Dodd-Frank requires lenders to pay appraisers a Customary & Reasonable (C&R) Fee. The most common thread in appraiser comments on C&R is that it doesn't matter because there is no enforcement. So the natural progression is that one must first determine C&R before one can enforce it. For most states, determining C&R has been a challenge, but we have identified some states that have completed C&R surveys and published their results. Naturally, appraisal fees vary greatly depending on the market and type of appraisal product.
Technology is changing the way business is done across the world. More and more people are able to do their jobs completely through their mobile devices. Like it or not, appraisers need to learn to keep up with the changing times. Most appraisers have made the leap by now to a tablet or smartphone because of the need to stay connected to the office. We put together a list of some apps to help appraisers do their jobs on the go.
Last year we started a summer reading list for appraisers with recent books that appeal to appraisers about the industry or business in general. This year we have a brand new batch of books for appraisers to read.
As you probably have noticed by now, The Appraisal Buzz newsletter has undergone a massive facelift. We wanted to provide our subscribers with a way to get the latest news and information from the Buzz as easily as possible. We also wanted to create a fresh, clean, and appealing look for our message.
Recently we have been talking a lot about what to do with the lack of appraisers entering the profession. We were lucky enough to have the 2013 Valuation Visionary Award Winner, Greg Stephens from Metro-West Appraisal Co., LLC, write a two-part article on training the next generation. Our subscribers flooded us with responses via email and in the comment areas. We wanted to share some of the best to continue to open up this industry discussion. We left all the quotes "as is" but removed any identifying information.
Summer Reading Book Buzz
With summer just around the corner, the Appraisal Buzz wanted to hook you up with a list of recently and soon to be released books to read as you are traveling for work and vacation. Below is a list of books recommended to us by members of the industry for our subscribers. We want to encourage you to read some of these great titles this summer.
With have lots of changes with Valuation Expo this year. We just couldn’t wait so we moved up the date! At the very core is our mission statement: Learn, Network, and Prosper!
We have received a flurry of responses to the articles surrounding the Texas Appraiser and AMC Survey results released by Texas A&M University Real Estate Center. We thought we would share excerpts of the most valuable comments, emails, and phone calls that we've received. Though many of the individuals providing feedback asked that we include their names and information, we have decided to keep their responses anonymous. In the interest of brevity, most of the comments below have been condensed.
Risk Taking, Gut Feelings and the Biology of Boom and Bust
by John Coates
Review by Jim Morrison