage Professional Magazine, Real Estate Rama

Stephen S. Wagner, MAI, SRA, AI-GRS, president of the Appraisal Institute,  addressed the House Financial Services Committee’s Housing, Community  Development and Insurance Subcommittee to act on valuation topics during  a hearing on Capitol Hill…


Judge’s order will keep Aspen Club afloat for now

Aspen (Colo.) Times 

Testimony also included remarks from appraiser Christopher Donaldson [MAI],  who said Wednesday the Aspen Club land is worth $43 million and will  have a build-out value of $200 million, should the project ever get  completed. The judge also leaned  on Donaldson’s testimony to make his decision…


Alaska Building Pros Learn The Ins And Outs Of Green Building Valuation

Public, NAHB Now

Sponsorships through IABA, local lenders, builders and real-estate companies, as well as a grant from the Appraisal Institute, helped defray much of the cost to increase participation…


Congress Delves into the Appraisal Industry

Appraisal Buzz, Insurance News Net

The Subcommittee on Housing, Community Development and Insurance will  hold a legislative hearing titled, “What’s Your Home Worth? A Review of  the Appraisal Industry” tomorrow, June 20th, 2019 at 2:00 p.m. with witnesses… Stephen S. Wagner [MAI, SRA, AI-GRS] Senior Appraiser of Terzo & Bologna, Inc. on behalf of the Appraisal Institute…


2019 Canadian Hotel Lending Survey - By Shu Lin (Sharon) Liu and Carrie Russell

Hotel News Resource

(This article was written by Carrie Russell, MAI.)

Supported by the persistence of generally favourable economic  conditions, the Canadian lodging market sustained a marked improvement  in 2018, as evidenced by a record-breaking RevPAR performance. Interest  in hotel development has been steadily increasing in  recent years.


Clear out garage – then clean up with better sale price

The Pioneer (Clayton, Calif.)

The latest research shows that home renovations focused on the exterior  of a property are most likely to generate a positive cost-to-value  ratio. “However, not all home improvement projects offer a full return  on investment. Cost doesn’t necessarily equal value,”  noted Stephen Wagner [MAI, SRA, AI-GRS], president of the Appraisal Institute…


Movers & Shakers: Sayre Associates, NAI, SDSMA, SF Fire Rescue, SDHCA

Sioux Falls (S.D) Argus Leader

Steve Shaykett [MAI] has joined NAI Sioux Falls as a broker associate. He joins NAI Sioux Falls from Shaykett Appraisal Company Inc., which he in founded in 1984. Before that, Shaykett was an appraiser in Kansas City and in Miller…

 

BBG Broadens Presence In Pacific Northwest With Opening Of Seattle Office

 PR Newswire, TickerTech.com, Pittsburgh Post-Gazette, Markets insider, Yahoo! Finance

(This article was included in 46 additional outlets.)

BBG also announced the appointment of Shawn Wayt, MAI, as a  Director at the Seattle office. In his new role, Mr. Wayt will be  responsible for business development, client outreach and various appraisal duties…


Brett Pelletier of Kirk & Company Awarded the CRE Credential

Boston Real Estate Times (Waltham, Mass.)

Brett N. Pelletier is a Certified General Real Estate Appraiser in  MA, RI, CT, and NH, a licensed real estate salesperson in  Massachusetts, a designated member of the MBREA (MRA), a Candidate for  Designation of the Appraisal Institute (MAI), an Emerging Leader Member of  the Real Estate Finance Association (REFA), a member of the National  Council of Housing Market Analysts (NCHMA), and is a member of Lambda  Alpha International (LAI); an honorary land economics  society…


Thomas John Steel, 87

Allegan Co. News (Allegan, Mich.)

Thomas John Steel served as 1st Lt. in the United States Air  Force stationed in Harlingen, Texas, where they spent their first  married years. Moving back to the Midwest, Tom worked for more than 30  years in the commercial mortgage banking field, primarily  in Chicago. He held the prestigious MAI designation from the Appraisal Institute and was a past president of the Illinois chapter…

 

Houston’s economy boosts commercial properties

Valuation Review

“Tax appraisals have no use in developing individual valuations,  but the HCAD statistics point to a pronounced trend for increased  property prices in the Houston area,” Sikes said. “That trend should  carry forward into 2020.”…


Metro-West providing alternative appraisal solutions

Valuation Review

Fannie Mae and Freddie Mac recently introduced new forms that bifurcate the appraisal process, known as property data collection and 1004Ps, and these  processes create more affordable and effective evaluations, but many  AMCs struggle to find appraisers who will conduct the field work for these alternative solutions due to lack of training, the company stated…


Homeowners are more realistic about their home's value

HousingWire

The difference between an appraiser’s value estimate and a  homeowner’s expectations has narrowed as owners come to accept a slower  rate of home-price growth, according to the latest Quicken Loans Home  Price Perceptions Index…


The Herd: New hires, promotions & departures for 6.18.19

RichmondBizSense.com (Richmond, Va.)

