This wiki is a compilation of business tools, software and services that might be helpful to real estate appraisers in North America - feel free to add any RELEVANT sites, services and so on that will benefit professional real estate...
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This wiki is a compilation of business tools, software and services that might be helpful to real estate appraisers in North America - feel free to add any RELEVANT sites, services and so on that will benefit professional real estate appraisers.
The Home Valuation Code of Conduct (HVCC) is already having a negative impact on California real estate and mortgage transactions.
This recent article in the LA Times tells a better story about how HVCC is hurting mortgage brokers, real estate agents, appraisers, and consumers.
Your voice needs to be heard - please take the time to sign the Petition to Remove the HVCC
Quick History
After an investigation by New York Attorney General, Andrew Cuomo, into Fannie Mae and... Read Full Story
Home Valuation Code of Conduct:
Action Needed!
Our friends in Congress are at it again.
Background:
1) The HVCC negatively affects consumers and the already fragile economy.
As it stands today, the HVCC will take effect on May 1, 2009, and this rule states that GSEs will no longer purchase loans from lenders “accepting appraisal reports completed by an appraiser selected, retained, or compensated in any manner by any third party.” It overwhelmingly impacts... Read Full Story
Jeremiah Wean wrote a fantastic post on HVCC Appraisals yesterday morning.
It was featured and well deserved. I am reblogging it because it only has 17 comments but this is a critical call to action.
Don't comment here, please go comment on Jeremiahs post.
But, more importantly take action on this issue. We are a real estate community, this issue is affecting ALL of us.
Jeremiah gave us easy links to contact Fannie, Freddie, our Congressman and the Attorney General.
Come on guys... Read Full Story
As of yesterday, May 1 st , a new law is now in effect which will have an impact on anyone who is applying for a new mortgage loan. The change, the adoption of HVCC , the Home Value Code of Contact, affects property appraisals and how they are ordered and it is one of the new reforms designed to end the abuses that contributed to the run up in home prices which came before the real estate bust. The idea behind the law is that mortgage lenders were pressuring appraisers for higher values in... Read Full Story
The Real Estate Blame Game Moves On To Appraisers
The Real Estate “Blame Game” has become our current national sport. So far, we’ve raked the Buyers, the Realtors and the Brokers and the Mortgage Companies over the coals. This week we’re moving on to the Appraisers and legislating the free flow of information.
As of May 1, 2009 there will be new property Appraisal guidelines but not everyone agrees that we need new Appraisal guidelines as reported in the Wall Street Journal yesterday... Read Full Story
There is a major sale going on in the housing market, and with real estate appraisals coming up with comparables that are lower than ever, it may be the perfect time to buy. One of the questions my real estate appraisers in Valley Village are getting is how to buy a foreclosed home. This is also a big issue for real estate appraisers in North Hollywood. Though there are a lot of bank-owned properties available these days, trying to buy one can be risky. With a conventional home purchase, you... Read Full Story
We are online every Monday, 5:00-6:00pm-pst to discuss your real estate and appraisal issues. http://webmessenger.yahoo.com/?im=harris_curtissbcglobalnet Thanks! Curtis D. Harris, BS, CGREA, REB Bachelor of Science in Real Estate, CSULA State Certified General Appraiser Real Estate Broker ASTM E-2018 Commercial Real Estate Inspector HUD 203k Consultant HUD/FHA Real Estate Appraiser/Reviewer FannieMae REO Consultant The Harris Company, Forensic Appraisers and Consultants *PIRS/Harris Company... Read Full Story
With President Obama’s foreclosure prevention program in place, home owners may now start to begin the process of saving their homes. This is especially good news for homeowners in the San Fernando Valley, where my real estate appraisers in Valley Village as well as real estate appraisers in North Hollywood have seen the price of homes drop dramatically over the past year. Keep in mind that one of the biggest components to a home appraisal is finding what the comparable prices of surrounding... Read Full Story
The Perils of Prior Appraisal This article appeared in the ABA 's Probate & Property Magazine, May/June 2008 and is reprinted here with the permission of the author. The Perils of Prior Appraisal By Michael Rikon, Esq. Appraisers typically send a draft of their appraisal report to attorneys or other real estate professionals for prior review or comment before finalizing their reports. There are several good reasons to do so. This review can be extremely helpful to ascertain if something is... Read Full Story
This information was compiled from the AppraisalWorld Residential Survey. As members join, they are asked for information about their profession and personal demographics. These results reflect the demographics of a typical residential appraiser. Gender Breakdown As you probably suspect, the appraisal profession is heavily dominated by men-almost 4 out 5. Age Breakdown Note that the age groups are almost evenly divided. Appraisers in their 40s represent 30%, appraisers in their 50s make... Read Full Story
