Week of July 9-15, 2019
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…
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…
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)…
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…
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…
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…
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…
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…
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…
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
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!...
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…
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…
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