Chris Carmody [SRA] is staff appraiser and is a graduate of the University of Cincinnati…


Week of June 11-17, 2019

 

County opposes state measure to reassess golf courses

Oswego County News Now (Fulton, N.Y.)

Under the framework of the bills, local communities  would have the option to assess golf courses based upon their highest  and best use, which is defined as “the reasonably probable and legal use  of vacant land or an improved property that  is physically possible, appropriately supported, financially feasible  and that results in the highest value,” according to the Appraisal Institute…


Business Briefs

Herald-Argus (La Porte, Ind.)

Alan Landing, owner of Heritage Appraisal Service,  has announced his recent completion of two educational offerings taken  to add to and broaden the company’s knowledge of the ever-changing  property appraisal industry. Landing, who began his Real Estate career in 1978 has continued to grow his resume which includes the SRA designation from the Appraisal Institute, the Certified General Appraisal License in Indiana and Michigan, as well as being an Indiana Broker…


Morningstar Properties Appoints New President, Adds SVP of Operations and SVP of Storage Strategy

Yahoo! Finance, Connecticut Post (Bridgeport,  Conn.), The Advocate (Baton Rouge, La.), Markets Insider, The Oklahoman  (Oklahoma City)

(This article was included in an additional 53 outlets.)

[Brian] Pelski [MAI] is a 30-year veteran of  the storage industry with an extensive background in commercial real  estate and property management who achieved two of the most coveted  professional real estate designations; namely Certified  Commercial Investment Member (CCIM) and Member of the Appraisal Institute (MAI)…


Consumers kept in the dark about appraisers' history, violations

KNXV 15 ABC (Phoenix)

If you file a complaint against a real estate appraiser in Arizona, there is a good chance you’ll never learn the outcome. In  August 2017, Courtney Hoogervorst lodged a complaint against an appraiser that she believes low-balled the value of her home…

 

Moved, promoted or appointed in Lincoln recently

Lincoln Journal Star (Lincoln, Neb.)

(This article also mentions Wayne Kubert, MAI.)

“I am fortunate to again be able to work with my  father. Wayne’s knowledge and experience are a benefit to our new firm  and we are excited for the future.” said owner Thomas W. Kubert, MAI, CCIM…


Gap Between Appraisals, Expectations Narrows in May

Builder

The average home appraisal in May was 0.79% lower than what the owner estimated, according to the Quicken Loans Home Price Perceptions Index (HPPI)…


Quicken Loans: Owner Perceptions of Home Values Improve After Six Months of Declines

PR Newswire

The average home appraisal in May was 0.79%  lower than what the owner estimated, according to the Quicken Loans Home  Price Perceptions Index (HPPI). While a lower than expected appraisal is never welcome news, this difference  between homeowner estimates and appraisal values is slightly  smaller in April, and the first improvement following six months of  growing gaps between the two data points…


Lowery Property Advisors Announces Rebrand to LPA

Appraisal Buzz

LPA’s broad knowledge of commercial real estate  trends combined with access to the latest in market research, makes it a  trusted partner to lenders, legal professionals, brokers, buyers, and  sellers. “Given the complexity of today’s commercial  real estate market, accurate valuations are a must,” said Mark Lowery, MAI, president of LPA…


Appraisers are an endangered species. Will tech sink or save them?

