Once upon a time there was a young man named Steve. Steve lived in California in his parents' house. He decided he wanted to try his hand at making computers and used his parents' garage as his workshop. The first computers he put out were… well… they weren't very good. Over time, Steve learned that in order sell computers, he had to make a quality product. Long story short, Steve grew up. Steve made good computers. Steve Jobs made a lot of computers. Moral of the story? It is possible to put out a good product in a high volume.
Have you ever received a call from an Appraisal Management Company wanting to place an order from you and you had never heard of them. Most appraisers have had this issue before. This was one of the reasons the Allterra Group put together this comprehensive directory. This alphabetical AMC Directory list will help you quickly look up an AMC and find their important contact information. We haven't mentioned the best part yet, it's Free! This directory is completely free to Appraisal Buzz subscribers.
If you want to understand America's foreclosure crisis, look no further than the Federal Housing Administration (FHA), the organization that insures the mortgages of nearly eight million families. Founded in 1934 in the midst of the Great Depression, the FHA was supposed to stabilize the mortgage market and generally make things better for homeowners. But something went horribly wrong.
1903 to Present - Part 1
This is the first in a series of articles on property valuation theory and practice from 1903 to the present. Land economics developed as a discipline in the early part of the 20th century because the United States was rapidly urbanizing and homeownership rates and mortgage debt levels were increasing.
For all sorts of reasons, appraisers have fewer and fewer direct relationships with their lender clients. This is one of the reasons Allterra Group is so excited to announce their upcoming Appraiser Events. We have partnered with Union Bank and Rabobank to offer recruiting and training events for appraisers on the west coast. This is a tremendous opportunity for appraisers to get to meet and greet Ken DeFeo, Vice President, Residential Appraiser Manager at Union Bank and Robert Melfe, Vice President, Appraisal Manager at Rabobank.
One of the aspects I love most about appraising is that every day is different. I inspect an average of 3.25 houses per day. Since every house is different, every day is unique. Despite the variety we enjoy, I have also recognized that, though the setting varies each time, there is some repetition. Specifically, the questions we get from borrowers seem to be similar over and over again.
This past Wednesday we sat down with Joan Trice to talk about third party oversight. In response to some of the comments we received on that interview we wanted to take some time to talk to Joan again about understanding background checks. Find out the answers to any questions you may have with this in depth interview.
BUZZ: Welcome back.
Joan: Thanks. I wanted to take some time to specifically address background checks.
In a recent survey conducted by the Appraisal Institute, the majority of real estate appraisers said they were optimistic about their future and that of the profession.
The 2013 Real Estate Appraisal Outlook found that demand for appraisal services has increased and that local markets were stronger than a year ago. However, while responses were generally positive when it came to overall business, the potential for training new professionals was slightly behind, with less than one-fifth of those surveyed saying they planned to add trainee appraisers to their staff.
Recently there have been a lot of questions being asked about Third Party Oversight and how it will affect appraisers in the future. We sat down with Joan Trice to get answers to some of the more frequently asked questions. Read this interview to find out how new regulations impact you.
BUZZ: Gee Joan, it has been a while since we have interviewed you.
I have had the privilege of teaching appraisal classes in over 40% of the states in this country within the last three to four years. In every class I speak unremittingly about my appraiser trainee(s) and how I love my trainee. I usually ask the class if anyone is training appraisers and there are very few who actually are. I am often met with hesitation by the appraiser's in the classes.