I recently had the opportunity to attend 'The Five-Star Conference & Expo.' It was my first time attending this conference, and I found it to be very different from others conferences I have attended in the past. Though this conference concentrated on realtors, asset management, and preservation companies, there were several sessions regarding valuations. One topic to note was in regard to the declining number of appraisers and the increasing number of realtors.
I do a lot of traveling. Too much if you ask my wife. I enjoy traveling and seeing new cities, but dealing with airports, rental cars, hotels and the like gets old. Sometimes I travel a long distance, but much of the time my travels are somewhat regional. I am not a huge fan of Vegas, but it seems that I have business there at least 3-4 times per year. Now, the City of Sin is only about 9 driving hours from my home, but I usually fly. Every time I go through the process of getting from here to there on an airplane, I ask myself why I don’t just drive.
"With a lot of 'buzz' around developing new forms I decided to do a little research on the history of the forms. I had the pleasure to speak with Gregg Opelka a few months ago. And more recently I had an opportunity to meet with Jack Weaver, the chief appraiser at Fannie Mae in 1970. Stay tuned for more articles on the evolution of the appraisal process. I have thus far discovered some fun facts that I don't believe you will find in texts books." ~ Joan Trice
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.
I make this statement often enough it must be true… "U.S. residential real estate is the largest asset class in the world yet we know little about it." Think about that for a minute. Not only is it ginormous in the global financial sense, yet it is the single largest asset of most U.S. households. Then consider all of the derivative mortgage products and investment vehicles. Has your head exploded yet?
Last month we put out a survey on improving the appraisal report based on the work and analysis completed thus far by the CRN Appraisal Reporting Summit and we are happy to report a great turnout. We would like to share these most recent results with Buzz readers. The survey was written to support the three main goals of the CRN Reporting Summit effort. The first of which is to identify the changes that might be made to assist appraisers in developing a more credible appraisal report.
There is a coming war between men and machines. We are not talking about a war from a science fiction movie but a very different type of battle. It is the battle for the appraisal industry valuation methodology. Automated Valuation Models (AVMs) have become increasingly brought up in conversations of valuation methods. Most feel that they are not a replacement for actual human assessment and intuition.
Finance Management Apps For Your Appraisal Business
Americans love their mobile devices! We use them to browse the Internet for information, text our families and friends, email our business colleagues, post statuses in social media platforms, and much more.
Most appraisers know that technology is changing the way that the appraisal industry is run. We heard from many of you in the comments section of April's article "How Technology is Changing the Appraisal Industry". Regardless if you are for or against these changes the fact of the matter is that in order to fully keep up with the industry it is vital that you understand how to USE this technology to increase your business.
From measuring tapes to Distos, and note pads to iPads, the tools of the appraisal trade have changed dramatically in the past few decades. But change isn’t always easy, and it often takes time and money. Are appraisers embracing this new technology or resisting change? We talked to several key professionals in the industry for their take on how technology is changing the profession.