National Mortgage News

"When you start to get into more unique types of  properties, or properties with lots of different features, rural  properties, and so forth, then some of these other real estate products  are going to be, maybe not even possible in some cases,  so you're absolutely going to need an appraiser," said Appraisal Institute President Steven Wagner [MAI, SRA, AI-GRS]…


Bad Dunedin neighbors who disregard code standards deserve disdain, not sympathy

Florida Politics (St. Petersburg, Fla)

A 2013 study by the Appraisal Institute  documented that neighbors who fail to properly care for their own homes —  allowing yards to overgrow, bad smells to develop, or property to fall  into disrepair — can cause the value of adjacent  homes to drop by 5 to 10 percent or more…


HVS Report - NYU Conference Takeaways: Cautious Optimism Turns to Caution

Hotel Resource, Hospitality Trends

Rod Clough, MAI, President - Americas,  oversees strategy execution throughout 40 Americas locations. He  recently brought together all US Valuation Consulting offices under  common ownership, and has revolutionized the way the company  is led and managed. This group of offices represents over 120 hotel  industry professionals and executes over 4,000 assignments a year. Rod  has been working in the hospitality industry for 30 years and is a  graduate of Cornell's School of Hotel Administration.  He is a Designated Member of the Appraisal Institute (MAI) and a state-certified general appraiser…


Who Can Complain About Appraisals

The Appraiser Coach, Appraisal Buzz

Now, it is clear to me that anybody can file a complaint against an appraiser at any time for any reason at all, including no reason  at all. So, should a borrower be able to go directly to the state and  file a complaint? More importantly, should a state appraisal board take seriously a complaint from someone who is not a client or named intended user? I say no!...


Great Appraisers Should be Great Business People

Appraisal Buzz

Who ever said “Don’t put all of your eggs in one  basket” was exactly right. Diversifying your client list means having a  variety of products and services. Not only will this serve you well when  one segment of your business falls off or  you lose a client, but it keeps things exciting. Not all appraisal work is alike….


Week of June 4 - 10, 2019

 

How to Increase Your Home Value for an Appraisal (And Why it Matters)

Value Penguin

When preparing for a home appraisal, the  goal will be to point out substantial improvements made to the home and  avoid any impression that the home might be falling into disrepair.  There are numerous factors that go into home appraisals, and not all of them are in your control…


How To Increase The Value Of Your Home

WINA 1070 AM/98.9 FM (Charlottesville, Virginia)

Michael Guthrie is joined by Greg Slater and Sandy Adomatis [SRA] with advice on how you can increase the value of your home with green features…


Integra Realty Resources Promotes Jerry Manfra to Senior Managing Director of Boston Office

Boston Real Estate Times 

(This article also mentions Elish F. Lee, Jr., MAI, Emmet T. Logue, MAI, and Anthony Graziano, MAI.)

Integra Realty Resources (IRR), one of North  America’s largest independent commercial real estate valuation and  consulting firms, announced the promotion of Jeremiah “Jerry” J. Manfra, MAI to Senior Managing Director of its Boston office…


FHA Inspection and Appraisal Requirements

Yahoo! Finance

As far as appraising the home’s value goes,  the HUD-approved inspector will do what’s normally done. He’ll compare  the house to similar property that sold recently in the area. But keep  in mind health and safety concerns are the  most important part of the process here as far as the FHA and HUD are  concerned…


Upstate Chapter of the Appraisal Institute offers five continuing education seminars

New York Real Estate Journal 

The Appraisal Institute is recognized as the leader in the real estate appraisal industry and is one of the oldest organizations of real estate appraisers in the world…

 

Apps for Appraisers

Appraisal Buzz

As an appraiser, your smartphone could be  what your business needs to be successful. All businesses should take  advantage of the free technology that is available at the touch of a  button. From apps that can store important data  to multi-navigational GPS apps, your appraisal business could be working much smarter…


Week of May 29 - June 3, 2019

 

Wayne Kubert joins Kubert Appraisal Group, P.C.

Lincoln Journal Star (Lincoln, Neb.)

(This article also mentions Thomas W. Kubert, MAI.)

Lincoln, Kubert Appraisal Group, P.C. is pleased to announce the addition of Wayne Kubert, MAI to the team as a senior appraiser. In his new role, Kubert will continue serving clients with quality appraisal services related to commercial property, litigation support, and consulting…


Long Island Appraisal Institute National USPAP Course - July 19

New York Real Estate Journal

What: Course - National USPAP 7-Hour Upstate  v.2018-2019. Seven hours of CE Credit. Required once every two years as  part of New York State Appraiser; 28 hours CE requirement for license/certificate renewal…


Long Island Appraisal Institute Golf Outing & Evening Seminar - July 10

New York Real Estate Journal 

Seminar by Robert Smith, MAI, AI-GRS, "Appraisal Review Process" and "Navigating the Updated NYC Real Property Data Website." 2 Hours CE Credit…


Highest and best use analysis by experienced appraisers a must in a hot market - by Maria Hopkins

New England Real Estate Journal

(This article was written by Maria Hopkins, SRA.)

