Power Tools for Appraisers

As the housing market slows in various parts of the country, appraisers are noticing a slowing in their business too. Communicator Magazine gives several suggestions on how appraisers in slow markets can keep their business growing. One suggestion is to market pre-sale inspections to sellers. These can be used not only to see what needs to be fixed in order to sell a home, but also highlight the property's strengths that might have gone unnoticed. Other suggestions include marketing maintenance inspections or relocation inspections to boost business.

Posted on March 26 at 10:00 AM | Permanent Link

According to Appraisal News Online, appraisal regulatory reform is on the docket for the 110th Congress. The House Financial Services Committee will take up discussions this year as a result of growing reports of appraisal fraud and a perceived lack of oversight by state agencies, which lack funding and staff.

Posted on March 21 at 11:21 AM | Permanent Link

A recent article in the New York Sun newspaper asked the question after video footage of a rodent-infested KFC in Greenwich Village got wide play. The developer of a nearby condo project thinks the news will fade from memory and not impact sales. Unlike the smell of drycleaning chemicals exhaust from a smelly restaurant that are lingering, rats fall under the "out of sight, out of mind" category of nuisance.

Posted on March 9 at 02:22 PM | Permanent Link

More and more frequently we hear tales of identity theft on the news and the tragic costs and difficult road to recovery for victims. But when identity theft touches appraisers it can lead to mortgage fraud and blacklisting. The Winter 2007 issue of Communicator relates several recent cases of identity theft involving established appraisers by upstarts, former associates, or even people without appraisal licenses. For these victims, their troubles didn’t end at the court. They all have spent considerable time rebuilding their careers and good names with lenders.

Posted on March 9 at 12:40 PM | Permanent Link

According to a recent survey reported in Realty Times nine out of ten appraisers have been pressured to raise property valuations. This is up dramatically from a 2003 survey where 45 percent of appraisers say they had “never” been asked to fudge their numbers. According to the survey, some pressure comes from real estate agents, but more often from mortgage brokers.

Posted on March 1 at 12:36 PM | Permanent Link