Zoning must be carefully considered for every appraisal.  It would be a mistake to assume that every single family should just  remain the same use. Even if two-unit dwellings are allowed, people are  adding on units.  Many towns now  have accessory unit zoning…


Naples Area Board of REALTORS presents its economic summit

Naples Florida Weekly

Attendees were then presented with an historically  subjective presentation by the Summit’s resident Naples housing market  pricing authority, Cindy Carroll, SRA, with the real estate appraisal and  consultancy firm Carroll & Carroll Inc. Ms. Carroll assured the  audience that the housing market was stable as reflected in an  8.1-months supply of inventory…

 

Determining value after disasters can be challenging

Valuation Review

Appraisers often find that following a  disaster, determining home values can be a challenge, according to a  blog post from CoreLogic. A recent report takes a look at what factors  impact the appraisal process following severe natural disasters, and why homeowners affected by storms and other disasters may seek an appraisal…


A creepy way to get 25% off your next house

Yahoo! Finance 

According to a US real estate appraiser, Randall Bell [MAI],  who priced the Heaven’s Gate house where 39 cult members committed  suicide in 1997, a death in a home can both decrease its value and  double its time spent  on the market…


Appraisal increases are a product of a booming economy

Midland Reporter-Telegram (Midland, Texas)

 That was the message from Midland Central Appraisal District Chief Appraiser Jerry Bundick [Affiliate]. The average appraisal of residential properties across Midland jumped 12.8 this year. That is an increase from 7.4 percent one year ago. Bundick said appraisals are determined by home sales and other information from Realtors…


Week of May 21 - 28, 2019

 

Homeowner perceptions trail appraisals despite value bump

The Day

Appraisals were most likely to fall short of  expectations in Cleveland, where the average value was 1.95 percent  less than a homeowner's estimate. The typical appraisal fell 1.79 percent short of expectations in Chicago and 1.44 percent lower in Philadelphia…


SAVE NOW: Three tips to help homeowners during the pre-selling preparation process

St. Louis Post-Dispatch

The Appraisal Institute suggests homeowners clear clutter out of their homes before appraisers visit and the same approach can be applied to open  houses. Buyers, like appraisers, see cluttered homes as less valuable.  In addition, a home full of clutter might give buyers the impression,  true or not, the home was not well maintained…


Valuation Career Opportunities Abound, Appraisal Institute Tells Graduates

PR Newswire, Pittsburgh Post-Gazette, Fort Wayne (Ind.) Post & Mail, The Oklahoman (Oklahoma City, Okla.), Markets Insider

(This article was included in another 57 outlets.)

As the number of real estate appraisers has  decreased in recent years, rewarding career opportunities have opened  for recent graduates, according to the nation's largest professional  association of real estate appraisers. "There are all sorts of benefits to a real estate valuation career," said Appraisal Institute President Stephen S. Wagner, MAI, SRA, AI-GRS….


Santa Clara County Takes 49ers to Court Over Stadium Tax Fight

San Jose (Calif.) Inside

A three-member appeals board—comprising renowned property appraisers Richard LaBagh [MAI, SRA],  Wayne Prescott and William Anderson—apparently thought otherwise. In  November, it split tax liability 50-50 between the 49ers and the city.  The decision  essentially deemed the value between football and off-season events as  exactly equal…


Tax Court remands for revaluation of shopping center

The Indiana Lawyer

David Hall [MAI] of the Appraisal Institute prepared the assessor’s appraisal, concluding under the income approach that River  Ridge’s net operating income was $998,718 for 2009; $968,610 for 2010;  $966,428 for 2011; and $948,725 for 2012…

 

An Illinois CDFI Leader Explains Why Appraisals Reinforce Structural Racism

Nonprofit Quarterly

One major obstacle to racial equity, Neri mentions, is appraisal-based  lending, a process that is so ubiquitous in the buying and selling of  both homes and commercial real estate that you may have never considered  how the appraisal system reinforces systemic racism…


HVS Report - Navigate the Pitfalls Motel Valuations - Part 1 - By Rodney G. Clough

Hotel News Resource, Hospitality Trends, Hotel Resource 

(This article was written by Rod Clough, MAI.) 

Independent, budget motels are often operated by resident owners that  are talented at running efficient, safe motel operations but lack  sophisticated and complete financial models that generate proper reports  upon which to base purchase and valuation decisions…


11 Tips for Pricing Your Home So It Sells for Top Dollar

MSN.com

If you want more precision than an agent’s market analysis, hire an appraiser — a professional whose job it is to determine the market value of a home. Use this locator at the Appraisal Institute, which educates and certifies appraisers, to find an appraiser near you…


Lowery Property Advisors Announces Rebrand to LPA

Business Wire, Pittsburgh Post-Gazette, Yahoo! Finance, The Chronicle Journal (Thunder Bay, Ontario), Benzinga (Detroit)

(This article appeared in an additional 21 outlets.)

“Given the complexity of today’s commercial real estate market, accurate valuations are a must,” said Mark Lowery, MAI, president of LPA. “We took our rebrand as an  opportunity to rethink not just our name but our expertise. LPA’s  extensive knowledge of the Southwest region allows us to provide  exacting analyses of the most up-to-date market data for  this part of the country.”…


BZA delays decision on solar farm

Pharos Tribune (Logansport, Ind.)

Mike MaRous [MAI, SRPA, SRA], an appraiser for Invenergy, said there is no evidence of a loss of property values when a solar farm project is completed…


Commission defends CAFO denial

Chronicle-Tribune (Marion, Ind.)

According to Mark Bovee [MAI], a member of the Appraisal Institute, the CAFO would produce 1.92 million gallons  of animal waste per year. The commission's report said that the proposed  CAFO is unique due to its close proximity to residential and urban  areas and that its presence would have a "detrimental  impact on the surrounding residential property values."…


Bank Think NCUA appraisal plan is far from risky

American Banker

The National Credit Union Administration’s proposal to raise the appraisal threshold for credit union nonresidential real estate  loans is the type of deregulatory action that deserves praise by those  who oppose unnecessary and overly burdensome regulation…

 

Industrial Production and Retail Sales Data Disappoint – Market Update

QuickenLoans

Homeowners and appraisers were slightly  further apart in terms of their perception of home values in April, with  homeowner estimates coming in 0.87% higher than actual appraised values as compared to a difference of 0.78% in March…


Week of May 14 - 20, 2019


IBA E-News 5-17-19

Indiana Bankers Association 

A move by the National Credit Union Administration to quadruple the appraisal threshold for nonresidential real estate loans could  have broad-reaching consequences for the financial system, according to  an op-ed by Appraisal Institute President Stephen Wagner [MAI, SRA, AI-GRS]  published in American Banker last week. The op-ed came ahead of NCUA’s  May 23 meeting, where the board is expected to consider the proposal  increasing the threshold from $250,000  to $1 million…


News and events in business and industry

Ocala Star Banner (Ocala, Fla.)

During the annual conference of the Florida Chapter  of the International Association of Assessing Officers, held in St.  Petersburg, Neil “Nick” Nikkinen [MAI] received the Tony Hodge Sr. award for obtaining the certified assessment evaluator designation…


HVS Report - How to Add Value to Your Hotel Asset - By Carrie Russell

Hotel News Resource

Over the course of her 20-year career with HVS, Carrie has been involved with appraisals and/or feasibility studies for over 2,000 hotel  properties throughout Canada and the United States. She speaks regularly  at industry conferences and has authored several articles on various  topics relevant to the industry. As a member of the Appraisal Institute of Canada and the US Appraisal Institute,  Carrie combines her hotel industry experience and education with her  real estate credentials to assist clients in making informed hotel  investment decisions…


Losing Your Real Estate Property – Eminent Domain

The Suburban Times (Lakewood, Wash.)

Richard E. Pinkley [Affiliate] is the President and CEO of GPA Valuation. He began his appraisal career in 1990 with Greer, Patterson and Associates,  Inc. and purchased the company in 2002. Pinkley has worked for banks and  mortgage lenders. He has been a leader of the local community of appraisers as the Treasurer of the Puget Sound Chapter of the Appraisal Institute and as branch chapter Chairman, serving as a voting member on the board of the Seattle Chapter of the Appraisal Institute…


Are Hybrid Appraisals Becoming the New Normal In Real Estate Transactions?

Greenville CEO (Greenville, S.C.)

John Torvi [Affiliate] , Vice President of Marketing and Sales for Landy Insurance Agency, discussed the liability and legal issues that arise when appraisers and agents adopt these new appraisal products…


How Natural Disaster Impacts Home Values and Appraisals

MReport

Appraisers often find that following a  disaster, determining home values can be a challenge. A recent report  from Corelogic, takes a look at what factors impact the appraisal process following severe natural disasters, and why homeowners affected by storms and other disasters may seek an appraisal…


Appraisal Values Spike in April

Quicken Loans

Home values were up more than at any point in the last four years in April. On the other hand, appraisers and homeowners drifted slightly further apart on the value of homes…


We want to hear your crazy appraisal stories!

Appraisal Buzz

Years ago, I was appraising a weekend  cottage and seeing a well house in the back yard decided to open the  door and take a photo. Well houses were still common in this area at the  time and I always looked inside to view the pump.  This particular well house was only about 4 feet tall so I couched and  opened the door only to come face to face with a full-grown bobcat!...


Janet L. Snyder

Hospitality Net

Janet Snyder, MAI is Managing Director of  the firm's Atlanta office. She is an expert on lodging markets  throughout Georgia, the Carolinas, and the surrounding region, and has  been consulting for HVS for over 10 years. She holds  her certified general state appraisal license and is a Designated Member (MAI) of the Appraisal Institute…


Are Hybrid Appraisals Becoming the New Normal In Real Estate Transactions?

PR Newswire

Appraisals, a critical part of real estate transactions, have customarily been done in-person by an experienced appraiser. However, with advancements in technology and the rise of big data, alternatives to the traditional appraisal field are beginning to become more prevalent in the U.S…


DeKalb commissioners hear roundabout debate

Greater Fort Wayne (Ind.) Business Weekly

County Attorney James McCanna said a county Redevelopment Commission member, John Good [MAI, AI-GRS], who is a certified appraiser, predicted a positive impact on property values near a roundabout…

 

Approaches to obtaining a good dealership real estate valuation

Automotive Buy Sell Report

If you are only interested in refinancing your property, don’t waste your money; let the financing institution order its own appraisal. A federally regulated lender will only accept an appraisal from an appraiser possessing a Member of the Appraisal Institute (MAI) designation, which certifies attainment of the highest standards…


Why Are There So Few Female Appraisers

Mortgage Women Magazine

In fact, according to figures from the Appraisal Institute, women make up just 25 percent of all appraisers. That’s particularly shocking considering 63 percent  of all Realtors are women, according to the National Association of  Realtors (NAR). Obviously, women know the real estate market. So why are  women so outnumbered in the appraisal industry?...


Using Social Media to your Advantage

Appraisal Buzz

Social media, whether we approve of it or not, is  beginning to evolve the marketing game. From giant corporate restaurants  to your local mechanic, there is almost always a Facebook page or a  Twitter account dedicated to its success. Why  not for your local appraisal business?...


Make a Difference in Your Appraisal Business Now

The Appraiser Coach, Appraisal Buzz

First, go paperless. Start implementing some of the incredible technology and software available to us as appraisers. Many new and exciting software can change the way you  do business. Correctly implementing technology will save you a great  deal of time and ultimately improve your quality of work…


Gap Between Appraisals, Expectations Widens in April

Builder

The difference between homeowners' and appraisers' opinions of home values continued to widen in April, after a sizeable move in March, with the average appraisal 0.87% lower than what homeowners expected, according to  Quicken Loans' National Home Price Perception Index (HPPI). This  compares to a 0.78% difference of opinion in March…


5 Tips for Selling Your Home Without an Agent

Yahoo! News

Michael Malkasian, president of FSBO.com, a real  estate advertising company, says you may want to consider this your last  option because you’ll have to pay about $400 for the appraisal, and the buyer’s bank will do an appraisal anyway. If you do want an appraisal, you can find an appraiser by searching on the website of the Appraisal Institute…


Op-Ed Highlights Consequences of NCUA Appraisal Threshold Proposal

ABA Banking Journal

A move by the National Credit Union Administration to quadruple the appraisal threshold for nonresidential real estate loans could have  broad-reaching consequences for the financial system, according to an  op-ed by Appraisal Institute President Stephen Wagner [MAI, SRA, AI-GRS]  published in American Banker last week. The op-ed came ahead of NCUA’s  May 23 meeting, where the board is expected to consider the proposal  increasing the threshold from $250,000  to $1 million…

 

My Bifurcated Opinion

Appraisal Buzz

There has been no end to the blows and bruises to the appraisal profession, especially since the housing finance crisis of over a  decade ago. The most recent kerfuffle over bifurcating the process has  the appraisal community in turmoil…

North Carolina Chapter of the Appraisal Institute (NCAI)

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